Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 05/03/2015

Forex Pivot Points and Forex Technical Analysis 05/03/2015

Mar 05 2015, 04:02 GMT    Shady Bahouth

Daily technical analysis for major currency pairs, main support and resistance levels and intra-day trading strategies based on same day Pivot Points.

EURUSD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1110$ with targets at 1.1030$ next 1.0985$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1110$ with targets at 1.1155$ next 1.1230$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1115, 1.1270, 1.1445, 1.1500, 1.1540, 1.1650, 1.1680
Support: 1.1060, 1.1020, 1.0980, 1.0920

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5295$ with targets at 1.5340$ next 1.5415$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5295$ with targets at 1.5220$ next 1.5175$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5315, 1.5480, 1.5555, 1.5620, 1.5680, 1.5785
Support: 1.5220, 1.5195, 1.4990, 1.4950, 1.4880

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9635 with targets at 0.9680 next 0.9730 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9635 with targets at 0.9590 next 0.9545 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9685, 0.9795, 0.9885, 1.0115
Support: 0.9535, 0.9450, 0.9345, 0.9165, 0.8835, 0.8495

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 119.75 with targets at 120.10 next 120.60 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.75 with targets at 119.30 next 118.90 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 120.30, 120.50, 120.75, 121.70
Support: 119.35, 118.25, 118.00, 116.85, 115.85, 115.50

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2460 with targets at 1.2510 next 1.2595 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2460 with targets at 1.2375 next 1.2320 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2565, 1.2670, 1.2700, 1.2790, 1.2810, 1.2920, 1.3000
Support: 1.2350, 1.2045, 1.2020, 1.1875, 1.1795, 1.1670 

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7825 with targets at 0.7855 next 0.7890 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7825 with targets at 0.7790 next 0.7760 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7915, 0.8035, 0.8090, 0.8160, 0.8295, 0.8375
Support: 0.7739, 0.7625, 0.7580, 0.7460

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7580 with targets at 0.7615 next 0.7650 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7580 with targets at 0.7550 next 0.7515 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7610, 0.7670, 0.7795, 0.7890
Support: 0.7500, 0.7420, 0.7325, 0.7290, 0.7190, 0.7170

Forex Pivot Points:

Pivot points are very useful tools for FX professional traders that use the previous bars' highs, lows and closings to project potential support and resistance levels for future bars.
 

 

 

More Details

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments