Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 07/07/2015

Forex Pivot Points and Forex Technical Analysis 07/07/2015

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

Bullish scenario: Long positions above the daily pivot point 1.1045$ with targets at 1.1100$ next 1.1150$ in extension.

Alternatively, Short positions below the daily pivot point 1.1045$ with targets at 1.0995$ next 1.0940 in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1285, 1.1350, 1.1470, 1.1500
Support: 1.0950, 1.0885, 1.0820, 1.0660

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5585$ with targets at 1.5640$ next 1.5685$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5585$ with targets at 1.5545$ next 1.5490$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5665, 1.5815, 1.5930, 1.6000 , 1.6185
Support: 1.5530, 1.5440, 1.5160, 1.5080, 1.5055

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9435 with targets at 0.9465 next 0.9505 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9435 with targets at 0.9395 next 0.9365 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9505, 0.9545, 0.9600, 0.9720
Support: 0.9380, 0.9230, 0.9150, 0.9070 

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 122.60 with targets at 123.00 next 123.35 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 122.60 with targets at 122.25 next 121.85 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 123.70, 124.60, 125.05, 125.80, 126.30
Support: 121.90, 121.45, 120.80, 118.30

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2630 with targets at 1.2695 next 1.2730 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2630 with targets at 1.2595 next 1.2525 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2670, 1.2785, 1.2835
Support: 1.2630, 1.2500, 1.2420, 1.2320, 1.2250, 1.2150

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7490 with targets at 0.7515 next 0.7560 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7490 with targets at 0.7450 next 0.7420 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7600, 0.7630, 0.7740, 0.7770, 0.7850, 0.7860
Support: 00.7450, 0.7395, 0.7340 

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6685 with targets at 0.6720 next 0.6770 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6690 with targets at 0.6640 next 0.6600 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.6815, 0.6860, 0.6925, 0.6940, 0.7025, 0.7075
Support: 0.6650, 0.6630, 0.6570 

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.

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