Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 09/03/2015

Forex Pivot Points and Forex Technical Analysis 09/03/2015

Mar 09 2015, 05:06 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 1.0905$ with targets at 1.0780$ next 1.0715$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.0905$ with targets at 1.0970$ next 1.1100$ 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: 1.0835, 1.0780, 1.0720, 1.0685

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5095$ with targets at 1.5175$ next 1.5330$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5095$ with targets at 1.4940$ next 1.4865$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5195, 1.5315, 1.5480, 1.5555, 1.5620, 1.5680, 1.5785
Support: 1.5020, 1.4990, 1.4950, 1.4880

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9815 with targets at 0.9905 next 0.9960 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9815 with targets at 0.9760 next 0.9670 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9870, 0.9885, 1.0115, 1.0240
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 120.65 with targets at 121.45 next 122.10 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.65 with targets at 120.05 next 119.25 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 121.30, 121.70
Support: 120.35, 119.35, 118.25, 116.85

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2565 with targets at 1.2685 next 1.2745 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2565 with targets at 1.2505 next 1.2385 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2670, 1.2700, 1.2790, 1.2810, 1.2920, 1.3000
Support: 1.2565, 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 0.7755 with targets at 0.7805 next 0.7895 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7755 with targets at 0.7655 next 0.7615 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7740, 0.7860, 0.7915, 0.8035, 0.8090, 0.8160
Support: 0.7625, 0.7580, 0.7460

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7405 with targets at 0.7465 next 0.7565 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7405 with targets at 0.7305 next 0.7250 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7420, 0.7500, 0.7615
Support: 0.7310, 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.

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