Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 13/03/2015

Forex Pivot Points and Forex Technical Analysis 13/03/2015

Mar 13 2015, 08:30 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 1.0600$ with targets at 1.0520$ next 1.0410$ in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.0600$ with targets at 1.0710$ next 1.0790$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.0720, 1.0840, 1.1115, 1.1270, 1.1445, 1.1500, 1.1540
Support: 1.0495, 1.0385, 1.0320, 1.0280, 1.0160

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.4920$ with targets at 1.4995$ next 1.5100$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.4920$ with targets at 1.4820$ next 1.4745$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.4990, 1.5195, 1.5315, 1.5480, 1.5555, 1.5620, 1.5785
Support: 1.4850 , 1.4810, 1.4750, 1.4710 

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.0045 with targets at 1.0110 next 1.0195 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.0045 with targets at 0.9965 next 0.09895 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 1.0130, 1.0240, 1.0300
Support: 0.9890, 0.9795, 0.9535, 0.9450, 0.9345, 0.9165

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 121.20 with targets at 121.80 next 122.25 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 121.20 with targets at 120.75 next 120.20 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 122.05, 122.50, 123.00
Support: 120.25, 119.35, 118.25, 116.85

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2675 with targets at 1.2740 next 1.2790 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2675 with targets at 1.2630 next 1.2565 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2790, 1.2810, 1.2920, 1.3000
Support: 1.2615, 1.2565, 1.2350, 1.2045, 1.2020

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7670 with targets at 0.7765 next 0.7825 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7670 with targets at 0.7610 next 0.7515 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7740, 0.7860, 0.7915, 0.8035, 0.8090
Support: 0.7550, 0.7460, 0.7380

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7380 with targets at 0.7470 next 0.7535 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7380 with targets at 0.7315 next 0.7220 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7450, 0.7500, 0.7615
Support: 0.7310, 0.7175, 0.7120, 0.7080

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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