Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 14/05/2015

Forex Pivot Points and Forex Technical Analysis 14/05/2015

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 1.1310$ with targets at 1.1420$ next 1.1490$ in extension.

Alternatively, Short positions below the daily pivot point 1.1310$ with targets at 1.1240$ next 1.1130$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1395, 1.1445, 1.1500, 1.1535
Support: 1.1130, 1.1065, 1.1055, 1.0850, 1.0660, 1.0520, 1.0500

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5710$ with targets at 1.5795$ next 1.5855$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5710$ with targets at 1.5650$ next 1.5565$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5785, 1.5825, 1.5945, 1.5995 
Support: 1.5550, 1.5490, 1.5350, 1.5195, 1.5080, 1.5055

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9205 with targets at 0.9260 next 0.9350 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9205 with targets at 0.9120 next 0.9065 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9360, 0.9415, 0.9475, 0.9720, 0.9755
Support:  0.9100, 0.9070, 0.9000, 0.8835

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 119.35 with targets at 119.80 next 120.40 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.35 with targets at 118.75 next 118.35 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.45, 120.25, 120.50, 120.85, 122.05
Support: 118.50, 118.25, 118.00, 117.05

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1960 with targets at 1.2020 next 1.2085 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1960 with targets at 1.1895 next 1.1835 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2000, 1.2205, 1.2305, 1.2350, 1.2440
Support: 1.1900, 1.1870, 1.1795

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8065 with targets at 0.8170 next 0.8235 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8065 with targets at 0.8005 next 0.7895 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8030, 0.8090, 0.8160, 0.8215, 0.8255, 0.8295
Support: 0.7860, 0.7800, 0.7680, 0.7650, 0.7530

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7480 with targets at 0.7605 next 0.7680 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7480 with targets at 0.7405 next 0.7285 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance:  0.7430, 0.7480, 0.7535, 0.7610, 0.7740
Support: 0.7315, 0.7275, 0.7185

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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