Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 15/05/2015

Forex Pivot Points and Forex Technical Analysis 15/05/2015

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 1.1395$ with targets at 1.1450$ next 1.1500$ in extension.

Alternatively, Short positions below the daily pivot point 1.1395$ with targets at 1.1345$ next 1.1290$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1445, 1.1500, 1.1535
Support: 1.1290, 1.1130, 1.1065, 1.1055, 1.0850, 1.0660, 1.0520 *-

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5770$ with targets at 1.5815$ next 1.5860$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5770$ with targets at 1.5725$ next 1.5680$ 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 0.9125 with targets at 0.9180 next 0.9230 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9125 with targets at 0.9070 next 0.9020 in extension.

USDCHF – Daily Chart Support and Resistance levels

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

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 119.15 with targets at 119.40 next 119.65 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 119.15 with targets at 118.95 next 118.65 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.45, 120.25, 120.50, 120.85, 122.05
Support: 118.85, 118.50, 118.25, 118.00, 117.05

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.1970 with targets at 1.2040 next 1.2095 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.1970 with targets at 1.1915 next 1.1845 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2020, 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 0.8105 with targets at 0.8145 next 0.8205 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8105 with targets at 0.8045 next 0.8005 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance0.8165, 0.8215, 0.8255, 0.8295
Support: 0.8030, 0.7860, 0.7800, 0.7680, 0.7650

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7510 with targets at 0.7545 next 0.7595 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7510 with targets at 0.7460 next 0.7430 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance:  0.7565, 0.7610, 0.7740
Support: 0.7420, 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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