Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 20/05/2015

Forex Pivot Points and Forex Technical Analysis 20/05/2015

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 1.1195$ with targets at 1.1275$ next 1.1405$ in extension.

Alternatively, Short positions below the daily pivot point 1.1195$ with targets at 1.1065$ next 1.0985$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1270, 1.1390, 1.1470, 1.1500, 1.1535
Support: 1.1065, 1.1055, 1.0850, 1.0715 

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5540$ with targets at 1.5640$ next 1.5765$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5540$ with targets at 1.5415$ next 1.5315$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.56530, 1.5825, 1.5945, 1.5995 
Support: 1.5445, 1.5350, 1.5195, 1.5080, 1.5055

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9330 with targets at 0.9425 next 0.9480 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9330 with targets at 0.9275 next 0.9185 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9415, 0.9475, 0.9720
Support:  0.9270 ,0.9150, 0.9070, 0.9000, 0.8835

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 120.40 with targets at 120.95 next 121.30 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 120.40 with targets at 120.05 next 119.50 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 121.00, 121.70, 122.05
Support: 120.60, 120.10, 119.40, 118.85, 118.50, 118.25

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2205 with targets at 1.2275 next 1.2325 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2205 with targets at 1.2155 next 1.2080 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2305, 1.2350, 1.2440
Support: 1.2205, 1.2160, 1.1950, 1.1900, 1.1870

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7945 with targets at 0.7985 next 0.8050 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7945 with targets at 0.7880 next 0.7840 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8030, 0.8165, 0.8215, 0.8255, 0.8295
Support: 0.7860, 0.7800, 0.7680, 0.7650

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7380 with targets at 0.7425 next 0.7490 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7380 with targets at 0.7310 next 0.7265 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance:  0.7390, 0.7420, 0.7480, 0.7565, 0.7610
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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