Home Forex Analysis And Forecasts Forex Pivot Points and Forex Technical Analysis 27/05/2015

Forex Pivot Points and Forex Technical Analysis 27/05/2015

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 1.0905$ with targets at 1.0950$ next 1.1015$ in extension.

Alternatively, Short positions below the daily pivot point 1.0905$ with targets at 1.0840$ next 1.0795$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.0910, 1.1070, 1.1130, 1.1290, 1.1390, 1.1470
Support: 1.0850, 1.0715, 1.0610

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5405$ with targets at 1.5460$ next 1.5520$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5405$ with targets at 1.5340$ next 1.5285$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5445, 1.5700, 1.5825, 1.5945, 1.5995 
Support: 1.5350, 1.5195, 1.5080, 1.5055

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9505 with targets at 0.9550 next 0.9585 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9505 with targets at 0.9470 next 0.9420 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9600, 0.9720
Support:  0.9475, 0.9400, 0.9360, 0.9270, 0.9150

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 122.65 with targets at 123.65 next 124.35 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 122.65 with targets at 121.95 next 120.95 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 123.50, 123.90, 124.05
Support: 122.50, 122.05, 121.90, 121.45, 120.60, 120.10

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2390 with targets at 1.2480 next 1.2535 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2390 with targets at 1.2335 next 1.2245 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.2450, 1.2500, 1.2565
Support: 1.2350, 1.2205, 1.2160, 1.1950, 1.1900, 1.1870

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7770 with targets at 0.7815 next 0.7890 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7770 with targets at 0.7700 next 0.7650 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7800, 0.7860, 0.8030, 0.8165, 0.8215, 0.8255
Support: 0.7715, 0.7680, 0.7650

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7260 with targets at 0.7305 next 0.7365 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7260 with targets at 0.7195 next 0.7155 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance:  0.7280, 0.7315, 0.7390, 0.7420, 0.7480, 0.7565
Support: 0.7215, 0.7185, 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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