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Forex Pivot Points and Forex Technical Analysis 03/08/2015

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 1.1005$ with targets at 1.1090$ next 1.1200$ in extension.

Alternatively, Short positions below the daily pivot point 1.1005$ with targets at 1.0895$ next 1.0810 in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1135, 1.1220, 1.1285, 1.1350, 1.1470
Support: 1.0890, 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5615$ with targets at 1.5680$ next 1.5745$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5615$ with targets at 1.5550$ next 1.5485$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5690, 1.5815, 1.5930, 1.6000, 1.6185
Support: 1.5530, 1.5440, 1.5330, 1.5160, 1.5080, 1.5055

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9620 with targets at 0.9695 next 0.9760 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9620 with targets at 0.9560 next 0.9485 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9720, 0.9755, 0.9865
Support: 0.9635, 0.9595, 0.9520, 0.9405, 0.9350, 0.9230, 0.9150

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.90 with targets at 124.30 next 124.75 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.90 with targets at 123.45 next 123.05 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 124.60, 125.05, 125.80
Support: 123.50, 123.00, 122.40, 121.90, 121.45

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3040 with targets at 1.3140 next 1.3195 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3040 with targets at 1.2985 next 1.2885 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.3135, 1.3200, 1.3310
Support: 1.3050, 1.2930, 1.2855, 1.2820, 1.2645, 1.2565

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7295 with targets at 0.7365 next 0.7430 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7295 with targets at 0.7230 next 0.7165 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7370, 0.7500, 0.7595, 0.7630, 0.7740, 0.7770
Support: 0.7230, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6595 with targets at 0.6660 next 0.6735 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6595 with targets at 0.6520 next 0.6455 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.6695, 0.6740, 0.6770, 0.6815, 0.6860
Support: 0.6535, 0.6485, 0.6380, 0.6320, 0.6275

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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