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Forex Pivot Points and Forex Technical Analysis 06/08/2015

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 1.0895$ with targets at 1.0940$ next 1.0975$ in extension.

Alternatively, Short positions below the daily pivot point 1.0895$ with targets at 1.0855$ next 1.0810 in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.0000, 1.1115, 1.1135, 1.1220, 1.1285, 1.1350
Support: 1.0845, 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5595$ with targets at 1.5660$ next 1.5720$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5595$ with targets at 1.5535$ next 1.5465$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5690, 1.5815, 1.5930, 1.6000, 1.6185
Support: 1.5520, 1.5440, 1.5330, 1.5160, 1.5080, 1.5055

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9790 with targets at 0.9825 next 0.9855 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9790 with targets at 0.9755 next 0.9720 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9825, 0.9865, 0.9900, 0.9970, 1.0000 
Support: 0.9720, 0.9635, 0.9595, 0.9520, 0.9405, 0.9350

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 124.60 with targets at 125.20 next 125.65 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.60 with targets at 124.15 next 123.50 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 125.05, 125.80, 126.00
Support: 124.45, 123.50, 123.00, 122.40, 121.90

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3165 with targets at 1.3220 next 1.3270 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3165 with targets at 1.3115 next 1.3060 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.3215, 1.3310
Support: 1.3105, 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 0.7345 with targets at 0.7430 next 0.7515 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7345 with targets at 0.7265 next 0.7180 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7450, 0.7500, 0.7595, 0.7630, 0.7740, 0.7770
Support: 0.7325, 0.7230, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6525 with targets at 0.6565 next 0.6605 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.652 with targets at 0.6485 next 0.6450 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.6600, 0.6695, 0.6740, 0.6770, 0.6815, 0.6860
Support: 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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