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Forex Pivot Points and Forex Technical Analysis 12/08/2015

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 1.1030$ with targets at 1.1100$ next 1.1160$ in extension.

Alternatively, Short positions below the daily pivot point 1.1030$ with targets at 1.0970$ next 1.0900 in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1090, 1.1115, 1.1135, 1.1220, 1.1285, 1.1350
Support: 1.1015, 1.0895, 1.0845, 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5585$ with targets at 1.5615$ next 1.5650$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5585$ with targets at 1.5550$ next 1.5520$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5650, 1.5690, 1.5815, 1.5930, 1.6000
Support: 1.5500, 1.5455, 1.5425, 1.5330, 1.5160, 1.5080

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9860 with targets at 0.9920 next 0.9965 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9860 with targets at 0.9820 next 0.9755 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 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 124.95 with targets at 125.35 next 125.60 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.95 with targets at 124.70 next 124.30 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 125.50, 125.80, 126.00
Support: 125.00, 124.05, 123.50, 123.00, 122.40, 121.90

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3090 with targets at 1.3195 next 1.3290 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3090 with targets at 1.2995 next 1.2890 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.3185, 1.3215, 1.3310
Support: 1.3050, 1.2985, 1.2930, 1.2855, 1.2820, 1.2645

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7345 with targets at 0.7410 next 0.7505 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7345 with targets at 0.7250 next 0.7190 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7315, 0.7450, 0.7500, 0.7595, 0.7630, 0.7740
Support: 0.7230, 0.7170, 0.7080, 0.7000, 0.6980

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6565 with targets at 0.6615 next 0.6680 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6565 with targets at 0.6500 next 0.6450 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.6620, 0.6695, 0.6740, 0.6770, 0.6815, 0.6860
Support: 0.6465, 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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