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Forex Pivot Points and Forex Technical Analysis 18/08/2015

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 1.1085$ with targets at 1.1115$ next 1.1155$ in extension.

Alternatively, Short positions below the daily pivot point 1.1085$ with targets at 1.1050$ next 1.1020 in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.1220, 1.1285, 1.1350
Support: 1.1015, 1.0895, 1.0845, 1.0805, 1.0720, 1.0660

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5615$ with targets at 1.5655$ next 1.5730$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5615$ with targets at 1.5540$ next 1.5495$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5690, 1.5815, 1.5930, 1.6000
Support: 1.5550, 1.5500, 1.5455, 1.5425, 1.5330, 1.5160

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9775 with targets at 0.9805 next 0.9830 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9775 with targets at 0.9750 next 0.9715 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9905, 0.9970, 1.0000 
Support: 0.9725, 0.9635, 0.9595, 0.9520, 0.9405

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 124.40 with targets at 124.60 next 124.75 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 124.40 with targets at 124.25 next 124.05 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 124.60, 125.30, 125.50, 125.80, 126.00
Support: 123.50, 123.00, 122.40, 121.90

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3105 with targets at 1.3145 next 1.3195 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3105 with targets at 1.3050 next 1.3010 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.3155, 1.3185, 1.3215, 1.3310
Support: 1.3050, 1.2950, 1.2930, 1.2855, 1.2820, 1.2645

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7370 with targets at 0.7390 next 0.7415 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7370 with targets at 0.7345 next 0.7320 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7410, 0.7450, 0.7500, 0.7595, 0.7630, 0.7740
Support: 0.7315, 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 0.6600 next 0.6620 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6565 with targets at 0.6540 next 0.6505 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.6650, 0.6695, 0.6740, 0.6770, 0.6815, 0.6860
Support: 0.6490, 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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