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Forex Pivot Points and Forex Technical Analysis 24/07/2015

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 1.0975$ with targets at 1.1030$ next 1.1075$ in extension.

Alternatively, Short positions below the daily pivot point 1.0975$ with targets at 1.0935$ next 1.0875 in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance: 1.0975, 1.1135, 1.1220, 1.1285, 1.1350, 1.1470
Support: 1.0805, 1.0720, 1.0660, 1.0520

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5560$ with targets at 1.5625$ next 1.5735$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5560$ with targets at 1.5450$ next 1.5385$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5675, 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 0.9570 with targets at 0.9625 next 0.9655 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9570 with targets at 0.9540 next 0.9490 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9650, 0.9720, 0.9755, 0.9865 
Support: 0.9520, 0.9405, 0.9350, 0.9230, 0.9150, 0.9070

USDJPY – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 123.90 with targets at 124.15 next 124.45 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 123.90 with targets at 123.65 next 123.40 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 124.50, 124.60, 125.05, 125.80, 126.30
Support: 123.55, 122.40, 121.90, 121.45, 120.40, 118.30

USDCAD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.3000 with targets at 1.3070 next 1.3120 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.3000 with targets at 1.2950 next 1.2880 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.3055, 1.3090, 1.3125, 1.3200 
Support: 1.2915, 1.2820, 1.2645, 1.2565, 1.2500, 1.2420, 1.2320 

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7380 with targets at 0.7425 next 0.7490 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7380 with targets at 0.7315 next 0.7275 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7500, 0.7595, 0.7630, 0.7740, 0.7770
Support: 0.7325, 0.7280, 0.7170

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6635 with targets at 0.6675 next 0.6740 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6635 with targets at 0.6575 next 0.6535 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.6770, 0.6815, 0.6860, 0.6925, 0.6940
Support: 0.6555, 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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