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Forex Pivot Points and Technical Analysis 08/07/2015

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Forex Pivot Points

Forex Pivot Points and Technical Analysis 08/07/2015

Jul 08 2015, 06:43 GMT

Shady Bahouth

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 1.0990$ with targets at 1.1070$ next 1.1130$ in extension.

Alternatively, Short positions below the daily pivot point 1.0990$ with targets at 1.0930$ next 1.0855 in extension.

EURUSD - Daily Chart Support and Resistance levels

Resistance: 1.1095, 1.1285, 1.1350, 1.1470, 1.1500
Support: 1.0915, 1.0885, 1.0820, 1.0660

GBPUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5495$ with targets at 1.5575$ next 1.5690$ in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 1.5495$ with targets at 1.5380$ next 1.5295$ in extension.

GBPUSD - Daily Chart Support and Resistance levels

Resistance: 1.5540, 1.5665, 1.5815, 1.5930, 1.6000 , 1.6185
Support: 1.5410, 1.5160, 1.5080, 1.5055

USDCHF - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9470 with targets at 0.9510 next 0.9560 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.9470 with targets at 0.9420 next 0.9380 in extension.

USDCHF - Daily Chart Support and Resistance levels

Resistance: 0.9515, 0.9545, 0.9600, 0.9720
Support: 0.9415, 0.9380, 0.9230, 0.9150, 0.9070 

USDJPY - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 122.45 with targets at 122.95 next 123.35 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 122.45 with targets at 122.05 next 121.60 in extension.

USDJPY - Daily Chart Support and Resistance levels

Resistance: 122.60, 123.70, 124.60, 125.05, 125.80, 126.30
Support: 121.90, 121.45, 120.80, 118.30

USDCAD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.2715 with targets at 1.2785 next 1.2850 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2715 with targets at 1.2655 next 1.2585 in extension.

USDCAD - Daily Chart Support and Resistance levels

Resistance: 1.2785, 1.2835, 1.2930, 1.3005
Support: 1.2630, 1.2500, 1.2420, 1.2320, 1.2250, 1.2150

AUDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7450 with targets at 0.7505 next 0.7550 in extension. 

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7450 with targets at 0.7400 next 0.7350 in extension.

AUDUSD - Daily Chart Support and Resistance levels

Resistance: 0.7595, 0.7630, 0.7740, 0.7770, 0.7850, 0.7860
Support: 0.7395, 0.7340 , 0.7280 , 0.7170

NZDUSD - Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.6655 with targets at 0.6690 next 0.6720 extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.6655 with targets at 0.6625 next 0.6590 in extension.

NZDUSD - Daily Chart Support and Resistance levels

Resistance: 0.6715, 0.6815, 0.6860, 0.6925, 0.6940, 0.7025
Support: 0.6600, 0.6570, 0.6480  

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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