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Forex Pivot Points and Technical Analysis 21 November 2014

Forex Pivot Points and Technical Analysis 21 November 2014
Nov 21 2014, 06:30 GMT  Shady Bahouth

Forex 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 1.2540$ with targets at 1.2575$ next 1.2615$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.2540$ with targets at 1.2505$ next 1.2470$ in extension.

EURUSD – Daily Chart Support and Resistance levels

Resistance:  1.2605, 1.2615, 1.2770, 1.2840, 1.2890
Support:  1.2505, 1.2400, 1.2355, 1.2325, 1.2240

GBPUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 1.5685$ with targets at 1.5740$ next 1.5790$ in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 1.5685$ with targets at 1.5640$ next 1.5580$ in extension.

GBPUSD – Daily Chart Support and Resistance levels

Resistance: 1.5740, 1.5790, 1.5950, 1.6025, 1.6185
Support: 1.5590, 1.5570, 1.5430, 1.5270

USDCHF – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.9580 with targets at 0.9610 next 0.9635 in extension.

Alternatively, Bearish Scenario: Short positions below the daily pivot point 0.9580 with targets at 0.9555 next 0.9525 in extension.

USDCHF – Daily Chart Support and Resistance levels

Resistance: 0.9615, 0.9700, 0.9750, 0.9790, 0.9840
Support:  0.9525, 0.9470, 0.9360, 0.9300

USDJPY – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 118.35 with targets at 117.70 next  117.10  in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 118.35 with targets at 118.90  next 119.55 in extension.

USDJPY – Daily Chart Support and Resistance levels

Resistance: 119.00, 119.70, 120.05
Support: 116.80, 115.45, 113.80, 112.45, 110.10

USDCAD – Day Trading Strategies

Bearish scenario: Short positions below the daily pivot point 1.1325 with targets at 1.1280 next 1.1250 in extension.

Alternatively, Bullish scenario: Long positions above the daily pivot point 1.1325 with targets at 1.1355 next 1.1400 in extension.

USDCAD – Daily Chart Support and Resistance levels

Resistance: 1.1370, 1.1405, 1.1470, 1.1500, 1.1545
Support: 1.1255, 1.1180, 1.1120

AUDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.8610 with targets at 0.8655 next 0.8685 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.8610 with targets at 0.8580 next 0.8535 in extension.

AUDUSD – Daily Chart Support and Resistance levels

Resistance: 0.8880, 0.8900, 0.8985, 0.9110
Support: 0.8535, 0.8480, 0.8315

NZDUSD – Day Trading Strategies

Bullish scenario: Long positions above the daily pivot point 0.7850 with targets at 0.7890 next 0.7925 in extension.

Alternatively, Bearish scenario: Short positions below the daily pivot point 0.7850 with targets at 0.7815 next 0.7775 in extension.

NZDUSD – Daily Chart Support and Resistance levels

Resistance: 0.7980, 0.8035, 0.8070, 0.8130, 0.8230
Support: 0.7800, 0.7700, 0.7650, 0.7620, 0.7575

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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