Trading news

11th July 2014 Major Currencies Daily Pivots

Pivot levels are significant price levels calculated based on the high, low and close of the previous period. Not only does it provides price levels to work with, it also gives a range estimate of the trading day.

When the market is trading above the pivot level then it is considered bullish and when the market is trading below the pivot level it is considered bearish. Accompanying the pivot levels are both support and resistance 1 and 2, which we refer to as R1, R2, S1 & S2.

Daily pivot points are commonly used amongst traders to estimate the daily range and also to locate turning points in the market, which are essential for short, medium and long term traders.

EUR/USD Daily Pivot

Pivot Level  
R2 1.3677
R1 1.3642
PIVOT 1.3615
S1 1.3580
S2 1.3554

GBP/USD Daily Pivot

Pivot Level  
R2 1.7197
R1 1.7164
PIVOT 1.7134
S1 1.7101
S2 1.7071

USD/JPY Daily Pivot

Pivot Level  
R2 101.94
R1 101.64
PIVOT 101.35
S1 101.04
S2 100.76

USD/CHF Daily Pivot

Pivot Level  
R2 0.8950
R1 0.8935
PIVOT 0.8918
S1 0.8903
S2 0.8887

AUD/USD Daily Pivot

Pivot Level  
R2 0.9497
R1 0.9445
PIVOT 0.9403
S1 0.9351
S2 0.9308

NZD/USD Daily Pivot

Pivot Level  
R2 0.8857
R1 0.8838
PIVOT 0.8816
S1 0.8797
S2 0.8774

Daily pivot points are sourced via the Invast MT4 platform and provided daily.

Friday, 11 Jul, 2014 / 8:17

Source : http://blog.invast.com.au/finance/11th-july-2014-major-currencies-daily-pivots#.U7-IoPmSwYE

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