6th April 2015 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
GBP/USD Daily Pivot
USD/JPY Daily Pivot
USD/CHF Daily Pivot
AUD/USD Daily Pivot
NZD/USD Daily Pivot
Daily pivot points are sourced via the Invast MT4 platform and provided daily.