Forex: USD/JPY - anticipated buying and selling interest
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On the downside, below 128.80/90 (Jun 20 lows/day low), the pair might find support at 128.50 (daily and weekly pivot point support) and 127.90 (Daily pivot point S2). On the upside, resistance levels lie at 129.30 (day high), and above here,
(California) - The mapping of pivot points and horizontal levels of support and resistance are an essential element for day trading entries and exits. While the market is relatively quiet in Asia, let's take a moment to review some of
of options from the current closing level with the 1.0670 sup-port now looking more like a pivot point and the 1.0750 resistance seen during Europe and the US sessions if broken could see the pair bounce quickly towards 1.0800 possible 1.0850.
On the downside, support levels lie at 113.40/50 (May 15/Jun 16 low), and below here, 113.05/10 (Daily/weekly pivot point support) and 112.50 (Daily Pivot Point S3). On a longer-term outlook, the pair is consolidating nervously above 113.40/50,
On the upside, the Euro might find resistance at 1.4200 (previous week low), and above here, 1.4290 (weekly pivot point), and then 1.4435/40 (Jun 21/22 highs). EUR/CHF retreat from 1.2150 resistance area tested yesterday has extended about 200 pips
What are pivot points in forex trading? | Forex Made Easy
Hello,
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First of all, “no nickname” is clueless. He probably had 1 bad experience in FX trading and considers it a scam. It’s like going out on 1 bad date and now dating is a scam? Please. Second, Uman needs to read the news. With real estate declining (and quickly by several comments from people that have worked in the industry for decades) I’m sure he’s going to get burned soon. Flippers and r.e. investors are starting to lose money. With house values declining and new home builders offering incentives to sell their homes, r.e. investors are getting taken to the cleaners.
Alas, none of them answered your question. A pivot point is not exclusive to the FX markets. You can use pivot points in stocks, futures, etc. A pivot point is a calculation based on the high, low & close price of the previous day. A pivot point is a “possible” point where prices could turn. Or if prices exceed that point, then it could act as potential support/resistence (depending on which way the market is moving). If prices fall below the pivot, then it could now act as resistence. If prices rise above the pivot, then it could now act as support.
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Forex: EUR-NZD much lower, testing second daily support (1.71).
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