Pivot points in forex

Symbols are based on Yahoo format. Please be aware the auto pivot tool uses Yahoo data and can be subject to occasional adjustments, especially Dow Jones Index. In this case use our Index Pivot Points page as pivot points in forex created with more stable data.

For stock pivots, USA stocks just type symbol EG: AAPL. 1 – Like or Tweet Us! Here is the current Pound US Dollar rate. Foreign exchange rate for GBPUSD including todays high,low and change.

Our Pound US Dollar Live exchange rates are updated once per minute from 00:00 GMT Monday until 21:00 GMT Friday. The GBPUSD live rate is available 24 hours a day and can be viewed in our exchange rate tables, you can also use our live currency converter tool which allows you to convert currency at current live exchange rates. GBPUSD topped exactly at strong resistance at 1. On further gains try shorts at 1. 2009 as a free resource on forex markets. Make sure you bookmark and visit again soon. Pivot Points are used to project potential support and resistance levels.

The main time periods used are daily, weekly, and monthly pivots. To calculate weekly or monthly numbers, simply replace “yesterday’s” with “last week’s” or “last month’s” high or low. Dow Jones Industrial Average mini-Dow futures contract reversed course and headed downward. After that, the next potential support was at the Pivot Point. However, the mini-Dow broke through the Pivot Point.

Notice that when the mini-Dow attempted to reverse course, it was rejected by the Pivot Point now acting as resistance. An important technical analysis concept is that when resistance is penetrated the prior resistance might then become support. S1 held strong and the mini-Dow reversed direction yet again. The next resistance line was at the Pivot Point, which failed.

The trading day ended by the mini-Dow testing the Pivot Point, now acting as support, which subsequently held. From there, the index rallied on into the close. More ways to use Pivot Points is discussed on the next page. The information above is for informational and entertainment purposes only and does not constitute trading advice or a solicitation to buy or sell any stock, option, future, commodity, or forex product. Past performance is not necessarily an indication of future performance.

Plotting a trend line on a Forex chart gives very valuable information. In addition, it will also help to determine good entry and exit points, best positioning for profit taking and placing protective stops. So, shall we learn how to draw trend line to make it our good friend in profitable forex trading? That is why when the trend is going to change our trend line will be crossed, which therefore will give us a signal that the price can start moving in another direction. In the uptrend, Forex trend line is drawn through the lowest swing-points of the price move. Connecting at least two «lowest lows» will create a trend line.