At AtoZ Forex and Target Signals we heavily rely on pivot points while analyzing the long-term market trend. Pivot point calculation enable investors and traders to find potential support and resistance levels as well as possible reversal points to speculate on the trend direction, hence could increase profit/loss ratio significantly if used correctly.
AtoZForex.com carefully analyses the market at the end of every month and provides monthly pivot points, support and resistance levels for the major currency pairs.
For March we have also added NZD/USD for its bullish developments in February and USDCHF as the pair is no longer the inverted version of EUR/USD.
March Monthly Forex Pivot Points, Support and Resistance levels:
What are Pivot Points, Support and Resistance levels?
You may be wondering what all these numbers mean. These are the price levels where the trend of the specified trading tool will stall or potentially touch & reverse.
How do you calculate pivot point, support and resistance levels?
To calculate pivot points as well as support & resistance levels you do not necessarily have to be a math savvy. We have last week launched renewed AtoZ Forex Pivot Point Calculator which is easy to use.
How to use pivot point, support and resistance levels?
- Locate these levels on you trading platform (recommend to use green color for Pivot point, Red for support levels and blue for Resistance levels
- Mark the opening point of the market for the month
- Compare the new month opening to the Monthly Pivot Point (MPP), the opening of the market will give traders a clue about the trend bias for the month
- If the monthly opening price is above the MPP bullish bias are likely to be in action
- If the monthly opening price is below the MPP bearish bias will be preferred for the month
- This does not mean that traders should enter their positions based on the market openings. Generally price tends to pull back towards monthly pivot point before moving on the trending direction. The same phenomena appear for the daily pivot points and daily trend bias.
I want to get clear trend direction what should I do?
Get Free Daily Forex Signals: 441 pips profit in February.
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