Do pivots work on currencies? Yes!
DXY W with long term pivots. DXY lifted above its YP a few times in 2013 only to stall. But in 2014 it tried again and a tremendous move followed, with a key retest high bang on 2015 2HR1. Note this week's break of the 1HP and test of the YP at 96.48 - a huge level to watch going forward.
And here's the Euro, EURUSD. The break of the YP in July 2014 led to a huge drop. Like the DXY testing its YP, the EURUSD also tested its YP for the first time since July 2014 this week.
USDJPY was in the news this week. It has been completely above its yearly pivot since late 2012! But this week the YP broke for a second time, and that should be definitive this year. If YS1 / 1HS1 combo near 115 breaks, then next major support is 110-111.
And the AUDUSD has been completely below its YP since May 2013. China slowdown? Not a surprise here. As long as it stays under the long term pivots of 1HP .731 and YP .749, trend is down.
Lastly, do you think pro Bitcoin traders are using pivots? 2014 highs on the YP / HP combo, 2015 low on the 1HS1 exact and 2015 high very near the YP / 2HR3 exact, and recent support on the YP near exact. Hmm.