GIGFX Technical Analysis Report For Majors (Updated Daily) - page 12

 

EUR/USD

During the Asian session today, the pair succeeded to break the resistance level 1.4235 which represents 23.6% of Fibonacci's correction level for the last bearish wave for the short-term breaking out of this bearish channel in which it was moving for the short-term and intraday levels. it is expected that the pair will rise during today's intraday levels targeting the resistance level 1.4385 which represents 38.2% of the same Fibonacci's correction level followed by the level 1.4495 which represents 50.0% of Fibonacci's correction level for the same mentioned levels for the last near-term bearish wave.

The stability of these expectations requires the stability of the support level 1.4190.

Res: 1.4291 1.4334 1.4382

Pivot: 1.4243

Sup: 1.4200 1.4152 1.4109

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EUR/USD

The pair succeeded to end yesterday dealings rising as it was expected through the last analysis but it is noticed that a bullish wedge has been formed that shifts this direction, this expresses weakness of this bullish direction for the short-term and intraday levels so it is expected that the pair may decline during the intraday trades of today but breaking the support level 1.4260 is needed as a confirmation for this declining, this confirms breaking the pair out of this formed pattern to target then the support level 1.4060 to test it.

The stability of these expectations requires the stability of the resistance level 1.4390.

Res: 1.4352 1.4398 1.4471

Pivot: 1.4279

Sup: 1.4233 1.4160 1.4114

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EUR/USD

The medium, short-term trades and the intraday are still bearish, whereas the EUR is declining strongly against the main currencies, it's noticed in the chart that the EUR/USD pair is trying to break the support level 1.4045 which breaking it represents confirming continuing forming the bearish direction for the long-term, it's expected in case of this breaking that the pair will target declining the level 1.3964 which represents 127% Fibonacci retracement continuous level for the bullish direction (from 1.4045 to 1.4345) breaking this level also means a further drop till the next support level at 1.3860.

This expectation depends on the stability of the resistance level 1.4115.

Res: 1.4293 1.4425 1.4505

Pivot: 1.4213

Sup: 1.4081 1.4001 1.3869

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EUR/USD

The bearish direction is still dominating the price action of the pair for the short-term and the intraday levels as the pair during yesterday trades succeeded to break the support level 1.4070 which the pair is re-testing it now forming a flag pattern that continues the direction. so it is expected that the pair will continue declining during today's intraday trades targeting the support level 1.3970 as the first targets of this bullish move followed by the support level 1.3875 to test it and it is the final target of this pattern.

The stability of these expectations requires the stability of the resistance level 1.4140.

Res: 1.4140 1.4232 1.4318

Pivot: 1.4054

Sup: 1.3962 1.3876 1.3784

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EUR/USD

The bearish direction is still dominating the price action of the pair for the short-term and the intraday levels as the pair during yesterday trades succeeded to break the support level 1.4070 which the pair is re-testing it now forming a flag pattern that continues the direction. so it is expected that the pair will continue declining during today's intraday trades targeting the support level 1.3970 as the first targets of this bullish move followed by the support level 1.3875 to test it and it is the final target of this pattern.

The stability of these expectations requires the stability of the resistance level 1.4140.

Res: 1.4140 1.4232 1.4318

Pivot: 1.4054

Sup: 1.3962 1.3876 1.3784

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EUR/USD

The bearish direction is still dominating the price action of the pair for the short-term and the intraday levels as the pair during yesterday trades succeeded to break the support level 1.4070 which the pair is re-testing it now forming a flag pattern that continues the direction. So it is expected that the pair will continue declining during today's intraday trades targeting the support level 1.3970 as the first targets of this bullish move followed by the support level 1.3875 to test it and it is the final target of this pattern.

The stability of these expectations requires the stability of the resistance level 1.4140.

Yesterday analysis is still remaining

Res: 1.4154 1.4209 1.4285

Pivot: 1.4078

Sup: 1.4023 1.3947 1.3892

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EUR/USD

The EUR/USD pair had a bullish move during the previous short and medium trades to close the previous trading period above the bearish trend line for the medium and long trades, where the pair is facing 23.6% correction level for the bearish move from 1.4939 to 1.3969, and if the pair was able to trade above this level it will continue rising targeting 1.4265 resistance then 1.4340 that coincides with 38.2% correction level, but in case 23.6% level held it will push down the pair to trade under the bearish trend again retesting the support level 1.4125.

Res: 1.4133 1.4179 1.4239

Pivot: 1.4073

Sup: 1.4027 1.3967 1.3921

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EUR/USD

The EUR/USD pair had a bullish move during the previous trades that reached the expected target for yesterday report at the resistance level 1.4265, facing a bearish trend the pair was able to form during the previous medium trades, which may cause the pair falling in order to retest the nearest support level such as 1.4198 represented by 23.6% correction level for the bearish move from 1.4939 to 1.3969, which depends on the stability of the mentioned resistances, but in case the pair was able to pass 1.4340 resistance level with a good close above the bearish trend, the pair will rise targeting the resistance level 1.4455 represented by 50% correction level.

Res: 1.4224 1.4284 1.4362

Pivot: 1.4146

Sup: 1.4086 1.4008 1.3948

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EUR/USD

The EUR/USD pair had a bullish move during the previous trades that reached 1.4340 resistance coinciding with 38.2% correction level for the bearish move from 1.4939 to 1.3969, to fall from this level facing the broken bearish trend with testing 1.4265 level, if the pair was able to trade above this resistance it will rise targeting 1.4455 resistance represented by 50% correction, but if the pair fall to trade under 1.4265 level it will target the retesting of 23.6% correction around 1.4198 price.

Res: 1.4364 1.4427 1.4546

Pivot: 1.4245

Sup: 1.4182 1.4063 1.400

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EUR/USD

The EUR/USD pair had a bullish move during the previous trades that reached above1.4340 resistance that represents 38.2%correction level for the bearish move (from 1.4939 to 1.3969), after falling from this level facing the broken bearish trend with testing 1.4265 level, which pushed the pair to rise targeting 1.4455 resistance represented by 50% correction, but if the pair fall to trade under 1.4265 level, it will target the retesting of 23.6% correction around 1.4198 level.

Res: 1.4318 1.4356 1.4387

Pivot: 1.4287

Sup: 1.4249 1.4218 1.4180

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