GIGFX Technical Analysis Report For Majors (Updated Daily) - page 15

 

EUR/USD

The EUR/USD formed a bottom previously at the support level 1.4105 to rise from this level approaching 38.2% correction level for the bearish move from 1.4940 to 1.3968 with the bearish trend line for the previous long trades, as if these resistances held it will push the pair to fall targeting 1.4198 price that coincide with 23.6% correction level then the previous bottom 1.4105, but the breaking of 1.4340 resistance will bring more rising for the pair targeting 1.4455 resistance that coincide with 50% correction level.

Res: 1.4351 1.4415 1.4539

Pivot: 1.4227

Sup: 1.4163 1.4039 1.3975

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EUR/USD

The EUR/USD pair rose yesterday breaking the medium bearish trend line and trading above 1.4340 level that represents 38.2% correction level for the bearish move from 1.4940 to 1.3968, to lead the expectations for further rising for the pair targeting the resistances 1.4455 represented by 50% correction level then 1.4570 represented by 61.8% correction level, which requires the stability of the current support level 1.4340.

Res: 1.4431 1.4493 1.4590

Pivot: 1.4334

Sup: 1.4272 1.4175 1.4113

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EUR/USD

The EUR/USD pair rose yesterday breaking the medium bearish trend line approaching 1.4570 resistance level that coincide with 61.8% correction level for the bearish move from 1.4940 to 1.3968, as if this level held it will push down the pair to fall searching to retest a good support level such as 1.4455 that represent 50% correction level then 1.4340 that represent 38.2% correction level, but breaking up 1.4570 resistance will push the pair for further rising targeting 1.4711 resistance level that represent 76.4% correction level.

Res: 1.4474 1.4515 1.4583

Pivot: 1.4406

Sup: 1.4365 1.4297 1.4256

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EUR/USD

The EUR/USD pair rose yesterday breaking the medium bearish trend line approaching 1.4570 resistance level that coincide with 61.8% correction level for the bearish move from 1.4940 to 1.3968, as if this level held it will push down the pair to fall searching to retest a good support level such as 1.4455 that represent 50% correction level then 1.4340 that represent 38.2% correction level, but breaking up 1.4570 resistance will push the pair for further rising targeting 1.4711 resistance level that represent 76.4% correction level.

The previous analyze remains

Res: 1.4549 1.4598 1.4659

Pivot: 1.4488

Sup: 1.4439 1.4378 1.4329

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EUR/USD

The pair continued rising during the trades of the last week reaching the resistance level 1.4550 which represents 76.4% of fibonacci's correction level for the last mid-term bearish wave forming a gartley harmonic pattern, this level is important because it is supposed to be the end of this negative pattern this led to the expectation that if this level held against the pair testing it will reflect but any bullish position are no recommended until the pair broke the support level 1.4470 during today's intraday trades with stability below it, if this expectation confirmed the pair will decline targeting the support level 1.4290 which represents 61.87% of fibonacci's correction level for the wave CD.

The stability of these expectations requires the stability of the resistance level 1.4550.

Res: 1.4574 1.4619 1.4688

Pivot: 1.4505

Sup: 1.4460 1.4391 1.4346

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EUR/USD

The pair continued rising during the trades of the last week reaching the resistance level 1.4570 which represents 76.4% of fibonacci's correction level for the last mid-term bearish wave forming a Gartley harmonic pattern, this level is supposed to be the end of this negative pattern which coincides with 61.8% correction level for the bearish move from 1.4940 to 1.3968 leading the expectations for a possible declining that will be confirmed by breaking the support level 1.4455 represented by 50% correction level targeting 1.4340 represented by 38.2% correction, but if the pair was able to trade above 1.4570 level it will rise to target 1.4711 resistance that represents 76.4% correction level.

The stability of these expectations requires the stability of the resistance level 1.4570.

Res: 1.4579 1.4618 1.4660

Pivot: 1.4537

Sup: 1.4498 1.4456 1.4417

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EUR/USD

As mentioned through the previous report that the EUR/USD pair continued rising during the trades of the last week reaching the resistance level 1.4570 which represents 76.4% of fibonacci's correction level for the last mid-term bearish wave forming a Gartley harmonic pattern, this level is supposed to be the end of this negative pattern which coincides with 61.8% correction level for the bearish move from 1.4940 to 1.3968 which reflected the bullish move leading the pair to fall facing 1.4455 level currently coinciding with 50% correction level, as if the pair was able to trade below this level it will continue falling targeting 1.4340 that coincide with 38.2% correction level, but if the pair traded above 1.4455 level it will continue rising in order to retest 1.4570 resistance.

Res: 1.4521 1.4614 1.4676

Pivot: 1.4459

Sup: 1.4366 1.4304 1.4211

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EUR/USD

As mentioned through the previous report that the EUR/USD pair continued rising during the trades of the last week reaching the resistance level 1.4570 forming a Gartley harmonic pattern, this level is supposed to be the end of this negative pattern which coincides with 61.8% correction level for the bearish move from 1.4940 to 1.3968 which reflected the bullish move leading the pair to fall trading below 1.44555 level to cause more falling for the pair to achieve the expected target for the bearish move below 1.4340 level coinciding with 61.8% correction level for the last bullish move from 1.4104 to 1.4577, the pair may rise in order to retest appropriate resistance level such 1.4455 level which with it stability it will push the pair to break down 1.4340 level targeting 1.4200 support that coincide with 23.6% correction level for the main bearish move for the long trades.

Res: 1.4427 1.4536 1.4607

Pivot: 1.4356

Sup: 1.4247 1.4176 1.4067

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EUR/USD

The EUR/USD pair fell yesterday reaching the important support level 1.4290 that represents 61.8% correction level for the CD wave for the formed harmonic pattern that reflected down the price to this level passing it to register 1.4221 as its lowest price for the yesterday trades, to close the trades above this level leading the expectations for the pair to continue rising during the intraday trades targeting the resistance level 1.4397 with a good chance that the pair may retest the support level 1.4290.

This analyze requires the stability of the support level 1.4290

Res: 1.6079 1.6155 1.6221

Pivot: 1.4319

Sup: 1.4264 1.4166 1.4111

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EUR/USD

During yesterday trades the EUR/USD pair formed a new bottom at the support level 1.4015 to near from forming the Gartley harmonic pattern which is moving now inside the last CD pattern's wave which is targeting the resistance level 1.4460 to end the pattern at this level but the resistance level 1.4280 which represents the pattern's B point with a good close must be broken before achieving this scenario.

This scenario depends on the support level 1.4015 stability.

Res: 1.4158 1.4205 1.4277

Pivot: 1.4086

Sup: 1.4039 1.3967 1.3920

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