GIGFX Technical Analysis Report For Majors (Updated Daily) - page 22
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EUR/USD
As it was expected, the single currency declined against the U.S. dollar and re-tested the support level 1.3080 coinciding with the bottom border of the bullish channel then it reflected from these levels to continue rising during the last near and intraday trades, it is expected that the pair will continue rising targeting to re-test the resistance level 1.3245 and trying to break it with holding above it targeting the level 1.3350, holding the bottom border of the channel and the support level 1.3080 will push the pair to continue rising, but if the pair traded below the bottom border of the channel and with holding the pair below the level 1.3080, the pair will decline to re-test the near support levels such as 1.2980 and 1.2912.
R3 R2 R1 P S1 S2 S3
1.3250 1.3224 1.3211 1.3185 1.3172 1.3146 1.3133
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EUR/USD
The single currency advanced against the U.S. dollar during the last trades to test the bottom border of the bullish wedge pattern then it declined to reach the resistance level 1.3245 breaking the bottom border of the bullish channel then it is trading around the support level 1.3080 which shifted the previous expectations of rising the pair during the near-term trades to continue its long and mid-term bearish direction, it is also noticed that, the pair formed the reversal head and shoulders pattern whereas the support level 1.3080 is the neckline of the pattern that if the pair held below, it is expected to decline targeting the level 1.3000 followed by the level 1.2925 which represents the taget of the harmonic pattern head and shoulders and also it coincides with the target of breaking the bullish channel but under the condition of holding the pair below the level 1.3080 that if the pair held above, the pair will re-test the bottom border of the broken channel with forming bearish tops that the pair will use it to break the level 1.3080.
Res: 1.3184 1.3284 1.3354
Pivot: 1.3114
Sup: 1.3014 1.2944 1.2844
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EUR/USD
Yesterday, the common currency tried to decline but it rose against the U.S. dollar after holding the support level 1.3080 to test the bottom border of the bullish channel that has been broken previously, now, the pair is trying to trades above the top border of the channel and if the pair succeeded to do so, it should break the resistance level 1.3245 to confirm this bullish move then it may target the level 1.3350, on the other hand, if the level 1.3245 held, the pair will decline outside the range of the channel targeting to break the level 1.3080 then it may target the level 1.3000 followed by 1.2925.
Res: 1.3242 1.3325 1.3432
Pivot: 1.3135
Sup: 1.3052 1.2945 1.2862
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EUR/USD
The EUR/USD succeeded to break the bottom border of the long and mid-term bullish channel and then it tested the support level 1.3080 then it rose from this level to test the bottom border of the channel again, the pair declined after testing the bottom border of the channel to trade around the level 1.3080 during the last intraday trades. It is expected that the pair will continue declining targeting to break the support area between the levels 1.3080 and 1.3025 then it may decline again targeting the support level 1.2925 which coincides with the target of breaking the channel, but if the pair held above the level 1.3080 it will rise again re-testing the near resistance level reaching the level 1.3245.
Res: 1.3210 1.3275 1.3346
Pivot: 1.3139
Sup: 1.3074 1.3003 1.2938
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EUR/USD
The EUR/USD failed to break the support area between the levels 1.3080 and 1.3025 as it rose from the level 1.3025 to trade above the level 1.3080 during the current trades, generally, holding the pair above the bottom border of the channel supports the bullish direction of the pair and it is expected to target the resistance levels 1.3245 followed by 1.3350. but if the pair broke the level 1.3025 it may decline targeting the support level 1.2925 which represents the target of breaking the bullish channel.
Res: 1.3172 1.3213 1.3284
Pivot: 1.3101
Sup: 1.3060 1.2989 1.2948
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EUR/USD
As it was expected, the pair rose after holding the support area between the levels 1.3080 and 1.3025, it reached the level 1.3025 to trade above the level 1.3080, then it rose near the resistance level 1.3245 during the current trades, it is expected that, if the pair tended to rise it will break the current resistance level targeting the resistance level 1.3350 which may coincide with testing the bottom border of the broken channel, but if the resistance level 1.3245 held, the pair will decline alittle targeting to test the near support levels which may push the pair to test the support area between the levels 1.3080 and 1.3025.
Res: 1.3324 1.3386 1.3502
Pivot: 1.3208
Sup: 1.3146 1.3030 1.2968
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EUR/USD
The last trades of EUR/USD were in a narrow range near the level 1.3245 that the pair reached after holding the support area between the levels 1.3080 and 1.3025 as it was expected previously. It is expected that, the pair tends to continue rising it will break the current resistance level targeting the resistance level 1.3350 which may coincide with testing the bottom border of the broken channel, but if the resistance level 1.3245 held, the prices will retreat targeting to test the near support levels and it may test the support area between the support levels 1.3080 and 1.3025.
Res: 1.3292 1.3322 1.3356
Pivot: 1.3258
Sup: 1.3228 1.3194 1.3164
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EUR/USD
The narrow range is still dominating the trades of the single currency against the U.S. dollar between the levels 1.3320 and 1.3215, it is expected that, the pair may decline breaking the level 1.3215 to target the support area between the levels 1.3080 and 1.3025, or, it may break the resistance level 1.3320 targeting the level 1.3430, but the expectations tend to be bearish as the pair broke the bullish channel.
Res: 1.3332 1.3377 1.3434
Pivot: 1.3275
Sup: 1.3230 1.3173 1.3128
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EUR/USD
The EUR/USD broke the bottom border of the bullish channel for the last mid-term trades during the last trades and broke also the bullish trendline for the long-term trades which led the pair to decline to face the support area between the levels 1.3080 and 1.3025, trading the pair below the level 1.3025 may push it to continue its last bearish move targeting the support level 1.2950 as an initial target followed by the level 1.2850 which represents the target of breaking the mentioned channel, but also the pair probably may test the bottom border of the broken channel and may retest one of the near resistance level like 1.3125.
Res: 1.3157 1.3246 1.3301
Pivot: 1.3102
Sup: 1.3013 1.2958 1.2869
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EUR/USD
The single currency rose against the U.S. dollar breaking the level 1.3370 during the last trades, then, it faced the resistance level 1.3475 during the current trades. It is noticed that, the pair is forming a mid-term bullish channel, whereas, it is expected that, if the level 1.3475 held, the pair will decline testing the near support level 1.3370 which may coincide with the lower border of the mentioned channel, but if the pair traded above the level 1.3475, it may rise targeting the resistance level 1.3600.
Res: 1.3511 1.3564 1.3641
Pivot: 1.3434
Sup: 1.3381 1.3304 1.3251
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