GIGFX Technical Analysis Report For Majors (Updated Daily) - page 20
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EUR/USD
After the pair has re-tested the bottom border of the bullish channel for mid-term trades it rose from the support level 1.3852 to reach its expected targets through the last analysis reaching the resistance level 1.4223 which coincides with 76.4% of fibonacci's correction level for the bearish wave (from 1.4525 to 1.3146) coinciding with testing the top border of the bullish channel, this may led the pair to correct targeting to test the near support level which extends to the support area (from 1.4018 which represents 61.8% of fibonacci's correction level to the level 1.3960) the pair will continue rising for mid and long-term trades targeting the resistance level 1.4380.
Res: 1.4335 1.4482 1.4717
Pivot: 1.4100
Sup: 1.3953 1.3718 1.3571
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EUR/USD
As it was expected through the last analysis, the European currency continued declining against the U.S. dollar till the support level 1.3971 which failed to prevent the pair to decline so the pair continued declining till the next support level at 1.3905 followed by the support level 1.3800 during the last trades, if the pair reached these levels means breaking the bottom border of the bullish channel for mid-term trades so it is expected that the pair will continue declining targeting to break the bullish channel by breaking the support level 1.3524 which represents 161.8% of fibonacci's continuous level for the bullish move (From 1.3800 to 1.4247) but under the condition of breaking the support level 1.3800 and 1.3679.
The stability of these expectations requires the stability of the resistance level 1.3905.
Res: 1.4076 1.4292 1.4416
Pivot: 1.3952
Sup: 1.3736 1.3612 1.3396
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EUR/USD
The European currency continued declining against the U.S. dollar as it was expected through the last analysis breaking the level 1.3800 achieving the lowest price for yesterday trades at the level 1.3608, the pair formed a bottom at this level during the last intraday trades trying to correct its declining and it is expected that the pair will test the level 1.3800 which became a resistance level to form a bearish top that will push the pair to decline to re-test the level 1.3608, breaking this level downside means more declining to re-test the support level 1.3524 which represents 161.8% of fibonacci's continuous level for the bullish move (From 1.3800 to 1.4247) and at the same time it is represents the target of breaking out the bullish channel.
The stability of these expectations requires the stability of the resistance level 1.3800.
Res: 1.3843 1.3987 1.4105
Pivot: 1.3725
Sup: 1.3581 1.3463 1.3319
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EUR/USD
During yesterday trades, the pair rose re-testing the percentage 50.0% of fibonacci's correction level for the bearish wave (From 1.4525 to 1.3146) forming a bearish top at this level and pushed the pair to decline again to face 38.2% of fibonacci's correction level during the current trades, it is expected that the pair will continue declining but under the condition of breaking the support level 1.3655 which coincides with 38.2% of the same correction level to target the level 1.3471 which coincides with 23.6% correction, but if the mentioned support level held it will push the pair to rise in order to re-test the resistance level 1.3836 which coincides with 50.0% correction level.
Res: 1.3837 1.3927 1.4027
Pivot: 1.3737
Sup: 1.3647 1.3547 1.3457
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EUR/USD
It is noticed that the pair formed a near-term bullish channel during the last trades and now the pair is trading below the resistance level 1.3847 which represents 50.0% of fibonacci's correction level for the bearish wave (From 1.4547 to 1.3146, it is expected that the pair will continue declining targeting to re-test the bottom border of the mentioned channel and if the pair succeeded to do with breaking the level 1.3681 so it will continue declining targeting the level 1.3477 which represents 23.6% of fibonacci's correction level, but if the pair broke the top border of the triangle pattern with breaking the resistance level 1.3847 it will rise targeting the level 1.4012 which represents 61.8% of fibonacci's correction level, this may coincides with re-testing the top border of the mentioned channel.
Res: 1.3878 1.3922 1.3999
Pivot: 1.3801
Sup: 1.3757 1.3680 1.3636
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EUR/USD
As it was expected through the last analysis, the pair declined breaking the bottom border of the bullish channel for near-term with the symmetric triangle due to the stability of the resistance level 1.3847 which represents 50.0% of fibonacci's correction level for the bearish move (from 1.4547 to 1.3146), the pair reached the level 1.3477 which represents the target of the mentioned patterns and also coincides with 23.6% of fibonacci's correction level, it is expected that if the pair tended to decline during the upcoming near-term trades it has to break the level 1.3477 then it will target the level 1.3360, but if the level 1.3477 held it may push the pair to rise in order to re-test the near resistance level such as 1.3681.
Yesterday analysis is still remaining till now
Res: 1.3678 1.3749 1.3846
Pivot: 1.3581
Sup: 1.3510 1.3413 1.3342
GBP/ USD
As was expected yesterday, after the GBP/USD pair formed the (reversal bullish wedge) for the near-term and the intraday levels, the pair declined breaking the wedge's lower border targeting the support level 1.5925; the negative signals are still appearing till now so forming the (double consecutive tops) reversal pattern for the bullish direction through the mid and near-terms is noticed , this pattern represents the support level 1.5890 which is the baseline for this pattern, if the price broke this level with a good close below it; the price will target to reach the support level 1.5750 as it's first target for this formed pattern.
This scenario depends on the stability of the resistance level 1.6000.
Previous analysis is still remaining till now
Res: 1.5989 1.6045 1.6106
Pivot: 1.5928
Sup: 1.5872 1.5811 1.5755
USD/CHF
The pair is moving inside a bullish channel for near and mid-term trades, trying to form a bullish bottom at the support level 0.9030 which coincides with the bottom border of the channel so it is expected that the pair will rise targeting to re-test the resistance level 0.9123 and if the pair held above this level it will target the resistance level 0.9202 which coincides with the top border of the channel.
The stability of these expectations requires the stability of the support level 0.9030.
Res: 0.9105 0.9161 0.9173
Pivot: 0.9093
Sup: 0.9037 0.9025 0.8969
USD/CAD
After the USD/CAD pair is moving between a short bullish channel range, as the pair rose during the previous trades testing the resistance level 1.0222 coinciding with 50% correction level for the bearish move from 1.0655 to 0.9889 forming the top board for the channel, the pair direction remain bearishly as long as the pair remain below 50% correction level, as it is expected for the pair to fall in order to retest the support level 1.0075 which may cause the breaking of the channel coinciding with 23.6% correction level leading the pair to the bearish direction, but breaking up 50% correction level at 1.0272 will push the pair to rise targeting 1.0340 level coinciding with 61.8% correction level.
Res: 1.0232 1.0299 1.0334
Pivot: 1.0197
Sup: 1.0130 1.0095 1.0028
AUD/USD
As it was expected through yesterday report, the pair declined to the level 1.0055 which represents 50.0% of fibonacci's correction level for the last bullish wave (from 0.9380 to 1.0725) after breaking the support level 1.0130 and after standing at the level 1.0055 with no breaking which led the pair to rise again to re-test the near resistance level at 1.0215 which represents 38.2% of fibonacci's correction level for the same last bullish wave, it is expected that the pair will continue declining targeting the support level 0.9900 which represents 61.8% of the same correction levels but under the condition of breaking the support level 1.0055.
The stability of these expectations requires the stability of the resistance level 1.0215.
Res: 1.0216 1.0290 1.0372
Pivot: 1.0134
Sup: 1.0060 0.9978 0.9904
[ATTACH]10375[/ATTACH]
EUR/USD
The bearish direction is still dominating the expectations of the pair after holding the level 1.3477 which pushed the pair rising during the last trades re-testing the bottom border of the bottom border of the symmetric triangle and the bullish channel that has been broken before, it is expected that the pair will decline during the upcoming trades trying to reach the support level 1.3681 which represents 38.2% of fibonacci's correction level for the bearish wave (From 1.4547 to 1.3146) targeting the support level 1.3477 coinciding with 23.6% followed by 1.3360 this expectation depends on the stability of the current resistance level 1.3681 which with its breaking the pair will target a higher resistance level such as 1.3847 coinciding with 38.2% of the same correction levels.
Res: 1.3765 1.3898 1.3985
Pivot: 1.3678
Sup: 1.3545 1.3458 1.3325
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EUR/USD
Yesterday trades were confusing between rising and declining and it were in a narrow range that reflects the collecting of the needed momentum which will determine the next direction of the pair as it is waited that the pair will break the resistance level 1.3555 which represents the top of the double bottom pattern then it will rise targeting the level 1.3719 which represents the target of the pattern, it is expected that the price will coincide with the top border of the bearish channel in which the pair is still moving at the level 1.3719.
The stability of these expectations requires the stability of the support level 1.3422.
Res: 1.3524 1.3590 1.3641
Pivot: 1.3473
Sup: 1.3407 1.3356 1.3290
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EUR/USD
The trades of the end of the last week saw more rising for the European currency against the U.S. dollar whereas the pair continued rising till reached the level 1.3617 which represents 50.0% of fibonacci's correction level for the bearish wave (From 1.3811 to 1.3422) forming a top that pushed the pair downside to the support level 1.3514 at the beginning of this week trades the pair was trading around the support level 1.3514, breaking this level downside means more declining to the next support level at 1.3422 but if the pair held above this level it will rise targeting the resistance level 1.3617 which with its breaking upside means more rising to the level 1.3662 followed by 1.3719.
Res: 1.3606 1.3693 1.3773
Pivot: 1.3526
Sup: 1.3439 1.3359 1.3272
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EUR/USD
As it was expected yesterday, the pair succeeded to break the support level 1.3514 and continued declining till reached the support level 1.3422 to form a new bottom at this area that the pair will use it to rise again, during the last intraday trades the pair was trying to break the level 1.3514 upside, this level became a resistance level and if the pair succeeded to break this level it will continue rising targeting the level 1.3617 again.
The stability of these expectations requires the stability of the support level 1.3422.
Res: 1.3542 1.3596 1.3652
Pivot: 1.3486
Sup: 1.3432 1.3376 1.3322
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