GIGFX Technical Analysis Report For Majors (Updated Daily) - page 13

 

EUR/USD

As was expected the EUR/USD pair rose previously to approach the expected resistance level at 50% correction level for the bearish move from 1.4939 to 1.3969, forming a rising bottom at the level 1.4359, which lead the expectations for two possibilities; the first id to rise passing the resistance level 50%, which will push the pair to target 1.4520 resistance, and the second is to hold below 50% correction to break 38.2% level, which will bring more falling for the pair to retest the support level 1.4265.

Res: 1.4453 1.4511 1.4598

Pivot: 1.4366

Sup: 1.4308 1.4221 1.4163

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EUR/USD

As was expected the EUR/USD pair rose previously to approach the expected resistance level at 50% correction level for the bearish move from 1.4939 to 1.3969, to fall from this level reaching 38.2% level, forming the wave (1.2.3) that suppose to target 1.4415 resistance by passing 50% level, but if the pair was able to trade below 38.2% level, it will fall targeting 1.4198 level that represents 23.6% correction level.

Res: 1.4417 1.4506 1.4554

Pivot: 1.4369

Sup: 1.4280 1.4232 1.4143

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EUR/USD

As was expected the EUR/USD pair rose previously to achieve the expected target for the (1.2.3) wave at the level 1.4515, where the pair was able to trade above 50% correction level for the bearish move from 1.4939 to 1.3969, as if this level held it will push the pair for further rising targeting 61.8% correction level around 1.4568 price, but if the pair traded below this level it will fall in order to retest 38.2% correction around 1.4340 price.

Res: 1.4565 1.4640 1.4769

Pivot: 1.4436

Sup: 1.4361 1.4232 1.4157

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EUR/USD

As was expected the EUR/USD pair rose previously to achieve the expected target for the (1.2.3) wave at the level 1.4515, where the pair was able to trade above 50% correction level for the bearish move from 1.4939 to 1.3969, as if this level held it will push the pair for further rising targeting 61.8% correction level around 1.4568 price, but if the pair traded below this level it will fall in order to retest 38.2% correction around 1.4340 price.

Res: 1.4565 1.4640 1.4769

Pivot: 1.4436

Sup: 1.4361 1.4232 1.4157

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EUR/USD

As was expected the EUR/USD pair rose previously to pass 61.8% correction level for the bearish move from 1.4939 to 1.3969 , this bullish move came after the pair was able to stable above 50% level, which makes the next target for the pair is the level 76.4% around 1.4710 price, and that depends on the stability of 61.8% correction level, as if the pair was able to trade under this level it will fall retesting 50% correction level around 1.4455 price.

Res: 1.4700 1.4766 1.4890

Pivot: 1.4576

Sup: 1.4510 1.4386 1.4320

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EUR/USD

As was expected the EUR/USD pair rose previously to pass 61.8% correction level for the bearish move from 1.4939 to 1.3969 to fall retesting this level without trading below it , to have a bullish move forming the wave (1.2.3) that suppose to target 1.7460 resistance, but the pair must pass the previous top at 1.4675 and 76.4% around 1.4710 price, which depends on the stability of 61.8% correction level, as if the pair was able to trade under this level it will fall retesting 50% correction level around 1.4455 price.

Res: 1.4635 1.4695 1.4734

Pivot: 1.4596

Sup: 1.4536 1.4497 1.4437

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EUR/USD

Observing the EUR/USD pair, the last bullish move formed a bullish wave that suppose to target 1.4760 resistance level, which was mentioned through the previous report, achieving that target requires the breaking of 76.4% correction level for the last bearish move from 1.4940 to 1.3970 around 1.4711 price, but in case 76.4% level held as a resistance; it will push the pair down to retest 61.8% support around 1.4570 price.

Res: 1.4736 1.4782 1.4868

Pivot: 1.4650

Sup: 1.4604 1.4518 1.4472

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EUR/USD

Observing the EUR/USD pair, the last bullish move was supported by a bullish trend line for the last medium and long trades which the pair was able to retest it during the previous short period, if the pair tends to continue rising it must pass 76.4% correction level for the last bearish move from 1.4940 to 1.3970 around 1.4711 price, which will push up the pair to target 1.4825 resistance , but in case 76.4% level held as a resistance; it will push the pair down to retest 61.8% support around 1.4570 price, and if the pair was able to trade below this level it will target 1.4455 level coinciding with 50% correction level.

Res: 1.4664 1.4745 1.4795

Pivot: 1.4614

Sup: 1.4533 1.4483 1.4402

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EUR/USD

Observing the EUR/USD pair, the last bullish move stopped pushing the pair to fall breakingthe bullish trend line for the last medium and long trades after the pair was able to form the head and shoulder pattern during yesterday trades, to reflect the bullish movement breaking the pattern neck line targeting 1.4420 level as the pattern target coinciding with 38.2% correction level for the bullish move from 1.3969 to 1.4696 with a chance that the pair may retest 23.6% correction level, but in case the pair was able to pass 23.6% level it will continue rising in order to retest the nearest resistance as 1.4650 level.

Res: 1.4614 1.4718 1.4786

Pivot: 1.4546

Sup: 1.4442 1.4374 1.4270

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EUR/USD

As was expected for the EUR/USD pair, the pair fell previously to pass the expected target for the head and shoulders pattern at 1.4420 level that coincided 38.2% correction level for the bullish move from 1.3969 to 1.4696 to reach 50% level with the past week close around 1.4332, as if the pair tends to continue falling; it must pass 50% level to target then 61.8% level around 1.4246 price, but if the pair traded above 32.8% level, it will be pushed to retest 23.6% level around 1.4524 price.

Res: 1.4492 1.4634 1.4719

Pivot: 1.4407

Sup: 1.4265 1.4180 1.4038

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Reason: