GIGFX Technical Analysis Report For Majors (Updated Daily) - page 18
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EUR/USD
The EUR/USD pair continued its falling as was expected although the volatility of its prices fallowing the Swiss central bank statement that pushed the pair to reach 1.4285 price forming a top at this level that pushed the pair to fall reaching 1.3973 level forming a bottom at it, during this movement the pair was able to form a medium bearish channel as the pair faced the resistance level 1.4105 without closing above it leading the expectations during the upcoming trades that the pair might decline with the stability of the mentioned resistance with approaching the channel top line to retest the support level 1.3973 with a good chance that the top line may coincide with the resistance level 1.4170, but if the pair was able to pass the mentioned resistances it will rise to target Initially the resistance level 1.4285.
Res: 1.4166 1.4234 1.4321
Pivot: 1.4079
Sup: 1.4011 1.3924 1.3856
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EUR/USD
As was expected the EUR/USD pair fell during the previous trades to reach 1.3873 price after the resistance level 1.4105 held and breaking 1.3973 forming a bottom at this level to stop the current falling, as if the pair tends to continue that falling it must break 1.3873 support to target then the next support level at 1.3795 , with a good chance that the pair may retest the resistance level 1.3973 that may coincide with the bullish channel top line that support the bearish movement, passing the mentioned resistances will push the pair to rise targeting initially the resistance level 1.4105 in order to retest it.
Res: 1.4029 1.4178 1.4256
Pivot: 1.3951
Sup: 1.3802 1.3724 1.3575
Hotfile.com: One click file hosting: EUR.png
GBP/ USD
The GBP/USD pair is still trading inside the bearish channel, whereas it tried yesterday to achieve some gains and it registered the highest price at 1.6037 during yesterday trades but it wasn't able to continue achieving more gains which reverse it down again, a further drop is expected for it during the intraday trades targeting the support level 1.5880 but firstly it must break the support level 1.5940 with a good close below it to confirm declining.
This scenario depends on the stability of the resistance level 1.6110.
Res: 1.6056 1.6154 1.6226
Pivot: 1.5984
Sup: 1.5886 1.5814 1.5716
Hotfile.com: One click file hosting: GBP.png
USD/CHF
The USD/CHF pair was able to pass the resistance level 0.8625 previously to reach the expected resistance level in the rising case 0.8770, giving the previous rising more sharpness affected by the Swiss National Bank’s decision, as if the pair tends to continue that rise it must pass the current resistance level 0.8770 to target then 0.8940 resistance, but the bullish channel top line that the pair is facing currently might slow that rise and may push the pair to retest the nearest support levels such as 0.8570 and 0.8413
Res: 0.8824 0.8894 0.9019
Pivot: 0.8699
Sup: 0.8629 0.8504 0.8434
Hotfile.com: One click file hosting: CHF.png
USD/CAD
The pair is trading above the bullish trendline that has been formed for near and mid-term trades so it is expected that the pair will target the resistance level 0.9916 and if the pair held above this level it will target the resistance level 0.9959.
The stability of these expectations requires the stability of the support level 0.9845.
Res: 0.9915 0.9939 0.9983
Pivot: 0.9871
Sup: 0.9847 0.9803 0.9779
Hotfile.com: One click file hosting: CAD.png
EUR/USD
As observed that, the EUR/USD pair formed a short and medium-terms bearish directions whereas the hard declining for the EUR against the hard rising for the USD is observed, with this week trades beginning the pair registered a bearish price gap which came to confirm the strength of the dominant bearish direction for the EUR/USD pair trades, whereas continuing this bearish move is expected till the support level 1.3398 which represents 161.8% Fibonacci retracement continuous level for the bullish direction (from 1.3837 to 1.4548) the expected condition for breaking the level 1.3500, if the covered all the price gap with breaking up the resistance level 1.3645 so it's likely that this will be a strong sign for beginning a bearish corrective direction and the pair will retest the resistance level 1.3837.
Res: 1.3857 1.4051 1.4166
Pivot: 1.3742
Sup: 1.3548 1.3433 1.3239
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EUR/USD
During yesterday trades the EUR/USD pair didn't achieve a price below the level 1.3500 achieving a daily close to cover all the bearish gap, this close represents a strong signal for beginning forming a bullish corrective direction, it's expected that the pair will initially target the level 1.3747, breaking this level up means rising till the next corrective level at 1.3900 which represents 38.2% Fibonacci retracement correction level for the bearish direction (from 1.4548 to 1.3500), this scenario depends on the stability of the support level 1.3500, breaking this level down means a further drop till the support level 1.3398 which represents 161.8% Fibonacci retracement continuous direction for the bullish direction (from 1.3837 to 1.4548).
Res: 1.3747 1.3815 1.3938
Pivot: 1.3624
Sup: 1.3556 1.3433 1.3365
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EUR/USD
As was expected through the previous report, yesterday EUR/USD trades was bullish for the second consecutive day, whereas testing the resistance level 1.3747 was expected, to form a bearish top at this level pushed the pair down during the last intraday trades, between declining and rising it's observed that the pair is forming a bearish flag pattern which came to support forming the bearish directions, in condition; the flag's lower border must be broken and having a good close below it then the pair will test the support level 1.3500 which represents breaking it down, this indicates a further drop till the support level 1.3398 which represents 161.8% Fibonacci continuous bullish direction (from 1.3837 to 1.4548), this bearish scenario depends on the stability of the resistance level 1.3747 breaking this level up with breaking the bearish trend line means an initial rise till the next resistance level at 1.3900.
Res: 1.3758 1.3839 1.3939
Pivot: 1.3658
Sup: 1.3577 1.3477 1.3396
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EUR/USD
The EUR/USD pair continues rising inside the bearish flag pattern as was expected, yesterday trades saw a new bullish move for the third consecutive day, the pair rose up testing the resistance level 1.3747 achieving the highest price for yesterday trades at the level 1.3783 without closing above the level 1.3747, it's expected that the pair will test the pattern's lower border trying to break it down to continue declining initially till the level 1.3500 but this scenario depends on the stability of the resistance area which is between the level 1.3747 and 1.3783 which coincides at it the medium-term bearish trend line, breaking this area means continuing the bullish move till the resistance level 1.3900.
Res: 1.3828 1.3901 1.4020
Pivot: 1.3709
Sup: 1.3636 1.3517 1.3444
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EUR/USD
For the 4th consecutive day, the EUR/USD pair yesterday trades saw a further rise, as was expected through the previous report that, the pair broke the confined resistance area between the level 1.3747 and the level 1.3783 continuing the bullish move till the level 1.3900 which represents 38.2% Fibonacci retracement correction level for the bearish direction (from 1.4548 to 1.3500) coinciding this level with the medium-term bearish trend line so forming a top pushed the pair down during the last intraday trades were seen, it's expected that the pair will continue declining to retest the support area between the level 1.3783, 1.3747, breaking this area down means declining again till the level 1.3500 during the next short-term trades, breaking up the level 1.3900 means continuing the bullish move again till the next support level at 1.4024.
Res: 1.3973 1.4071 1.4206
Pivot: 1.3838
Sup: 1.3740 1.3605 1.3507
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EUR/USD
Yesterday, the pair failed to break the resistance level 1.3712 which represents the bottom barrier of the bearish gap that has been formed at the beginning of this week#s trades so the pair failed to cover the whole gap to continue declining till it formed a bearish bottom at the support level 1.3585, the pair is still tradinf above this level ina strong sign to continue rising again to test the resistance level 1.3712 which with its breaking upside means more rising targeting the level 1.3802 which represents 61.8% of fibonacci's correction level for the bearish move (from 1.3936 to 1.3585), breaking the support level 1.3585 means more declining till the support level 1.3500.
Res: 1.3740 1.3796 1.3873
Pivot: 1.3663
Sup: 1.3607 1.3530 1.3474
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EUR/USD
The European currency achieved some gains yesterday by rising against the U.S. dollar reaching the highest price at the level 1.3743, it was expected that the pair will rose targeting to re-test the resistance level 1.3712 that the pair was unable to hold below it till this moment, this level coincides with the bearish trendline for mid-term trades so it is hard to break this area upside, it is expected that the pair will decline again targeting the support level 1.3585 followed by the level 1.3500, this scenario requires the stability of coinciding area of the bearish trendline with the resistance level 1.3712, breaking this area upside means more rising targeting the level 1.3900.
Res: 1.3765 1.3829 1.3916
Pivot: 1.3678
Sup: 1.3614 1.3527 1.3463
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EUR/USD
As it was expected through the last analysis, the pair continued declining reaching the support level 1.3585 after it failed to break the resistance level 1.3712 coinciding with the bearish trendline for mid-term trades, the pair continued declining breaking the support level 1.3585 which represents the point B of the harmonic pattern AB=CD which is being forming, it is expected that the pair will continue declining targeting the area of the point D that completes the harmonic pattern and which locates between the level 1.3440 and the support level 1.3385 which represents 127% of fibonacci's continuous level for the bullish move (from 1.3500 to 1.3936), in order to reach this area the pair should break the support level 1.3500.
The stability of these expectations requires the stability of the resistance level 1.3630.
Res: 1.3724 1.3876 1.3956
Pivot: 1.3644
Sup: 1.3492 1.3412 1.3260
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