GIGFX Technical Analysis Report For Majors (Updated Daily) - page 2
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EURUSD
Yesterday trades reflect optimism that controls investors towards high yield currencies and the most risky so, the European currency rose against the U.S dollar, it is mentioned through yesterday report that, if the pair could not hold the stability of 1.3175 support and broke the short-term bearish trend line, the pair will continue rising till reach 1.3427, and this is what happened already, whereas, the pair registered the highest price during yesterday trades by reaching 1.3433. Now, the pair is trading under 1.3427 resistance which represents the (B) point for Gartley negative harmonic pattern that is mentioned through the previous reports. Breaking the resistance point (B) means more rising till reaching (D) point which completes the pattern and located between the level 1.3592 which represents 76.4% Fibonacci correction level for the rib (XA), and the level 1.3655 which represents 200% Fibonacci continuous level for the rib (BC).
The stability of these expectations requires the stability of 1.3280 support.
Res. 1.3488 1.3586 1.3739
Pivot 1.3335
Sup. 1.3237 1.3084 1.2986
[ATTACH]7493[/ATTACH]
GBPUSD
The pair is still holding the short-term and intraday levels bullish movement till now. And it is noticed that, the pair is moving inside a bullish channel and tested its bottom boarder yesterday and reflected up again testing 1.5890 resistance which has been mentioned previously with the expectation that, the pair will continue rising during the intraday levels of today targeting 1.5890 resistance which represents 61.8% Fibonacci correction level and also coincides with the top boarder of this bullish channel.
The stability of these expectations requires the stability of 1.5790 support.
RES. 1.5931 1.6002 1.6108
Pivot 1.5825
Sup. 1.5757 1.5646 1.5577
[ATTACH]7494[/ATTACH]
USDCHF
The pair is still moving bearishly till now, though, it could break 0.9725 to confirm forming the harmonic pattern AB=CD which still in forming stage of its last wave CD which its target supposed to be at 0.9575 support, so, it is expected that, the pair will continue declining during the intraday trades of today targeting this level, this expectation will be more confirmed by breaking 0.9675 support which represents 76.4% Fibonacci correction level for the medium-period last bullish wave.
The stability of these expectations requires the stability of 0.9725 resistance.
RES. 0.9802 0.9927 1.0004
Pivot 0.9725
Sup. 0.9600 0.9523 0.9398
[ATTACH]7492[/ATTACH]
USDCAD
As expected in yesterday report that the pair has broke the bottom board for the triangle pattern continuing falling till it achieved the lowest price for yesterday trades at the level 1.0027, the pair formed a bottom at this level rose from it again to retest the broken bottom board which is near the intraday trades, expecting forming a bearish top at this board then falling till the level 1.0004 which represents the target price for the pattern which with breaking it down; means falling till the support level 0.9977.
This expectation depends on the stability of the resistance level 1.0090.
Res. 1.0113 1.0150 1.0195
Pivot 1.0070
Sup. 1.0031 0.9988 0.9949
[ATTACH]7491[/ATTACH]
AUDUSD
The pair formed a bottom at the support level 0.9750 which represents 50% Fibonacci retracement for the rib (AB) for the harmonic pattern AB=CD which is still in the forming process and will be confirmed with breaking the confined area which is between the level 0.9936 which represents 61.8% Fibonacci retracement level for the bearish direction ( from 10182 to 0.9538 ) and the level 0.9965 which represents the ( B ) point. it's expected in the next trades that the bullish action will be continued till the mentioned area, after breaking the level of the ( B ) point; the pair will continue rising till the level 1.0182 which represents the complement ( D ) point for the harmonic pattern. To reach this level; the resistance level 1.0030 must be broken.
This expectation depends on the stability of the support level 0.9750.
The previous analyze remains till this moment
Res. 1.0019 1.0077 1.0170
Pivot 0.9926
Sup. 0.9868 0.9775 0.9717
[ATTACH]7490[/ATTACH]
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section.
EURUSD
Seems that optimism that controls investors towards the high yield and more risky currencies did not remain along whereas, the American good data released yesterday and the statements of the Federal Reserve assured the continuation of the American economic recovery toward rising dollar again against euro.
It is noticed through this chart that, the pair didn't trade for a long time above the resistance level 1.3427 for the bullish wave that began from the point (C) for the negative harmonic pattern Gartley, and as it was mentioned yesterday, the level 1.3427 represents the point (B). The pair didn't succeed to achieve a good close above this level forming some reflective candles giving a sign of the probability of non-completing the harmonic pattern which its failure will be confirmed by breaking the support level 1.3281which is expected to coincide with the bullish trend line that matches the point (A) with (B), but if the pair formed a bottom at this area, it will rise again to re-test the resistance level 1.3427 which with its breaking the pair will continue forming the rib (CD). But in the case of failing the pair to form this bottom, the pair will decline till reaching the level 1.3175 which with its breaking, the pair will continue forming a bearish direction toward the support level 1.2969
Res. 1.3464 1.3545 1.3597
Pivot 1.3412
Sup. 1.3327 1.3277 1.3192
[ATTACH]7502[/ATTACH]
GBPUSD
Resistance level 1.5890 was able to hold against the pair rising yesterday, the pair failed to break it and reflected down as it was not expected that it will continue rising, the pair even also broke the short-term and intraday levels bullish trend line and also is breaking down the simple moving average for (50) past candlesticks. If trades continued below 1.5770, more drop below is expected for the pair during the intraday trades of today targeting 1.5655support level as the first target for this declining then will target 1.5535 support level.
The stability of these expectations requires the stability of 1.5770 resistance level.
RES. 1.5876 1.5979 1.6048
Pivot 1.5808
Sup. 1.5707 1.5636 1.5532
[ATTACH]7503[/ATTACH]
USDCHF
As expected yesterday, the pair succeeded to reach the target of the wave (CD) at 0.9575 support that was mentioned through yesterday report and still stable till now, the pair reflected up with expectations of more rising during the upcoming trades targeting to re-test 0.9675 resistance level and also the top boarder of this bearish channel in which the pair is moving through the medium-term trades, this movement may continue in order to test 0.9725 resistance.
The stability of these expectations requires the stability of 0.9575 support level.
RES. 0.9670 0.9744 0.9798
Pivot 0.9616
Sup. 0.9542 0.9488 0.9414
[ATTACH]7500[/ATTACH]
USDCAD
The pair has ended the Triangle pattern’s target by reaching level 1.0027 which formed at it a second consecutive bottom supported by the bullish trend line for the short period. Trades now are at the resistance level 1.0090, breaking this level will help the pair to rise till the resistance level 1.0145 which represents 50% Fibonacci retracement correction level for the bearish direction (from 1.0286 to 1.0004) but breaking the support level 1.0145 means reaching the next resistance level at the level 1.0178; this bullish scenario is the likely to happen during the next upcoming trades
This expectation depends on the stability of the support level 1.0027.
Res. 1.0103 1.0147 1.0185
Pivot 1.0066
Sup. 1.0023 0.9988 0.9942
[ATTACH]7501[/ATTACH]
AUDUSD
It was mentioned in the previous reports that if the pair achieves a good breaking for the resistance level 0.9965 which represents the ( B ) point for the harmonic pattern AB=CD the pair will continue rising till the level1.0182 which represents the complement ( D ) point for the harmonic pattern, reaching this level; the resistance level 1.0030 must be broken and this is what has happened during yesterday trades where the pair has succeeded on breaking the resistance level for the ( B ) point to continue rising till it reached the resistance level 1.0030 which has failed of breaking it up to form a top that pushed the pair down to retest the nearest support levels, one of which is the level 0.9965 which has failed to stop the pair declining and the pair continued falling to retest the bullish trend line which matches the point ( A )and the ( C ) point. Breaking this line downwards means the failure of completing the harmonic pattern, then falling to the support level 0.9750.
Res. 1.0029 1.0066 1.0111
Pivot 0.9985
Sup. 0.9845 0.9902 0.9862
[ATTACH]7499[/ATTACH]
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section.
EURUSD
As it was expected through yesterday report, the probability of forming a positive harmonic pattern (AB=CD) has been achieved, this pattern was completed at the level 1.3198 which represents 50% Fibonacci retracement level for the bullish direction (from 1.2969 to 1.3427), the pair formed a bottom at this level and used it to push rising till now. it is expected that, the pair will continue rising till reach the bearish trend line which matches the (A) point with the (B) point, at which the price is expected to coincide with the resistance level 1.3377 which represents 50% Fibonacci retracement level for the bearish direction (from 1.3785 to 1.2969). If the pair was able to break this area, it will continue rising till reach the resistance level 1.3427 which represents the (B) point for a Gartley negative harmonic pattern that is still in the forming stage and that will be confirmed with breaking this resistance. The rib (BC) represents 50% Fibonacci retracement level for the rib (AB). so, it is expected that, this pattern will be confirmed with reaching the (D) point which is located between the level 1.3592 which represents 76.4% Fibonacci retracement level for the rib (XA), and the level 1.3655 which represents 200% Fibonacci continuous level for the rib (BC).
The stability of these expectations requires the stability of the © point which represents the support level 1.3198.
Res. 1.3301 1.3340 1.3401
Pivot 1.3240
Sup. 1.3201 1.3140 1.3101
[ATTACH]7511[/ATTACH]
GBPUSD
Yesterday, the pair succeeded to reflect its direction and rose for the short period after hitting the resistance level 1.5675 which represents 23.6% Fibonacci retracement level for the last bearish medium-term wave, and reflected up to close above the resistance level 1.5790 which represents 38.2% Fibonacci retracement level and more rising is expected for the pair during the upcoming trades targeting the resistance level 1.5985 which represents 61.8% Fibonacci retracement level but first it should break the first resistance level 1.5890.
The stability of these expectations requires the stability of the support level 1.5790.
RES. 1.5869 1.5934 1.6037
Pivot 1.5768
Sup. 1.5701 1.5600 1.5533
[ATTACH]7512[/ATTACH]
USDCHF
The pair failed yesterday to gain more rising where it could not break up the resistance level 0.9895 but reflected back downwards trying to test the support level 0.9805 so, yesterday's expectations have been changed for the short term and intraday levels.
The pair is moving inside bullish channel till now for the short-term and intraday levels, so any bearish positions are not recommended until breaking the support level 0.9805 which represents 23.6% Fibonacci retracement level for the last short-term bearish wave
And also coincides with the bottom boarder of this channel in which the pair is moving.
These expectations require the stability of the resistance level 0.9895.
Yesterday analysis is still remaining till now.
RES. 0.9901 0.9941 0.9967
Pivot 0.9875
Sup. 0.9836 0.9809 0.9769
[ATTACH]7510[/ATTACH]
USDCAD
During yesterday trades the pair formed a top near the 1.0145 level which represents 50% Fibonacci retracement level for the bearish direction ( from 1.0286 to 1.0004 ) that pushed it down retesting the support level 1.0080 and forming a new bottom at this level, to continue at then the trades to be volatile and confused. with breaking several different levels it will determine the next trades directions, if the pair breaks the support level 1.0080 the pair will continue falling targeting the support level 1.0025 which may coincide at it the price with the bullish trend line for the medium period but in case of breaking the resistance level 1.0145 the pair will continue rising targeting the level 1.0219 which represents 76.4% Fibonacci retracement level for the latest mentioned bearish direction.
Res. 1.0148 1.0185 1.0227
Pivot 1.0105
Sup. 1.0070 1.0027 0.9992
[ATTACH]7509[/ATTACH]
AUDUSD
The pair formed a bottom at the support level 0.9750 which represents 50% Fibonacci retracement for the rib ( AB ) for the harmonic pattern AB=CD which is still in the forming process and will be confirmed with breaking the confined area which is between the level 0.9936 which represents 61.8% Fibonacci retracement level for the bearish direction ( from 10182 to 0.9538 ) and the level 0.9965 which represents the ( B ) point. it's expected in the next trades that the bullish action will be continued till the mentioned area, after breaking the level of the ( B ) point; the pair will continue rising till the level 1.0182 which represents the complement ( D ) point for the harmonic pattern. To reach this level; the resistance level 1.0030 must be broken.
This expectation depends on the stability of the support level 0.9750.
Res. 0.9849 0.9902 0.9951
Pivot 0.9800
Sup. 0.9747 0.9698 0.9645
[ATTACH]7508[/ATTACH]
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section.
EURUSD
As it was expected yesterday, the pair formed a bearish top at the board of the broken down bullish trend line from which, the pair was pushed down testing the important support level 1.3175 which succeeded to stop the pair’s declining and at which a new bottom was formed and returned the pair into a bullish move again during the last intraday trades
It is noticed during the current trades, the pair is trying to confirm breaking the resistance level 1.3281 which coincides with the broken bullish trend line. If the pair succeeded to confirm this breaking with a good close above these levels, it will continue rising targeting the resistance level 1.3377 which with its breaking, the pair will rise till reach the level 1.3473 again.
Res. 1.3279 1.3314 1.3363
Pivot 1.3230
Sup. 1.3195 1.3046 1.3111
[ATTACH]7520[/ATTACH]
GBPUSD
The support level 1.5535 held against the pair testing yesterday, the pair reflected up re-testing the level 1.5655 which still holds against the pair till now. During the upcoming intraday trades it is expected that the pair will decline targeting the support level 1.5535 again, and in the case of breaking it down the pair will target the support level 1.4530, and what confirms this expectation is the existence of a negative divergence for the pair on the stochastic index below the chart.
The stability of these expectations requires the stability of the resistance level 1.5655.
RES. 1.5666 1.5700 1.5764
Pivot 1.5602
Sup. 1.5568 1.5504 1.5470
[ATTACH]7521[/ATTACH]
USDCHF
As it was expected yesterday, the pair succeeded to reach the resistance level 0.9725 which held and caused reflecting the pair down in order to continue its short-term bearish move, breaking the support level 0.9575 with the expectation that it will continue declining in the case of breaking this level, targeting the support level 0.9495 then 0.9415 during the upcoming intraday trades.
The stability of these expectations requires the stability of the resistance level 0.9675.
RES. 0.9705 0.9766 0.9798
Pivot 0.9673
Sup. 0.9612 0.9580 0.9519
[ATTACH]7517[/ATTACH]
USDCAD
As noticed in the chart, the pair formed a continuation pattern which is the symmetrical triangle; this pattern supports the dominant bearish direction for the pair during the last trades for the medium period. it's expected that after breaking the bottom boarder for the pattern, the pair will continue falling till it reach the targeted price for the pattern at the level 0.9920 which also represents 161.8% Fibonacci retracement continuous level for the bullish direction ( from 1.0004 to 1.0137 ), reaching this bearish targeted price, the support levels 1.0004, 0.9977 must be broken.
This expectation depends on the stability of the resistance level 1.0090
Res. 1.0078 1.0098 1.0122
Pivot 1.0054
Sup. 1.0034 1.0010 0.9990
[ATTACH]7519[/ATTACH]
AUDUSD
As expected in yesterday report the pair didn't complete forming the harmonic pattern AB=CD where the pair was able to break the bullish trend line which matches the point ( A ) and the ( C ) point, this break has coincided with the break of the support level 0.9936 to continue the pair’s declining till the support level 0.9860 which the intraday trades are around it. It is expected to break this level downwards where the pair will target the support level 0.9750 during the next trades
Res. 0.9927 0.9953 1.0002
Pivot 0.9878
Sup. 0.9852 0.9803 0.9777
[ATTACH]7518[/ATTACH]
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section.
EURUSD
The European currency declined against the American dollar at the end of the last week trades, whereas, investors still have bullish positions on dollar due to the expectations of the American economic recovery, through the chart it is noticed that, a harmonic pattern AB=CD has been formed where, the rib (BC) represents 50% Fibonacci correction level for the rib (AB) so, it is expected that, the rib (CD) will be completed at 200% Fibonacci continuous level for the rib (BC). What confirms this pattern is closing the pair below the level 1.3208 which represents the (B) point, it is expected with the stability of this level which became a resistance level that, the pair will continue declining, forming the rib (CD) which ends at the support level 1.3060 and represents the (D) point that completes the harmonic pattern.
The stability of these expectations requires the stability of the resistance level 1.3208.
Res. 1.3319 1.3451 1.3544
Pivot 1.3226
Sup. 1.3094 1.3001 1.2869
[ATTACH]7545[/ATTACH]
GBPUSD
As it was expected at the end of the last week trades, indeed, the pair declined targeting the support level 1.5430 that was mentioned previously and reflected up trying to correct this bearish move, at the beginning of this week trades more medium-term declining is expected for the pair in order to form a harmonic pattern AB=CD and now it is in the forming stage to the last wave CD but with close below the level 1.5500 then it will target 1.5100.
The expectations of today's trades are that, the pair will reflect up trying to re-test the resistance level 1.5640 then will decline down again.
So that, bearish positions are not recommended until breaking the support level 1.5430 that the pair tried to test it at the end of the last week trades.
These expectations remains by the stability of the resistance level 1.5640.
RES. 1.5633 1.5736 1.5826
Pivot 1.5543
Sup. 1.5440 1.5350 1.5247
[ATTACH]7546[/ATTACH]
USDCHF
The support level 0.9580 succeeded to be stable against the pair testing for the second time, pushing the pair to rise and test the resistance level 0.9710 also for the second time, that caused the forming of the double bottom pattern that reflects the direction and that with breaking the neck line of the pattern which represents 0.9710 resistance level, the pattern will be confirmed.
If the pair succeeded to break this level up it is expected that, the pair will target the resistance level 0.9780 then the resistance level 0.9850.
RES. 0.9761 0.9821 0.9922
Pivot 0.9660
Sup. 0.9600 0.9499 0.9439
[ATTACH]7544[/ATTACH]
USDCAD
The Canadian dollar didn't hold for along against rising the U.S dollar whereas what was expected that the Canadian dollar will maintain rising which will support breaking the pair to the bottom board for the symmetrical triangle pattern but what happened is breaking the upper board for the pattern which came to confirm the strength of the U.S dollar, the pair has pushed up after breaking the upper board with breaking the resistance level 1.0090 where it reaches till the level 1.0145 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0286 to 1.0004 ) and this level represents the highest price for last week trades, it's expected that with breaking it during the next trades that the pair will continue rising till the level 1.0178 which represents the targeted price for the symmetrical triangle pattern and also represents 76.4 % Fibonacci retracement correction level for the same mentioned bearish direction.
This expectation depends on the stability of the support level 1.0090.
Res. 1.0172 1.0211 1.0278
Pivot 1.0104
Sup. 1.0062 0.9996 0.9954
[ATTACH]7543[/ATTACH]
AUDUSD
Till this moment the pair is still unable to break the support level 0.9860 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0182 to 0.9538 ) to form a new bottom at this level, and as mentioned in the chart this bottom formation gives a probability of forming a bullish channel but only if the trades are stable above the likely bottom board, in this case a bullish move is expected till the resistance level 0.9936 which with breaking it up the pair will continue rising again till the resistance level 1.0030.
This expectation depends on the stability of the support level 0.9860.
This analysis still remains till now
Res. 0.9924 0.9967 1.0009
Pivot 0.9882
Sup. 0.9839 0.9797 0.9754
[ATTACH]7542[/ATTACH]
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section.
EURUSD
Yesterday trades saw the continuation of declining the European currency against the American dollar, the pair used this decline to form the bearish rib (CD) of the harmonic pattern AB=CD where, the pair registered the lowest price at the level 1.3095 in order to form a new bearish bottom, by observing forming the last bearish bottoms and the move of the stochastic index, a positive divergence that reflects the bearish direction is noticed, and indeed, reflected the price action during the last trades which marked by rising. It is expected that, the pair will continue rising in order to re-test the point (B) at the level 1.3208, if the pair succeeded to break this level, it will rise till reach the level 1.3276 at which the price may coincides with the bearish trend line that matches the point (A) with (B). and if the pair failed to break the level 1.3208, it will decline again till reach the support level 1.3060 which represents the point (B) that completes the harmonic pattern.
[ATTACH]7551[/ATTACH]
GBPUSD
Yesterday, the support level 1.5480 succeeded to be stable against the price testing for the second time, and supports the expectation of more corrective rising for the intraday levels of today, that may push the pair to test the resistance level 1.5695 but under the condition of breaking the resistance level 1.5605 with a good close above, then the pair will target the resistance level 1.5695.
These expectations still stable by the stability of the support level 1.5480.
RES. 1.5565 1.5620 1.5665
Pivot 1.5520
Sup. 1.5465 1.5420 1.5365
[ATTACH]7552[/ATTACH]
USDCHF
The pair was unable to break the resistance level 0.9170 as it was expected yesterday; this level held against the price testing and caused a downward reflection for the price, confirming the strength of the bearish direction and that the price unable to continue the corrective rising with the expectation of more declining during the upcoming trades targeting the support level 0.9510 but first, it should break the strong support level 0.9580 in order to confirm the tendency of the pair to reach the target.
The stability of these expectations requires the stability of the resistance level 0.9710.
RES. 0.9702 0.9756 0.9791
Pivot 0.9667
Sup. 0.9613 0.9578 0.9524
[ATTACH]7550[/ATTACH]
USDCAD
As expected in yesterday report that the pair was able to break the resistance level 1.0145 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0286 to 1.0004 ) to push the pair up again till the level 1.0178 which represents the targeted price for the symmetrical triangle pattern, although of achieving the pair the highest price for yesterday trades at the level 1.0208 but it didn't achieve a good close above the resistance level 1.0178 to form a bearish reflective candles at this level which will force the pair to fall again to retest the nearest support levels searching to form a bullish bottom will use it the pair to rise again trying to break the level 1.0178 which with breaking it the pair will continue rising till the level 1.0286, it's expected that a bullish bottom will be formed at the retest for the level 1.0145.
This expectation depends on the stability of the support level 1.0110.
Res. 1.0216 1.0266 1.0324
Pivot 1.0158
Sup. 1.0108 1.0050 1.0000
[ATTACH]7549[/ATTACH]
AUDUSD
In the mentioned chart ,the pair was able to use the stability of the resistance level 0.9860 to rise again whereas it was able to break the resistance level 0.9936 to retest the resistance level 0.9979 which represents 0.764 % Fibonacci retracement correction level ( from 1.0025 to 0.9830 ), during the trades for the last medium period which was expected that it is between the bullish channel, the pair is in process to form a negative harmonic pattern AB=CD and it is forming now the bullish rib ( CD ) which is expected to be continued after breaking the resistance level 0.9979 and 1.0025 which represents the ( B ) point, after these breakthroughs the pair will form the ( CD ) rib which will be completed at the confined area between the level 1.0078 which represents 127% Fibonacci retracement continuous level for the rib ( BC ) and the level 1.0100 one of the resistance levels for the top boarder of the bullish channel.
This expectation depends on the stability of the support level 0.9860.
Res. 0.9967 1.0000 1.0050
Pivot 0.9914
Sup. 0.9881 0.9828 0.9795
[ATTACH]7548[/ATTACH]
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section
Wednesday December 22 , 2010
Major Currencies Analysis
EUR/USD
https://www.mql5.com/go?link=http://www2.fxcbs.com/newsletter/images/EURUSD.gif
The pair Euro against the U.S. dollar fall down yesterday to the level of 1.30780, today we expect that the pair will make a correction movement to the resistance level at 1.31800 before back to decline again; these expectations require stability of the trading below the level of 1.31800.
Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.31240 1.31694 1.32274 1.31246 1.30634 1.30280 1.29700
GBP/USD
https://www.mql5.com/go?link=http://www2.fxcbs.com/newsletter/images/GBPUSD.gif
The pair Sterling against the U.S. dollar still facing strong support around the level 1.54500, today we can see good determined may help the pair to breakthrough this level to reach the target of 1.53900 around this level we should monitor the price what will make and take care around that level.
Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.55000 1.55400. 1.55997 1.54903 1.54311 1.53948 1.53351
USD/JPY
https://www.mql5.com/go?link=http://www2.fxcbs.com/newsletter/images/USDJPY.gif
Determined indicators for the pair U.S. dollar against the Japanese Yen showing mixed sign that will cause some fluctuation around the level of MA 50 (83.8000) before it can rise to attack the main resistance point at 84.240.
Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 84.060 84.200 84.441 83.939 83.786 83.645 83.413
USD/CHF
https://www.mql5.com/go?link=http://www2.fxcbs.com/newsletter/images/USDCHF.gif
We can see mixed sign through the indicators on the pair U.S. dollar against Swiss Franc, we can see positive sign coming through determined indicators, on other hand we can note that the pair stabile yesterday below the level MA 50, all of these lead us to monitor the price level today and stay away from it until we can get a clear sign help us to take decision.
Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.95986 0.96297 0.96711 0.95986 0.95541 0.95541 0.94875
AUD/USD
https://www.mql5.com/go?link=http://www2.fxcbs.com/newsletter/images/AUDUSD.gif
Determined indicators for the pair Australian dollar against the U.S. dollar still showing positive sign which may lead the pair to rise up to the level of 0.99760 , these expectations require stability of the trading above the level of MA50 (0.98500).
Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 0.99987 1.00195 1.00539 0.99622 0.99600 0.99365 0.99021
USD/CAD
https://www.mql5.com/go?link=http://www2.fxcbs.com/newsletter/images/USDCAD.gif
Since beginning of the trading this week the pair U.S. dollar against the Canadian dollar still trading below the level 1.02000 , this lead us to expect today a declining for the pair to the level 0.99700 , this decline require today a breakthrough for the level of 1.01400 then 1.01000.
Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.01807 1.01959 1.02209 1.01740 1.01503 1.01351 1.01101
Major Currencies Analysis
https://www.mql5.com/go?link=http://www2.fxcbs.com/newsletter/major-analysis.html
EURUSD
As it was expected yesterday, the pair re-tested the resistance area at the point B of the AB=CD positive harmonic pattern at the level 1.3208 forming a new top that pushed the pair to decline again and to continue forming the CD rib that has been completed by reaching the level 1.3075 which represents the lowest achieved price during yesterday trades.
Complete forming of the positive harmonic pattern with the continuation of the positive divergence that reflects the direction of the stochastic index with forming a bottom at the level 1.3075, all of these are signals confirm a beginning of forming a bullish direction during the upcoming trades. it is expected that the pair will continue rising in order to re-test the resistance level 1.3208 at which it is expected that the price will coincide with the bearish trend line that matches the point A with C. breaking the bearish trend line with breaking the level 1.3208 means rising till reach the level 1.3355.
The stability of these expectations requires the stability of the support level 1.3075.
Res. 1.3177 1.3253 1.3305
Pivot 1.3125
Sup. 1.3049 1.2997 1.2921
[ATTACH]7568[/ATTACH]
GBPUSD
The vision today is a medium-term one whereas, the price action is moving in narrow trades during the last days, thus, AB=CD harmonic pattern in the forming stage is noticed where, the pair succeeded to form a couple of pattern waves and the price action now is in the forming stage of the last wave CD, but in order to finish this pattern, the pair should break the level 1.5485 which represents the point B, it is also noticed that, the pair now is trading below this level but breaking it with a good close below did not confirmed.
It is expected that, the medium-term bearish wave will remain and if the pair rose during the intraday trades, it will be a corrective rising, targeting the resistance level 1.5580 then, the pair will continue declining.
And bearish positions are not recommended until breaking the level 1.5485 with a good close below is confirmed then, the pair wil target to reach the support level 1.5100 for the medium period.
RES. 1.5545 1.5622 1.5677
Pivot 1.5490
Sup. 1.5413 1.5358 1.5281
[ATTACH]7569[/ATTACH]
USDCHF
The pair was unable to break the resistance level 0.9170 as it was expected yesterday; this level held against the price testing and caused a downward reflection for the price, confirming the strength of the bearish direction and that the price was unable to continue the corrective rising with the expectations of more declining during the upcoming trades targeting the support level 0.9510 but first, it should break the strong support level 0.9580 in order to confirm the tendency of the pair to reach the target.
The stability of these expectations requires the stability of the resistance level 0.9710.
RES. 0.9636 0.9692 0.9729
Pivot 0.9599
Sup. 0.9543 0.9506 0.9450
[ATTACH]7567[/ATTACH]
USDCAD
During yesterday trades the pair has formed a new top at the resistance level 1.0208 which is the second consecutive top at this level. the conditions are enough for a reflective harmonic pattern for the bullish direction which is the double top to form, whereas the base of the pattern is at the support level 1.0150, breaking the base for the pattern is very important to confirm the pattern existence, confirming this break means that the pair will continue falling till the level 1.0092 which represents the targeted price for the pattern also if the pair succeeded on breaking the level 1.0092, the pair will continue falling directing to the next support level at 1.0004.
This expectation depends on the stability of the resistance level 1.0208.
Res. 1.0203 1.0233 1.0260
Pivot 1.0176
Sup. 1.0046 1.0119 1.0089
[ATTACH]7566[/ATTACH]
AUDUSD
In this chart ,the pair was able to use the stability of the resistance level 0.9860 to rise again whereas it was able to break the resistance level 0.9936 to retest the resistance level 0.9979 which represents 76.4 % Fibonacci retracement correction level ( from 1.0025 to 0.9830 ). During the trades for the last medium period which was expected that it is between the bullish channel, the pair is in process to form a negative harmonic pattern AB=CD and it is forming now the bullish rib ( CD ) which is expected to be continued after breaking the resistance level 0.9979 and 1.0025 which represents the ( B ) point, after these breakthroughs the pair will form the ( CD ) rib which will be completed at the confined area between the level 1.0078 which represents 127% Fibonacci retracement continuous level for the rib ( BC ) and the level 1.0100 one of the resistance levels for the top boarder of the bullish channel.
This expectation depends on the stability of the support level 0.9860.
This analysis still remains till now
Res. 1.0006 1.0036 1.0080
Pivot 0.9962
Sup. 0.9932 0.9888 0.9858
[ATTACH]7565[/ATTACH]
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EURUSD
Yesterday trades saw forming a top at the level 1.3175 which represents 23.6% Fibonacci correction level for the bearish direction (from 1.3497 to 1.3075) at which the pair was pushed down in order to retest the nearest support level one of which is 1.3075 level, forming a new bottom at this level and it is the second consecutive bottom at the same level, this confirms the conditions of the existence of a double bottom pattern that reflects the bearish direction, the top of this pattern is at the resistance level 1.3175. The existence of this pattern with completing the positive harmonic pattern AB=CD and the continuation of the positive divergence that reflects the bearish direction, all these are strong signals of returning the pair to rise again.
It is expected during the upcoming trades that the pair will rise in order to break the level 1.3175 at which the price is expected to coincide with the bearish trend line which matches the point A with C. breaking these levels is important for the pair to continue rising till reaching the level 1.3285 which represents the target of the pattern and also represents 50% Fibonacci correction level for the mentioned bearish direction.
In order to reach this target, the pair should break the resistance level 1.3208 which represents the point B of the harmonic pattern.
The stability of these expectations requires the stability of the support level 1.3075.
Res. 1.3160 1.3221 1.3262
Pivot 1.3119
Sup. 1.3059 1.3017 1.2956
[ATTACH]7580[/ATTACH]
GBPUSD
The pair on the medium-term was moving in narrow trades during the last days. It is noticed that the pair is in the forming stage of a harmonic pattern (AB=CD), the pair succeeded to form couple of waves for the pattern and now is forming the last wave CD.
As it was expected yesterday, the pair declined breaking the level 1.5484 which represents the point B of the pattern which was formed by reaching the lowest registered price at the level 1.5356.
It is expected on the short-term the continuation of the bearish wave for the pair and if the pair rose during the upcoming trades, it will be a corrective rising; its target is to test the resistance level 1.5485, then the pair will continue declining targeting the support level 1.5100 which represents the target of the wave CD for the formed pattern.
The stability of these expectations for the intraday levels of today requires the stability of the resistance level 1.5485.
RES. 1.5465 1.5548 1.5603
Pivot 1.5411
Sup. 1.5329 1.5274 1.5192
[ATTACH]7581[/ATTACH]
USDCHF
The pair continues declining that was started at the level 1.0065 so it is expected that it will continue declining till reaching the level 0.9406 which represents 127% Fibonacci continuous level for the last bullish wave.
These expectations requires the pair’s stability below the resistance level 0.9549 which represents 100% Fibonacci continuous level
But if the pair succeeded to break this level with stability above, it will target the level 0.9670 which represents 76.4% Fibonacci continuous level for the mentioned bullish wave.
RES. 0.9572 0.9625 0.9659
Pivot 0.9538
Sup. 0.9485 0.9451 0.9398
[ATTACH]7579[/ATTACH]
USDCAD
During yesterday trades the pair was able to break the support level 1.0150 which represents the base for the reflective pattern; double consecutive tops whereas the pair has achieved the lowest price during yesterday trades at the level 1.0112, so it's expected that with breaking this level during the next intraday trades the pair will continue falling till the level 1.0092 which represents the pattern’s target and at the same time if the pair succeeds on breaking the level 1.0092, the pair will continue falling directing for the next support level at 1.0004 level
This expectation depends on the stability of the resistance level 1.0150.
Res. 1.0171 1.0210 1.0240
Pivot 1.0141
Sup. 1.0102 1.0072 1.0033
[ATTACH]7578[/ATTACH]
AUDUSD
In this chart ,the pair was able to use the stability of the resistance level 0.9860 to rise again whereas it was able to break the resistance level 0.9936 to retest the resistance level 0.9979 which represents 76.4 % Fibonacci retracement correction level ( from 1.0025 to 0.9830 ). During the trades for the last medium period which was expected that it is between the bullish channel, the pair is in process to form a negative harmonic pattern AB=CD and it is forming now the bullish rib ( CD ) which is expected to be continued after breaking the resistance level 0.9979 and 1.0025 which represents the ( B ) point, after these breakthroughs the pair will form the ( CD ) rib which will be completed at the confined area between the level 1.0078 which represents 127% Fibonacci retracement continuous level for the rib ( BC ) and the level 1.0100 one of the resistance levels for the top boarder of the bullish channel.
This expectation depends on the stability of the support level 0.9860.
This analysis still remains till now
Res. 1.0015 1.0042 1.0075
Pivot 0.9982
Sup. 0.9955 0.9922 0.9895
[ATTACH]7577[/ATTACH]
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EURUSD
The pair is still forming new consecutive bearish bottoms whereas, the stochastic index is forming a bullish bottoms this means the continuation of the positive divergence that reflects the direction. Through the bearish price action, a bearish wedge pattern that reflects the direction has been formed. It is expected that, the pair will response to these signals that reflect the current bearish direction to form a corrective bullish direction during the upcoming period; this bullish move will be confirmed with breaking the top boarder of the pattern and also with breaking the resistance level 1.3180 then, the pair will continue rising targeting to reach the target area that locates between the resistance level 1.3250 and the level 1.3276 which represents 50% Fibonacci correction level for the bearish direction (from 1.3497 to 1.3055).
The stability of this bullish move requires the stability of the support level 1.3055.
Res. 1.3157 1.3202 1.3253
Pivot 1.3106
Sup. 1.3061 1.3010 1.2965
[ATTACH]7589[/ATTACH]
GBPUSD
The pair on the medium-term was moving in narrow trades during the last days. It is noticed that the pair is in the forming stage of a harmonic pattern (AB=CD), the pair succeeded to form couple of waves for the pattern and now is forming the last wave CD.
And what confirms the strength of this pattern is that the pair succeeded to break the level 1.5484 which represents the point B so, on the short-term that the continuation of the bearish wave for the pair is expected, and if the pair rose during the upcoming trades, it will be a corrective rising; its target is to test the resistance level 1.5485, then the pair will continue declining targeting the support level 1.5100 which represents the target of the wave CD for the formed pattern.
The stability of these intraday levels expectations requires the stability of the resistance level 1.5484.
RES. 1.5451 1.5475 1.5514
Pivot 1.5412
Sup. 1.5388 1.5348 1.5325
[ATTACH]7590[/ATTACH]
USDCHF
The pair is still moving in a short-term bearish direction, during yesterday trades the pair hit the support level 0.9510 and reflected up trying to correct this bearish direction and trying also to test the bearish trend line at the level 0.9580, the pair is still trading below this trend line so, it is expected that, the pair will continue this bearish move for the intraday levels targeting to test the support level 0.9580 again.
The stability of these expectations requires the stability of the resistance level 0.9580.
RES. 0.9669 0.9750 0.9836
Pivot 0.9583
Sup. 0.9503 0.9416 0.9335
[ATTACH]7588[/ATTACH]
USDCAD
During yesterday trades the pair has achieved the target price for the double top reflective pattern, by reaching the level 1.0092, where the pair has achieved the lowest price for this trades at the level 1.0070, it's expected for the next trades with breaking the mentioned support area which is between the level 1.0092 and 1.0070 that the pair will continue falling targeting the support level 1.0004.
This expectation depends on the stability of the resistance level 1.0120.
Res. 1.0149 1.02003 1.0244
Pivot 1.0106
Sup. 1.0054 1.0019 0.9959
[ATTACH]7587[/ATTACH]
AUDUSD
The pair is still forming the bullish (CD) rib for the harmonic pattern AB=CD, whereas the intraday trades are above the resistance level 1.0025 which represents the (B) point, which confirms that the pair is approaching to reach the target price area for the harmonic pattern, which is located between the level 1.0078 that represents 127% Fibonacci retracement continuous level for the (BC) rib and the level 1.0100.
This expectation depends on the stability of the support level 0.9975.
Res. 1.0076 1.0106 1.0154
Pivot 1.0030
Sup. 0.9992 0.9958 0.9917
[ATTACH]7586[/ATTACH]
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