GIGFX Technical Analysis Report For Majors (Updated Daily) - page 3
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EURUSD
As it was expected through the previous reports, the pair began to respond to the positive signals that reflected the bearish direction to continuing forming a bullish corrective direction. during yesterday trades, the pair succeeded to break the top boarder of the bearish wedge pattern, this breaking was the beginning of the pair rising which remained during the last intraday trades, breaking the resistance level 1.3180 till reached the level 1.3224 which represents the target of the pattern and at the same time represents 38.2% Fibonacci correction level for the bearish direction (from 1.3497 to 1.3055). It is noticed that, a reflective candle is formed at the level 1.3224 after achieving a higher price at the level 1.3254, the appearance of this candle means declining the pair in order to re-test the nearest support levels to form a bullish bottom that is expected to be around the support level 1.3180 then, it will use this bottom to return rising again in order to break the level 1.3254 which with its breaking, the pair will continue rising till reaching the level 1.3276 then the level 1.3328.
The stability of this bullish move requires the stability of the support level 1.3180.
Res. 1.3198 1.3232 1.3295
Pivot 1.3135
Sup. 1.3101 1.3038 1.3004
[ATTACH]7600[/ATTACH]
GBPUSD
The support level 1.5370 held for the second time against the pair testing. yesterday the pair reflected up after retesting this level, forming a double bottom pattern where its bass line is at the level 1.5455, the pair succeeded to break this level and still trading above till now expecting more rising to reach the target of the pattern that is located at the resistance level 1.5550 during the upcoming trades but under the condition of continue trading above the support level 1.5455.
The stability of these expectations for the next intraday levels requires the stability of the support level 1.5455.
RES. 1.5415 1.5502 1.5548
Pivot 1.5415
Sup. 1.5374 1.5328 1.5281
[ATTACH]7601[/ATTACH]
USDCHF
The bullish corrective move was unable to achieve more gains during yesterday trades, the pair hit the resistance level 0.9665 for the second time and could not break this level whereas, the pair reflected down within a bearish channel and into the forming stage of the harmonic pattern AB=CD, expecting more declining for the pair during the upcoming intraday trades targeting the support level 0.9445 which represents the end of the harmonic pattern and also coincides with testing the bottom boarder of this bearish channel in which the pair is moving with short-term trades.
The stability of these expectations requires the stability of the resistance level 0.9665.
RES. 0.9636 0.9678 0.9719
Pivot 0.9607
Sup. 0.9568 0.9536 0.9490
[ATTACH]7599[/ATTACH]
USDCAD
The bearish direction is still dominating the pair for the short period and this direction is forming through the movement inside the bearish channel. the intraday trades are at the support level 1.0050 where the pair is trying to break this level down to continue falling to reach the level 1.0004 which is expected to coincide at it the price with the bottom boarder for the bearish channel, in case of breaking the support level 1.0004 the pair will continue falling targeting the level 0.9977.
This expectation depends on the stability of the resistance level 1.0090.
Res. 1.0106 1.0144 1.0178
Pivot 1.0076
Sup. 1.0034 1.0000 0.9962
[ATTACH]7598[/ATTACH]
AUDUSD
The pair is still keeping on the bullish directions for the medium and short- term periods, the pair is continuing forming the bullish ( CD ) rib for the harmonic pattern AB=CD whereas this rib was completed by reaching the complement ( D ) point area for the harmonic pattern which is confined between the level 1.0078 which represents 127% Fibonacci retracement continuous level for the ( BC ) rib and the level 1.0100. if this bullish strength continued dominating the next trades and breaking the resistance level 1.0100, the pair will continue rising to reach the level 1.0146 which also represents 161.8% Fibonacci retracement continuous level for the ( BC ) rib which is expected to coincide at it the price with the lower boarder for the bullish channel for the short and medium – term trades
This expectation depends on the stability of the support level 1.0025.
Res. 1.0072 1.0099 1.0142
Pivot 1.0029
Sup. 1.002 0.9959 0.9932
[ATTACH]7597[/ATTACH]
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EURUSD
Yesterday, the pair rose till reached the level 1.3276 which represents 50% Fibonacci correction level for the bearish direction (from 1.3497 to 1.3055). Although the pair reached this level, the pair did not achieve a good close above the area between the levels 1.3254 and 1.3224 in which some reflective candles for the last bullish wave that was mentioned through yesterday report have appeared. These negative candles reflected on the pair trades with a sharp declining, confirming the tendency of the pair to continue on the medium and long-terms bearish directions. During the last intraday trades it is noticed that a bottom has been formed at the support level 1.3080 which coincided with the top boarder of the bearish wedge that was been broken up.
It is expected that, the pair will use this formed bottom to rise, trying to form a bearish top that will force the pair to decline again in order to try breaking the support level 1.3080 which with its breaking and with breaking the support level 1.3055 means more declining till reach the level 1.2970, it is also expected that, the bearish bottom may be located between the levels 1.3160 and 1.3180.
These bearish expectations require the stability of the resistance level 1.3180.
Res. 1.3228 1.3341 1.3405
Pivot 1.3161
Sup. 1.3049 1.2981 1.2868
[ATTACH]7611[/ATTACH]
GBPUSD
Yesterday, the pair tried to correct its bearish direction that dominates the medium-term price action by rising up for the intraday levels till hit the resistance level 1.5480 which held against the pair testing and reflected down testing the support level 1.5355 expecting more declining during the upcoming trades due to the appearance of a harmonic pattern AB=CD in the forming stage, and now the price action is in the forming stage of the last wave CD, and it is supposed to have an expected target by reaching the support level 1.5220 in order to test it.
But the condition of completing this scenario is breaking the support level 1.5355 which represents the point B of the formed pattern with a good close below.
These expectations for the intraday trades require the stability of the resistance level 1.5480.
RES. 1.5469 1.5572 1.5635
Pivot 1.5409
Sup. 1.5303 1.5240 1.5137
[ATTACH]7612[/ATTACH]
USDCHF
As it was expected yesterday indeed, the pair declined completing the harmonic pattern AB=CD that has been formed on the short-term price action whereas, yesterday the pair reached the support level 0.9445 which was mentioned through yesterday report in order to test it, reflecting up after completing the pattern, expecting more declining targeting the re-test of the support level 0.9445 again. But now, the pair is trying to rise correcting the short and medium-term bearish direction, and trying to re-test the resistance level 0.9600 which coincides with testing the top boarder of this bearish channel in which the pair is moving.
These expectations require the stability of the resistance level 0.9600.
RES. 0.9606 0.9692 0.9774
Pivot 0.9522
Sup. 0.9438 0.9354 0.9270
[ATTACH]7610[/ATTACH]
USDCAD
The bearish direction is still dominating the pair for the short period and this direction is formed through the movement inside the bearish channel, the bearish move was expected in yesterday report till the level 1.0004 but the support level 1.0050 must be broken and this is what was achieved during yesterday trades but the pair continued falling breaking the support level 1.0004 till it reached the next support level at 0.9975
it's expected for the next trades a further drop which will be confirmed with breaking the support level 0.9975, the pair will target the level 0.9949 which represents 127% Fibonacci retracement continuous level for the bullish direction ( from 1.0004 till 1.0208 ).
This expectation depends on the stability of the resistance level 1.0050.
Res. 1.0064 1.0117 1.0162
Pivot 1.0019
Sup. 0.9966 0.9921 0.9868
[ATTACH]7609[/ATTACH]
AUDUSD
As expected in yesterday report, the pair was able to break the resistance level 1.0100 to continue rising till the level 1.0146 which represents 161.8% Fibonacci retracement continuous level for the ( BC ) rib for the harmonic pattern AB=CD and as what was mentioned, this price was coincided at this level with the lower boarder for the bullish channel which the pair is still moving inside it for the medium and short- term, forming a top at this area which pushed down the pair to retest the level 1.0100 where it's noticed of forming a bottom at this level during the last intraday trades which the pair will use to rise again trying to break the level 1.0146 which with breaking it the pair will continue rising till the level 1.0182 which represents the historical registered price for the pair.
This expectation depends on the stability of the support level 1.0078.
Res. 1.0153 1.0207 1.0264
Pivot 1.0096
Sup. 1.0042 0.9988 0.9931
[ATTACH]7608[/ATTACH]
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EURUSD
Yesterday trades saw the rising of the European currency against the American dollar for second straight day, the continuation of this rising has been mentioned through yesterday report, whereas, the pair succeeded to break the neck line of the cup and handle pattern and also broke the resistance level 1.3276 which represents 50% Fibonacci correction level for the bearish direction (from 1.3497 to 1.3055). During the current trades, the pair is trading below the resistance 1.3328 level which represents 61.8% Fibonacci correction level for the same bearish direction. It is expected that, the pair will continue rising with breaking this level, targeting the next resistance level 1.3393 which represents 76.4% Fibonacci correction level for the same bearish direction. The target of this bullish scenario is to reach the target of the pattern at the level 1.3497.
The stability of these expectations requires the stability of the resistance level 1.3160.
Res. 1.3331 1.3371 1.3428
Pivot 1.3274
Sup. 1.3234 1.3177 1.3137
[ATTACH]7629[/ATTACH]
GBPUSD
During the last two weeks, the pair was moving in a sideways move between the resistance level 1.5480 and the support level 1.5270, the pair tried to break the resistance level 1.5480 which represents the top boarder of this sideway move in yesterday trades and was able to close above, but returned again to trade below it and tested the support level 1.5370.
So that, the pair has to break one of these levels in order to determine its next direction of the short-term and intraday levels, if the pair succeeded to break the resistance level 1.5480 it will be pushed to retest the resistance level 1.5580, and if the pair succeeded to break the support level 1.5370, the pair will be pushed immediately to test the support level 1.5315 then the level 1.5250.
RES. 1.5519 1.5622 1.5677
Pivot 1.5442
Sup. 1.5350 1.5273 1.5181
[ATTACH]7630[/ATTACH]
USDCHF
As it was expected through yesterday report, the pair succeeded to break the level 0.9440 trying to reach the support level 0.9325 to test it which represents the end of the harmonic pattern AB=CD which was mentioned yesterday with the expectation of more declining during the upcoming trades but under the condition of breaking the support level 0.9325 then it will target the support level 0.9230.
The stability of these expectations requires the stability of the resistance level 0.9440.
RES. 0.9426 0.9499 0.9537
Pivot 0.9388
Sup. 0.9315 0.9277 0.9204
[ATTACH]7628[/ATTACH]
USDCAD
The pair trades are still inside the bearish channel which is formed for the short-term, it's noticed that the pair has formed a confusion area inside the bearish channel between the resistance level 1.0010 and the support level 0.9975, therefore the next trades direction will be determined if one of these boards is broken, whereas the prevailing direction is bearish so it's expected the next support level 0.9975 to be broken then continuing the bearish move till the level 0.9949 which represents 127% Fibonacci retracement continuous level for the bullish direction ( from 1.0004 to 1.0208 ) then to the next support level at 0.9878, in case of breaking the resistance level 1.0010 the pair will trade out of the bearish channel which is the first positive sign to change the bearish direction way and the pair will target in this case the resistance level 1.0050 which with breaking it up the positive sign will be confirmed declaring the beginning of forming the bullish direction for the next trades.
Res. 1.0021 1.0044 1.0065
Pivot 1.0000
Sup. 0.9977 0.9956 0.9933
[ATTACH]7627[/ATTACH]
AUDUSD
AUDUSD Pair registered a new record at the 1.0197 level then it fell again to retest the nearest support levels whereas a new good support level is appeared at the level 1.0115 where a bottom was formed at it to rise again trying to break the resistance level 1.0197, through this bullish movement for the medium and short- term, it's noticed that the harmonic pattern AB=CD was formed whereas the formed bottom at the level 1.0115 which represents the ( C ) point and also represents 38.2% Fibonacci retracement correction level for the ( AB ) rib, therefore the ( CD ) rib will be completed at 261.8% Fibonacci retracement continuous level for the ( BC ) rib at the level 1.0329 which represents the complement ( D ) point for the harmonic pattern and is expected to coincide at it the price with the lower boarder for the bullish channel .
This expectation depends on the stability of the support level 1.0115.
Res. 1.0206 1.0241 1.0286
Pivot 1.0161
Sup. 1.0126 1.0081 1.0046
[ATTACH]7626[/ATTACH]
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EURUSD
The pair succeeded to confirm rising at the end of the last year trades whereas, the pair recorded the highest high during last Friday trades at the level 1.3424 which is the highest price since three weeks. This supports the expectations of more rising for the European currency and also the appearance of a Gartley harmonic pattern in the medium-term forming stage, now the pair is moving in the range of the last wave CD of the pattern which is expected to target the area between the resistance level 1.3585 and the level 1.3620.
The stability of these expectations requires the stability of the support level 1.3235.
Res. 1.3340 1.3503 1.3578
Pivot 1.3363
Sup. 1.3304 1.3225 1.3164
[ATTACH]7640[/ATTACH]
GBPUSD
At the end of last week trades, the pair succeeded to confirm the short-term bullish direction after breaking the resistance level 1.5480 which was representing the top boarder of a sideway channel in which the pair was moving, till the pair succeeded to break it up after forming a the triple bottom pattern that reflects the direction, the price also succeeded to reach the target of this pattern at the resistance level 1.5590 which still holding till now. the pair reflected immediately after its testing with expectation of more rising up during the upcoming trades but under the condition of breaking the resistance level 1.5590 and it will target then the resistance level 1.5700 in order to test it.
The stability of these expectations requires the stability of the support level 1.5480.
RES. 1.5706 1.5801 1.5942
Pivot 1.5560
Sup. 1.5470 1.5329 1.5234
[ATTACH]7641[/ATTACH]
USDCHF
As it was expected for the pair at the end of the last week trades, indeed, it succeeded to reach the support level 0.9325 which was the target of the formed harmonic pattern AB=CD, this level is still holding till now forming a confusion area between the support level 0.9325 and the resistance level 0.9390 so that, it is recommended to observe the price action because breaking this level means the strength of the bearish positions but in the case of breaking the resistance level means the strength of the bullish positions for the short period and the trades of intraday levels for today.
So, if the pair succeeded to break the support level 0.9325 with a good close, it will target immediately the support level 0.9225, but in the case of breaking the resistance level 0.9390, it will target the resistance level 0.9480.
RES. 0.9389 0.9438 0.9479
Pivot 0.9348
Sup. 0.9299 0.9258 0.9209
[ATTACH]7639[/ATTACH]
USDCAD
As noticed in the chart the continuation of the bearish move for the American dollar against the Canadian dollar to break the level 0.9980 which was the holding level for the pair falling during the previous trades for the short-term. the harmonic pattern ( AB=CD ) is noticed, whereas with the stability of the level 0.9970 which represents the ( B ) point, it is expected for the pair to continue falling targeting the level 0.9845 which represents the expected ( D ) point, which is also the complement point for the pattern. But in case of the pair rising and trading above the level 0.9980 it is expected for the pair to return rising searching for a good resistance area which is expected to be around the level 1.0055.
Res. 1.0015 1.0053 1.0099
Pivot 0.9969
Sup. 0.9931 0.9885 0.9847
[ATTACH]7638[/ATTACH]
AUDUSD
The bullish direction is still the dominated direction to the pair for the medium and the short-terms whereas the pair is moving inside the bullish channel, the upper boarder was tested at the end of last week trades which reflected from it down expecting for it a further rise during the intraday trades targeting the resistance level 1.0300, what supports this scenario is a divergence in the stochastic index below the chart.
This expectation depends on the stability of the support level 1.0140.
Res. 1.0276 1.0316 1.0379
Pivot 1.0213
Sup. 1.0171 1.0109 1.0067
[ATTACH]7637[/ATTACH]
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EURUSD
The short-term direction of the pair is still bullish. during yesterday trades, a new bullish bottom has been formed at the level 1.3276 which represents 50% Fibonacci correction level for the bearish direction (from 1.3497 to 1.3055) which has been broken up previously, the pair used this bottom to push rising, trying to break the resistance level 1.3393 but it did not succeed till now. the pair still has a target for the cup and handle pattern by reaching the level 1.3497, during the upcoming trades it is expected that, the pair will reach this target after breaking the resistance level 1.3393.
The stability of these expectations requires the stability of the support level 1.32763.
Res. 1.3420 1.3480 1.3565
Pivot 1.3335
Sup. 1.3275 1.3190 1.3130
[ATTACH]7653[/ATTACH]
GBPUSD
On the contrary of yesterday expectations, the pair failed to collect the needed momentum to break the highest levels that the pair achieved at the end of the last week trades and now the pair is trading below the level 1.5475 which represents 23.6% Fibonacci correction level for the last medium-term bearish wave, this supports the expectation of more declining as long as the pair trades below this level targeting the support level 1.5365.
The stability of these expectations requires the stability of the resistance level 1.5475.
RES. 1.5570 1.5652 1.5721
Pivot 1.5501
Sup. 1.5419 1.5350 1.5268
[ATTACH]7654[/ATTACH]
USDCHF
As it was expected for the pair at the end of the last week trades, indeed, it succeeded to reach the support level 0.9325 which was the target of the formed harmonic pattern AB=CD, this level is still holding till now forming a confusion area between the support level 0.9325 and the resistance level 0.9390 so that, it is recommended to observe the price action because breaking this level means the strength of the bearish positions but in the case of breaking the resistance level means the strength of the bullish positions for the short period and the trades of intraday levels for today.
So, if the pair succeeded to break the support level 0.9325 with a good close, it will target immediately the support level 0.9225, but in the case of breaking the resistance level 0.9390, it will target the resistance level 0.9480.
Yesterday analysis is still remaining till now
RES. 0.9371 0.9408 0.9433
Pivot 0.9346
Sup. 0.9309 0.9284 0.9247
[ATTACH]7652[/ATTACH]
USDCAD
The pair is still trading inside the formed bearish channel for the medium and the short-term, the pair has formed a bearish bottom near the support level 0.9878 which represents 161.8% Fibonacci retracement continuous level for the bullish direction ( from 1.0004 to 1.0208 ), the pair was pushed up from this bottom to retest the nearest resistance levels. through the price action bearish direction, a bullish movement from the RSI index were found remaining by that a positive divergence reflecting the bearish direction, whereas the pair targets to test the resistance level 0.9949 during the intraday trades which the price will coincide at it with the upper boarder for the bearish channel , if the pair is able to break these levels up it means rising till the level 1.0053 which represents the targeted price in order to break out from this bearish channel.
This expectation depends on the stability of the support level 0.9878.
Res. 0.9963 0.9989 1.0026
Pivot 0.9926
Sup. 0.9900 0.9863 0.9837
[ATTACH]7651[/ATTACH]
AUDUSD
During the last intraday trades the pair was able to break the lower boarder for the bullish channel which the pair was moving inside it for the medium and the short-term, the pair also was able to break the support level 1.0155 which represents 23.6% Fibonacci retracement correction level for the bullish direction ( from 0.9830 to 1.0255 ), the pair has achieved the targeted price in order to break out from the bullish channel by reaching the support level 1.0065 if the pair formed a bottom at this area which is between the support level 1.0065 and the level 1.0043 which represents 50% Fibonacci retracement correction level for the same bullish direction, the bullish move is expected to retest the level 1.0155 which became a resistant level after breaking it down, but in case of breaking the support level 1.0043 the pair will continue falling to reach the level 0.9930 which represents 76.4% Fibonacci retracement correction level for the same mentioned bullish direction.
Res. 1.0206 1.0246 1.0274
Pivot 1.0181
Sup. 1.0140 1.0114 1.0073
[ATTACH]7650[/ATTACH]
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EURUSD
During yesterday trades, the pair did not succeed to break the resistance level 1.3425 to form a new top at this level and this is the second consecutive top at the same level to provide the appearance of the double top pattern that reflects the bearish direction, the existence of this pattern will be confirmed after breaking its bottom which is the support area between the levels 1.3276 and 1.3260. And in this case the pair will target to decline till reaching the level 1.3110 which represents the target of the double top pattern, and in the case of completing forming a new bottom at the support area between the level 1.3276 and 1.3260 that the current trades are around, the possibility of the existence of the pattern that reflects the direction will be ended, then the pair will rise again till reaching the resistance level 1.3425 which with its breaking the pair will rise again to reach the level 1.3497 which represents the target of the cup and handle pattern.
Res. 1.3394 1.3481 1.3532
Pivot 1.3343
Sup. 1.3256 1.3205 1.3118
[ATTACH]7668[/ATTACH]
GBPUSD
Yesterday, the pair was able to collect the needed momentum to break the resistance level 1.5475, this supported the short-term trades and the intraday trades to hit the support level 1.5645 for the second time after the pair tried to break it at the end of the last week trades and did not succeed and still stable till now against the pair second test.
It is important to notice that the strongest level the pair will face is the support level 1.5520 which will determine the direction of the pair during the upcoming trades. if this level held, the pair will immediately rise targeting the resistance level 1.5645 as the first target in this rising.
RES. 1.5669 1.5752 1.5867
Pivot 1.5516
Sup. 1.5478 1.5370 1.5281
[ATTACH]7669[/ATTACH]
USDCHF
Yesterday, the pair rose reaching the resistance level 0.9525 which is still holding against the pair till now, and it is important to notice that this level coincides with the top boarder of the bearish channel in which the pair is moving for the medium period so the expectations refer to the possibility of holding this level against the pair testing and reflecting the pair down trying to correct this rising during the intraday levels targeting the support level 0.9385 which coincides with the medium boarder of this bearish channel.
It is important to note that if the pair succeeded to break the resistance level 0.9525 with a good close above, means the tendency of the pair to gain more rising during the intraday and the medium-term trades and also means its exiting out of this channel to target the resistance level 0.9725 as the first target of this rising.
RES. 0.9561 0.9632 0.9759
Pivot 0.9442
Sup. 0.9367 0.9246 0.9173
[ATTACH]7667[/ATTACH]
USDCAD
As expected through yesterday report, the pair was pushed up breaking the resistance level 0.9949 with breaking the upper boarder for the bearish channel, this bullish move represents the beginning of a correction bullish direction from the expected to be continued during the next trades, whereas the pair is targeting to reach the level 1.0049 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0208 to 0.9889 ) and also represents the target for the broken channel, a further rise is also expected by breaking the resistance level 1.0049 then reaching the level 1.0133 which represents 76.4% Fibonacci retracement correction level for the same mentioned bearish direction.
This expectation depends on the stability of the support level 0.9964.
Res. 1.0040 1.0097 1.0159
Pivot 0.9978
Sup. 0.9921 0.9859 0.9802
[ATTACH]7666[/ATTACH]
AUDUSD
The pair wasn’t satisfied by reaching the level 1.0065 during yesterday trades which represents the targeted price for the broken down bullish channel but it continued falling breaking the support level 1.0043 which represents 50% Fibonacci retracement correction level for the bullish direction ( from 0.9830to 1.0255 ) whereas the pair is trading now near the level 0.9993 which represents 61.8% Fibonacci retracement level for the same mentioned bullish direction which also with breaking it down means falling till the level 0.9930
This expectation depends on the stability of the resistance level 1.0065.
Res. 1.0136 1.0223 1.0278
Pivot 1.0081
Sup. 0.9994 0.9939 0.9858
[ATTACH]7665[/ATTACH]
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EURUSD
The European currency is still declining deeply against the American dollar, the end of the last week trades saw a new downtrend pushed the pair to break the important support level 1.2970; this breaking shifted the strength of the bearish positions on the pair and caused the continuation of forming short and medium-terms downtrend, it is expected that the pair will continue declining targeting the level 1.2823 which represents 161.8% Fibonacci continuous level for the uptrend (from 1.3055 to 1.3430) at which the price expected to coincide with the pitchfork bottom line on the same direction that mentioned before.
The stability of these expectations requires the stability of the resistance level 1.2970.
Res. 1.2987 1.3062 1.3103
Pivot 1.2946
Sup. 1.2872 1.2832 1.2755
[ATTACH]7727[/ATTACH]
GBPUSD
The pair is moving around the only level 1.5475 for the third straight week which was a resistance level for the pair and was unable to be stable and the pair succeeded to break it and closed the last week trades above reaching to test the resistance level 1.5545 which is still stable against the pair testing till now, with expectations of more rising during the upcoming trades but under the condition of breaking this level with a good close above.
So that, it is not recommended to have any bullish positions until breaking the resistance level 1.5545 to target then the resistance level 1.5640 as the first target of this rising.
The stability of these expectations requires the stability of the support level 1.4575.
RES. 1.5622 1.5689 1.5795
Pivot 1.5513
Sup. 1.5448 1.5338 1.5270
[ATTACH]7728[/ATTACH]
USDCHF
Yesterday, the pair succeeded to exit this bearish channel in which the pair was moving for the medium period after breaking the resistance level 0.9525 that was mentioned yesterday, so the bullish direction for the intraday levels has been confirmed after breaking this level, expecting more rising during the upcoming trades targeting to test the resistance level 0.9740 which represents the target of exiting this bearish channel.
The stability of these expectations requires the stability of the support level 0.9525.
Yesterday analysis is still remaining till now
RES. 0.9706 0.9741 0.9793
Pivot 0.9654
Sup. 0.9617 0.9567 0.9532
[ATTACH]7726[/ATTACH]
USDCAD
The issued Canadian data through the end of last week is positive which pushed the Canadian dollar up against the U.S dollar again, this bullish move for the Canadian dollar reflects forming the pair a new bearish top near the resistance level 1.0011 pushed from it the pair down to retest the nearest resistance level from it the level 0.99889 which the pair trades near it during the intraday trades, in case of willing the pair of continue forming the bearish directions; the support level 0.9889 must be broken then the pair will continue falling till the next support level at 0.9830, this bearish scenario depends on the stability of the bearish trend line for the short-term with the stability of the resistance level 1.0011.
Res. 0.9984 1.0045 1.0088
Pivot 0.9941
Sup. 0.9880 0.9837 0.9776
[ATTACH]7724[/ATTACH]
AUDUSD
The pair direction is still the bearish direction for the short-term, whereas the trades are still below the bullish trend line for the medium and the short-term which as broken down before, during the last intraday trades it's noticed that the pair is in the process of forming a continuous pattern for the bearish direction, which is the symmetrical triangle and this pattern came to support the dominant bearish direction till now on the pair trading, it's expected that with breaking the lower board of the pattern and also with breaking the support level 0.9905 to continue the pair falling till the support level 0.9830 which represents the targeted price for the pattern.
This expectation depends on the stability of the resistance level 0.9990.
Res. 1.0004 1.0039 1.0089
Pivot 0.9954
Sup. 0.9919 0.9868 0.9834
[ATTACH]7725[/ATTACH]
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EURUSD
The bearish direction is still dominating the pair trades till now whereas, the pair continued declining during yesterday trades forming a new bearish bottom at the level 1.2875, the pair used this bottom to push rising to re-test the nearest resistance levels. till now the pair is still unable to pass the resistance level 1.2970 so, if this level continued stable, it is expected that the pair will decline again to re-test the support level 1.2875 which with its breaking down means continuation of forming downtrend till reaching the level 1.2823 which represents 161.8% Fibonacci continuous level for the bullish direction (from 1.3055 to 1.3430). In the case that the pair succeeded to overcome the resistance level 1.2970 means the beginning of a corrective uptrend for the last bearish wave targeting to reach the level 1.3055.
Res. 1.2985 1.3019 1.3075
Pivot 1.2929
Sup. 1.2892 1.2832 1.2805
[ATTACH]7736[/ATTACH]
GBPUSD
As it was expected yesterday, the trades of the pair were confused whereas, the pair declined and reached the support level 1.5475 to collect the needed momentum in order to continue rising and close above the resistance level 1.5560. The pair now is almost finishing the stage of forming the harmonic pattern AB=CD to target then the resistance level 1.5645 during the intraday levels for today finishing the last rib of the pattern (CD) at this level.
The stability of these expectations requires the stability of the support level 1.5475.
RES. 1.5625 1.5678 1.5753
Pivot 1.5549
Sup. 1.5497 1.5421 1.5369
[ATTACH]7737[/ATTACH]
USDCHF
Yesterday, the pair succeeded to reach the resistance level 0.9740 but shifted down just when reached it, moving in a sideways direction during the last two days with the expectations of more rising during today's trades, but it is not recommended to have any bullish positions until breaking the resistance level 0.9740 in order to be the target of the pair is reaching the resistance level 0.9880 to test it which represents 76.4% Fibonacci correction level for the last medium-term bearish wave.
The stability of these expectations requires the stability of the support level 0.9595.
RES. 0.9724 0.9774 0.9821
Pivot 0.9677
Sup. 0.9627 0.9577 0.9530
[ATTACH]7735[/ATTACH]
USDCAD
Yesterday, the pair trades were in a narrow range, confused and volatile, this narrow trades is needed in collecting the momentum which will the pair use to form the next trades direction. if the pair breaks the support level 0.9889, it will continue falling till reaching the next support level at 0.9830 and in case of breaking the bearish trend line for the short-term, the pair will continue rising till the resistance level 1.0011which also with breaking it up the pair will be able to form the bullish correction direction for the last bearish direction which has started from the level 1.0208
Res. 0.9971 1.0012 1.0044
Pivot 0.9940
Sup. 0.9899 0.9868 0.9827
[ATTACH]7734[/ATTACH]
AUDUSD
The pair direction is still the bearish direction for the medium and the short-terms, as mentioned in yesterday report, the pair is a bearish targeted price for the symmetrical triangle by reaching the support level 0.9830 which was achieved during the last intraday trades, expecting a force on the pair trades that will continue falling to reach the level 0.9715 which represents 127% Fibonacci retracement continuous level for the bullish direction ( from 0.9830 to 1.0255 ) reaching this targeted price; the support level 0.9830must be broken with a good close below it.
This expectation depends on the stability of the resistance level 0.9905
Res. 0.9995 1.0036 1.0093
Pivot 0.9938
Sup. 0.9897 0.9840 0.9799
[ATTACH]7733[/ATTACH]
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EURUSD
last week trades saw a new rising for the European currency against the U.S dollar where the pair registered the highest price of these trades at the level 1.3457 and despite of this rising, the pair did not achieved a good close above the resistance level 1.3383 where the pair was pushed declining to re-test the support level 1.3320. The last week trades were consolidating between the resistance level 1.3383 and the support level 1.3320 and this week trades are also confined between these levels which represent the rectangle harmonic pattern, the resistance level 1.3383 performs as the top boarder and the support level 1.3320 performs as the bottom boarder, so it is expected with breaking any boarder of this harmonic pattern, the pair will continue the new direction and this means that if the pair broke the top boarder of this harmonic pattern, it will rise till reaching the targeted area between the levels 1.3446 and 1.3457. but if the pair broke the bottom boarder of this harmonic pattern, it will decline till reaching the targeted area between the levels 1.3255 and 1.3234 which represents 38.2% Fibonacci correction level for the bearish direction (from 1.2874 to 1.3457).
Res. 1.3450 1.3525 1.3593
Pivot 1.3382
Sup. 1.3307 1.3239 1.3164
[ATTACH]7784[/ATTACH]
GBPUSD
As it was expected previously, the pair succeeded to rise during last week trades whereas, the pair broke the resistance level 1.5775 and reached the resistance level 1.5880 and it is noticed that this level is holding against the pair testing expecting a corrective reflection to the pair during the upcoming intraday levels, targeting to re-test the broken price during the last week trades at the level 1.5775 as a support bottom that the pair will use to collect the needed momentum in order to continue rising.
It is important to mention that the inability of the level 1.5775 to hold against the pair re-testing will push the pair to reach the support level 1.5695 during today's trades.
The stability of these expectations requires the stability of the resistance level 1.5880.
RES. 1.5897 1.5932 1.5976
Pivot 1.5854
Sup. 1.5818 1.5778 1.5793
[ATTACH]7785[/ATTACH]
USDCHF
The resistance level 0.9740 succeeded to hold against the pair testing for the second straight time, this was on the contrary of the expectations that referred to more rising in order to shift the direction of the pair to the possibility of continuing the bearish direction during today's intraday levels to led the expectation of reaching the pair to test the support level 0.9595 which represents 38.2% Fibonacci correction level for the last long-term bearish wave, this level is an important one because of determining the direction of the pair during today's intraday trades so that, if the pair succeeded to break this level, it will target the support level 0.9485 so the bearish direction will be confirmed during the intraday levels and the short-term.
The stability of these expectations requires the stability of the resistance level0.9740.
RES. 0.9685 0.9724 0.9766
Pivot 0.9645
Sup. 0.9607 0.9564 0.9520
[ATTACH]7783[/ATTACH]
USDCAD
As mentioned in the chart; it's noticed that the pair is taking from the bearish direction for the medium and the short-terms a main sign for it, and this bearish direction is embodied through the movement inside the bearish channel, whereas the pair has formed a bearish top at the resistance level 0.9975 which coincides with the top boarder for the channel, the pair was pushed down from this top to retest the nearest support levels, whereas the intraday trades are around the support level 0.9877 which represents 76.4% Fibonacci retracement correction level for the bullish direction ( from 0.9846 to 0.9975). if the pair formed a new bottom at this level, the pair will continue rising again to retest the nearest resistance levels with testing the top boarder for the bearish channel which with breaking it up means a beginning of a correction bullish direction for a short-term, but in case of breaking the support level 0.9877 down means a further drop searching to form a new bearish bottom which is expected to be at the level 0.9812 which represents 127% Fibonacci retracement continuous level for the same bullish direction.
To reach this level, the support level 0.9846 must be broken.
Res. 0.9951 1.0009 1.0043
Pivot 0.9917
Sup. 0.9859 0.9825 0.9767
[ATTACH]7782[/ATTACH]
AUDUSD
The support level 0.9945 didn't succeed on stopping the bearish move which has began from the level 1.0018 and is nearly located at 50% Fibonacci retracement correction level for the bearish direction (from 1.0254 to 0.9803) and this bearish move was continued during last week trades until the pair found a good support level at 0.9850 where a new bottom were formed at it which the pair is still trading above. with the beginning of this week trades, if the pair didn't succeed on breaking this level down means a further drop till the next support level at 0.9803 which represents a major support level to the pair for the medium and the short-terms, if the pair keeps trading above this level means that the pair will return again to rise retesting the nearest resistance levels, but with breaking this level, it means that the bearish direction for the medium-term are continuing towards the support level 0.9740.
Res. 0.9972 1.0055 1.0115
Pivot 0.9912
Sup. 0.9831 0.9778 0.9688
[ATTACH]7781[/ATTACH]
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EURUSD
Yesterday trades saw declining the European currency against the U.S dollar, this declining came to correct the last bullish wave of the euro, it is noticed through this declining that the pair broke down the bottom boarder of the rectangle pattern that has been referred to it through yesterday report to continue declining, achieving the target of the rectangle pattern by reaching the support area between the levels 1.3255 and 1.3234 that represents 38.2% Fibonacci correction level for the bullish direction (from 1.2874 to 1.3457), the pair formed a consecutive bottoms at the mentioned area with a strong signal that the short-term correction is finished at these levels. It is noticed through the Asian period trades that the pair returned rising to re-test the bottom boarder of the rectangle pattern at the resistance level 1.3320 and if the pair broke this level up during the upcoming trades, it will continue rising, targeting the level 1.3383 which with its breaking up the pair will rise targeting to re-test the resistance level 1.3457.
The stability of these expectations requires the stability of the support level 1.3234.
Res. 1.3371 1.3448 1.3512
Pivot 1.3307
Sup. 1.3230 1.3166 1.3089
[ATTACH]7808[/ATTACH]
GBPUSD
The bullish direction is still dominating the short and medium-term move of the pair, the pair succeeded while rising to break the level 1.5930 to confirm the tendency of the pair to continue rising and expecting more rising during today's intraday levels, targeting the resistance level 1.6070 but under the condition of holding the support level 1.5930 but in case of breaking this level during today's intraday trades, the pair will push in order to re-test the support level 1.5820.
RES. 1.5948 1.6010 1.6067
Pivot 1.5891
Sup. 1.5829 1.5772 1.5710
[ATTACH]7809[/ATTACH]
USDCHF
The resistance level 0.9740 succeeded to hold against the pair testing for the second straight time, this was on the contrary of the expectations that referred to more rising in order to shift the direction of the pair to the possibility of continuing the bearish direction during today's intraday levels to led the expectation of reaching the pair to test the support level 0.9595 which represents 38.2% Fibonacci correction level for the last long-term bearish wave, this level is an important one because of determining the direction of the pair during today's intraday trades so that, if the pair succeeded to break this level, it will target the support level 0.9485 so the bearish direction will be confirmed during the intraday levels and the short-term.
The stability of these expectations requires the stability of the resistance level0.9740.
RES. 0.9672 0.9698 0.9722
Pivot 0.9648
Sup. 0.9622 0.9598 0.9572
[ATTACH]7807[/ATTACH]
USDCAD
The pair has succeeded yesterday on breaking the support level 0.9877 to continue falling, keeping forming the directions for the medium and the short-terms which embodied through the movement inside the bearish channel, expecting that the yesterday scenario will be continued till reaching the pair the level 0.9812 which represents 127% Fibonacci retracement continuous level for the bullish direction ( from 0.9847 to 0.9975 ). Reaching this level, the support level 0.9847 must be broken. It is expected that the price will coincide by reaching the support level 0.9812 with the bottom boarder for the bearish channel expecting to form a bearish bottom which the pair will use to rise again to retest the nearest resistance levels.
Res. 0.9892 0.9916 0.9935
Pivot 0.9873
Sup. 0.9849 0.9835 0.9806
[ATTACH]7806[/ATTACH]
AUDUSD
As noticed in the chart; the pair is in process of forming a harmonic pattern ( Gartley ) in which the AB rib has came by 50% Fibonacci retracement correction level for the XA rib and the BC rib which represents 76.4% Fibonacci retracement correction level for the AB rib, so it is expected that the pattern will be completed at the D point which is located at the confined area between the level 1.0060 which represents 127% Fibonacci retracement correction level for the BC rib and the level 1.0082 which represents 61.8% Fibonacci retracement correction level for the XA rib therefore with continuing the pair rising during the next trades and breaking the resistance level 1.0018 which represents the B point, the pair will continue rising to form the CD rib which is expected to be completed at the mentioned area.
This expectation depends on the stability of the support level 0.9850.
Res. 0.9972 1.0055 1.0115
Pivot 0.9912
Sup. 0.9831 0.9778 0.9688
[ATTACH]7805[/ATTACH]
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