GIGFX Technical Analysis Report For Majors (Updated Daily) - page 8
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EUR/USD
As it was expected through yesterday report, the pair continued a short-term corrective bearish direction whereas, it was able to break the support level 1.4131 which represents 23.6% Fibonacci's correction level for the bullish wave (from 1.3752 to 1.4248) to continue declining achieving the lowest price during yesterday trades at 1.4077. It is expected that the pair will continue its corrective bearish direction till reaching the support level 1.4035 at which the price is supposed to coincide with the medium-term bullish trendline. This scenario will be confirmed after breaking the level 1.4077.
The stability of these expectations requires the stability of the resistance level 1.4131.
Res: 1.4180 1.4265 1.4317
Pivot: 1.4128
Sup: 1.4043 1.3991 1.3906
[ATTACH]8366[/ATTACH]
GBP/USD
The pair continued declining for the second straight day as the pair broke the level 1.6235 which represents 38.2% Fibonacci's correction level for the last short-term bullish wave at the beginning of today's session, now the pair is trying to reach the support level 1.6185 which represents 50.0% of the same mentioned level expecting more decline targeting the support level 1.6135 which represents 61.8% of the same mentioned level during today's intraday trades.
The stability of these expectations requires the stability of the resistance level 1.6235.
Res: 1.6343 1.6445 1.6507
Pivot: 1.6281
Sup: 1.6179 1.6117 1.6015
[ATTACH]8367[/ATTACH]
USD/CHF
Yesterday trades saw forming a bottom at the support level 0.8978 where this level succeeded to stop the bearish wave then the pair used this formed bottom to rise again till reached the resistance level 0.9088 which represents 38.2% Fibonacci's correction level for the bearish wave (from 0.9368 to 0.8915), the pair continued rise breaking this level expecting more rising till reaches the resistance level 0.9195 which represents 61.8% Fibonacci's correction level for the same bearish wave and in order to reach this level, the pair should break the resistance level 0.9142 with stability above.
The stability of these expectations requires the stability of the support level 0.9088.
Res: 0.9118 0.9158 0.9228
Pivot: 0.9048
Sup: 0.9008 0.8938 0.8898
[ATTACH]8368[/ATTACH]
USD/CAD
As noticed in the chart, the pair has formed a bullish channel during the previous trades for the short-term, the pair is standing now against the support level 0.9800 which represents the lower border for the bullish channel therefore it's expected after testing this border that the intraday pair trades will take the bullish direction till targeting the resistance level 0.9862.
In condition, the stability of the pair above the support level 0.9800 which represents the lower border for the bullish channel. But if the pair breaks the support level 0.9800 which represents the lower border for the channel, so the pair will decline targeting the support level 0.9735.
Res: 0.9838 0.9866 0.989
Pivot: 0.9814
Sup: 0.9786 0.9762 0.9734
[ATTACH]8369[/ATTACH]
AUD/USD
The pair used the formed bottom which is near to the support level 1.0050 to rise again breaking the bearish trendline for the medium and the short-terms and also breaking the resistance level 1.0127, expecting for the pair to continue rising during the next trades to reach the resistance level 1.0157 but to reach this level; the resistance level 1.0157 must be broken by a good close above it.
This expectation depends on the stability of the support level 1.0110.
Res: 1.0169 1.0208 1.0261
Pivot: 1.0116
Sup: 1.0077 1.0024 0.9985
[ATTACH]8370[/ATTACH]
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EUR/USD
The pair continued the corrective bearish direction for the short-term that was mentioned in the previous report till reached the level 1.4059 which represents 38.2% Fibonacci's correction level for the bullish move (from 1.3752 to 1.4248) registering the highest price during yesterday trades at the level 1.4053 which coincides with the medium-term bullish trendline, a bottom has been formed at this area and the pair used it to rise again to re-test the nearest resistance levels till reached the resistance level 1.4215. It is expected that the pair will continue rising in order to continue the major bullish direction for the medium and the long-term, and also expected with breaking the resistance levels 1.4215 and 1.4248, the pair will continue rising till reaches the level 1.4289 which represents 127% Fibonacci's continuous level for the bearish wave (from 1.4248 to 1.4053).
The stability of these expectations requires the stability of the support level 1.4145.
Res: 1.4243 1.4314 1.4409
Pivot: 1.4148
Sup: 1.4077 1.3982 1.3911
[ATTACH]8376[/ATTACH]
GBP/USD
As was expected yesterday, the pair declined till reached the support level 1.6135 which represents 61.8% Fibonacci retracement level for the last bullish wave on the short term trying to reach the most important support level during this declining wave at the level 1.6070 which represents 76.4% Fibonacci retracement level which also coincides with the lower boarder of the bullish pitchfork for the last bearish corrective wave on the long term. This is level will determine the direction of the pair in the next trades where the most problae to hold this level and the pair will try to rise targeting the resistance level 1.6235 during today’s intraday trades
This expectation depends on the stability of the support level 1.6070
Res: 1.6227 1.6334 1.6402
Pivot: 1.6159
Sup: 1.6052 1.5984 1.5877
[ATTACH]8377[/ATTACH]
USD/CHF
Through this chart it is noticed that, the pair is in the forming stage of AB=CD harmonic pattern where the resistance level 0.9125 represents the point B and if the pair succeeded to break this level during the upcoming trades, it will continue forming the bullish rib CD which targets to reach the resistance area between the resistance levels 0.9170 and 0.9195 which represents 61.8% Fibonacci’s correction level for the bearish move (from 0.9368 to 0.8915), this area represents the point D that completes the harmonic pattern
The stability of these expectations requires the stability of the support level 0.9027.
Res: 0.9129 0.9175 0.9225
Pivot: 0.9079
Sup: 0.9033 0.8983 0.8937
[ATTACH]8378[/ATTACH]
USD/CAD
As noticed in the chart, the pair is moving inside the pitchfork channel for the last bullish wave for the short-term therefore the pair’s ability on breaking the support level 0.9744 by a good close below it will lead the pair to target the support level 0.9699
But in case the pair tried to test the resistance level 0.9779 with a good close above it, so the pair will target the resistance level 0.9839.
Res: 0.9792 0.9854 0.9885
Pivot: 0.9761
Sup: 0.9699 0.9668 0.9606
[ATTACH]8379[/ATTACH]
AUD/USD
The Australian dollar is continuing rising against the American dollar, whereas the pair was able to break the resistance level 1.0200 which was the expected targeted level during the previous reports, breaking the level 1.0200 is a strong signal on continuing the bullish direction for the long-term, whereas the pair is on it's way to test the level 1.0255 during the intraday trades which is the highest historical level for the pair, if the pair is able to break this level so, the pair will continue rising till reaching the level 1.0334 which represents 127% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ).
This expectation depends on the stability of the support level 1.0200.
Res: 1.0252 1.0297 1.0368
Pivot: 1.0181
Sup: 1.0136 1.0065 1.0020
[ATTACH]8380[/ATTACH]
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Try looking at some other submissions to CRYPTO if you want to know what they are looking for. I think they want pdfs with authors and titles clearly visible at the top of the paper. If in doubt, ask CRYPTO about the finer points of how they like their submissions.
EUR/USD
On the contrary of what was expected, the trades of the end of the last week was unable to break the resistance level 1.4215 to form a new top that pushed the pair down again, this decline pushed the pair to break the bullish trendline for the medium-term at the level 1.4059 which represents 38.2% of Fibonacci's correction level for the bullish wave (from 1.3752 to 4248). At the beginning of this week trades, the pair registered a bearish gap which was the reason to break the formed bottom at the level 1.4059 to support continuing its corrective bearish direction, its continuity will be confirmed after breaking the support level 1.4035 during the upcoming trades then the pair will target to reach the level 1.3941 which represents 61.8% of Fibonacci's correction level for the same bullish wave that was mentioned before.
Res: 1.4170 1.4251 1.4309
Pivot: 1.4112
Sup: 1.4031 1.3973 1.3892
[ATTACH]8397[/ATTACH]
GBP/USD
The pair declined at the end of the last week trades and the beginning of this week trades reaching the support level 1.5970 which was a start point of a bullish wave expecting more decline during today's intraday trades targeting the support level 1.5855 but under the condition of holding steady below support level 1.5970 that the pair is moving around till now.
The stability of these expectations requires the stability of the resistance level 1.6070.
Res: 1.6118 1.6195 1.6251
Pivot: 1.6062
Sup: 1.5985 1.5929 1.5852
[ATTACH]8398[/ATTACH]
USD/CHF
The harmonic pattern AB=CD has been completed by reaching the pair to the point D between the level 0.9170 and the resistance level 0.9195 which represents 61.8% of Fibonacci's correction level for the bearish wave (from 0.9368 to 0.8915). At the beginning of this week trades, the pair pushed breaking the resistance level 0.9195 to confirm its tendency of continuing rising, targeting to reach the level 0.9261 which represents 76.4% of Fibonacci's correction level for the same mentioned bearish wave.
The stability of these expectations requires the stability of the support level 0.9170.
Res: 0.9249 0.9301 0.9388
Pivot: 0.9162
Sup: 0.9110 0.9023 0.8971
[ATTACH]8399[/ATTACH]
USD/CAD
As noticed in the chart, during the previous medium-term trades the pair formed a double consecutive bottoms at the support level 0.9744 therefore it's expected during the intraday trades that the pair will test the resistance level 0.9825 which represents the midline for the formed pattern. if the pair was able to break it with stability above it, then the pair will target the resistance level 0.9865 and the stability above this level, will give the pair a chance to continue rising till the resistance level 0.9905.
Res: 0.9837 0.9874 0.9923
Pivot: 0.9788
Sup: 0.9751 0.9702 0.9665
[ATTACH]8400[/ATTACH]
AUD/USD
The end of last week Australian dollar trades registered a new record against the American dollar by reaching the level 1.0292 whereas the pair is continuing forming the bullish direction which is embodied through the movement inside the bullish channel, whereas it is expected during the next trades that with breaking the level 1.0292, the pair will continue rising till the level 1.0334 which represents 127% Fibonacci retracement correction level for the bearish direction ( from 1.0200 to 0.9705 ).
This expectation depends on the stability of the support level 1.0200.
Res: 1.0305 1.0352 1.0412
Pivot: 1.0245
Sup: 1.0198 1.0138 1.0091
[ATTACH]8401[/ATTACH]
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EUR/USD
Yesterday trades were in a narrow range and reflect collecting the momentum that will determine the upcoming direction, it is noticed that, the pair was unable to break the support level 1.4035 forming a short-term bearish bottom that the pair used it to push rising to re-test the nearest resistance levels and also targeting to re-test the bullish trendline which was broken down before so that, it is expected that, the pair will form a short-term bearish top at which the price is expected to coincide with the meeting point of the broken down bullish trendline with the short-term bearish trendline with the confused area between the resistance levels 1.4143 and 1.4173 which represent 61.8% and 76.4% fibonacci's correction levels for the bearish wave (from 1.4219 to 1.4020).
After forming the expected bearish top it is expected that, the pair will return declining to re-test the support level 1.4035.
The stability of these expectations requires the stability of the resistance level 1.4173.
Res: 1.4127 1.4168 1.4222
Pivot: 1.4073
Sup: 1.4032 1.3978 1.3937
[ATTACH]8405[/ATTACH]
GBP/USD
The pair declined at the end of the last week trades and the beginning of this week trades reaching the support level 1.5970 which was a start point of a bullish wave expecting more decline during today's intraday trades targeting the support level 1.5855 but under the condition of holding steady below support level 1.5970 that the pair is moving around till now with the probability of rising the pair to re-test the resistance level 1.6070 again.
The stability of these expectations requires the stability of the resistance level 1.6070.
Res: 1.6039 1.6087 1.6139
Pivot: 1.5987
Sup: 1.5939 1.5887 1.5839
[ATTACH]8406[/ATTACH]
USD/CHF
The pair failed to break the resistance level 0.9228 forming a top that forced it to decline again whereas, the pair now is trading around the support level 0.9142 which represents 0.9142 which represents 50.0% Fibonacci's correction level for the bearish wave (From 0.9368 to 0.8915) that was broken before. If the pair formed a bottom at this level, it will coincide with the bullish trendline for the short-term then the pair will rise to try to break the level 0.9228 which with its breaking up means more rise till reach the level 0.9261 then the level 0.9368, but if the pair broke the support level 0.9142 it will decline again till reach the support level 0.9022.
Res: 0.9217 0.9267 0.9300
Pivot: 0.9184
Sup: 0.9134 0.9101 0.9051
[ATTACH]8407[/ATTACH]
USD/CAD
As noticed in the chart that the pair is not still moving with a sideway direction for the short-term trades and the intraday levels inside the sideway channel between the resistance level 0.9827 which represents the top border for the channel and the support level 0.9748 which represents the lower border for the channel expecting for it to try reaching the resistance level 0.9827 which represents the top border for the channel to test it, by breaking the pair this level and the stability above it, therefore the pair will target the resistance level 0.9864 then the level 0.9905.
This scenario depends on the stability of the pair above the support level 0.9748.
Res: 0.9820 0.9863 0.9904
Pivot: 0.9779
Sup: 0.9736 0.9695 0.9652
[ATTACH]8408[/ATTACH]
AUD/USD
During yesterday trades the Australian dollar registered a new record against the American dollar by reaching the level 1.0312 whereas a new top has been formed at this level which pushed the pair down retesting the nearest support levels, as noticed in the chart that there's a complement positive divergence for the bullish direction, therefore it's expected during the next trades that the pair will rise again to retest the level 1.0312 which with breaking it up the pair will continue rising till the level 1.0334 which represents 127% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ).
This expectation depends on the stability of the support level 1.0200.
Res: 1.0292 1.0342 1.0372
Pivot: 1.0262
Sup: 1.0212 1.0182 1.0132
[ATTACH]8409[/ATTACH]
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EUR/USD
As it was expected through yesterday report, the pair formed a bearish top between the resistance levels 1.4143 and 1.4173 which represent 61.8% and 76.4% of Fibonacci's correction level for the bearish wave (from 1.4219 to 1.4020), this top coincided with the meeting point of the broken down bullish trendline with the short-term bearish trendline, this top pushed the pair down to decline again till formed a bottom around the support level 1.4035. The rose again to test the nearest resistance level, these bullish and bearish moves require breaking the support level 1.4035 or breaking the resistance level 1.4143 to form a clear move. If the pair broke the resistance level 1.4143 with breaking the bearish trendline for the short-term, it will rise targeting the resistance level 1.4248, and if the pair broke the support level 1.4035, it will decline targeting the level 1.3941 which represents 61.8% of Fibonacci's correction level for the bullish move (from 1.3752 to 1.4248).
Res: 1.4159 1.4205 1.4261
Pivot: 1.4103
Sup: 1.4057 1.4001 1.3955
[ATTACH]8415[/ATTACH]
GBP/USD
The pair declined at the end of the last week trades and the beginning of this week trades reaching the support level 1.5970 which was a start point of a bullish wave expecting more decline during today's intraday trades targeting the support level 1.5855 but under the condition of holding steady below support level 1.5970 that the pair is moving around till now with the probability of rising the pair to re-test the resistance level 1.6070 again.
The stability of these expectations requires the stability of the resistance level 1.6070.
Yesterday analysis remains
Res: 1.6053 1.6096 1.6151
Pivot: 1.5998
Sup: 1.5955 1.5900 1.5857
[ATTACH]8416[/ATTACH]
USD/CHF
As it was expected through yesterday report, the pair formed a bullish bottom at the support level 0.9142 which represents 50.0% of Fibonacci's correction level for the bearish move (from 0.9368 to 0.8915) using the coinciding with the bullish trend line for the short-term, the pair used this bottom to rise again till reached the resistance level 0.9228 that the last intraday trades were around trying to confirm breaking this level in order to continue rise targeting to reach the level 0.9261 followed by the resistance level 0.9368.
The stability of these expectations requires the stability of the support level 0.9190.
Res: 0.9237 0.9273 0.9322
Pivot: 0.9188
Sup: 0.9152 0.9103 0.9067
[ATTACH]8417[/ATTACH]
USD/CAD
During the previous trades for the medium-term the pair was moving by a sideway direction inside the sideway channel but at the beginning of the Asian trades for today the pair broke this channel down and breaking the support level 0.9741 which represents the lower border for the channel therefore it's expected that the declining scenario will be continued till targeting the pair the support level 0.9696 and the stability of the pair below this level which advantages the pair to continue declining till reaching the support level 0.9655.
This scenario depends on the stability of the pair below the resistance level 0.9741.
Res: 0.9770 0.9800 0.9816
Pivot: 0.9754
Sup: 0.9724 0.9708 0.9678
[ATTACH]8418[/ATTACH]
AUD/USD
The Asian trades registered a new record by reaching the pair the level 1.0334 and this level was mentioned before in the last previous reports whereas this level represents 127% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ), this bullish move was mentioned in yesterday report and also the appearance of a positive divergence completing the bullish direction, therefore the pair formed a new bullish bottom nearest the support level 1.0200 which pushed the pair up till it reached to achieve a new record, it's expected during the next trades that breaking the resistance level 1.0334 the pair will continue rising reaching the level 1.0380 then the level 1.0422 which represents 161.8% and 200% Fibonacci retracement continuous level for the bearish direction ( from 1.0312 to 1.0202 ).
This expectation depends on the stability of the support level 1.0260.
Res: 1.0322 1.0355 1.0415
Pivot: 1.0262
Sup: 1.0229 1.0169 1.0136
[ATTACH]8419[/ATTACH]
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EUR/USD
The pair succeeded to break up the short-term bearish trendline giving a strong sign that the pair is tending to form bullish direction for the medium and the long-term. During the current intraday trades the pair is trying to break the resistance level 1.4143 which represents 61.8% of Fibonacci's correction level for the bearish wave (from 1.4219 to 1.4020) and it is in its way to test the resistance level 1.4173 which represents 76.4% of Fibonacci's correction level for the same bearish wave. If the pair succeeded to break this level with stability above, it will continue rise targeting to reach the level 1.4248 and this is the most likely scenario to happen during the upcoming trades.
The stability of these expectations requires the stability of the support level 1.4110.
Res: 1.4159 1.4205 1.4261
Pivot: 1.4103
Sup: 1.4057 1.4001 1.3955
[ATTACH]8435[/ATTACH]
GBP/USD
The bearish direction is dominating the short-term trades of the pair reaching the support level 1.5950 and it is noticed that the pair tested this level two consecutive times forming a double bottom reversal pattern and by drawing Fibonacci's correction levels for the short-term bearish wave, it is noticed that the bottom boarder of this pattern is at the level 1.6045 which represents 23.6% of Fibonacci's correction level and the targets of the pattern are corresponded with these Fibonacci's percentages as the first target is at the resistance level 1.6110 which represents 38.2% of Fibonacci's correction level which the pair is now moving around, and the last target is at the resistance level 1.6165 which represents 50.0% of Fibonacci's correction level so, it is expected that, the pair may rise targeting the resistance level 1.6165 but under the condition of breaking the resistance level 1.6110 with stability above.
The stability of these expectations requires the stability of the support level 1.6045.
Res: 1.6109 1.6147 1.6213
Pivot: 1.6043
Sup: 1.6005 1.5939 1.5901
[ATTACH]8436[/ATTACH]
USD/CHF
The pair continued rising till reached the level 0.9261 which represents 76.4% Fibonacci correction level for the bearish wave (from 0.9368 to 0.8915) forming a top and used it to push declining, a bearish move for the stochastic index appeared while the price action had the bullish move, this means the existence of negative divergence that shifts the bullish direction for the short-term and so a decline move from the formed top has been noticed in order to break the bullish trendline for the short-term, and this confirms the tendency of the pair to continue declining for the short and the medium and the long-term but under the condition of breaking the support level 0.9142 then, the pair will continue declining targeting initially to reach the support level 0.9022.
The stability of these expectations requires the stability of the resistance level 0.9200.
Res: 0.9246 0.9308 0.9344
Pivot: 0.9210
Sup: 0.9148 0.9112 0.9050
[ATTACH]8437[/ATTACH]
USD/CAD
As noticed in the chart, the pair formed a bearish channel with a narrow range for the short-term trades therefore it's expected during the short-term trades that the pair will continue the bearish scenario till it targets the support level 0.9670 which represents the lower border for the channel but if the pair is able to break the resistance level 0.9715 which represents the top border for the channel with a stability above, then the pair will get out of this channel and it will target the resistance level 0.9756.
Res: 0.9744 0.9781 0.9811
Pivot: 0.9714
Sup: 0.9677 0.9647 0.9610
[ATTACH]8438[/ATTACH]
AUD/USD
The Asian market trades saw registering a new record by reaching the level 1.0345, whereas the pair’s direction is still bullish which is embodied through the movement inside the bullish channel, i's expected that during the next trades with confirming breaking the level 1.0345 up, the pair will continue rising till reaching the level 1.0380 then the level 1.0422 which represents 161.8% and 200% Fibonacci retracement correction level for the bearish direction (from 1.0312 to 1.0202).
This expectation depends on the stability of the support level 1.0290.
Res: 1.0350 1.0375 1.0415
Pivot: 1.0310
Sup: 1.0285 1.0245 1.0220
[ATTACH]8439[/ATTACH]
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EUR/USD
The trades of the end of the last week saw the pair’s declining targeting to re-test the broken up bearish trendline where a bottom has been formed and coincided with the trendline and pushed the pair to rise again achieving a close around the resistance level 1.4248, at the beginning of this week trades it is expected that the pair will rise targeting the resistance level 1.4310 followed by the resistance level 1.4389 which represent 127% and 161.8% of Fibonacc's continuous levels for the bearish wave (From 1.4248 to 1.4020) and in order to reach these levels, the pair should break the resistance level 1.4248 with stability above.
The stability of these expectations requires the stability of the support level 1.4160.
Res: 1.4292 1.4360 1.4475
Pivot: 1.4177
Sup: 1.4109 1.3994 1.3926
[ATTACH]8457[/ATTACH]
GBP/ USD
As it was expected at the end of the last week trades, the pair succeeded to reach the support level 1.5985 which became a suitable bottom to achieve more gains for the intraday levels and for the short-term, the pair reflected up forming a harmonic pattern AB=CD which is almost done by reaching the resistance level 1.6185 which represents the point D for the formed pattern expecting the probability of corrective declining to the pair for the intraday levels targeting the support level 1.6080 before continuing to rise again trying to form a new top for this bullish wave for the short-term and the intraday trades expecting that, this formed top may be at the resistance level 1.6225 which represents 61.8% of Fibonacci’s correction level for the last bearish wave for the medium-term
It is important to notice that, the support level represents 61.8% of Fibonacci’s correction level for the last bearish wave BC and at the same time represents a middle line for a bullish channel in which the pair is moving expecting remaining the pair inside this channel during toda's intraday trades.
The stability of these expectations requires the stability of the support level 1.6080.
Res: 1.6171 1.6231 1.6331
Pivot: 1.6071
Sup: 1.6011 1.5911 1.5851
[ATTACH]8458[/ATTACH]
USD/CHF
It is noticed that the pair is forming a bullish direction for the short and the medium-term, this direction has been formed through moving inside a bullish channel for the short and the medium-term, the pair formed a bearish top coincided with the top border of the bullish channel that will push the pair to re-test the nearest support levels, expecting more decline for the pair targeting the bottom border of the bullish channel at which the price coincides with the level 0.9177 that represents 38.2% of Fibonacci's correction level for the bullish wave (From 0.8915 to 0.9339).
The stability of these expectations requires the stability of the resistance level 0.9290.
Res: 0.9330 0.9414 0.9489
Pivot: 0.9255
Sup: 0.9171 0.9096 0.9012
[ATTACH]8459[/ATTACH]
USD/CAD
As expected at the end of last week trades the pair declined trying to complete the (butterfly) harmonic pattern by reaching the price to the support level 0.9590 which represents the D point for the end of the pattern the pair was able to break the important support level 0.9670 which represents the X point for the pattern at the end of last week trades expecting for it a further drop during the intraday trades targeting the previous mentioned support level 0.9590.
Notable, that the formed pattern is a positive harmonic pattern which refers to the probability of reflecting the price up with a corrective reflection by a strong probability therefore with reaching the price to the end of the pattern it is recommended to observe the pair the price on appearance any reflecting sign for the price which means that there's a probability on reflecting the price up retesting the resistance level 0.9670 as it's first targeted price for this correction.
Success of this scenario up depends on the stability of the resistance level 0.9670.
Res: 0.9689 0.9737 0.9770
Pivot: 0.9656
Sup: 0.9608 0.9575 0.9527
[ATTACH]8460[/ATTACH]
AUD/USD
The Australian dollar is continuing the strong rising against the American dollar whereas during the end of last week trades, the pair registered a new record by reaching the level 1.0394, with opening this week trades the pair is continuing achieving a new records reaching the level 1.0416 nearest to 200% Fibonacci retracement continuous level for the direction ( from 1.0312 to 1.0202 ), this strong bullish move for the pair is still embodied through the movement inside the bullish channel therefore a further rise is expected with breaking the resistance level 1.0422 , the pair will target reaching the level 1.0506 which represents 161.8% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ) which is expected to coincide at it the price with the top border for the bullish channel.
This expectation depends on the stability of the support level 1.0334.
Res: 1.0416 1.0446 1.0498
Pivot: 1.0364
Sup: 1.0334 1.0282 1.0252
[ATTACH]8461[/ATTACH]
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EUR/USD
Yesterday trades were in a narrow range, this reflects collecting of the needed momentum that the pair will use to determine the upcoming direction, the pair is unable to break the resistance level 1.4248 till now and if the pair broke this level with stability above during the upcoming trades, it will continue rising for short and medium-term targeting to reach the resistance level 1.4310 followed by the resistance level 1.4389 which represent 127% and 161.8% of Fibonacci's continuous levels for the bearish wave (from 1.4248 to 1.4020). If the pair broke the support level 1.4165, it will push declining to form a corrective bearish direction targeting to reach the support level 1.4050.
Res: 1.4261 1.4302 1.4337
Pivot: 1.4226
Sup: 1.4185 1.4150 1.4109
[ATTACH]8463[/ATTACH]
GBP/ USD
As it was expected through yesterday report, the pair reflected downwards after the pair completed forming the harmonic pattern AB=CD reaching the support level 1.6110 which represents 38.2% of Fibonacci's correction level for the last bearish wave for the medium-term expecting to take the needed push from the area between the support level 1.6110 and the level 1.6080 to form a bottom then it will rise upwards again targeting the resistance level 1.6225 but under the condition of breaking the resistance level 1.6185.
The stability of these expectations requires the stability of the support level 1.6080.
Res: 1.6170 1.6209 1.6243
Pivot: 1.6136
Sup: 1.6097 1.6063 1.6024
[ATTACH]8464[/ATTACH]
USD/CHF
As it was expected through yesterday report, the pair continued declining achieving the lowest price at the level 0.9190 around the support level 0.9177 which represents 38.2% of Fibonacci's correction level for the bullish wave (from 0.8915 to 0.9339) that is expected to be reached. The pair formed a bottom at the level 0.9190 and the pair used it to rise re-testing the nearest resistance level, the pair was unable to break the resistance level 0.9255 during the Asian market trades with a strong sign to continue declining during the upcoming trades to re-test the level 0.9190 at which the price is expected to coincide with the bottom border of the bullish channel in which the pair is still moving. Breaking the coinciding area means returning the pair to continue declining for the long-term targeting to reach the support level 0.9077.
The stability of these expectations requires the stability of the resistance level 0.9255.
Res: 0.9264 0.9299 0.9336
Pivot: 0.9227
Sup: 0.9192 0.9155 0.9120
[ATTACH]8465[/ATTACH]
USD/CAD
As noticed in the chart, the pair tried to complete the AB=CD harmonic pattern but the CD rib did not complete at the support level 0.9591 whereas the pair is now at the resistance level 0.9681, if the pair is able to break this level with stability above it then the pair will continue rising till reaching the resistance level 0.9729 which represents the B point with it's stability above this level means that the there's a probability for the pair to reach the C point at the resistance level 0.9828.
But in case of the pair inability to break the resistance level 0.9681, this gives the chance for the pair to complete the CD rib and completing the pattern at the level 0.9591.
Res: 0.9697 0.9727 0.9769
Pivot: 0.9655
Sup: 0.9625 0.9583 0.9553
[ATTACH]8466[/ATTACH]
AUD/USD
The last intraday trades saw breaking the bottom border for the bullish channel for the medium and the short-terms with a strong sign on the pair’s ability of forming a corrective bearish direction, i's noticed that there's a complement positive divergence for the bullish direction from the stochastic index, therefore to confirm the pair’s ability on forming the corrective bearish direction, the support level 1.0295 must be broken with a good close below it
The pair will continue declining till reaching the level 1.0200 initially, but if the pair breaks the resistance level 1.0370 the positive divergence will be confirmed then the pair will continue rising till reaching the level 1.0422 then the level 1.0506.
Res: 1.0405 1.0451 1.0486
Pivot: 1.0370
Sup: 1.0324 1.0289 1.0243
[ATTACH]8467[/ATTACH]
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EUR/USD
During yesterday trades, the pair formed a bullish bottom using the support level 1.4165 that was mentioned through the last report, the pair pushed from the formed bottom till reached to re-test the resistance level 1.4248 and tried to be stable during the last intraday trades, through rising and declining, the pair formed a harmonic pattern AB=CD where the support level 1.4165 represents the point C and the resistance level 1.4248 represents the point B so that, with breaking the point B, the pair will continue forming the bullish rib CD which targets to reach the confined area between the level 1.4360 and the level 1.4389 which represents 161.8% of Fibonacci’s continuous level for the bearish wave (from 1.4248 to 1.4020) which represents the point D that completes the pattern
The stability of these expectations requires the stability of the support level 1.4165.
Res: 1.4261 1.4300 1.4355
Pivot: 1.4206
Sup: 1.4167 1.4112 1.4073
[ATTACH]8472[/ATTACH]
GBP/ USD
As it was expected yesterday, the pair rose targeting the resistance level 1.6225 in a violent trades and buying momentum that led to breaking up this level reaching the resistance level 1.6350 that the pair is testing now, it is expected that the pair will continue rising during today's intraday trades targeting the resistance level 1.6399 at which the pair formed a top previously for the medium-term, this level is important because it will determine the upcoming direction during the short and the medium-term trades.
The stability of these expectations requires the stability of the support level 1.6290.
Res: 1.6364 1.6432 1.6569
Pivot: 1.6227
Sup: 1.6159 1.6022 1.5954
[ATTACH]8473[/ATTACH]
USD/CHF
The pair is still moving inside a short and medium-term bullish channel, yesterday trades were in a narrow range which reflects collecting of the momentum that will determine the next direction. It is noticed that the pair is trying to form a new top at the resistance level 0.9290 and it is the second consecutive top at the same level thus, the first condition of existing the double bottom reversal pattern is available. The last condition of existing this pattern is breaking the neck line at the support level 0.9210, so it is expected during the upcoming trades that, the pair will decline testing the support level 0.9210 at which the price will coincide with the bottom border of the bullish channel, and if the pair was unable to break down this area, this means declining the pair till reaches the level 0.9127 which represents 50.0% of Fibonacci's correction level and at the same time represents the target of the pattern.
The stability of these expectations requires the stability of the resistance level 0.9290.
Res: 0.9280 0.9308 0.9346
Pivot: 0.9242
Sup: 0.9214 0.9176 0.9148
[ATTACH]8474[/ATTACH]
USD/CAD
As noticed in the chart, the pair yesterday was not able to break the resistance level 0.9681 then it reflected again to complete the CD rib for the AB=CD harmonic pattern, completing the pattern at the support level 0.9591 but the support level 0.9617 must be broken to complete the CD rib by reaching the D point, therefore it's expected in that case; the pair will retest the resistance level 0.9681 and the stability above it, will give the pair a chance to target the resistance level 0.9729 which represents the B point.
This expectation depends on the stability of the pair above the resistance level 0.9591 which represents the D point.
Res: 0.9661 0.9687 0.9705
Pivot: 0.9643
Sup: 0.9617 0.9599 0.9573
[ATTACH]8475[/ATTACH]
AUD/USD
As expected in yesterday report, the pair formed a bottom at the level 1.0295 supported by the complement positive divergence bullish direction, whereas the pair is on it's way to retest the bottom border for the previous broken down bullish channel, if the pair is able to break this bottom border with breaking the resistance level 1.0422, the pair will continue rising till reaching the resistance level 1.0506.
This expectation depends on the stability of the support level 1.0295.
Res: 1.0370 1.0413 1.0455
Pivot: 1.0328
Sup: 1.0285 1.0243 1.0200
[ATTACH]8476[/ATTACH]
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