GIGFX Technical Analysis Report For Majors (Updated Daily) - page 9
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EUR/USD
Yesterday trades saw the confirmation of breaking the resistance level 1.4248 which represents the point B of the harmonic pattern AB=CD, the European currency continued rising against the American dollar and succeeded to break the resistance level 1.4310 to end yesterday trades achieving the highest price at the level 1.4350 around the point D. the pair formed a top and used it to decline during the Asian market period trying to form a new bullish bottom that is expected to be around the support level 1.4275, the pair will use this bottom to rise targeting to reach the resistance level 1.4389.
The stability of these expectations requires the stability of the support level 1.4248.
Res: 1.4384 1.4437 1.4525
Pivot: 1.4296
Sup: 1.4243 1.4155 1.4102
[ATTACH]8480[/ATTACH]
GBP/ USD
Yesterday, the pair continued rising till reached the level 1.6330 that has been tested two consecutive times and still resisting the rise of the pair and this led the pair to form a double tops pattern that shifts the bullish direction to bearish direction, but in order to confirm this pattern forming, the pair should break the support level 1.6260 which represents the base of the pattern to target then the support level 1.6200 which represents 38.2% of Fibonacci's correction level for the last bullish wave for the near-term.
The stability of these expectations requires the stability of the resistance level 1.6330.
Res: 1.6376 1.6422 1.6482
Pivot: 1.6316
Sup: 1.6270 1.6210 1.6164
[ATTACH]8481[/ATTACH]
USD/CHF
As it was expected through yesterday report, the pair formed the second top for the double tops harmonic pattern at the resistance level 0.9290 and it was pushed declining breaking the neck line of the pattern at the support level 0.9210 and also broke the bottom border of the bullish channel in which the pair was moving for the near and the medium-term. The pair continued declining till reached the level 0.9127 which represents 50.0% of Fibonacci's correction level for the bullish move (from 0.8915 to 0.9339) and also represents the target of the pattern. After the pair exited out of the range of the bullish channel, the pair may target to reach the level 0.9015 which represents 76.4% of Fibonacci's correction level but under the condition of breaking the support levels 0.9127 and 0.9077.
The stability of these expectations requires the stability of the resistance level 0.9210.
Res: 0.9276 0.9363 0.9436
Pivot: 0.9203
Sup: 0.9116 0.9043 0.8956
[ATTACH]8482[/ATTACH]
USD/CAD
Yesterday the pair has completed the CD rib from the AB=CD harmonic pattern till it reached the support level 0.9588 and it gives a rising doji sign therefore the pair during the intraday trades will make a corrective rise which began since completing the previous mentioned CD rib the pair first targets is the resistance level 0.9681 and breaking the pair to this level and the stability above it, the pair will continue rising till it targets the resistance level 0.9729 which represents the B point for the formed pattern.
Res: 0.9641 0.9677 0.9714
Pivot: 0.9604
Sup: 0.9531 0.9669 0.9495
[ATTACH]8483[/ATTACH]
AUD/USD
Continuality for what was mentioned during the previous reports that the pair is continuing rising targeting a new record by reaching the level 1.0449 during yesterday trades after succeeding the pair on breaking the resistance level 1.0422, during the Asian trades the pair was able to break also the level 1.0449 continuing targeting a new records, therefore it's expected that the bullish move will be continued by reaching the level 1.0506 which represents 161.8% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ).
Res: 1.0487 1.0535 1.0622
Pivot: 1.0400
Sup: 1.0352 1.0265 1.0217
[ATTACH]8484[/ATTACH]
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EUR/USD
The ECB raised the interest rates 0.25% and this supports the rise of the European currency against the American dollar whereas, the pair is in the forming stage of another harmonic patter AB=CD where the rib BC represents 50.0% of Fibonacci's correction level for the rib AB so it is expected that, the rib CD will be completed at 200% of Fibonacci's continuous level for the rib BC, after the resistance level 1.4350 which represents the point B that has been broken during the Asian market trades, the pair will continue rising till reaching the level 1.4455 which represents 200.0% of Fibonacci's continuous level for the rib BC and also represents the point D that completes the pattern.
The stability of these expectations requires the stability of the support level 1.4350.
Res: 1.4349 1.4390 1.4443
Pivot: 1.4296
Sup: 1.4255 1.4202 1.4161
[ATTACH]8488[/ATTACH]
GBP/ USD
Yesterday, the pair continued rising after forming a pirate flag pattern which supports the continuity of the bullish direction. The pair broke the top border of this pattern reaching the resistance level 1.6380 that the pair is testing till the moment expecting more rising during today's intraday trades, supported by the formed pattern that was formed on yesterday's price action targeting the resistance level 1.6490 but under the condition of breaking the resistance level 1.6380.
The stability of these expectations requires the stability of the support level 1.6320.
Res: 1.6357 1.6393 1.6441
Pivot: 1.6309
Sup: 1.6273 1.6225 1.6189
[ATTACH]8489[/ATTACH]
USD/CHF
The pair is continuing its corrective bearish direction after breaking the bottom border of the bullish channel for the short and the medium-term. During the last trades, the pair tried to confirm breaking the support level 0.9127 which represents 50.0% of Fibonacci's correction level for the bullish move (from 0.8915 to 0.9339), if the pair broke this level with stability below, this will force the pair to decline targeting the level 0.9015 which represents 76.4% of Fibonacci continuous level for the same mentioned bullish direction furthermore, it also represents the target of breaking out of the bullish channel.
The stability of these expectations requires the stability of the resistance level 0.9190.
Res: 0.9192 0.9220 0.9240
Pivot: 0.9172
Sup: 0.9144 0.9124 0.9096
[ATTACH]8490[/ATTACH]
USD/CAD
The pair direction is the bearish direction for the medium and the short-terms whereas a harmonic pattern AB=CDis formed on the price movement and the pair is moving now in the last wave of the pattern which is the CD wave which also targets the support level 0.9479 to complete the pattern by forming this wave, therefore it's expected forthe pair to continue declining ( with the probability of retesting the price to the resistance level 0.9612 which represents the B point for the formed pattern ).
But succeeding this scenario up depends on the stability of the resistance level 0.9612.
Res: 0.9611 0.9643 0.9664
Pivot: 0.9590
Sup: 0.9558 0.9537 0.9505
[ATTACH]8491[/ATTACH]
AUD/USD
Continuality for what was mentioned in the previous reports that the pair is continuing rising achieving a new record by reaching the level 1.0506 during yesterday trades after succeeding the pair to break the resistance level 1.0449, the pair will try to get out of this bullish channel during the intraday trades to form a new bullish direction reaching the level 1.0695 which represents 200% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ), expecting that the price will get out of this channel after breaking the resistance level 1.0506 with a good close above it.
This expectation depends on the stability of the support level 1.0449.
Res: 1.0511 1.0555 1.0604
Pivot: 1.0462
Sup: 1.0418 1.0369 1.0325
[ATTACH]8492[/ATTACH]
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EUR/USD
The trades of last week saw the continuity of declining the European currency against the U.S dollar as the pair achieved the highest price in 15 months at the level 1.4482, by reaching this level, the pair completed the harmonic pattern AB=CD which was targeting the level 1.4455 that represents the point D that completes the pattern. Despite of this bearish beginning of this week's trades, this declining will not remain for a long time as it is expected with breaking the level 1.4482 that, the pair will continue rising targeting to reach the next resistance level at 1.4521.
The stability of these expectations requires the stability of the support level 1.4350.
Res: 1.4545 1.4609 1.4736
Pivot: 1.4418
Sup: 1.4354 1.4227 1.4163
[ATTACH]8503[/ATTACH]
GBP/ USD
The bullish direction is still dominating the price action of the pair for the near and long-term and also for the intraday levels. it noticed that the pair formed a harmonic pattern AB=CD and is moving in the range of the last wave CD which is supposed to target the resistance level 1.6490 in order to complete the pattern.
The stability of these expectations requires the stability of the support level 1.6325.
Res: 1.6440 1.6489 1.6553
Pivot: 1.6376
Sup: 1.6327 1.6263 1.6214
[ATTACH]8504[/ATTACH]
USD/CHF
The pair continued its corrective bearish direction for the short-term as it succeeded to break the support level 0.9127 which represents 50.0% of Fibonacci's correction level for the bullish move (from 0.8915 to 0.9339). The last intraday trades were at the support level 0.9077 expecting to break this level down targeting the level 0.9015 which represents 76.4% of Fibonacci's correction level for the same bullish move and also represents the target of breaking out this bullish channel.
The stability of these expectations requires the stability of the resistance level 0.9127.
Res: 0.9140 0.9196 0.9225
Pivot: 0.9111
Sup: 0.9055 0.9026 0.8970
[ATTACH]8505[/ATTACH]
USD/CAD
As noticed in the char for the medium and the long-terms, the pair is taking the bearish direction as a main direction till it's stability inside the bearish channel therefore it's expected that the pair will continue declining till re-testing the support level 0.9460 which represents the lower border for the bearish channel but if the pair broke the resistance level 0.9570 which represents the top border for the channel and the stability of the pair above it, then the pair will target the resistance level 0.9657.
Res: 0.9594 0.9628 0.9663
Pivot: 0.9559
Sup: 0.9525 0.949 0.9456
[ATTACH]8506[/ATTACH]
AUD/USD
Although of breaking the resistance level 1.0506 which represents 161.8% Fibonacci retracement complement level for the bearish direction ( from 1.0200 to 0.9705 ) however it's still unable to break the top border for the bullish channel, whereas the pair registered a new record by reaching the level 1.0565, expecting with succeeding in breaking this level and with getting out of the bullish channel then the pair will start to form a bullish sub-direction by reaching the level 1.0695 which represents 200% Fibonacci retracement continuous level for the same previous mentioned bearish direction.
This expectation depends on the stability of the support level 1.0506.
Res: 1.0601 1.0640 1.0715
Pivot: 1.0526
Sup: 1.0487 1.0412 1.0373
[ATTACH]8507[/ATTACH]
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EUR/USD
During yesterday trades the pair was unable to break the resistance level 1.4482 forming a top and used it to decline to re-test the nearest support levels and what helped this declining is forming the harmonic pattern completely. It is expected that, the pair will continue declining during the upcoming trades to test the support level 1.4350 at which the price is expected to coincide with the bullish trendline which matches the point A with C. If a bottom has been formed in the coinciding area, the pair will rise targeting to re-test the resistance level 1.4482 again, but in the case of breaking the support level 1.4350 the pair will decline targeting to reach the level 1.4245.
Res: 1.4472 1.4509 1.4535
Pivot: 1.4446
sup: 1.4409 1.4383 1.4346
[ATTACH]8518[/ATTACH]
GBP/ USD
After the pair faced the resistance level 1.6425 twice, it reflected downwards forming a double top reversal pattern in which the bottom border coincides with 23.6% of Fibonacci's correction levels for the last bullish wave for the near-term and the targets of this pattern also coincide with these Fibonacci's correction levels, after the pair broke the support level 1.6310 which represents the base line for the pattern, it is expected to target testing the support level 1.6240 as the first targets for the formed pattern which coincides with 38.2% of Fibonacci's correction level that was mentioned before and in the case of succeeding the pair to break this level it will target immediately to reach the level 1.6180 which represents 50.0% of the same Fibonacci's levels.
The stability of these expectations requires the stability of the resistance level 1.6310.
Res: 1.6407 1.6471 1.6518
Pivot: 1.6360
Sup: 1.6296 1.6249 1.6185
[ATTACH]8519[/ATTACH]
USD/CHF
As was expected through yesterday report, the pair continued declining till reached the level 0.9015 which represents the target of breaking out the bullish channel and at the same time represents 76.4% of Fibonacci's correction level for the bullish move (from 0.8915 to 0.9339). With the confirmation of breaking the level 0.9015 with stability below it is expected that, the pair will continue declining till reaches the next support level at 0.8915.
The stability of these expectations requires the stability of the resistance level 0.9127.
Res: 0.9097 0.9129 0.9154
Pivot: 0.9072
sup: 0.9040 0.9015 0.8983
[ATTACH]8520[/ATTACH]
USD/CAD
After trading the pair during the previous medium and the long-terms inside the bearish channel, at the beginning of the intraday trades the pair broke the top border of the channel which gives some expectations that the pair during the upcoming intraday trades is dominated by the bullish direction and will try reaching the resistance level 0.9657 which tried to reach it yesterday but the pair must break the resistance level 0.9614 but also the pair may retest the support level 0.9571 which represents the top border for the channel.
This expectation depends on the stability of the pair above the support level 0.9571
Res: 0.9579 0.9595 0.9614
Pivot: 0.956
Sup: 0.9544 0.9525 0.9509
[ATTACH]8521[/ATTACH]
AUD/USD
The pair formed a new bullish top at the level 1.0579 using the top border for the bullish channel which the pair is still moving inside this channel for the medium and the short-terms, the pair was pushed down from this top till it reached the bottom border, if the last bearish wave represents the begin of the corrective bearish direction then the lower border for the bullish channel must be broken also with breaking the trend line 23.6% Fibonacci retracement correction level for the bullish direction ( from 0.9705 to 1.0579 ) then the pair will continue declining till the support level 1.0290 which is expected to coincide at it the price with the line 38.2% Fibonacci retracement correction level for the same mentioned bullish direction.
Res: 1.0554 1.0615 1.0651
Pivot: 1.0518
Sup: 1.0457 1.0421 1.0360
[ATTACH]8522[/ATTACH]
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EUR/USD
The pair is still keeping the bullish direction as the main direction for the medium-term which was formed through moving inside a bullish channel, the pair used touching the bottom border of this channel to form a new bullish bottom which represents the point C for the harmonic pattern AB=CD, during the last intraday trades it is noticed that, the pair is trying to confirm breaking the resistance level 1.4482 which represents the point B, and if the pair succeeded to confirm this breaking, it will continue rising to form the remaining part of the rib CD which targets to reach the level 1.4615 which represents one of the resistance levels of the top border of the bullish channel and at the same time represents the point D that completes the harmonic pattern.
The stability of these expectations requires the stability of the support level 1.4375.
Res: 1.4538 1.4599 1.4680
Pivot: 1.4457
Sup: 1.4396 1.4315 1.4254
[ATTACH]8533[/ATTACH]
GBP/ USD
After the pair faced the resistance level 1.6425 twice, it reflected downwards forming a double top reversal pattern in which the bottom border coincides with 23.6% of Fibonacci's correction levels for the last bullish wave for the near-term and the targets of this pattern also coincides with these Fibonacci's correction levels, after the pair broke the support level 1.6310 which represents the base line for the pattern, it is expected to target testing the support level 1.6240 as the first targets for the formed pattern which coincides with 38.2% of Fibonacci's correction level that was mentioned before and in the case of succeeding the pair to break this level it will target immediately the level 1.6180 which represents 50.0% of the same Fibonacci's levels.
The stability of these expectations requires the stability of the resistance level 1.6310.
Yesterday analysis is still remaining
Res: 1.6326 1.6398 1.6448
Pivot: 1.6276
Sup: 1.6204 1.6154 1.6082
[ATTACH]8534[/ATTACH]
USD/CHF
As it was expected through yesterday report, the pair succeeded to break the support level 0.9015 down to continue declining achieving the lowest price for yesterday trades by reaching the level 0.8941, with breaking this level it is expected that, the pair will continue declining during the upcoming trades targeting the support level 0.8915 which with its breaking down the pair is expected to continue declining till reaches the level 0.8801 which represents 127.0% of Fibonacci's continuous level for the bullish move (from 0.8915 to 0.9339).
The stability of these expectations requires the stability of the resistance level 0.9015.
Res: 0.9049 0.9129 0.9183
Pivot: 0.8995
Sup: 0.8915 0.8861 0.8781
[ATTACH]8535[/ATTACH]
USD/CAD
The pair continued declining during the last trades for the long and medium-terms, the pair formed a pattern which is the rounding bottom whereas it's noticed that the pair took a rounding curve, it took this shape during the long-term trades therefore it's expected that the pair will take the bullish direction during the intraday trades but the pair must break the resistance level 0.9623 which represents the midline for the pattern, and also it must do a good close above it because this will push the pair to target the resistance level 0.9671 and with the stability above this level, then the pair may reach the resistance level 0.9721.
This expectation depends on breaking the pair the resistance level 0.9624 and the stability above it.
Res: 0.9673 0.9714 0.9774
Pivot: 0.9613
Sup: 0.9572 0.9512 0.9471
[ATTACH]8536[/ATTACH]
AUD/USD
The pair formed a new bullish bottom for the medium and the short-terms using coinciding the bottom border for the bullish channel with 23.6% Fibonacci fan correction level for the bullish direction (from 0.9705 to 1.0579), expecting with the stability of the support level 1.0425 that the pair will continue rising using this bottom to retest the resistance level 1.0580 which with breaking it up the pair will continue registering a new records.
This expectation depends on the stability of the support level 1.0425
Res: 1.0507 1.0579 1.0639
Pivot: 1.0447
Sup: 1.0375 1.0315 1.0243
[ATTACH]8537[/ATTACH]
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EUR/USD
Yesterday trades were in a bearish narrow range although this bearish narrow move, the pair is still moving inside a bullish channel for the medium-term, the continuity of existing the positive divergence that continues the bullish direction is noticed through this chart, these positive signs confirms the tendency of the pair to continue rise so that a new bullish bottom has been formed when the pair faced the bottom border of the bullish channel, it is expected that the pair will continue rise during the upcoming trades targeting to form the remaining part of the harmonic pattern AB=CD which targets to reach the level 1.4615 which represents the point D that completes the harmonic pattern.
The stability of these expectations requires the stability of the support level 1.4375.
Res: 1.4503 1.4564 1.4609
Pivot: 1.4458
Sup: 1.4397 1.4352 1.4291
[ATTACH]8543[/ATTACH]
GBP/ USD
The support level 1.6240 which represents 38.2% of Fibonacci's correction level for the last bullish wave for the medium-term held and supported the pair to return rising again breaking the level 1.6310 which represents 23.6% of the same Fibonacci's correction level expecting more rising during today's intraday trades targeting the resistance level 1.6425 at which the pair formed a top previously, this level is important as it will determine the upcoming direction for the pair during the medium-term trades.
The stability of these expectations requires the stability of the support level 1.6310.
Res: 1.6305 1.6342 1.6377
Pivot: 1.6270
Sup: 1.6233 1.6198 1.6161
[ATTACH]8544[/ATTACH]
USD/CHF
The pair is still declining for short, medium and long-terms, it was expected through the last report that the pair will try to break the support level 0.8915 and this is what the pair tried to do during the last intraday trades, with breaking this level it is expected that the pair will continue declining till reach the level 0.8801 which represents 127.0% of Fibonacci's continuous level for the bullish move (from 0.8915 to 0.9339).
The stability of these expectations requires the stability of the resistance level 0.9015.
Res: 0.8993 0.9023 0.9056
Pivot: 0.8960
Sup: 0.8930 0.8897 0.8867
[ATTACH]8545[/ATTACH]
USD/CAD
During the previous trades for the medium-term the pair didn't determine a certain direction whereas it was confined between the resistance level 0.9641 and the support level 0.9565 therefore it's expected that the pair will take the bullish direction and if the pair is able to break the resistance level 0.9609 which represents 50.0% Fibonacci retracement for the last bearish wave and the stability above it therefore the pair will retest the resistance level 0.9641 then the resistance level 0.9653 which represents 76.4% from the same previous mentioned Fibonacci retracement levels but the pair must break the resistance level 0.9628 which represents 61.8% from the same previous mentioned Fibonacci retracement levels.
This expectation depends on breaking the pair the resistance level 0.9609 which represents 50.0% Fibonacci retracement levels.
Res: 0.9653 0.9686 0.9721
Pivot: 0.9618
Sup: 0.9585 0.9550 0.9517
[ATTACH]8546[/ATTACH]
AUD/USD
Seems that the pair is able to retest the resistance level 1.0580 again, whereas it is still moving inside the bullish channel for the medium and the short-terms, expecting with continuing the stability of the lower border for the channel and the stability of the support level 1.0460 the pair will continue rising during the next trades reaching the level 1.0580 which with breaking it up the pair will register a new records.
This expectation depends on the stability of the support level 1.0460.
Res: 1.0551 1.0599 1.0661
Pivot: 1.0489
Sup: 1.0441 1.0379 1.0331
[ATTACH]8547[/ATTACH]
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EUR/USD
The bullish direction is still dominating the price action of the pair for the short and the medium-term and it is noticed that it is moving inside a bullish channel, yesterday the pair tested the bottom border of the channel at the support level 1.4410 from which it reflected upside expecting more rising during today's intraday trades targeting the resistance level 1.4625 but under the condition of breaking the strong resistance level 1.4510.
The stability of the expectations requires the stability of the support level 1.4410.
Res: 1.4503 1.4564 1.4609
Pivot: 1.4458
Sup: 1.4397 1.4352 1.4291
GBP/ USD
The support level 1.6240 which represents 38.2% of Fibonacci's correction level for the last bullish wave for the medium-term held and supported the pair to return rising again breaking the level 1.6310 which represents 23.6% of the same Fibonacci's correction level expecting more rising during today's intraday trades targeting the resistance level 1.6425 at which the pair formed a top previously, this level is important as it will determine the upcoming direction for the pair during the medium-term trades.
The stability of these expectations requires the stability of the support level 1.6310.
Yesterday analysis is still remaining
Res: 1.6403 1.6456 1.6531
Pivot: 1.6328
Sup: 1.6275 1.6200 1.6147
USD/CHF
The pair is still declining for short, medium and long-terms, it was expected through the last report that the pair will try to break the support level 0.8915 and this is what the pair tried to do during the last intraday trades, with breaking this level it is expected that the pair will continue declining till reaches the level 0.8801 which represents 127.0% of Fibonacci's continuous level for the bullish move (from 0.8915 to 0.9339).
The stability of these expectations requires the stability of the resistance level 0.9015.
Yesterday analysis is still remaining
Res: 0.8993 0.9023 0.9056
Pivot: 0.8960
Sup: 0.8930 0.8897 0.8867
USD/CAD
As noticed in the chart, during the previous trades for the medium-term the pair formed a bullish channel therefore it's expected that the pair will continue the bullish scenario inside this channel till reaching the resistance level 0.9678 which represents the top border for the previous mentioned channel.
But if the pair is able to break the support level 0.9607 which represents the lower border for the channel with stability below it, the pair will change it's bearish direction till reaching the support level 0.9549.
Res: 0.9652 0.9697 0.9727
Pivot: 0.9622
Sup: 0.9577 0.9547 0.9502
AUD/USD
As noticed in the chart, the bullish direction is still dominating the pair direction for the medium and the short-terms whereas the harmonic pattern which is the ( AB=CD ) butterfly pattern is formed on the price action which is now moving in the last wave for the CD rib which targets the resistance level 1.0686 to end the pattern by forming this wave therefore it's expected that the bullish scenario will be continued ( with the probability of retesting the support level 1.0464) but confirming this pattern the pair must break the resistance level 1.0569 which represents the B point with stability above it.
Succeeding this scenario; the pair must break the resistance level 1.569 and the stability above it which represents the B point.
Res: 1.0574 1.0607 1.0666
Pivot: 1.0515
Sup: 1.0482 1.0423 1.0390
[ATTACH]8553[/ATTACH]
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EUR/USD
It is noticed through this chart that the pair formed a confusion area between the resistance level 1.4519 and the support level 1.4401, at the beginning of this week's trades the pair registered a bearish gab that pushed the pair downside breaking the bottom border of the confusion area as the bottom border represents 23.6% of Fibonacci's correction level for the bullish move (from 1.4020 to 1.4519) so it is expected that the pair will continue declining targeting the level 1.4269 which represents the target of breaking out this confusion area and at the same time represents 50.0% of the same Fibonacci's correction level. In order to reach this level, the pair should break the support level 1.4228.
The stability of these expectations requires the stability of the resistance level 1.4401.
Res: 1.4491 1.4554 1.4604
Pivot: 1.4441
Sup: 1.4378 1.4328 1.4265
GBP/ USD
At the end of the last week trades and at the beginning of this week trades, the pair declined after tried to test the resistance level 1.6425 that the pair was unable to test expecting to form (gartley) harmonic pattern and the pair now is moving in the last wave of this pattern targeting the support level 1.6180 which represents the point D for the pattern and also coincides with 50.0% of Fibonacci's correction level for the bullish wave XA, this coinciding supports the strength of the pattern but it is needed to strong confirmation by breaking the support level 1.6240 which represents the point B for the pattern and also represents 38.2% of the same Fibonacci's correction level.
The stability of these expectations requires the stability of the resistance level 1.6310.
Res: 1.6351 1.6402 1.6432
Pivot: 1.6321
Sup: 1.6270 1.6240 1.6189
USD/CHF
The pair is still moving inside a bearish channel for the short and the medium-term, the existence of a positive divergence is noticed and this reflects the bearish direction, so it is clear that the pair is rising trying to break the top border of the bearish channel and if the pair succeeded to do so, it will continue rising till reach the level 0.9065 which represents the target of breaking out the bearish channel and at the same time represents 38.2% of Fibonacci's correction level for the bearish move (from 0.9339 to 0.8896).
The stability of these expectations requires the stability of the support level 0.8896.
Res: 0.8952 0.8976 0.8994
Pivot: 0.8934
sup: 0.8910 0.8892 0.8868
USD/CAD
As noticed in the chart that the pair has broken the bearish channel which was mentioned in the end of the last week therefore it's expected that during the intraday trades the pair will try to retest the resistance kevel 0.9637 which represents the bottom border for the bearish channel then trying to test the support level 0.9586 and the stability below it therefore the pair will continue declining till reaching the support level 0.9553.
This expectation depends on the stability of the resistance level 0.9634.
Res: 0.9635 0.9670 0.9692
Pivot: 0.9613
Sup: 0.9578 0.9556 0.9521
AUD/USD
As expected in the previous reports that the pair continue rising till it retested the resistance level 1.0580, this bullish move continued inside the mentioned bullish channel, the pair was unable to break the mentioned resistance level to form a new top which is the second consecutive top at the same level to be provided by that one of the conditions of the reflective pattern for the bullish direction ( double tops ) and the base of the pattern is at the support level 1.0425, if the pair is able to break the lower border for the bullish channel that will give the new confirmation on remaining a complete pattern, whereas the pair will continue declining to reach the targeted price at the support level 1.0270.
This expectation depends on the stability of the resistance level 1.0580.
Res: 1.0590 1.0617 1.0657
Pivot: 1.0550
Sup: 1.0523 1.0483 1.0456
[ATTACH]8576[/ATTACH]
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EUR/USD
As it was expected through yesterday report, the pair continued its corrective declining as it continued declining till reached the level 1.4269 which represents the target of exiting the confusion area and at the same time represents 50.0% of Fibonacci's correction level for the bullish move (from 1.4020 to 1.4519), the pair was able to break this level as it is trading now above the support level 1.4211 which represents 61.8% of the same Fibonacci's level for the same bullish move, it is expected that the pair will continue declining till reach the level 1.4138 followed by the level 1.4020.
The stability of these expectations requires the stability of the resistance level1.4350.
Res: 1.4385 1.4535 1.4649
Pivot: 1.4271
Sup: 1.4121 1.4007 1.3857
GBP/ USD
At the end of the last week trades and at the beginning of this week trades, the pair declined after tried to test the resistance level 1.6425 that the pair was unable to test expecting to form (gartley) harmonic pattern and the pair now is moving in the last wave of this pattern targeting the support level 1.6180 which represents the point D for the pattern and also coincides with 50.0% of Fibonacci's correction level for the bullish wave XA, this coinciding supports the strength of the pattern but it is needed to strong confirmation by breaking the support level 1.6240 which represents the point B for the pattern and also represents 38.2% of the same Fibonacci's correction level.
The stability of these expectations requires the stability of the resistance
level 1.6310.
Yesterday analysis is still remaining
Res: 1.6339 1.6413 1.6500
Pivot: 1.6252
Sup: 1.6178 1.6091 1.6017
USD/CHF
Yesterday trades for the USD/CHF pair saw exiting the trades out of the bearish channel for the near and the medium-term as it was expected through yesterday report so that, it is expected that the pair will continue its corrective rising targeting to reach the level 0.9065 which represents the target of exiting out of the bearish channel and at the same time represents 38.2% of Fibonacci's correction level for the bearish move (from 0.9339 to 0.8896).
The stability of these expectations requires the stability of the support level 0.8896.
Res: 0.9006 0.9049 0.9100
Pivot: 0.8955
Sup: 0.8912 0.8861 0.8818
USD/CAD
As noticed in the chart that during the previous medium-term trades the pair rose inside the bullish channel although trying it to break the channel yesterday but it's expected that the pair will continue rising during the intraday trades till testing the resistance level 0.9708 which represents the top border for the channel.
But if the pair breaks the resistance level 0.9629 which represents the bottom border for the channel and the stability below this level therefore the pair will target the support level 0.9590 then the resistance level 0.9544.
Res: 0.9712 0.9783 0.9846
Pivot: 0.9649
Sup: 0.9578 0.9515 0.9444
AUD/USD
During yesterday trades the pair was able to break the bottom border for the bullish channel continuing declining giving the first confirmation on remaining a reflective bullish ( double consecutive tops ) divergence pattern, the pair is targeting to reach the support level 1.0425 which represents the base of the pattern which forming breaking it down, the last confirmation on remaining the pattern, if the pair is able to break the base of the pattern therefore it will continue declining reaching the targeted area which is confined between the level 1.0285 and the level 1.0245 which represents 38.2% Fibonacci retracement correction level for the bullish direction ( from 0.9705 to 1.0580 ).
This expectation depends on the stability of the resistance level 1.0510.
Res: 1.0567 1.0628 1.0685
Pivot: 1.0510
Sup: 1.0449 1.0392 1.0331
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EUR/USD
Yesterday trades saw a lot of bullish positions on the European currency against the dollar; these bullish positions were supported by the positive European economic data. through this chart it is noticed that the trades are holding above the bullish trendline for the long-term and also were above the support level 1.4211 which represents 61.8% of Fibonacci's correction level for the bullish move (from 1.4020 to 1.4519) so that the pair formed a bottom and used it to rise to re-test the nearest resistance level, one of them is the level 1.4401 which was representing a support level for a confusion area, if these bullish positions continued the pair may be able to break the resistance level 1.4401 up then it will continue rising targeting the next resistance level 1.4519.
The stability of these expectations requires the stability of the support level 1.4350.
Res: 1.4389 1.4444 1.4536
Pivot: 1.4297
Sup: 1.4242 1.4150 1.4095
GBP/ USD
On the contrary of what was expected in yesterday report, the support level 1.6250 held against the pair testing for the second straight time and this resulted in rising the pair forming a sideways movement for the near-term between the resistance level 1.6425 and the support level 1.6250 expecting more rising during today's intraday trades targeting the resistance level 1.6425 which coincides with the medium border of the bullish pitchfork channel.
The stability of these expectations requires the stability of the support level 1.6250.
Res: 1.6355 1.6397 1.6460
Pivot: 1.6292
Sup: 1.6250 1.6187 1.6145
USD/CHF
The pair was unable to break the resistance level 0.9001 and formed a new top at the same level, with forming this top the existence of a negative divergence that shifts the bullish direction for the near-term is noticed. so it is expected that the pair will return to decline for the medium-term targeting to test the support level 0.8896 which with its breaking down the pair will continue declining till reaches the level 0.8827 which represents 161.8% of Fibonacci's continuous level for the bullish move (from 0.8896 to 0.9007).
The stability of these expectations requires the stability of the resistance level 0.9001.
Res: 0.9022 0.9045 0.9084
Pivot: 0.8983
Sup: 0.8960 0.8921 0.8898
USD/CAD
As noticed in the chart that yesterday the pair broke the support level 0.9634 which represents the lower border for the bullish channel till the pair became between the resistance level 0.9571 which represents 76.4% Fibonacci retracement correction level and the support level 0.9523 which represents the mentioned starting point for the bullish channel.
As noticed, the pair is trying to break the support level 0.9571 and the stability below this level will make the pair continue declining till the support level 0.9470 which represents 127.0% Fibonacci retracement correction level.
But in case of retesting the pair to the resistance level 0.9571 and the stability of the pair above it,then the pair will target the resistance level 0.9571 which represents 61.8%from the same mentioned Fibonacci retracement correction levels.
Res: 0.9633 0.9708 0.9751
Pivot: 0.9590
Sup: 0.9515 0.9472 0.9397
AUD/USD
A new bottom has been formed during yesterday trades near to the support level 1.0425, this bottom pushed the pair to rise again trying to break the resistance level 1.0580, therefore the probability of remaining the reflective divergence which was mentioned through the previous reports ends, if the resistance level 1.0580 is broken; the pair will continue rising till reaches the level 1.0627 then the level 1.0692 which represents 127% and 161.8% Fibonacci retracement continuous level for the bearish direction ( from 1.0580 to 1.0385 ).
This expectation depends on the stability of the resistance level 1.0510.
Res: 1.0554 1.0586 1.0642
Pivot: 1.0498
Sup: 1.0466 1.0410 1.0378
[ATTACH]8604[/ATTACH]
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