GIGFX Technical Analysis For Majors (Updated Daily)

[GIGFX]

EURUSD


Euro declines for the second consecutive day against the U.S dollar; this declining was due to the support of the Irish bad news. On the contrast, the U.S dollar rose after releasing the statements by U.S. President Barack Obama, who reported the approval of the U.S. administration to extend tax cuts for two years. It is noticed through the chart that, the pair broke the bullish trend line that was formed for the short period, also the support level 1.3245 has been broken, so, the pair declined during the last intraday trades. Now, the pair is in its way to test the level 1.3198 which represents 50% correction level for the bullish direction (from 1.2965 to 1.3427). breaking this level is important to continue declining till reaching the level 1.3077 which represents the target for breaking the bullish trend line for the short period, the stability of the level 1.3198 could give the probability of forming a positive harmonic pattern which means rising again for the pair in order to re-test the resistance levels 1.3245 and 1.3319.

Res. 1.3354 1.3448 1.3496
Pivot 1.3306
Sup. 1.3212 1.3164 1.3070
0 euro.jpg

GBPUSD


Yesterday, the pair did not succeed to break the resistance level 1.5800, where tried to test it yesterday and succeeded to close above it where recorded the highest price at 1.5821 and failed to be stable then reflected back downwards till now breaking the bullish trend line for the short period and the intraday trades and the support level 1.5740 which represents 23.6% correction level for the last bullish wave for the short period, it is expected that the pair will continue falling during the intraday trades of today targeting the support level 1.5565 which represents 76.4% correction level.

The stability of this expectation depends on the stability of the resistance level 1.5740.

RES. 1.5817 1.5878 1.5934
Pivot 1.5760
Sup. 1.5699 1.5642 1.5581
0 gbp.jpg

USDCHF

Yesterday, the pair rose breaking the resistance level 0.9855 forming a harmonic pattern Gartley in the early forming stage and the end of the pattern is supposed to be with the end of the CD wave which is supposed to be between the resistance level 0.9950 and the level 0.9977, so, it is expected that, the pair will rise for the intraday levels targeting this area and that a down corrective reflection will occur just hitting this area but under the condition of the appearance of a negative signals for the pair, this vision will be confirmed by breaking the resistance level 0.9905 that the pair is testing now.
The stability of these expectations depends on the stability of the support level 0.9850.


RES. 0.9920 0.9960 1.0048
Pivot 0.9838
Sup. 0.9792 0.9710 0.9664
0 chf.jpg

USDCAD


Although the pair has broke the bottom line for the bearish flag pattern, the pair didn't achieve a good close under the support level 1.0025 which was previously mentioned the importance of this level to continue falling, therefore it's found for the pair to rise again using the formed bottom at this level to break up the resistance level 1.0080, the pair is on it's way to target the resistance level 1.0145 which represents 50% correction level for the bearish direction ( from 1.0286 to 1.0004 ) breaking this level is important for the pair to continue the expected rising till the level 1.0219
The failing to break the level 1.0145 means falling again to retest the level 1.0080 which represents an important level for the pair; for the short period.

Res. 1.0162 1.0201 1.0276
Pivot 1.0087
Sup. 1.0048 0.9973 0.9934
0 cad.jpg

AUDUSD

The U.S dollar returned again to rise facing the AUD dollar, where the pair didn't trade a lot yesterday above the resistance level 0.9936 but the pair was pushed down till the support level 0.9860 which was not able to hold for long against this falling, and the pair was able to break this level down to continue falling. the pair is trading at the support level 0.9784 which represents 38.2% correction level for the bearish direction ( from 1.0182 to 0.9690 ) and the previously broken up, breaking this level down again means targeting the pair to the next support level at 0.9690.
This expectation depends on the stability of the resistance level 0.9860.


Res. 0.9919 1.0012 1.0060
Pivot 0.9871
Sup. 0.9778 0.9730 0.9637

0 aud.jpg

[GIGFX]

EURUSD

Euro continued declining against the U.S dollar at the end of the last week trades, whereas, the pair is still unable to break the short-term bearish trend line meanwhile, still unable to break 1.3175 support to confine the last trades in the area between the bearish trend line and 1.3175 support level. Breaking one of these levels is important to determine the upcoming trading direction for the pair, in the case of breaking the bearish trend line, the pair will continue rising till reaching the level 1.2427 but in the case of breaking 1.3175 support with good close below it, then the pair will continue declining targeting 1.3077 support level then to level 1.2969.


Res. 1.3284 1.3333 1.3388
Pivot 1.3232
Sup. 1.3181 1.3127 1.3076
Attachment 678


GBPUSD

The pair remains on the short-term and intraday levels in a bullish movement till now, to face previously 1.5862 level facing the bearish trend line for the medium and the long periods, generally the pair is now at a confusing area, where the bullish trend line for the short periods supports the short bullish move, also the resistances that are represented by the bearish trend line for the medium and long periods with the resistance area between 1.5835 and 1.5860 prevents the pair rising. So in case the pair was able to pass the mentioned resistances it will continue rising to reach the 1.5900 area, but in case the pair broke down the support trend line it may fall to retest the nearest support levels such as, 1.5750 and 1.5705.

RES. 1.5867 1.5923 1.5979
Pivot 1.5807
Sup. 1.5753 1.5693 1.5639
Attachment 679


USDCHF

It is clear that, the pair is still continuing the declining movement that has been formed through moving inside a bearish channel at the end of the last week trades.
During the intraday trades of today it is expected that the pair will continue declining inside the bearish channel, the pair is below 0.9843 resistance level which represents the top boarder of the channel. So, it is expected that, the pair may reach 0.9769 support level which represents the bottom boarder of the channel, but under the condition of breaking 0.9809 support level with stability below, this level represents 50% Fibonacci correction level for the last bullish wave.
The stability of these expectations depends on the stability of the pair below 0.9843 resistance level.


RES. 0.9829 0.9858 0.9875
Pivot 0.9812
Sup. 0.9783 0.9766 0.9737
Attachment 677

USDCAD


In this chart; it's noticed that the pair has formed a symmetrical triangle pattern, which reflects the volatility and confusion situation that dominated the trades of the pair during the last trades for the short period, the last intraday trades was confined in the triangle head area which gives a confirmation for a near break to one of the triangle's boarders, then the trades will be continued in the same breaking direction. If the pair breaks the top boarder; it will continue rising targeting the level 1.0178 which represents the targeted price for the pattern in this bearish move and which also represents 61.8% Fibonacci retracement correction level for the bearish direction (from 1.0286 to 1.0004) but in case of breaking the bottom boarder; the pair will continue falling targeting the level 1.0004 which represents the target price for the pattern in this bearish move.

Res. 1.0113 1.0130 1.0145
Pivot 1.0100
Sup. 1.0081 1.0066 1.0044
Attachment 676


AUDUSD

The pair formed a bottom at the support level 0.9750 which represents 50% Fibonacci retracement for the rib (AB) for the harmonic pattern AB=CD which is still in the forming process and will be confirmed with breaking the confined area which is between the level 0.9936 which represents 61.8% Fibonacci retracement level for the bearish direction (from 10182 to 0.9538) and the level 0.9965 which represents the ( B ) point. it's expected in the next trades that the bullish action will be continued till the mentioned area, after breaking the level of the ( B ) point; the pair will continue rising till the level 1.0182 which represents the complement ( D ) point for the harmonic pattern. To reach this level; the resistance level 1.0030 must be broken.
This expectation depends on the stability of the support level 0.9750.
The previous analyze remains till this moment


Res. 0.9888 0.9929 0.9959
Pivot 0.9858
Sup. 0.9821 0.9789 0.9725
Attachment 675

[GIGFX]

EURUSD

Yesterday trades reflect optimism that controls investors towards high yield currencies and the most risky so, the European currency rose against the U.S dollar, it is mentioned through yesterday report that, if the pair could not hold the stability of 1.3175 support and broke the short-term bearish trend line, the pair will continue rising till reach 1.3427, and this is what happened already, whereas, the pair registered the highest price during yesterday trades by reaching 1.3433. Now, the pair is trading under 1.3427 resistance which represents the (B) point for Gartley negative harmonic pattern that is mentioned through the previous reports. Breaking the resistance point (B) means more rising till reaching (D) point which completes the pattern and located between the level 1.3592 which represents 76.4% Fibonacci correction level for the rib (XA), and the level 1.3655 which represents 200% Fibonacci continuous level for the rib (BC).

The stability of these expectations requires the stability of 1.3280 support.


Res. 1.3488 1.3586 1.3739
Pivot 1.3335
Sup. 1.3237 1.3084 1.2986
1 euro.jpg


GBPUSD

The pair is still holding the short-term and intraday levels bullish movement till now. And it is noticed that, the pair is moving inside a bullish channel and tested its bottom boarder yesterday and reflected up again testing 1.5890 resistance which has been mentioned previously with the expectation that, the pair will continue rising during the intraday levels of today targeting 1.5890 resistance which represents 61.8% Fibonacci correction level and also coincides with the top boarder of this bullish channel.

The stability of these expectations requires the stability of 1.5790 support.


RES. 1.5931 1.6002 1.6108
Pivot 1.5825
Sup. 1.5757 1.5646 1.5577
1 gbp.jpg


USDCHF

The pair is still moving bearishly till now, though, it could break 0.9725 to confirm forming the harmonic pattern AB=CD which still in forming stage of its last wave CD which its target supposed to be at 0.9575 support, so, it is expected that, the pair will continue declining during the intraday trades of today targeting this level, this expectation will be more confirmed by breaking 0.9675 support which represents 76.4% Fibonacci correction level for the medium-period last bullish wave.

The stability of these expectations requires the stability of 0.9725 resistance.


RES. 0.9802 0.9927 1.0004
Pivot 0.9725
Sup. 0.9600 0.9523 0.9398
1 chf.jpg

USDCAD

As expected in yesterday report that the pair has broke the bottom board for the triangle pattern continuing falling till it achieved the lowest price for yesterday trades at the level 1.0027, the pair formed a bottom at this level rose from it again to retest the broken bottom board which is near the intraday trades, expecting forming a bearish top at this board then falling till the level 1.0004 which represents the target price for the pattern which with breaking it down; means falling till the support level 0.9977.

This expectation depends on the stability of the resistance level 1.0090.


Res. 1.0113 1.0150 1.0195
Pivot 1.0070
Sup. 1.0031 0.9988 0.9949
1 cad.jpg


AUDUSD

The pair formed a bottom at the support level 0.9750 which represents 50% Fibonacci retracement for the rib (AB) for the harmonic pattern AB=CD which is still in the forming process and will be confirmed with breaking the confined area which is between the level 0.9936 which represents 61.8% Fibonacci retracement level for the bearish direction ( from 10182 to 0.9538 ) and the level 0.9965 which represents the ( B ) point. it's expected in the next trades that the bullish action will be continued till the mentioned area, after breaking the level of the ( B ) point; the pair will continue rising till the level 1.0182 which represents the complement ( D ) point for the harmonic pattern. To reach this level; the resistance level 1.0030 must be broken.
This expectation depends on the stability of the support level 0.9750.
The previous analyze remains till this moment


Res. 1.0019 1.0077 1.0170
Pivot 0.9926
Sup. 0.9868 0.9775 0.9717
1 aud.jpg

[GIGFX]

EURUSD

Seems that optimism that controls investors towards the high yield and more risky currencies did not remain along whereas, the American good data released yesterday and the statements of the Federal Reserve assured the continuation of the American economic recovery toward rising dollar again against euro.
It is noticed through this chart that, the pair didn't trade for a long time above the resistance level 1.3427 for the bullish wave that began from the point (C) for the negative harmonic pattern Gartley, and as it was mentioned yesterday, the level 1.3427 represents the point (B). The pair didn't succeed to achieve a good close above this level forming some reflective candles giving a sign of the probability of non-completing the harmonic pattern which its failure will be confirmed by breaking the support level 1.3281which is expected to coincide with the bullish trend line that matches the point (A) with (B), but if the pair formed a bottom at this area, it will rise again to re-test the resistance level 1.3427 which with its breaking the pair will continue forming the rib (CD). But in the case of failing the pair to form this bottom, the pair will decline till reaching the level 1.3175 which with its breaking, the pair will continue forming a bearish direction toward the support level 1.2969


Res. 1.3464 1.3545 1.3597
Pivot 1.3412
Sup. 1.3327 1.3277 1.3192
15 euro.jpg

GBPUSD

Resistance level 1.5890 was able to hold against the pair rising yesterday, the pair failed to break it and reflected down as it was not expected that it will continue rising, the pair even also broke the short-term and intraday levels bullish trend line and also is breaking down the simple moving average for (50) past candlesticks. If trades continued below 1.5770, more drop below is expected for the pair during the intraday trades of today targeting 1.5655support level as the first target for this declining then will target 1.5535 support level.

The stability of these expectations requires the stability of 1.5770 resistance level.


RES. 1.5876 1.5979 1.6048
Pivot 1.5808
Sup. 1.5707 1.5636 1.5532

15 gbp.jpg

USDCHF

As expected yesterday, the pair succeeded to reach the target of the wave (CD) at 0.9575 support that was mentioned through yesterday report and still stable till now, the pair reflected up with expectations of more rising during the upcoming trades targeting to re-test 0.9675 resistance level and also the top boarder of this bearish channel in which the pair is moving through the medium-term trades, this movement may continue in order to test 0.9725 resistance.

The stability of these expectations requires the stability of 0.9575 support level.


RES. 0.9670 0.9744 0.9798
Pivot 0.9616
Sup. 0.9542 0.9488 0.9414
15 chf.jpg

USDCAD

The pair has ended the Triangle pattern’s target by reaching level 1.0027 which formed at it a second consecutive bottom supported by the bullish trend line for the short period. Trades now are at the resistance level 1.0090, breaking this level will help the pair to rise till the resistance level 1.0145 which represents 50% Fibonacci retracement correction level for the bearish direction (from 1.0286 to 1.0004) but breaking the support level 1.0145 means reaching the next resistance level at the level 1.0178; this bullish scenario is the likely to happen during the next upcoming trades.

This expectation depends on the stability of the support level 1.0027.


Res. 1.0103 1.0147 1.0185
Pivot 1.0066
Sup. 1.0023 0.9988 0.9942
15 cad.jpg


AUDUSD

It was mentioned in the previous reports that if the pair achieves a good breaking for the resistance level 0.9965 which represents the ( B ) point for the harmonic pattern AB=CD the pair will continue rising till the level1.0182 which represents the complement ( D ) point for the harmonic pattern, reaching this level; the resistance level 1.0030 must be broken and this is what has happened during yesterday trades where the pair has succeeded on breaking the resistance level for the ( B ) point to continue rising till it reached the resistance level 1.0030 which has failed of breaking it up to form a top that pushed the pair down to retest the nearest support levels, one of which is the level 0.9965 which has failed to stop the pair declining and the pair continued falling to retest the bullish trend line which matches the point ( A )and the ( C ) point. Breaking this line downwards means the failure of completing the harmonic pattern, then falling to the support level 0.9750.


Res. 1.0029 1.0066 1.0111
Pivot 0.9985
Sup. 0.9845 0.9902 0.9862
15 aud.jpg

[GIGFX]

EURUSD

As it was expected through yesterday report, the probability of forming a positive harmonic pattern (AB=CD) has been achieved, this pattern was completed at the level 1.3198 which represents 50% Fibonacci retracement level for the bullish direction (from 1.2969 to 1.3427), the pair formed a bottom at this level and used it to push rising till now. it is expected that, the pair will continue rising till reach the bearish trend line which matches the (A) point with the (B) point, at which the price is expected to coincide with the resistance level 1.3377 which represents 50% Fibonacci retracement level for the bearish direction (from 1.3785 to 1.2969). If the pair was able to break this area, it will continue rising till reach the resistance level 1.3427 which represents the (B) point for a Gartley negative harmonic pattern that is still in the forming stage and that will be confirmed with breaking this resistance. The rib (BC) represents 50% Fibonacci retracement level for the rib (AB). so, it is expected that, this pattern will be confirmed with reaching the (D) point which is located between the level 1.3592 which represents 76.4% Fibonacci retracement level for the rib (XA), and the level 1.3655 which represents 200% Fibonacci continuous level for the rib (BC).
The stability of these expectations requires the stability of the © point which represents the support level 1.3198.

Res. 1.3301 1.3340 1.3401
Pivot 1.3240
Sup. 1.3201 1.3140 1.3101
2 euro.jpg


GBPUSD

Yesterday, the pair succeeded to reflect its direction and rose for the short period after hitting the resistance level 1.5675 which represents 23.6% Fibonacci retracement level for the last bearish medium-term wave, and reflected up to close above the resistance level 1.5790 which represents 38.2% Fibonacci retracement level and more rising is expected for the pair during the upcoming trades targeting the resistance level 1.5985 which represents 61.8% Fibonacci retracement level but first it should break the first resistance level 1.5890.

The stability of these expectations requires the stability of the support level 1.5790.

RES. 1.5869 1.5934 1.6037
Pivot 1.5768
Sup. 1.5701 1.5600 1.5533
2 gbp.jpg


USDCHF

The pair failed yesterday to gain more rising where it could not break up the resistance level 0.9895 but reflected back downwards trying to test the support level 0.9805 so, yesterday's expectations have been changed for the short term and intraday levels.
The pair is moving inside bullish channel till now for the short-term and intraday levels, so any bearish positions are not recommended until breaking the support level 0.9805 which represents 23.6% Fibonacci retracement level for the last short-term bearish wave
And also coincides with the bottom boarder of this channel in which the pair is moving.

These expectations require the stability of the resistance level 0.9895.

Yesterday analysis is still remaining till now.

RES. 0.9901 0.9941 0.9967
Pivot 0.9875
Sup. 0.9836 0.9809 0.9769
2 chf.jpg

USDCAD


During yesterday trades the pair formed a top near the 1.0145 level which represents 50% Fibonacci retracement level for the bearish direction ( from 1.0286 to 1.0004 ) that pushed it down retesting the support level 1.0080 and forming a new bottom at this level, to continue at then the trades to be volatile and confused. with breaking several different levels it will determine the next trades directions, if the pair breaks the support level 1.0080 the pair will continue falling targeting the support level 1.0025 which may coincide at it the price with the bullish trend line for the medium period but in case of breaking the resistance level 1.0145 the pair will continue rising targeting the level 1.0219 which represents 76.4% Fibonacci retracement level for the latest mentioned bearish direction.

Res. 1.0148 1.0185 1.0227
Pivot 1.0105
Sup. 1.0070 1.0027 0.9992
2 cad.jpg

AUDUSD

The pair formed a bottom at the support level 0.9750 which represents 50% Fibonacci retracement for the rib ( AB ) for the harmonic pattern AB=CD which is still in the forming process and will be confirmed with breaking the confined area which is between the level 0.9936 which represents 61.8% Fibonacci retracement level for the bearish direction ( from 10182 to 0.9538 ) and the level 0.9965 which represents the ( B ) point. it's expected in the next trades that the bullish action will be continued till the mentioned area, after breaking the level of the ( B ) point; the pair will continue rising till the level 1.0182 which represents the complement ( D ) point for the harmonic pattern. To reach this level; the resistance level 1.0030 must be broken.
This expectation depends on the stability of the support level 0.9750.


Res. 0.9849 0.9902 0.9951
Pivot 0.9800
Sup. 0.9747 0.9698 0.9645
2 aud.jpg

[GIGFX]

EURUSD

As it was expected yesterday, the pair formed a bearish top at the board of the broken down bullish trend line from which, the pair was pushed down testing the important support level 1.3175 which succeeded to stop the pair’s declining and at which a new bottom was formed and returned the pair into a bullish move again during the last intraday trades.
It is noticed during the current trades, the pair is trying to confirm breaking the resistance level 1.3281 which coincides with the broken bullish trend line. If the pair succeeded to confirm this breaking with a good close above these levels, it will continue rising targeting the resistance level 1.3377 which with its breaking, the pair will rise till reach the level 1.3473 again.


Res. 1.3279 1.3314 1.3363
Pivot 1.3230
Sup. 1.3195 1.3046 1.3111
z euro.jpg


GBPUSD

The support level 1.5535 held against the pair testing yesterday, the pair reflected up re-testing the level 1.5655 which still holds against the pair till now. During the upcoming intraday trades it is expected that the pair will decline targeting the support level 1.5535 again, and in the case of breaking it down the pair will target the support level 1.4530, and what confirms this expectation is the existence of a negative divergence for the pair on the stochastic index below the chart.

The stability of these expectations requires the stability of the resistance level 1.5655.

RES. 1.5666 1.5700 1.5764
Pivot 1.5602
Sup. 1.5568 1.5504 1.5470
z gbp.jpg


USDCHF


As it was expected yesterday, the pair succeeded to reach the resistance level 0.9725 which held and caused reflecting the pair down in order to continue its short-term bearish move, breaking the support level 0.9575 with the expectation that it will continue declining in the case of breaking this level, targeting the support level 0.9495 then 0.9415 during the upcoming intraday trades.

The stability of these expectations requires the stability of the resistance level 0.9675.


RES. 0.9705 0.9766 0.9798
Pivot 0.9673
Sup. 0.9612 0.9580 0.9519
z chf.jpg

USDCAD

As noticed in the chart, the pair formed a continuation pattern which is the symmetrical triangle; this pattern supports the dominant bearish direction for the pair during the last trades for the medium period. it's expected that after breaking the bottom boarder for the pattern, the pair will continue falling till it reach the targeted price for the pattern at the level 0.9920 which also represents 161.8% Fibonacci retracement continuous level for the bullish direction ( from 1.0004 to 1.0137 ), reaching this bearish targeted price, the support levels 1.0004, 0.9977 must be broken.

This expectation depends on the stability of the resistance level 1.0090


Res. 1.0078 1.0098 1.0122
Pivot 1.0054
Sup. 1.0034 1.0010 0.9990
z caad.jpg


AUDUSD

As expected in yesterday report the pair didn't complete forming the harmonic pattern AB=CD where the pair was able to break the bullish trend line which matches the point ( A ) and the ( C ) point, this break has coincided with the break of the support level 0.9936 to continue the pair’s declining till the support level 0.9860 which the intraday trades are around it. It is expected to break this level downwards where the pair will target the support level 0.9750 during the next trades.

Res. 0.9927 0.9953 1.0002
Pivot 0.9878
Sup. 0.9852 0.9803 0.9777
z aud.jpg

[GIGFX]

EURUSD

The European currency declined against the American dollar at the end of the last week trades, whereas, investors still have bullish positions on dollar due to the expectations of the American economic recovery, through the chart it is noticed that, a harmonic pattern AB=CD has been formed where, the rib (BC) represents 50% Fibonacci correction level for the rib (AB) so, it is expected that, the rib (CD) will be completed at 200% Fibonacci continuous level for the rib (BC). What confirms this pattern is closing the pair below the level 1.3208 which represents the (B) point, it is expected with the stability of this level which became a resistance level that, the pair will continue declining, forming the rib (CD) which ends at the support level 1.3060 and represents the (D) point that completes the harmonic pattern.

The stability of these expectations requires the stability of the resistance level 1.3208.


Res. 1.3319 1.3451 1.3544
Pivot 1.3226
Sup. 1.3094 1.3001 1.2869
2 euro.jpg

GBPUSD


As it was expected at the end of the last week trades, indeed, the pair declined targeting the support level 1.5430 that was mentioned previously and reflected up trying to correct this bearish move, at the beginning of this week trades more medium-term declining is expected for the pair in order to form a harmonic pattern AB=CD and now it is in the forming stage to the last wave CD but with close below the level 1.5500 then it will target 1.5100.
The expectations of today's trades are that, the pair will reflect up trying to re-test the resistance level 1.5640 then will decline down again.
So that, bearish positions are not recommended until breaking the support level 1.5430 that the pair tried to test it at the end of the last week trades.
These expectations remains by the stability of the resistance level 1.5640.


RES. 1.5633 1.5736 1.5826
Pivot 1.5543
Sup. 1.5440 1.5350 1.5247
2 gbp.jpg

USDCHF


The support level 0.9580 succeeded to be stable against the pair testing for the second time, pushing the pair to rise and test the resistance level 0.9710 also for the second time, that caused the forming of the double bottom pattern that reflects the direction and that with breaking the neck line of the pattern which represents 0.9710 resistance level, the pattern will be confirmed.
If the pair succeeded to break this level up it is expected that, the pair will target the resistance level 0.9780 then the resistance level 0.9850.


RES. 0.9761 0.9821 0.9922
Pivot 0.9660
Sup. 0.9600 0.9499 0.9439
2 chf.jpg

USDCAD


The Canadian dollar didn't hold for along against rising the U.S dollar whereas what was expected that the Canadian dollar will maintain rising which will support breaking the pair to the bottom board for the symmetrical triangle pattern but what happened is breaking the upper board for the pattern which came to confirm the strength of the U.S dollar, the pair has pushed up after breaking the upper board with breaking the resistance level 1.0090 where it reaches till the level 1.0145 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0286 to 1.0004 ) and this level represents the highest price for last week trades, it's expected that with breaking it during the next trades that the pair will continue rising till the level 1.0178 which represents the targeted price for the symmetrical triangle pattern and also represents 76.4 % Fibonacci retracement correction level for the same mentioned bearish direction.
This expectation depends on the stability of the support level 1.0090.

Res. 1.0172 1.0211 1.0278
Pivot 1.0104
Sup. 1.0062 0.9996 0.9954
2 cad.jpg

AUDUSD

Till this moment the pair is still unable to break the support level 0.9860 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0182 to 0.9538 ) to form a new bottom at this level, and as mentioned in the chart this bottom formation gives a probability of forming a bullish channel but only if the trades are stable above the likely bottom board, in this case a bullish move is expected till the resistance level 0.9936 which with breaking it up the pair will continue rising again till the resistance level 1.0030.
This expectation depends on the stability of the support level 0.9860.
This analysis still remains till now


Res. 0.9924 0.9967 1.0009
Pivot 0.9882
Sup. 0.9839 0.9797 0.9754
2 aud.jpg

[GIGFX]

EURUSD


Yesterday trades saw the continuation of declining the European currency against the American dollar, the pair used this decline to form the bearish rib (CD) of the harmonic pattern AB=CD where, the pair registered the lowest price at the level 1.3095 in order to form a new bearish bottom, by observing forming the last bearish bottoms and the move of the stochastic index, a positive divergence that reflects the bearish direction is noticed, and indeed, reflected the price action during the last trades which marked by rising. It is expected that, the pair will continue rising in order to re-test the point (B) at the level 1.3208, if the pair succeeded to break this level, it will rise till reach the level 1.3276 at which the price may coincides with the bearish trend line that matches the point (A) with (B). and if the pair failed to break the level 1.3208, it will decline again till reach the support level 1.3060 which represents the point (B) that completes the harmonic pattern.

2 euro.jpg


GBPUSD


Yesterday, the support level 1.5480 succeeded to be stable against the price testing for the second time, and supports the expectation of more corrective rising for the intraday levels of today, that may push the pair to test the resistance level 1.5695 but under the condition of breaking the resistance level 1.5605 with a good close above, then the pair will target the resistance level 1.5695.

These expectations still stable by the stability of the support level 1.5480.

RES. 1.5565 1.5620 1.5665
Pivot 1.5520
Sup. 1.5465 1.5420 1.5365
2 gbp.jpg

USDCHF


The pair was unable to break the resistance level 0.9170 as it was expected yesterday; this level held against the price testing and caused a downward reflection for the price, confirming the strength of the bearish direction and that the price unable to continue the corrective rising with the expectation of more declining during the upcoming trades targeting the support level 0.9510 but first, it should break the strong support level 0.9580 in order to confirm the tendency of the pair to reach the target.

The stability of these expectations requires the stability of the resistance level 0.9710.


RES. 0.9702 0.9756 0.9791
Pivot 0.9667
Sup. 0.9613 0.9578 0.9524

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USDCAD


As expected in yesterday report that the pair was able to break the resistance level 1.0145 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0286 to 1.0004 ) to push the pair up again till the level 1.0178 which represents the targeted price for the symmetrical triangle pattern, although of achieving the pair the highest price for yesterday trades at the level 1.0208 but it didn't achieve a good close above the resistance level 1.0178 to form a bearish reflective candles at this level which will force the pair to fall again to retest the nearest support levels searching to form a bullish bottom will use it the pair to rise again trying to break the level 1.0178 which with breaking it the pair will continue rising till the level 1.0286, it's expected that a bullish bottom will be formed at the retest for the level 1.0145.
This expectation depends on the stability of the support level 1.0110.


Res. 1.0216 1.0266 1.0324
Pivot 1.0158
Sup. 1.0108 1.0050 1.0000
2 cad.jpg

AUDUSD

In the mentioned chart ,the pair was able to use the stability of the resistance level 0.9860 to rise again whereas it was able to break the resistance level 0.9936 to retest the resistance level 0.9979 which represents 0.764 % Fibonacci retracement correction level ( from 1.0025 to 0.9830 ), during the trades for the last medium period which was expected that it is between the bullish channel, the pair is in process to form a negative harmonic pattern AB=CD and it is forming now the bullish rib ( CD ) which is expected to be continued after breaking the resistance level 0.9979 and 1.0025 which represents the ( B ) point, after these breakthroughs the pair will form the ( CD ) rib which will be completed at the confined area between the level 1.0078 which represents 127% Fibonacci retracement continuous level for the rib ( BC ) and the level 1.0100 one of the resistance levels for the top boarder of the bullish channel.
This expectation depends on the stability of the support level 0.9860.


Res. 0.9967 1.0000 1.0050
Pivot 0.9914
Sup. 0.9881 0.9828 0.9795

2 aud.jpg

[GIGFX]

EURUSD

As it was expected yesterday, the pair re-tested the resistance area at the point B of the AB=CD positive harmonic pattern at the level 1.3208 forming a new top that pushed the pair to decline again and to continue forming the CD rib that has been completed by reaching the level 1.3075 which represents the lowest achieved price during yesterday trades.
Complete forming of the positive harmonic pattern with the continuation of the positive divergence that reflects the direction of the stochastic index with forming a bottom at the level 1.3075, all of these are signals confirm a beginning of forming a bullish direction during the upcoming trades. it is expected that the pair will continue rising in order to re-test the resistance level 1.3208 at which it is expected that the price will coincide with the bearish trend line that matches the point A with C. breaking the bearish trend line with breaking the level 1.3208 means rising till reach the level 1.3355.

The stability of these expectations requires the stability of the support level 1.3075.

Res. 1.3177 1.3253 1.3305
Pivot 1.3125
Sup. 1.3049 1.2997 1.2921
2 euro.jpg

GBPUSD


The vision today is a medium-term one whereas, the price action is moving in narrow trades during the last days, thus, AB=CD harmonic pattern in the forming stage is noticed where, the pair succeeded to form a couple of pattern waves and the price action now is in the forming stage of the last wave CD, but in order to finish this pattern, the pair should break the level 1.5485 which represents the point B, it is also noticed that, the pair now is trading below this level but breaking it with a good close below did not confirmed.
It is expected that, the medium-term bearish wave will remain and if the pair rose during the intraday trades, it will be a corrective rising, targeting the resistance level 1.5580 then, the pair will continue declining.
And bearish positions are not recommended until breaking the level 1.5485 with a good close below is confirmed then, the pair wil target to reach the support level 1.5100 for the medium period.


RES. 1.5545 1.5622 1.5677
Pivot 1.5490
Sup. 1.5413 1.5358 1.5281
2 gbp.jpg

USDCHF

The pair was unable to break the resistance level 0.9170 as it was expected yesterday; this level held against the price testing and caused a downward reflection for the price, confirming the strength of the bearish direction and that the price was unable to continue the corrective rising with the expectations of more declining during the upcoming trades targeting the support level 0.9510 but first, it should break the strong support level 0.9580 in order to confirm the tendency of the pair to reach the target.
The stability of these expectations requires the stability of the resistance level 0.9710.

Yesterday analysis is still remaining

RES. 0.9636 0.9692 0.9729
Pivot 0.9599
Sup. 0.9543 0.9506 0.9450
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USDCAD


During yesterday trades the pair has formed a new top at the resistance level 1.0208 which is the second consecutive top at this level. the conditions are enough for a reflective harmonic pattern for the bullish direction which is the double top to form, whereas the base of the pattern is at the support level 1.0150, breaking the base for the pattern is very important to confirm the pattern existence, confirming this break means that the pair will continue falling till the level 1.0092 which represents the targeted price for the pattern also if the pair succeeded on breaking the level 1.0092, the pair will continue falling directing to the next support level at 1.0004.

This expectation depends on the stability of the resistance level 1.0208.


Res. 1.0203 1.0233 1.0260
Pivot 1.0176
Sup. 1.0046 1.0119 1.0089
2 cad.jpg

AUDUSD

In this chart ,the pair was able to use the stability of the resistance level 0.9860 to rise again whereas it was able to break the resistance level 0.9936 to retest the resistance level 0.9979 which represents 76.4 % Fibonacci retracement correction level ( from 1.0025 to 0.9830 ). During the trades for the last medium period which was expected that it is between the bullish channel, the pair is in process to form a negative harmonic pattern AB=CD and it is forming now the bullish rib ( CD ) which is expected to be continued after breaking the resistance level 0.9979 and 1.0025 which represents the ( B ) point, after these breakthroughs the pair will form the ( CD ) rib which will be completed at the confined area between the level 1.0078 which represents 127% Fibonacci retracement continuous level for the rib ( BC ) and the level 1.0100 one of the resistance levels for the top boarder of the bullish channel.
This expectation depends on the stability of the support level 0.9860.
This analysis still remains till now

Res. 1.0006 1.0036 1.0080
Pivot 0.9962
Sup. 0.9932 0.9888 0.9858
2 aud.jpg

[GIGFX]

EURUSD

Yesterday trades saw forming a top at the level 1.3175 which represents 23.6% Fibonacci correction level for the bearish direction (from 1.3497 to 1.3075) at which the pair was pushed down in order to retest the nearest support level one of which is 1.3075 level, forming a new bottom at this level and it is the second consecutive bottom at the same level, this confirms the conditions of the existence of a double bottom pattern that reflects the bearish direction, the top of this pattern is at the resistance level 1.3175. The existence of this pattern with completing the positive harmonic pattern AB=CD and the continuation of the positive divergence that reflects the bearish direction, all these are strong signals of returning the pair to rise again.
It is expected during the upcoming trades that the pair will rise in order to break the level 1.3175 at which the price is expected to coincide with the bearish trend line which matches the point A with C. breaking these levels is important for the pair to continue rising till reaching the level 1.3285 which represents the target of the pattern and also represents 50% Fibonacci correction level for the mentioned bearish direction.
In order to reach this target, the pair should break the resistance level 1.3208 which represents the point B of the harmonic pattern.
The stability of these expectations requires the stability of the support level 1.3075.

Res. 1.3160 1.3221 1.3262
Pivot 1.3119
Sup. 1.3059 1.3017 1.2956
2 euro.jpg


GBPUSD

The pair on the medium-term was moving in narrow trades during the last days. It is noticed that the pair is in the forming stage of a harmonic pattern (AB=CD), the pair succeeded to form couple of waves for the pattern and now is forming the last wave CD.
As it was expected yesterday, the pair declined breaking the level 1.5484 which represents the point B of the pattern which was formed by reaching the lowest registered price at the level 1.5356.
It is expected on the short-term the continuation of the bearish wave for the pair and if the pair rose during the upcoming trades, it will be a corrective rising; its target is to test the resistance level 1.5485, then the pair will continue declining targeting the support level 1.5100 which represents the target of the wave CD for the formed pattern.
The stability of these expectations for the intraday levels of today requires the stability of the resistance level 1.5485.


RES. 1.5465 1.5548 1.5603
Pivot 1.5411
Sup. 1.5329 1.5274 1.5192

2 gbp.jpg

USDCHF


The pair continues declining that was started at the level 1.0065 so it is expected that it will continue declining till reaching the level 0.9406 which represents 127% Fibonacci continuous level for the last bullish wave.
These expectations requires the pair’s stability below the resistance level 0.9549 which represents 100% Fibonacci continuous level.
But if the pair succeeded to break this level with stability above, it will target the level 0.9670 which represents 76.4% Fibonacci continuous level for the mentioned bullish wave.


RES. 0.9572 0.9625 0.9659
Pivot 0.9538
Sup. 0.9485 0.9451 0.9398
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USDCAD

During yesterday trades the pair was able to break the support level 1.0150 which represents the base for the reflective pattern; double consecutive tops whereas the pair has achieved the lowest price during yesterday trades at the level 1.0112, so it's expected that with breaking this level during the next intraday trades the pair will continue falling till the level 1.0092 which represents the pattern’s target and at the same time if the pair succeeds on breaking the level 1.0092, the pair will continue falling directing for the next support level at 1.0004 level.

This expectation depends on the stability of the resistance level 1.0150.



Res. 1.0171 1.0210 1.0240
Pivot 1.0141
Sup. 1.0102 1.0072 1.0033
2 cad.jpg

AUDUSD

In this chart ,the pair was able to use the stability of the resistance level 0.9860 to rise again whereas it was able to break the resistance level 0.9936 to retest the resistance level 0.9979 which represents 76.4 % Fibonacci retracement correction level ( from 1.0025 to 0.9830 ). During the trades for the last medium period which was expected that it is between the bullish channel, the pair is in process to form a negative harmonic pattern AB=CD and it is forming now the bullish rib ( CD ) which is expected to be continued after breaking the resistance level 0.9979 and 1.0025 which represents the ( B ) point, after these breakthroughs the pair will form the ( CD ) rib which will be completed at the confined area between the level 1.0078 which represents 127% Fibonacci retracement continuous level for the rib ( BC ) and the level 1.0100 one of the resistance levels for the top boarder of the bullish channel.
This expectation depends on the stability of the support level 0.9860.
This analysis still remains till now

Res. 1.0015 1.0042 1.0075
Pivot 0.9982
Sup. 0.9955 0.9922 0.9895
2 aud.jpg