GIGFX Daily Technical Analysis Report

[Success gateway]

EUR/USD

Yesterday, the common currency tried to decline but it rose against the U.S. dollar after holding the support level 1.3080 to test the bottom border of the bullish channel that has been broken previously, now, the pair is trying to trades above the top border of the channel and if the pair succeeded to do so, it should break the resistance level 1.3245 to confirm this bullish move then it may target the level 1.3350, on the other hand, if the level 1.3245 held, the pair will decline outside the range of the channel targeting to break the level 1.3080 then it may target the level 1.3000 followed by 1.2925.

Res: 1.3242 1.3325 1.3432
Pivot: 1.3135
Sup: 1.3052 1.2945 1.2862
02-02 EUR.jpg


GBP/ USD

The Sterling formed a new bottom yesterday for the near-term at the support level 1.5735 coinciding area with the bullish channel’s lower border in which the pair is still moving inside it for the near and mid-terms, the pair rose from this bottom breaching the resistance level 1.5805 till it achieved the highest price at the level 1.5885 by coinciding with the channel’s top border, the pair tried during the last intraday trades completing the top at the level 1.5885 to decline again in order to retest the level 1.5805 which became a support level, moreover it’s expected with breaching up the level 1.5885; the pair will rise again till the next resistance level 1.5940.

This scenario depends on the stability of the support level 1.5805.

Res: 1.5908 1.5983 1.6084
Pivot: 1.5807
Sup: 1.5732 1.5631 1.5556
02-02 gbp usd.jpg


USD/CHF

The pair failed to break the resistance level 0.9225 which represents 23.6% of fibonacci's correction level for the bearish wave (From 0.9575 to 0.9115) which led the pair to decline again breaking the support level 0.9160 and reached the support level 0.9120 which coincides with the top border of the bearish channel that has been broken previously, so, it is expected that, the pair will rise to re-test the resistance level 0.9225 but under the condition of breaking the resistance level 0.9160.
The stability of these expectations requires holding the support level 0.9120.

Res: 0.9230 0.9307 0.9365
Pivot: 0.9172
Sup: 0.9095 0.9037 0.8960
[IMG][IMG]


USD/JPY

During the previous trades; the USD/JPY pair was confined between the resistance level 76.35 which represents the top border and the support level 76.05 which represents the lower border, so breaching one of those borders is expected in order to determine the pair’s next direction, if the pair broke the support level 75.05 so it will target the support level 75.90 as a 1st target then the support level 75.75 as a 2nd target, but in case of breaching the resistance level 76.35 thus the pair will target the resistance level 76.52 as a 1st target then the resistance level 76.65 as a 2nd target.

Res: 76.35 76.51 76.68
Pivot: 76.18
Sup: 76.02 75.85 75.69
[IMG][IMG]


AUD/USD

After testing the AUD/USD pair the level 1.0580 for the second consecutive time during the previous trades coincided with the bullish channel’s lower border through the previous report, the pair rose by breaching the level 1.0686 which represents the complement head and shoulders pattern’s neckline for the bullish direction which was expected in case of breaching it; that the pair will target the resistance level 1.0750 then the level 1.0845 representing the final target, this depends on the stability of the level 1.0686, in case of trading the pair below it thus it will decline retesting the level 1.0580, moreover it also means breaching the channel’s lower border and sharpness the probability of retreating the pair in order to test the support levels as 1.0470 then 1.0365.


Res: 1.0771 1.0840 1.0942
Pivot: 1.0669
Sup: 1.0600 1.0498 1.0429
02-02 AUD.jpg

[Success gateway]

EUR/USD

The EUR/USD succeeded to break the bottom border of the long and mid-term bullish channel and then it tested the support level 1.3080 then it rose from this level to test the bottom border of the channel again, the pair declined after testing the bottom border of the channel to trade around the level 1.3080 during the last intraday trades. It is expected that the pair will continue declining targeting to break the support area between the levels 1.3080 and 1.3025 then it may decline again targeting the support level 1.2925 which coincides with the target of breaking the channel, but if the pair held above the level 1.3080 it will rise again re-testing the near resistance level reaching the level 1.3245.

Res: 1.3210 1.3275 1.3346
Pivot: 1.3139
Sup: 1.3074 1.3003 1.2938
06-02 EUR.jpg


GBP/ USD

The Sterling pair is trading outside the bullish channel which was for the near and mid-terms with a strong signal of starting the bearish near-term corrective direction, whereas there’s a target for the pair to get out from this channel in order to reach the support level 1.5634 which represents 38.2% Fibonacci retreatment correction level for the bullish direction extending (from 1.5234 to 1.5882), reaching this level during the next trades; the support level 1.5729 must be broken down.

This scenario depends on the stability of the resistance level 1.5830.

Res: 1.5868 1.5919 1.5978
Pivot: 1.5809
Sup: 1.5758 1.5699 1.5648
06-02 gbp usd.jpg


USD/CHF

As it was expected, the USD/CHF rose against the U.S dollar reaching the resistance level 0.9225 which represents 32.6% of fibonacci's correction level for the last bearish wave (from 0.9575 to 0.9115) as the pair failed to break the support level 0.9150, so, it is expected that, the pair will continue rising targeting the resistance level 0.9290 which represents 38.2% of fibonacci's correction level for the last bearish wave, this level also coincides with the final target of breaking the top border of the bearish channel but under the condition of breaking the resistance level .9225.

The stability of these expectations requires holding the support level 0.9150.

Res: 0.9239 0.9239 0.9346
Pivot: 0.9183
Sup: 0.9132 0.9076 0.9025
[IMG][IMG]

USD/JPY

The USD/JPY pair trades rose sharply during last week trades end, this bullish move was supported by breaking up the resistance level 76.35 which represents the (double consecutive bottoms) top pattern, the bullish move is expected to be continued during the next intraday trades till targeting the resistance level 76.88 which represents 38.2% Fibonacci retracement correction level for the last bearish wave (from 78.28 to 76.01) the pair’s stability above this level will give it the chance to target the resistance level 77.14 as a second target.

This scenario depends on the stability of the support level 76.35.

Res: 76.82 77.07 77.42
Pivot: 76.47
Sup: 76.22 75.87 75.62
[IMG][IMG]


AUD/USD

The AUD/USD pair is moving inside the bullish long-term channel as was mentioned before, whereas the pair formed a bearish top around the level 1.0794 without reaching the level 1.0845 as a head and shoulders pattern’s target, the mentioned top pushed the pair down in which it extended till now, moreover it’s expected that it will continue declining till the support level 1.686 coinciding with the bullish channel’s lower border, in case of the previous mentioned support level’s stability with the channel’s lower border thus it’s expected that the pair will rise till breaking the resistance area between 1.0750 and 1.0794, but trading the pair below the bullish channel’s lower border will give the expectations of declining the pair during the next trades moreover it may initially target the support level 1.0580 then the level 1.0470 as the bullish channel’s breaking target.

Res: 1.0817 1.0866 1.0939
Pivot: 1.0744
Sup: 1.0695 1.0622 1.0573
06-02 AUD.jpg

[Success gateway]

EUR/USD

The EUR/USD failed to break the support area between the levels 1.3080 and 1.3025 as it rose from the level 1.3025 to trade above the level 1.3080 during the current trades, generally, holding the pair above the bottom border of the channel supports the bullish direction of the pair and it is expected to target the resistance levels 1.3245 followed by 1.3350. but if the pair broke the level 1.3025 it may decline targeting the support level 1.2925 which represents the target of breaking the bullish channel.

Res: 1.3172 1.3213 1.3284
Pivot: 1.3101
Sup: 1.3060 1.2989 1.2948
07-02 EUR.jpg


GBP/ USD

The Sterling failed to break down the support level 1.5729 during yesterday trades, a bottom has been formed pushed the pair up again with a strong sign that the pair will continue its bullish direction for the mid-term, it’s expected during the next intraday trades that the pair will retest the resistance level 1.5882 which with breaching it up means continuing the bullish direction till level 1.5975 which represents 161.8% Fibonacci retracement continuous level for the bearish direction (from 1.5882 to 1.5729).

This scenario depends on the stability of the support level 1.5729.

Res: 1.5863 1.5906 1.5973
Pivot: 1.5796
Sup: 1.5753 1.5686 1.5643
07-02 gbp usd.jpg


USD/CHF

The pair failed to continue rising as it failed to break the resistance level 0.9255 which coincides with the top border of the bullish channel in which the pair is moving, which led the pair to decline again breaking the support level 0.9225 which represents 23.6% of fibonacci's correction level for the last bearish wave (From 0.9225 to 0.9115) and it reached the support level 0.9185 which coincides with the bottom border of the bullish channel, it is expected that the pair will rise again standing at the support level 0.9185 to re-test the resistance level 0.9255 but under the condition of breaking the resistance level 0.9225.

The stability of these expectations requires holding the support level 0.9185.

Res: 0.9239 0.9292 0.9323
Pivot: 0.9208
Sup: 0.9155 0.9124 0.9071
[IMG][IMG]

USD/JPY

The USD/JPY pair is forming the AB=CD harmonic pattern whereas it formed a bottom at the level 76.51 which represents the C point, the pair rose trying to form the CD rib, moreover it’s expected that the pair will continue rising during the next trades till the resistance level 76.79 which represents the B point, breaching this level means a further rise till the level 77.24 which represents the complement D point for the harmonic pattern.

This scenario depends on the stability of the support level 76.51.

Res: 76.72 76.91 77.03
Pivot: 76.60
Sup: 76.41 76.29 76.10
[IMG][IMG]

AUD/USD

The AUD/USD pair rose during the previous trades after neared the support level 1.0686 with the channel’s lower border, this pushed the pair to breach the level 1.0750 trading around the resistance level 1.0794 during the current trades, in case of breaching the previous mentioned resistance level thus it’s expected that the pair will complete rising in order to initially rise and target the resistance level 1.0845, but rising the current resistance level may push the pair down again in order to test the nearest resistance levels as 1.0750 and 1.0686.

Res: 1.0764 1.0809 1.0850
Pivot: 1.0723
Sup: 1.0678 1.0637 1.0592
07-02 AUD.jpg

[Success gateway]

EUR/USD

As it was expected, the pair rose after holding the support area between the levels 1.3080 and 1.3025, it reached the level 1.3025 to trade above the level 1.3080, then it rose near the resistance level 1.3245 during the current trades, it is expected that, if the pair tended to rise it will break the current resistance level targeting the resistance level 1.3350 which may coincide with testing the bottom border of the broken channel, but if the resistance level 1.3245 held, the pair will decline alittle targeting to test the near support levels which may push the pair to test the support area between the levels 1.3080 and 1.3025.

Res: 1.3324 1.3386 1.3502
Pivot: 1.3208
Sup: 1.3146 1.3030 1.2968
08-02 EUR.jpg


GBP/ USD

The Sterling rose again till the resistance level 1.5882 moreover it broke it up, this bullish move came after the formed bottom has been based at the support level 1.5729, whereas the pair is forming the AB=CD harmonic pattern and the resistance level 1.5882 which represents the B point and the support level 1.5729 which represents the C point, thus it’s expected that the pair will continue forming the remaining part for the bullish CD rib which targets the resistance level 1.5960 representing the complement D point.

This scenario depends on the stability of the support level 1.5882.

Res: 1.5937 1.5979 1.6054
Pivot: 1.5862
Sup: 1.5820 1.5745 1.5703
08-02 gbp usd.jpg


USD/CHF

The pair succeeded to break the resistance level 0.9185 which coincides with the bottom border of the bullish channel in which the pair is moving, after it failed to break the resistance level 0.9225 which represents 23.6% of fibonacci's correction level for the last bearish wave (From 0.9575 to 0.9115) and it broke the support level 0.9155 and reached the support level 0.9155 which represents the target of breaking the bottom border of the bullish channel, it is expected that the pair will rise again correctly to re-test the support level 0.9185 but under the condition of breaking the resistance level 0.9155.

The stability of these expectations requires holding the support level 0.9115.

Res: 0.9192 0.9268 0.9309
Pivot: 0.9151
Sup: 0.9075 0.9034 0.8958
[IMG][IMG]

USD/JPY

The USD/JPY pair rose, it breached the resistance level 76.79 which represents the B point for the AB=CD harmonic pattern which was the 1st target, then it targeted the resistance level 77.24 in order to complete the CD rib, reaching this level; the pair must correct the pattern, thus it’s expected with completing the CD rib at the level 77.24 it will reverse down correcting the support level 76.79 which represents the B point then the resistance level 76.51 which was representing the C point as the 2nd target, the pair’s stability below this level may give it the chance to target the resistance level 76.03 which represents the A point.

Res: 76.97 77.18 77.41
Pivot: 76.74
Sup: 76.53 76.30 76.09
[IMG][IMG]

AUD/USD

During yesterday trades the AUD/USD pair rose from the support level 1.0686 which coincides with the channel’s lower border, this promoted the pair to break the level 1.0750 trading around the resistance level 1.0794 during the previous and the current trades, it formed a near-term sub-channel, in the case of breaking the mentioned resistance level thus it’s expected that the pair will continue rising in order to initially target the resistance level 1.0850, but holding the current resistance level may push the pair down again in order to test the nearest support levels as 1.0750 and 1.0686.

Res: 1.0851 1.0896 1.0971
Pivot: 1.0776
Sup: 1.0731 1.0656 1.0611
08-02 AUD.jpg

[Success gateway]

EUR/USD

The last trades of EUR/USD were in a narrow range near the level 1.3245 that the pair reached after holding the support area between the levels 1.3080 and 1.3025 as it was expected previously. It is expected that, the pair tends to continue rising it will break the current resistance level targeting the resistance level 1.3350 which may coincide with testing the bottom border of the broken channel, but if the resistance level 1.3245 held, the prices will retreat targeting to test the near support levels and it may test the support area between the support levels 1.3080 and 1.3025.

Res: 1.3292 1.3322 1.3356
Pivot: 1.3258
Sup: 1.3228 1.3194 1.3164
09-02 EUR.jpg


GBP/ USD

The Sterling ended the bullish CD rib for the AB=CD harmonic pattern at the resistance level 1.5927, thus during yesterday trades a top had been formed at this level forced the pair to form a corrective bearish wave, the pair formed a bottom at the support level 1.5792 which is located at 76.4% Fibonacci retracement correction level for the bullish CD rib therefore it’s expected that the pair will use this bottom to rise up again till retesting the resistance level 1.5927 which was expected to be broken up till the resistance level 1.5963 which represents 127% Fibonacci retracement continuous level for the last bearish wave.

This scenario depends on the stability of the support level 1.5792.

Res: 1.5897 1.5977 1.6027
Pivot: 1.5847
Sup: 1.5767 1.5717 1.5637
09-02 gbp usd.jpg


USD/CHF

The USD/CHF succeeded to hold at the support level 0.9115 which led the pair to rise again to retest the resistance level 0.9150 as it was expected, and it failed to rise again as it failed to break the resistance level 0.9150 which led the pair to decline again. It is expected that the pair will continue declining breaking the support level 0.9115 followed by the support level 0.9075.

The stability of these expectations requires holding the resistance level 0.9150.

Res: 0.9146 0.9169 0.9189
Pivot: 0.9126
Sup: 0.9103 0.9083 0.9060
[IMG][IMG]

USD/JPY

The USD/JPY pair broke the support level 76.79 which represntes the AB=CD harmonic pattern’s B point, it tried to correct this pattern, but it failed to hold below this level revereing up till retesting the resistance level 77.24 which represnts the D point depite that, but it’s expecetd during the intraday trades that the pair will try to retest correcting the pattern in order to retest the support level 76.79 and the stability below it will give the pair the chance to target the support level 76.51 as a 2nd target which erpersntes the C point then the support level 76.03 which represnts the A point.

This scenario depends on the stability of the resistance level 77.24.

Res: 77.23 77.43 77.70
Pivot: 76.96
Sup: 76.76 76.49 76.29
[IMG][IMG]

AUD/USD

During yesterday trades the AUD/USD pair retreated with retesting the support level 1.0750 which coincides with testing the double bullish channels near and long-terms boarders, this pushed the pair up in order to break the level 1.0794 targeting the level 1.0850 which coincides with the near-term channel’s top border, this depends on holding the level 1.0750 with the mentioned channels support levels, in case of trading the pair below it thus it’s expected that the main direction will be changed to the near-term; in order to target the support levels below the support levels 1.0686 and 1.0580 start.

Res: 1.0838 1.0879 1.0915
Pivot: 1.0802
Sup: 1.0761 1.0725 1.0684
09-02 AUD.jpg

[Success gateway]

EUR/USD

The narrow range is still dominating the trades of the single currency against the U.S. dollar between the levels 1.3320 and 1.3215, it is expected that, the pair may decline breaking the level 1.3215 to target the support area between the levels 1.3080 and 1.3025, or, it may break the resistance level 1.3320 targeting the level 1.3430, but the expectations tend to be bearish as the pair broke the bullish channel.

Res: 1.3332 1.3377 1.3434
Pivot: 1.3275
Sup: 1.3230 1.3173 1.3128
10-02 eur.jpg


GBP/ USD

The Sterling formed the previous mentioned bullish wave which was initially awaited to reach the resistance level 1.5927, whereas this wave formed a bearish top at the resistance level 1.5885, this top pushed the pair down again, it’s expected that the bearish 1.2.3 pattern will be formed, the pair’s last trades is below the level 1.5800 which represents the support wave (1) thus the pair will continue forming the bearish wave (3) remaining part which will target the support level 1.5747, if the pair continued the bearish move therefore a further drop is expected till the support level 1.5662, this scenario depends on the stability of the resistance level 1.5885 breaking up this level means a further rise till the resistance level 1.5963.

Res: 1.5870 1.5923 1.5962
Pivot: 1.5831
Sup: 1.5778 1.5739 1.5686
10-02 gbp usd.jpg


USD/CHF

The pair retreated to the support level 0.9090 after it failed to break the resistance level 0.4140 which coincides with the bearish trendline for intraday trades, it rose again breaking the bearish trendline so it is expected that the pair will continue rising targeting the resistance level 0.9180 which represents the target of breaking the bearish trendline but under the condition of breaking the resistance level 0.9140, and if the pair broke the support level 0.9090 it will decline targeting the support level 0.9040.

The stability of these expectations requires holding the support level 0.9090.

Res: 0.9150 0.9183 0.9214
Pivot: 0.9119
Sup: 0.9086 0.9055 0.9022
[IMG][IMG]

USD/JPY

The USD/JPY pair rose and also targeted the resistance level 77.74 which represents the bullish channel’s top border which was formed during the previous trades, although that but it’s expected during the intraday trades that the pair will face the resistance level 77.74 then it will be pushed down in order to correct the bullish wave by targeting the support level 77.35 which represents 23.6% Fibonacci retracement correction level for the last bullish wave (from 76.05 to 77.74) breaking this level means a further drop for the pair till the support level 76.89 which represents 50% from the same previous mentioned Fibonacci levels, in condition the pair must break the support level 77.10.

This scenario depends on the stability of the resistance level 77.74.

Res: 77.92 78.19 78.65
Pivot: 77.46
Sup: 77.19 76.73 76.46
[IMG][IMG]

AUD/USD

The AUD/USD pair declined during yesterday trades after it formed a top around the level 1.0844 pushed it down till it broke the level 1.0750 in order to trade during the current trades around the level 1.0679 representing by 32.6% Fibonacci retracement correction level for the last bullish move (from 1.0144 to 1.0844), breaching this bullish channel support levels which was supporting the bullish move, whereas it’s expected that the pair will decline in order to target the level 1.0630 as a target for the near-term channel then the level 1.0530 as a target for the long-term, in condition the pair must break the level 23.6% from the same previous mentioned Fibonacci levels, with the probability of rising the pair in order to test one of the broken channel’s borders with testing the formed top around the level 1.0844.

Res: 1.0825 1.0866 1.0909
Pivot: 1.0782
Sup: 1.0741 1.0698 1.0657
10-02 aud.jpg

[Success gateway]

EUR/USD

The pair formed a top at the level 1.3320 that pushed it to decline, the pair tried to test the main bullish trendline and rose targeting the level 1.3320 again, the pair formed the harmonic pattern AB=CD which will push the pair to continue rising during the upcoming near and mid-term trades but under the condition of breaking the resistance level 1.3320 which represents the point B of the pattern, then it will target the resistance level 1.3430 which represents the point D of the pattern, but holding the resistance level 1.3320 will push the pair to decline targeting to break the support level 1.3215 and will break the main bullish trendline targeting the support area between the levels 1.3080 and 1.3025.

Res: 1.3262 1.3344 1.3397
Pivot: 1.3209
Sup: 1.3127 1.3074 1.2992
13-02 EUR.jpg


GBP/ USD

The Sterling continued retreating during the previous week end till it completed the 1.2.3 pattern; it reached the support level 1.5747 area which represents the (3) wave end, a bottom was formed at this area pushed the pair up at this week trades beginning by registering a bullish gap as a sign of starting the new bullish directions, but it’s expected that the pair will cover all the price gap before rising again therefore it’s expected with retesting the support level area between the levels 1.5747 and 1.5728 during the next intraday trades searching to form a bottom again will push it up in order to breach up the bearish trendline for the near-term then breaching up the resistance level 1.5800 then the pair will initially continue rising till the resistance level 1.5885.

This scenario depends on the stability of the support level 1.5728.

Res: 1.5818 1.5894 1.5939
Pivot: 1.5773
Sup: 1.5697 1.5652 1.5576
13-02 gbp usd.jpg


USD/CHF

The pair stood at the support level 0.9090 as it was expected which led the pair to rose breaking the resistance level 0.9155 which represents 38.2% of fibonacci's correction level for the last bearish wave (From 0.9265 to 0.9090) and then it reached the resistance level 0.9195 which represents 61.8% of the same levels then it failed to break this level and declined reaching the support level 0.9130 (23.6%) as it began with a bearish gap. It is expected that, the pair will rise again to cover this gap and to retest the resistance level 0.9195 then it will decline but under the condition of breaking the resistance level 0.9155.

The stability of these expectations requires holding the support level 0.9090.

Res: 0.9213 0.9254 0.9310
Pivot: 0.9157
Sup: 0.9116 0.9060 0.9019
[IMG][IMG]

USD/JPY

After raising the USD/JPY pair during last week trades, it Fluctuated which led it to trade inside the sideway channel between the support level 77.55 which represents the channel’s lower border and the resistance level 77.74 which represents the channel’s top border, therefore it’s expected that the pair will get out from one of the previous mentioned borders, breaching the pair the support level 77.55 thus it will target the support level 77.33 but in case of breaching the resistance level 77.74 thus the pair will target the resistance level 77.93.

Res: 77.79 77.94 78.08
Pivot: 77.65
Sup: 77.50 77.36 77.21
[IMG][IMG]

AUD/USD

The AUD/USD pair retreated during the previous trades; it broke the level 1.0750 and reached the level 1.0640 which represents the bullish channel’s target for the near-term in order to rise testing the level 1.0750 again during the current trades also testing the both broken channel’s lower borders, in case of holding the level 1.0750 thus it’s expected that the pair will retreat again in order to break the level 1.0640 targeting the level 1.0530 as a result for breaching the mentioned channels, but in case of holding the pair above the level 1.0750 it’s expected that the pair will try to reach the resistance level 1.0844 represents the previous mentioned top and may breach it.

Res: 1.0753 1.0846 1.0903
Pivot: 1.0696
Sup: 1.0603 1.0546 1.0453
13-02 AUD.jpg