GIGFX Daily Economic Analysis - page 10
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Wednesday 22nd of June 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair rose previously to pass 50% correction level for the last bearish move from 1.4696 to 1.4074, around 1.4385 price, which increases the possibilities of the bullish move for the pair targeting 1.4460 level represented by 61.8% correction level during the upcoming short trades, but the formation of a bullish wedge for the previous medium trades must be considered, as if the pair was able to break its bottom rib it will fall targeting 1.4310 support level coinciding with 38.2% correction in order to retest it.
Res: 1.4454 1.4497 1.4572
Pivot: 1.4379
Sup: 1.4336 1.4261 1.4218
Thursday 23rd of June 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair rose previously to pass 50% correction level for the last bearish move from 1.4696 to 1.4074, around 1.4385 price,to face 61.8% correction level during the previous trades forming a bearish wedge that the pair was able to break its bottom line previously, causing the pair falling to break 50% level and to trade under 38.2% level, leading the expectation for further falling to target 1.4220 level represented by 23.6% correction level, then 1.4140 as the pattern final target, but if the pair traded above 1.4310 level it will rise to retest 1.4385 resistance level.
Res: 1.4416 1.4477 1.4514
Pivot: 1.4379
Sup: 1.4318 1.4281 1.4220
Friday 24th of June 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair fell previously reaching 1.4127 price forming a bottom at this level to push the pair to rise forming a top at the resistance level 1.4276, to form the harmonic pattern (AB=CD) that supposed to push down the pair to retest 1.4127 level represented by (B) point for the pattern, and if the pair was able to pass this level it will target 1.3970 level as the expected (D) point for the pattern, but if the pair was able to trade above 1.4127 level it will rise searching a good resistance level to retest it such as 1.4350 level.
Res: 1.4365 1.4475 1.4594
Pivot: 1.4246
Sup: 1.4136 1.4017 1.3907
Monday 27th of June 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair fell previously reaching after forming a top at the resistance level 1.4306, to form the harmonic pattern (AB=CD) that supposed to push down the pair to target 1.3970 level as the expected (D) point for the pattern, but if the pair must hold below 1.4127 level represented by (B) point for the pattern, and if the pair was able to trade above 1.4127 level it will rise retesting 1.4306 level.
Res: 1.4137 1.4151 1.4165
Pivot: 1.4123
Sup: 1.4109 1.4095 1.4081
Friday 6th of May 2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected through yesterday analysis, the pair declined breaking the support level 1.4770 to continue declining till reached the level 1.4660 which represents the target of exiting out of the confusion area, the bearish positions is still dominating the pair's dealings as the pair succeeded to break the level 1.4660 registering the lowest price at 1.4510, this strong bearish direction for the European common currency has been supported by holding the interest rate at 1.25% so it is expected that, with breaking the level 1.4510 the pair may continue declining till reach the level 1.4342 which represents 76.4% of Fibonacci's correction level for the bullish direction (from 1.4157 to 1.4940).
The stability of these expectations requires the stability of the resistance level 1.4710.
Res: 1.4789 1.5038 1.5178
Pivot: 1.4649
Sup: 1.4400 1.4260 1.4011
GBP/ USD
As it is noticed through this chart, the pair succeeded to break the neckline of the head and shoulders pattern registering the lowest price of yesterday dealings at the level 1.6357; it is expected for the upcoming trades that the pair may decline targeting the level 1.6166 which represents the target of the pattern but under the condition of breaking the level 1.6357 and also the support level 1.6320 which represents 76.4% of fibonacci's correction level for the bullish move (from 1.6166 to 1.6743).
The stability of these expectations requires the stability of the resistance level 1.6450.
Res: 1.6501 1.6614 1.6686
Pivot: 1.6429
Sup: 1.6316 1.6244 1.6131
USD/CHF
As the pair registered new record at the level 0.8554 the day before yesterday while moving in the same bearish channel for short and medium-term, but the pair gave a sign of an upcoming bullish direction by forming the hammer candle so as it was mentioned through yesterday analysis that the pair succeeded to exit this bearish channel at the resistance level 0.8678 which represents the top border of the channel so it is expected that the pair may rise targeting the resistance level 0.8765 and if it was able to break it with stability above it may continue rising targeting the resistance level 0.8853.
The stability of these expectations requires the stability of the pair below the resistance level 0.8707.
Res: 0.8759 0.8814 0.8916
Pivot: 0.8657
Sup: 0.8602 0.8500 0.8445
USD/CAD
As mentioned yesterday, that the pair broke the top border for the sideway channel and reached the targeted prices which was mentioned before but the pair was unable to be stabile above the resistance level 0.9685 therefore it's expected that the pair will continue the correction and rising direction to retest the resistance level 0.9685 and the stability above this level which gives the pair the chance to continue reaching the resistance level 0.9710 which represents 50.0% Fibonacci retracement correction level with breaking this level and the stability above it which makes the pair continue rising till the resistance level 0.9771 which represents 61.6% the same mentioned Fibonacci retracement correction level.
This expectation depends on the stability of the pair above the support level 0.9649.
Res: 0.9729 0.9792 0.8916
Pivot: 0.9648
Sup: 0.9585 0.9504 0.9441
AUD/USD
The AUD/USD pair was able to break the bullish channel bottom line during the past trades to trade under the expected support level 1.0770 and 23.6% correction level for the bullish move from 0.9706 to 1.1011, approaching 38.2% correction level as was expected, in case the pair tends to continue the bearish direction it's expected to reach 50% correction level around 1.0513 price, which depends on the stability of 1.0770 level, but in case the pair tends to continue the main bullish movement that will be confirmed by trading above 1.0770 again, it will target the retesting of 1.1011 level which if broke the pair will target 1.1050 level.
Res: 1.0719 1.0861 1.0953
Pivot: 1.0627
Sup: 1.0485 1.0393 1.0251
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Monday 9th of May 2011 GIGFX Technical Analysis Report
EUR/USD
The treads of the last week saw more declining for the European common currency against the U.S dollar as the pair declined till reached the level 1.4342 which represents 76.4% of Fibonacci's correction level for the bullish move (From 1.4175 to 1.4940) and this is what was expected through the last analysis. A bottom has been formed at the same mentioned level and pushed the pair upside to form a bearish top for the short-term and it is expected to be around the resistance level 1.4456, this bearish top will force the pair to decline to test the support level 1.4342 which with its breaking down the pair means more declining till reach the next support level at 1.4157.
The stability of these expectations rquires the stability of the resistance level 1.4510.
Res: 1.4510 1.4684 1.4782
Pivot: 1.4412
Sup: 1.4238 1.4140 1.3966
GBP/ USD
During trades of the last week the pair declined breaking down the level 1.6450 forming Gartley harmonic pattern for near and medium-term and now the pair is moving in the range of the last wave CD which targets the support level 1.6280 so it is expected that the pair will continue declining during the intraday levels of today targeting the mentioned support level 1.6280 which represents 76.4% of Fibonacci's correction level for the wave XA.
The stability of these expectations requires the stability of the resistance level 1.6450.
Res: 1.6435 1.6501 1.6542
Pivot: 1.6394
Sup: 1.6328 1.6287 1.6221
USD/CHF
After the pair exited out of the bearish channel it is expected to continue its corrective move and may target the resistance level 0.8837 which represents 38.2% of Fibonacci's correction level for the last bearish wave for the medium-term and if the pair broke this level with stability above it the pair will continue its corrective move and will target the resistance level 0.9823 which represents 50.0% of Fibonacci's correction level for the same mentioned wave.
The stability of these expectations requires the stability of the pair above the support level 0.8729 which represents 23.6% of the same mentioned Fibonacci's levels.
Res: 0.8828 0.8874 0.895
Pivot: 0.8752
Sup: 0.8706 0.863 0.8584
USD/CAD
After getting out the pair from the confined area it's expected that the pair will continue the bullish corrective direction therefore it's expected that the pair will rise and also will target the resistance level 0.9647 which represents 38.2% Fibonacci retracement correction level for the bullish direction and the stability of the pair above this level which will force the pair to continue the corrective direction till reaching the new resistance level 0.9709 which represents 50.0% Fibonacci retracement correction level and the stability of the pair above this level which will force the pair to target the resistance level 0.9771 which represents 61.8% from the same previous mentioned Fibonacci retracement correction levels.
But this depends on closing the pair a good close above the resistance level 0.9647 which represents 38.2% from the same previous mentioned Fibonacci retracement correction levels.
Res: 0.9717 0.9772 0.9845
Pivot: 0.9644
Sup: 0.9589 0.9516 0.9461
AUD/USD
The AUD/USD pair was able to break the bullish channel bottom line during the past trades to trade under the expected support level 1.0770 and 23.6% correction level for the bullish move from 0.9706 to 1.1011, approaching 38.2% correction level as was expected to reflect up from this level retesting 1.0770 level currently, in case the pair tends to continue the bearish direction it's expected to reach 50% correction level around 1.0513 price, which depends on the stability of 1.0770 level, but in case the pair tends to continue the main bullish movement that will be confirmed by trading above 1.0770 again, it will target the retesting of 1.1011 level which if broke the pair will target 1.1050 level.
Res: 1.0981 1.1001 1.1203
Pivot: 1.0779
Sup: 1.0759 1.0557 1.0537
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Tuesday 10th of May 2011 GIGFX Technical Analysis Report
EUR/USD
The 17 nation currency dropped against the U.S dollar as yesterday trades saw breaking the support level 1.4342 which represents 76.4% of Fibonacci's correction level for the bullish move (from 1.4157 to 1.4940) to register the lowest price of these trades at the level 1.4255, a bottom has been formed at this level and pushed the pair to re-test the nearest resistance level, one of them is the level 1.4375 which pushed the pair again targeting the support level 1.4255, more declining is expected for the pair targeting the level 1.4157 but under the condition of breaking the support level 1.4255.
The stability of these expectations requires the stability of the resistance level 1.4375.
Res: 1.4452 1.4540 1.4639
Pivot: 1.4353
Sup: 1.4265 1.4166 1.4078
GBP/ USD
As it was expected through yesterday analysis, the pair succeeded to reach the target of the harmonic pattern Gartley by testing the support level 1.6280 and forming a reversal candle just when it touched this level and reflected upside expecting that the pair may try to re-test the resistance level 1.6450 which represents the point B for the formed pattern during today's intraday trades before continue declining again targeting the support level 1.6280.
The stability of these expectations requires the stability of the resistance level 1.6450.
Res: 1.6449 1.6496 1.6586
Pivot: 1.6359
Sup: 1.6312 1.6222 1.6175
USD/CHF
After the pair broke out of the bearish channel it is expected to continue the corrective bullish direction and will target the resistance level 0.8801 again and this level is the first target that the pair achieved after breaking out of this channel so if the pair broke this level it will target a new resistance level at 0.8938, but under the condition of the stability of the pair above the resistance level 0.8801.
Res: 0.8766 0.8816 0.8845
Pivot: 0.8737
Sup: 0.8687 0.8658 0.8608
USD/CAD
After getting out the pair from the confined area it's expected that the pair will continue the bullish corrective direction therefore it's expected that the pair will rise and also will target the resistance level 0.9647 which represents 38.2% Fibonacci retracement correction level for the bullish direction and although yesterday's pair trying to break this level but it wasn't able to be stabile above it but the pair stability above this level which will force the pair to continue the corrective direction till reaching the new resistance level 0.9709 which represents 50.0% Fibonacci retracement correction level and the stability of the pair above this level which will force the pair to target the resistance level 0.9771 which represents 61.8% from the same previous mentioned Fibonacci retracement correction levels.
But this depends on closing the pair a good close above the resistance level 0.9647 which represents 38.2% from the same previous mentioned Fibonacci retracement correction levels.
Res: 0.9672 0.9729 0.9764
Pivot: 0.9637
Sup: 0.9580 0.9545 0.9488
AUD/USD
The AUD/USD pair was able to trade under the expected support level 1.0770 and 23.6% correction level for the bullish move from 0.9706 to 1.1011, approaching 38.2% correction level as was expected to reflect up from this level retesting 1.0770 level currently with facing the moving average (50), in case the pair tends to continue the bearish direction it's expected to reach 50% correction level around 1.0513 price, which depends on the stability of 1.0770 level with the moving average (50), but in case the pair tends to continue the main bullish movement that will be confirmed by trading above 1.0770 again, it will target the retesting of 1.1011 level which if broke the pair will target 1.1050 level.
Res: 1.0844 1.0883 1.0957
Pivot: 1.0770
Sup: 1.0731 1.0657 1.0618
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section.
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For Middle East Clients !! Enjoy GIGFX Latest Offer..
A New Addition to Forex World
GIGFX added 3 new currencies to its major currencies basket
Saudi Riyal... Emirates Dirham... Egyptian Pound
http://www.gigfx.com/node/406
Trade Forex with your local currency & not only in dollars !!
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Thursday 12th of May 2011 GIGFX Technical Analysis Report
EUR/USD
The pair is still declining for short and medium-term as it succeeded yesterday to break the level 1.4320 with stability below it during the whole Asian session forming a Flag pattern that continues the bearish direction, so it is expected that the pair will continue declining during today's intraday levels targeting the support level 1.4085 as the first target of the formed pattern followed by the support level 1.3985.
The stability of these expectations requires the stability of the resistance level 1.4320.
Res: 1.4352 1.4513 1.4603
Pivot: 1.4262
Sup: 1.4101 1.4011 1.3850
GBP/ USD
It is noticed through this chart that the pair rose to re-test the neckline of the head and shoulders pattern and formed a top at the testing area, this top forced the pair to decline again supported by rising the U.S dollar against all of its counterparts, it is expected that the pair may continue declining till reaches the target of the pattern at 1.6166 but under the condition of breaking the support level 1.6320.
The stability of these expectations requires the stability of the resistance level 1.6455.
Res: 1.6467 1.6589 1.6662
Pivot: 1.6394
Sup: 1.6272 1.6199 1.6077
USD/CHF
After the pair broke out the bearish channel and broke the resistance level 0.8797, it is expected that the pair will continue rising targeting the resistance level 0.8938 which represents the target of breaking out of the bearish channel and also coincides with testing the bearish trendline for the short-term.
The stability of these expectations requires the stability of the pair below the support level 0.8797.
Res: 0.8913 0.8949 0.9014
Pivot: 0.8848
Sup: 0.8812 0.8747 0.8711
USD/CAD
As noticed in the chart; after declining the pair for the medium and short-terms,the pair tried to correct the bearish directionduring the intraday trades whereas yesterday it broke the resistance level 0.9568 which represents 23.6% Fibonacci retracement correction level and the breaking of this level gives the chance of targeting the resistance level at 0.9646 which represents 38.2% from the same previous Fibonacci retracement correction level and the stability above this level shall lead the pair to target the resistance level 0.9707 which represents 50.0% Fibonacci retracement correction level then the resistance level 0.9770 which represents 68.8%.
This expectation depends on closing the pair a good close above the resistance level 0.9646 which represents 38.2% Fibonacci retracement correction level.
Res: 0.9665 0.9713 0.9790
Pivot: 0.9588
Sup: 0.9540 0.9463 0.9415
AUD/USD
The AUD/USD pair was able to form a bearish top during the previous short trades to push the pair down trading around 1.0580 forming (1.2.3) bearish pattern that suppose to target 1.0415 level after the pair pass down 1.0580 level, but in case this level held as a support level during the upcoming intraday trades; the pair may rise again to retest 1.0888 level.
Res: 1.0835 1.0973 1.1059
Pivot: 1.0749
Sup: 1.0611 1.0525 1.0387
Clients of GIGFX who has a real account can be able to see FULL Version for all 16 Currencies in member area section.
Let GIGFX Facebook Page Follow you..
http://www.facebook.com/pages/GiGFX/119304...=app_7146470109
For Middle East Clients !! Enjoy GIGFX Latest Offer..
A New Addition to Forex World
GIGFX added 3 new currencies to its major currencies basket
Saudi Riyal... Emirates Dirham... Egyptian Pound
http://www.gigfx.com/node/406
Trade Forex with your local currency & not only in dollars !!
]FreeImageHosting.net