GIGFX Daily Economic Analysis - page 15
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Thursday 17th of March 2011 GIGFX Daily Technical Analysis Report
EUR/USD
During yesterday trades, the pair failed to break the resistance level 1.4003 which represents the point B of the harmonic pattern AB=CD that is still in the forming stage to form a new top at this level and it is the second consecutive top at this level. This provides one of the conditions of the existing of a double bottom pattern that reflects the uptrend into downtrend, and the bottom of this pattern is at the support level 1.3855.
If the pair succeeded to break the resistance level 1.4003, it will continue forming the CD rib of the harmonic pattern which targets to reach the level 1.4110 which represents the point D that completes the harmonic pattern. But if the pair broke the support level 1.3855 means that the second condition of the existing of a reversal pattern is achieved then the pair will continue declining targeting the support level 1.3750 initially.
Res: 1.3992 1.4064 1.4127
Pivot: 1.3929
Sup: 1.3857 1.3794 1.3722
GBP/ USD
The trades of the pair are still confused and volatile between rising and declining suggesting to form a harmonic pattern AB=CD and now it is moving in the range of the last wave of the pattern CD which is supposed to target the support level 1.5915 during today's trades but under the condition of breaking the support level 1.5985 which represents the point B of the pattern with stability below.
The stability of these expectations requires the stability of the resistance level 1.6095.
Res: 1.6097 1.6186 1.6242
Pivot: 1.6041
Sup: 1.5952 1.5896 1.5807
USD/CHF
The pair continued registering new records where reached the lowest price at the level 0.8915 during yesterday trades, as it was expected through yesterday report, the pair formed a bearish top at the resistance level 0.9201 and used this top to continue declining. Also the pair formed a bearish bottom at the level 0.8915 and used it to rise during the last intraday trades targeting to re-test the nearest resistance levels in order to form a new bearish top that is expected to be between the levels 0.9035 and 0.9099, the pair will use this top to decline again to continue forming the bearish direction targeting to reach the level 0.8790 but under the condition of breaking the level 0.8915 with stability below.
Res: 0.9148 0.9312 0.9429
Pivot: 0.9031
Sup: 0.8867 0.8750 0.8586
USD/CAD
As noticed in the chart, after the previous days trades during the for the medium-term the pair was trading inside the bullish channel but from the expected that during the intraday trades the pair will decline to test the support level 0.9887 which represents the bottom border for the bullish channel and if the pair is able to break this level, so it will target the support level 0.9841.
But it's possible that the pair will try to retest the resistance level 0.9966 which is the top level that the pair achieved during yesterday trades.
Res: 0.9985 1.0055 1.0145
Pivot: 0.9895
Sup: 0.9825 0.9735 0.9665
AUD/USD
The bearish direction is still dominating the pair trades, whereas a new bearish top has been formed during yesterday trades at the resistance level 0.9965 which pushed the pair down again breaking the support level 0.9849 as what was expected in yesterday report, the bearish move continued till the pair achieved the lowest price for yesterday trades at 0.9715, during the last trades the pair rose from the formed bottom at the level 0.9715 trying to retest the level 0.9849 which became the resistance level after breaking it down.
It is expected to form a new bearish top at this level which will push the pair down to continue forming the bearish direction till reaching the support level 0.9658.
But to reach this level; the level 0.9715 must be broken with a good close below it.
Res: 0.9879 1.0043 1.0125
Pivot: 0.9797
Sup: 0.9633 0.9551 0.9387
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..
GiGFX | Facebook
Bonus Opportunity!!
Get 25$ bonus account without deposit..For more info, please visit:http://gigfx.com/node/3889
Friday 18-03-2011 Technical Analysis Report
EUR/USD
During yesterday trades, the pair failed to break the resistance level 1.4003 which represents the point B of the harmonic pattern AB=CD that is still in the forming stage to form a new top at this level and it is the second consecutive top at this level. This provides one of the conditions of the existing of a double bottom pattern that reflects the uptrend into downtrend, and the bottom of this pattern is at the support level 1.3855.
If the pair succeeded to break the resistance level 1.4003, it will continue forming the CD rib of the harmonic pattern which targets to reach the level 1.4110 which represents the point D that completes the harmonic pattern. But if the pair broke the support level 1.3855 means that the second condition of the existing of a reversal pattern is achieved then the pair will continue declining targeting the support level 1.3750 initially.
Res: 1.4090 1.4164 1.4274
Pivot: 1.3979
Sup: 1.3906 1.3794 1.3722
GBP/ USD
The trades of the pair are still confused and volatile between rising and declining suggesting to form a harmonic pattern AB=CD and now it is moving in the range of the last wave of the pattern CD which is supposed to target the support level 1.5915 during today's trades but under the condition of breaking the support level 1.5985 which represents the point B of the pattern with stability below.
The stability of these expectations requires the stability of the resistance level 1.6095.
Res: 1.6217 1.6291 1.6415
Pivot: 1.6093
Sup: 1.6019 1.5896 1.5821
USD/CHF
The pair continued registering new records where reached the lowest price at the level 0.8915 during yesterday trades, as it was expected through yesterday report, the pair formed a bearish top at the resistance level 0.9201 and used this top to continue declining. Also the pair formed a bearish bottom at the level 0.8915 and used it to rise during the last intraday trades targeting to re-test the nearest resistance levels in order to form a new bearish top that is expected to be between the levels 0.9035 and 0.9099, the pair will use this top to decline again to continue forming the bearish direction targeting to reach the level 0.8790 but under the condition of breaking the level 0.8915 with stability below.
Res: 0.9048 0.9097 0.9129
Pivot: 0.9003
Sup: 0.8947 0.8909 0.8853
USD/CAD
As noticed in the chart, after the previous days trades during the for the medium-term the pair was trading inside the bullish channel but from the expected that during the intraday trades the pair will decline to test the support level 0.9887 which represents the bottom border for the bullish channel and if the pair is able to break this level, so it will target the support level 0.9841.
But it's possible that the pair will try to retest the resistance level 0.9966 which is the top level that the pair achieved during yesterday trades.
Res: 0.9921 0.9989 1.0033
Pivot: 0.9877
Sup: 0.9809 0.9765 0.9697
AUD/USD
The bearish direction is still dominating the pair trades, whereas a new bearish top has been formed during yesterday trades at the resistance level 0.9965 which pushed the pair down again breaking the support level 0.9849 as what was expected in yesterday report, the bearish move continued till the pair achieved the lowest price for yesterday trades at 0.9715, during the last trades the pair rose from the formed bottom at the level 0.9715 trying to retest the level 0.9849 which became the resistance level after breaking it down.
It is expected to form a new bearish top at this level which will push the pair down to continue forming the bearish direction till reaching the support level 0.9658.
But to reach this level; the level 0.9715 must be broken with a good close below it.
Res: 0.9884 0.9961 1.0051
Pivot: 0.9794
Sup: 0.9717 0.9627 0.9550
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/...app_7146470109
Bonus Opportunity!!
Hit this link and get benefit from GIGFX's newest promotion...
http://www.gigfx.com/node/854
Wednesday 02-03-2011 GIGFX's Technical Analysis Report
Wednesday 2-3-2011 GIGFX's Technical Analysis Report
EUR/USD
During yesterday trades, the pair failed to break the important key resistance 1.3860 where it formed a top around this level and used it to push declining breaking the bullish trendline for the near and medium-term, this line represents the bottom boarder of the bullish wedge pattern that shifts the direction, so that, the pair is supposed to continue its corrective bearish direction targeting the level 1.3591 which represents the target of the bullish wedge pattern and also represents 61.8% Fibonacci's retracement correction level for the bullish move (from 1.3428 to 1.3855). But in order to reach this level, the pair should break the support level 1.3754 that the current trades are around where, a positive divergence is noticed for the bullish direction that may push the pair up if a bottom has been formed at, and in this case the pair will rise trying to test the key resistance 1.3860.
Res: 1.3831 1.3887 1.3921
Pivot: 1.3797
Sup: 1.3741 1.3707 1.3651
GBP/ USD
The bullish direction is still dominating the price action of the pair for the near-term trades and the intraday levels whereas, the pair rose yesterday to test the key resistance 1.6330 from which it reflected down with expectations of more rising, and what confirms this expectations is breaking the price to the simple moving average index 50 and trading above it till now, the pair now is in its way to test the support level 1.6195 which performs as the mentioned simple moving average index 50, and also the appearance of the positive divergence on the stochastic index below the chart, this divergence indicates that the pair may rise during today's intraday trades.
Moving the pair up will target the key resistance 1.6330 as the first target of this bullish wave then it will target the key resistance 1.6410.
The stability of these expectations requires the stability of the support level 1.6195.
Res: 1.6312 1.6358 1.6389
Pivot: 1.6281
Sup: 1.6235 1.6204 1.6158
USD/CHF
The pair is still soaring during the last near-term trades using the formed bottom at the support level 0.9233 whereas, the pair succeeded to break the top boarder of the bearish channel declaring the first reflective signals for the bearish direction, a stronger signal is remained and it is by breaking up the key resistance 0.9235 then, the pair will continue forming a corrective bullish direction targeting the level 0.9361 which represents 23.6% Fibonacci's correction level for the downtrend (from 0.9774 to 0.9233), then the pair will target the level 0.9440 which represents 38.2% Fibonacci's correction level for the same mentioned downtrend and also represents the final target of breaking out this bearish channel.
The stability of these expectations requires the stability of the support level 0.9233.
Res: 0.9311 0.9340 0.9359
Pivot: 0.9292
Sup: 0.9263 0.9244 0.9215
USD/CAD
As noticed in the chart, the pair dropped yesterday to its lowest level since 2007 and a hummer shaped candle has been formed at the level 0.9686 and this is a signal for the pair rising during the intraday trades and it will target the resistance level 0.9788 which represents 23.6% Fibonacci retracement correction level for the last bearish wave and if it will be able to stable above this level, the pair will continue rising till targeting the resistance level 0.9821 which represents 50% from the previous mentioned Fibonacci retracement correction level.
But with breaking the support level 0.9747 and the stability below it, the pair will target the support level 0.9686 again.
Res: 0.9770 0.9797 0.9841
Pivot: 0.9726
Sup: 0.9699 0.9655 0.9628
AUD/USD
The pair was not able to break the resistance level 1.0206 which represents 127% Fibonacci retracement correction level for the bearish direction ( from 1.0155 to 0.9965 ) it was the first signal for the pair declining which was confirmed yesterday with breaking the support level 1.0155 down and also breaking the previous broken bearish trendline up which means that the pair will be able to continue forming the corrective bearish direction for the last bullish wave, the pair is trading now nearest the support level 1.0082 which represents 50% Fibonacci retracement correction level for the bullish direction ( from 0.9965 to 1.0200 ) it's expected with breaking this level the pair will continue declining reaching the level 1.0020 which represents 76.4% Fibonacci retracement correction level for the previous mentioned bullish direction.
This expectation depends on the stability of the resistance level 1.0145
Res: 1.0179 1.0228 1.0256
Pivot: 1.0151
Sup: 1.0102 1.0074 1.0025
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
Bonus Opportunity!!
Hit this link and get benefit from GIGFX's newest promotion...
http://www.gigfx.com/node/854
Thursday 3-3-2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected through yesterday's report, the pair formed a bottom at the support level 1.3750 and used it to push upside till reached the important key resistance 1.3860 again, the appearance of a positive divergence from the RSI index, that continues the bullish move was confirm this scenario. At the last intraday trades, the pair was trading around this important key resistance and if the pair was able to break it completely with good close above, the pair will continue rise targeting to reach the level 1.3977 which represents 127% fibonacci's retracement continuous level for the bearish move from 1.3860 to 1.3428.
The stability of these expectations requires the stability of the support level 1.3750.
Res: 1.3921 1.3979 1.4068
Pivot: 1.3832
Sup: 1.3774 1.3685 1.3627
GBP/ USD
As it was expected through yesterday's report, the pair rose upside targeting the key resistance 1.6330 using the formed bottom that has been formed at the support level 1.6215 to begin its rising starting with that level, forming AB=CD harmonic pattern for the near-term, and now it is in the final stage of forming the last wave CD expecting more rising during today's intraday trades targeting the key resistance 1.6410 as the first target followed by the key resistance 1.6510 which represents the point D and the end of the formed harmonic pattern.
The condition of confirming this scenario is to break the key resistance 1.6330 which represents the point B with stability above.
The stability of these expectations requires the stability of the support level 1.6215.
Res: 1.6372 1.6421 1.6500
Pivot: 1.6293
Sup: 1.6244 1.6165 1.6116
USD/CHF
During yesterday trades, the pair achieved a new record by reaching the level 0.9202 which represents 127% Fibonacci's continuous level for the bullish move from 0.9325 to 0.9774, this new move has been indicated by a bullish move for the stochastic index and this means an appearance of a positive divergence that shifts the downtrend into uptrend, so with the stability of the level 0.9202 the price will respond to the divergence that will be confirmed by breaking the resistance level 0.9270 upward there, the pair will continue rise targeting to reach the resistance level 0.9325 again. If the pair succeeded to break the level 0.9202 it will ignore the reflective signals targeting to reach the next support level 0.9046 which represents 161.8% Fibonacci's continuous level for the same mentioned uptrend.
Res: 0.9283 0.9331 0.9372
Pivot: 0.9242
Sup: 0.9194 0.9153 0.9105
USD/CAD
The pair formed a harmonic pattern during the long-term trades which the pair began it from the A point at the level 1.0216 since the end of the last year, the pair has taken the bearish move by forming a harmonic pattern till it settled at the D point at the level 0.9667.
Therefore it's expected for the pair during the intraday trades to take the corrective side which is the bullish direction until testing the resistance level 0.9836 which represents the B point.
This expectation depends on the stability of the support level 0.9667 which represents the D point.
Res: 1.6208 1.6282 1.6336
Pivot: 1.6154
Sup: 1.6080 1.6026 1.5952
AUD/USD
The pair has formed a bottom at the borders of the level 1.0082 which represents 50% Fibonacci retracement correction level for the bullish direction ( from 0.9965 to 1.0200 ), this bottom returned again the bullish move for the pair and it's expected that this bottom had came to draw a bullish trendline for the medium and the short-terms, remaining the effectiveness of this line will be continued with breaking the resistance level 1.0200 which with breaking it up means continuing the bullish move till the level 1.0271 which represents 161.8% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 1.0085 ).
This expectation depends on the stability of the support level 1.0082.
Res: 1.0203 1.0239 1.0298
Pivot: 1.0144
Sup: 1.0108 1.0049 1.0013
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/...app_7146470109
Bonus Opportunity!!
Hit this link and get benefit from GIGFX's newest promotion...
http://www.gigfx.com/node/854
Monday 7th of March 2011 Technical Analysis Report
EUR/USD
The European currency continued rising against the U.S. dollar whereas the pair hits fresh 3-month high by reaching the level 1.4008, this bullish move was formed through moving inside a bullish channel for the short and medium-term, the resistance area between the level 1.4008 and the level 1.3978 which represents 127% Fibonacci continuous level for the downtrend (from 1.3861 to 1.3428) coincides with the top boarder of the bullish channel to form a bullish top with the appearance of reflective candles that provides a probability of corrective bearish move during the upcoming trades targeting to re-test the support level 1.3861 but under the condition of holding the resistance level 1.4008 steady, which with its breaking with good close above then the pair will rise targeting to reach the resistance level 1.4129 which represents 161.8% Fibonacci continuous level for the same mentioned downtrend.
Res: 1.4016 1.4063 1.4155
Pivot: 1.3924
Sup: 1.3877 1.3785 1.3738
GBP/ USD
The pair failed to achieve more gains while moving upside during the trades of the last week forming a reversal pattern (head and shoulders pattern) on the near-term trades, but it is necessary to break the neckline of the pattern at the support level 1.6240, it is expected after this breaking that the pair will decline targeting the support level 1.6180 as the first target of this declining which represents 50% Fibonacci correction level for the last bullish wave for the medium-term followed by the support level 1.6120.
The stability of these expectations requires the stability of the key resistance 1.6290.
Res: 1.6321 1.6366 1.6400
Pivot: 1.6287
SuP: 1.6242 1.6208 1.6163
USD/CHF
Through this chart it is noticed that the pair is forming a rectangle pattern that continues the direction after breaking one of its boarders, the resistance level 0.9325 represents the top boarder of the pattern and the area between the support level 0.9230 and the level 0.9201 represents the bottom boarder of the pattern, the pattern came within a downtrend so with breaking the bottom boarder, the pair will continue declining targeting the level 0.9105 which represents the target of this pattern in this bearish case, but if the pair succeeded to break the top boarder it will be a reflective pattern and will shift the direction of the pair into bullish direction targeting to reach the level 0.9420 which represents 38.2% Fibonacci's correction level for the downtrend (from 0.9774 to 0.9201).
Res: 0.9350 0.9385 0.9444
Pivot: 0.9291
Sup: 0.9256 0.9197 0.9162
USD/CAD
The pair is moving in a very narrow domain for the short-term trades and for the intraday levels whereas the pair is limited between the resistance level 0.9740 and the support level 0.9715 with the expectations on continuing these narrow trades during the intraday levels with tending the pair to rise, if the pair is able to break the resistance level 0.9740 with a good close above it therefore for the expected that the pair will target the resistance level 0.9766.
But in case of breaking the support level 0.9715 and the stability below it, the pair will target the support level 0.9682.
Res: 0.974 0.9763 0.9776
Pivot: 0.9727
Sup: 0.9704 0.9691 0.9668
AUD/USD
It's noticed in the chart that the pair is in process of forming a continuous pattern for the bullish direction which is the bullish flag pattern, forming this pattern came to confirm the ability of the pair on continuing forming the bullish direction for the medium-term, therefore it's expected during the next trades that the pair will break the top border for the flag which is expected to coincide at it the price with the resistance level 1.0152, breaking this area will push the pair to continue rising towards the targeted area for the pattern which is located between the level 1.0277 which represents 161.8% Fibonacci retracement correction level for the bearish direction ( from 1.0200 to 1.0075 ) and the level 1.0295, reaching this area; the resistance level 1.0200 also must be broken with a good close above it.
This expectation depends on the stability of the support level 1.0075.
Res: 1.0178 1.0213 1.0240
Pivot: 1.0151
Sup: 1.0116 1.0089 1.0054
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/...app_7146470109
Bonus Opportunity!!
Hit this link and get benefit from GIGFX's newest promotion...
http://www.gigfx.com/node/854
Tuseday 01-03-2011 GIGFX Technical Analysis Report
EUR/USD
The bullish direction is still dominating the price action of the pair for the short, medium and long-term, whereas as noticed through this chart, the pair is forming a bullish trendline for the near and medium-term that confirms the bullish strength so, it is expected that the pair will continue forming bullish direction but under the condition of breaking the key resistance 1.3860 which performs as an important key resistance, holding steady above this level means the continuation of the pair's bullish direction targeting the level 1.3977 which represents 127% Fibonacci's continuous level for the downtrend (from 1.3860 to 1.3428).
The stability of these expectations requires the stability of the support level 1.3758.
RES: 1.3870 1.3934 1.4014
PIVOT: 1.3790
SUP: 1.3726 1.3646 1.3582
GBP/USD
The pair had a strong move rising yesterday that resulted by retreating the U.S. dollar index to its lowest price since the last 20 weeks which led to achieve gains for the most of the other major currencies against the U.S dollar and also led the pair to test the important key resistance 1.6275, this led the pair to form a harmonic pattern AB=CD in the forming stage, and the key resistance 1.6275 represents the point B for the harmonic pattern which with its breaking during today's trades, the pair will target to continue forming this pattern by reaching the key resistance 1.6245 which represents the point D and the end of this harmonic pattern.
The stability of these expectations requires the stability of the support level 1.6150.
RES: 1.6329 1.6403 1.6532
PIVOT: 1.6200
SUP: 1.6126 1.5997 1.5923
USD/CHF
The pair is still soaring during the last near-term trades using the formed bottom at the support level 0.9233 whereas, the pair succeeded to break the top boarder of the bearish channel declaring the first reflective signals for the bearish direction, a stronger signal is remained and it is by breaking up the key resistance 0.9235 then, the pair will continue forming a corrective bullish direction targeting the level 0.9361 which represents 23.6% Fibonacci's correction level for the downtrend (from 0.9774 to 0.9233), then the pair will target the level 0.9440 which represents 38.2% Fibonacci's correction level for the same mentioned downtrend and also represents the final target of breaking out this bearish channel.
The stability of these expectations requires the stability of the support level 0.9233.
RES: 0.9307 0.9327 0.9351
PIVOT: 0.9283
SUP: 0.6263 0.9239 0.9219
USD/CAD
After the pair continued retreating during the last days, it is now between the key resistance 0.9739 and the support level 0.9688 after declining the U.S dollar 3.0% during this month against the Canadian dollar and declining the pair to the second lowest price recorded since 2007.
It is expected that, the pair will continue retreating during today's trades targeting the support level 0.9658 but under the condition of breaking the support level 0.9688 with stability below.
But if the pair was unable to do so, it will target the key resistance 0.9739 and if the pair succeeded to be stable above this level, it will target the key resistance 0.9764.
RES: 0.9764 0.9814 0.9842
PIVOT: 0.9736
SUP: 0.9686 0.9658 0.9608
AUD/USD
The pair was able to achieve the highest price at 1.0200 during the Asian market that represents 127% continuous level for the bearish move from 1.0155 to 0.9965 forming a top at this level that pushed the pair down around the support level 1.0155 that coincides retesting the bearish trend line for the long periods, which was broken before, and it is expected that the pair will form a bottom at this level in order to use it to rise again targeting 1.0206 which with breaking it up the pair will rise again to the next resistance level at 1.0272 that represents 161.8% continuous level for the same mentioned bearish move.
This analyze requires the stability of the support level 1.0120.
RES: 1.0210 1.0236 1.0281
PIVOT: 1.0165
SUP: 1.0139 1.0094 1.0068
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
Bonus Opportunity!!
Get 25$ bonus account without deposit..
For more info, please visit: http://gigfx.com/node/3889