GIGFX Technical Analysis Report For Majors (Updated Daily) - page 14

 

EUR/USD

After the EUR/USD pair fell previously to reach 50% correction level for the bullish move from 1.3969 to 1.4696 the pair rose facing 38.2% level during the current trades around 1.4420 price, as the (RSI) indicator viewed oversold signal, which supports the pair rising to target 23.6% level around 1.4524 price, which requires the price stability above 38.2% level, as if the pair traded below this level it will fall again to target 50% level around 1.4332 price in order to retest it.

Res: 1.4455 1.4496 1.4563

Pivot: 1.4388

Sup: 1.4347 1.4280 1.4239

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EUR/USD

After the EUR/USD pairrose previously to approaching 23.6% correction level for the bullish move from 1.3969 to 1.4696, to fall from this level during the previous short trades passing 38.2% level, which makes 50% level the pair next target represented by 50% correction level, and if the pair was able to break down this level it will target 61.8% level around 1.4246 price, but if 1.4332 level held it will push the pair to rise in order to retest 1.4420 level and 1.4524 represented by 38.2% and 23.6% correction levels.

Res: 1.4498 1.4556 1.4616

Pivot: 1.4438

Sup: 1.4380 1.4320 1.4262

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EUR/USD

After the EUR/USD pairfell previously to form a bearish wave (1.2.3) that pushed down the pair to target 1.4120 level that coincided with 76.4% correction level correction level for the bullish move from 1.3969 to 1.4696, as if the pair was able to hold below this level; it will continue falling targeting 1.4035 support level, but trading above this level will push the pair to rise in order to retest one of the resistance levels such as 1.4332 level represented by 50% correction level.

Res: 1.4367 1.4555 1.4661

Pivot: 1.4261

Sup: 1.4073 1.3967 1.3779

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EUR/USD

After the EUR/USD pairfell previously to form a bottom at 1.4072 support level, to rise form this level reaching 1.4222 resistance level, as the pair direction will be determined by breaking one of these levels, as if the pair breaks 1.4222 level it will rise targeting 1.4367 level coinciding with 50%correction level for the bullish move from 1.3969 to 1.4696, but if the pair was able to break down 1.4072 support it will fall targeting 1.3935 level.

Res: 1.4256 1.4308 1.4399

Pivot: 1.4165

Sup: 1.4113 1.4022 1.3970

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Monday 20th of June 2011 GIGFX Technical Analysis Report

EUR/USD

The EUR/USD pair rose previously to retest the bearish trend line for the medium trades, forming the bearish harmonic pattern (AB=CD) which supposed to target 1.3913 level as the (D) point for the pattern, but in order to achieve that target 1.4325 resistance must held as the (C) point for the pattern and 1.4073 level must be broken as the (B) point for the pattern, but in case the pair tends to rise it must break the (C) point to rise targeting 1.4495 resistance in order to retest it.

Res: 1.4452 1.4540 1.4639

Pivot: 1.4353

Sup: 1.4265 1.4166 1.4078

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EUR/USD

The EUR/USD pair rose previously to reach 50% correction level for the last bearish move from 1.4696 to 1.4074, around 1.4385 price, this came as a result for the news about the possibility of helping Greece solving its economic crisis, which supported the EUR with Investor optimism, as it is expected with breaking the current resistance, that the pair will continue rising targeting 1.4460 level, but in case 1.4385 level held it will push the pair to fall retesting 1.4310 represented by 38.2% level.

Res: 1.4356 1.4409 1.4492

Pivot: 1.4273

Sup: 1.4220 1.4137 1.4084

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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

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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

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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

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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

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