GIGFX Daily Economic Analysis - page 9
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Monday 6th of June 2011 GIGFX Technical Analysis Report
EUR/USD
As was expected the EUR/USD pair rose previously to pass 61.8% correction level for the bearish move from 1.4939 to 1.3969 , this bullish move came after the pair was able to stable above 50% level, which makes the next target for the pair is the level 76.4% around 1.4710 price, and that depends on the stability of 61.8% correction level, as if the pair was able to trade under this level it will fall retesting 50% correction level around 1.4455 price.
Res: 1.4700 1.4766 1.4890
Pivot: 1.4576
Sup: 1.4510 1.4386 1.4320
Wednesday 8th of June 2011 GIGFX Technical Analysis Report
EUR/USD
As was expected the EUR/USD pair rose previously to pass 61.8% correction level for the bearish move from 1.4939 to 1.3969 , this bullish move came after the pair was able to stable above 50% level, which makes the next target for the pair is the level 76.4% around 1.4710 price, and that depends on the stability of 61.8% correction level, as if the pair was able to trade under this level it will fall retesting 50% correction level around 1.4455 price.
Res: 1.4736 1.4782 1.4868
Pivot: 1.4650
Sup: 1.46041.4518 1.4472
Thursday 9th of June 2011 GIGFX Technical Analysis Report
EUR/USD
Observing the EUR/USD pair, the last bullish move was supported by a bullish trend line for the last medium and long trades which the pair was able to retest it during the previous short period, if the pair tends to continue rising it must pass 76.4% correction level for the last bearish move from 1.4940 to 1.3970 around 1.4711 price, which will push up the pair to target 1.4825 resistance , but in case 76.4% level held as a resistance; it will push the pair down to retest 61.8% support around 1.4570 price, and if the pair was able to trade below this level it will target 1.4455 level coinciding with 50% correction level.
Res: 1.4664 1.4745 1.4795
Pivot: 1.4614
Sup: 1.4533 1.4483 1.4402
Friday 10th of June 2011 GIGFX Technical Analysis Report
EUR/USD
Observing the EUR/USD pair, the last bullish move stopped pushing the pair to fall breakingthe bullish trend line for the last medium and long trades after the pair was able to form the head and shoulder pattern during yesterday trades, to reflect the bullish movement breaking the pattern neck line targeting 1.4420 level as the pattern target coinciding with 38.2% correction level for the bullish move from 1.3969 to 1.4696 with a chance that the pair may retest 23.6% correction level, but in case the pair was able to pass 23.6% level it will continue rising in order to retest the nearest resistance as 1.4650 level.
Res: 1.4614 1.4718 1.4786
Pivot: 1.4546
Sup: 1.4442 1.4374 1.4270
Monday 13th of June 2011 GIGFX Technical Analysis Report
EUR/USD
As was expected for the EUR/USD pair, the pair fell previously to pass the expected target for the head and shoulders pattern at 1.4420 level that coincided 38.2% correction level for the bullish move from 1.3969 to 1.4696 to reach 50% level with the past week close around 1.4332, as if the pair tends to continue falling; it must pass 50% level to target then 61.8% level around 1.4246 price, but if the pair traded above 32.8% level, it will be pushed to retest 23.6% level around 1.4524 price.
Res: 1.4492 1.4634 1.4719
Pivot: 1.4407
Sup: 1.4265 1.4180 1.4038
Wednesday 15th of June 2011 GIGFX Technical Analysis Report
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
Thursday 16th of June 2011 GIGFX Technical Analysis Report
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
Friday 17th of June 2011 GIGFX Technical Analysis Report
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
Tuesday 21st of June 2011 GIGFX Technical Analysis Report
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