GIGFX Daily Economic Analysis - page 22
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Friday october 21st 2011 GIGFX Technical Analysis Report
EUR/USD
The pair was moving volatile during the last mid-term trades tending to decline for near-term trades, as it succeeded to form the triangle pattern that the pair now is testing its top border and if the top border held the pair will decline targeting the level 1.3657 which coincides with the bottom border of the triangle pattern which if the pair broke it with breaking the level 1.3621 which represents 38.2% of fibonacci's correction level for the bullish wave (from 1.3146 to 1.3914) the pair will target the next support level at 1.3530 which represents 50.0% of fibonacci's correction level followed by 1.3439 which represents 61.8% of fibonacci's correction level, but if the pair broke the top border of the pattern it will rise targeting to test the resistance area from 1.3870 to 1.3914.
Res: 1.3861 1.3944 1.4046
Pivot: 1.3759
Sup: 1.3676 1.3574 1.3491
AUD/USD
The pair rose to re-test the level 1.0290 and during the mid-term trades it formed a symmetric triangle pattern, it is expected that the pair will continue declining by breaking the bottom border of the mentioned pattern reaching the level 0.9995 which represents 38.2% of fibonacci's correction level for the last bullish wave (0.9390 to 1.0370) -this is the target of breaking the bullish channel- but under the condition of breaking the level 1.0140 which represents 23.6% of fibonacci's correction level for the last bullish wave.
The stability of these expectations requires the stability of the resistance level 1.0290.
Res: 1.0303 1.0375 1.0453
Pivot: 1.0225
Sup: 1.0153 1.0075 1.0005
Monday october 24th 2011 GIGFX Technical Analysis Report
EUR/USD
The positive news that came from the European leaders about the solutions of the European dept crisis pushed the European currency against the U.S. dollar to end the trades of the last week bullish, at the beginning of this week trades, the pair is trying to continue its bullish move by breaking the resistance important level 1.3914 during the current trades, breaking this level means more rising till the next resistance level at 1.3984 followed by the level 1.4075 which represents 161.8% of Fibonacci's continuous level for the bearish move (From 1.3914 to 1.3653).
The stability of these expectations requires the stability of the support level 1.3870.
Res: 1.3964 1.4031 1.4161
Pivot: 1.3834
Sup: 1.3767 1.3570
AUD/USD
The AUD\USD pair succeeded to break the level 1.0350 which represents the top border of the triangle pattern after it failed to break the level 1.0140 which represents the bottom border of the same pattern which led the pair to rise to break the pattern by reaching the level 1.0430 which represents the first target of breaking the pattern, it is expected that the pair will continue rising to the level 1.0575 and it is the second target of breaking the pattern but under the condition of breaking the level 1.0470.
The stability of these expectations requires the stability of the support level 1.0350.
Res: 1.0408 1.0467 1.0569
Pivot: 1.0306
Sup: 1.0247 1.0145 1.0086
Tuesday october 25th 2011 GIGFX Technical Analysis Report
EUR/USD
The bullish direction is still dominating the trades of the pair for the near and mid-term trades; this rise is supported by approaching to find solutions to resolve Greece's dept crisis, the pair is still confirming breaking the resistance level 1.3914 which still holding till now against the pair's rising which target to reach the level 1.4075 which represents 161.8% of fibonacci's continuous level for the bearish move (From 1.3914 to 1.3653).
The stability of these expectations requires the stability of the support level 1.3850.
Res: 1.3982 1.4035 1.4115
Pivot: 1.3902
Sup: 1.3849 1.3769 1.3716
AUD/USD
As it was expected through yesterday analysis, the pair rose to the level 1.0470 which represents the first target of breaking the top border of the triangle pattern after the pair declined and re-tested the near support level at 1.0360, it is expected that the pair will continue rising targeting the level 1.0585 which represents the target of breaking the mentioned pattern but under the condition of breaking the level 1.0470.
The stability of these expectations requires the stability of the support level 1.0360.
Res: 1.0545 1.0616 1.0730
Pivot: 1.0431
Sup: 1.0360 1.0246 1.0175
Wednesday October 26th 2011 GIGFX Technical Analysis Report
EUR/USD
The trades of the pair were in a narrow range that reflects the collecting process of the momentum that the pair will use it to determine the upcoming direction, it is expected that, with breaking out this range the pair will continue forming the direction, breaking the resistance level 1.3955 upside means more rising targeting the level 1.4075 which represents 161.8% of fibonacci's continuous level for the bearish wave (From 1.3914 to 1.3653), in the case that the pair broke the support level 1.3852 downside, it will continue declining targeting the next support level 1.3753.
Res: 1.3961 1.4014 1.4070
Pivot: 1.3905
Sup: 1.3852 1.3796 1.3743
AUD/USD
The pair failed to break the level 1.0470 which coincides with the top border of the bullish wedge pattern which led the pair to return declining again reaching the level 1.0360 which represents the bottom border of the bullish wedge pattern which may led the pair to rise trying to re-test the near resistance levels, it is expected that the pair will rise targeting the level 1.0490 which represents the top border of the bullish wedge pattern.
But if the pair broke the level 1.0360 which represents the bottom border of the pattern it will decline targeting the level 1.0235 which represents the first target of breaking the bottom border of the pattern.
The stability of these expectations requires the stability of the support level 1.0235.
Res: 1.0481 1.0537 1.0579
Pivot: 1.0439
Sup: 1.0383 1.0341 1.0285
Wednesday october 26th 2011 GIGFX Technical Analysis Report
EUR/USD
The trades of the pair were in a narrow range that reflects the collecting process of the momentum that the pair will use it to determine the upcoming direction, it is expected that, with breaking out this range the pair will continue forming the direction, breaking the resistance level 1.3955 upside means more rising targeting the level 1.4075 which represents 161.8% of fibonacci's continuous level for the bearish wave (From 1.3914 to 1.3653), in the case that the pair broke the support level 1.3852 downside, it will continue declining targeting the next support level 1.3753.
Res: 1.3961 1.4014 1.4070
Pivot: 1.3905
Sup: 1.3852 1.3796 1.3743
AUD/USD
The pair failed to break the level 1.0470 which coincides with the top border of the bullish wedge pattern which led the pair to return declining again reaching the level 1.0360 which represents the bottom border of the bullish wedge pattern which may led the pair to rise trying to re-test the near resistance levels, it is expected that the pair will rise targeting the level 1.0490 which represents the top border of the bullish wedge pattern.
But if the pair broke the level 1.0360 which represents the bottom border of the pattern it will decline targeting the level 1.0235 which represents the first target of breaking the bottom border of the pattern.
The stability of these expectations requires the stability of the support level 1.0235.
Res: 1.0481 1.0537 1.0579
Pivot: 1.0439
Sup: 1.0383 1.0341 1.0285
Friday october 28th 2011 GIGFX Technical Analysis Report
EUR/USD
After the pair has re-tested the bottom border of the bullish channel for mid-term trades it rose from the support level 1.3852 to reach its expected targets through the last analysis reaching the resistance level 1.4223 which coincides with 76.4% of fibonacci's correction level for the bearish wave (from 1.4525 to 1.3146) coinciding with testing the top border of the bullish channel, this may led the pair to correct targeting to test the near support level which extends to the support area (from 1.4018 which represents 61.8% of fibonacci's correction level to the level 1.3960) the pair will continue rising for mid and long-term trades targeting the resistance level 1.4380.
Res: 1.4335 1.4482 1.4717
Pivot: 1.4100
Sup: 1.3953 1.3718 1.3571
AUD/USD
The pair rose to the level 1.0760 and failed to break this level which coincides with the top border of the bullish channel in which the pair is moving, which led the pair to decline again trying to re-test the near support level at 1.0640, it is expected that the pair will continue declining correctly to the level 1.0490 which coincides with the bottom border of the bullish channel but under the condition of breaking the level 1.0460.
The stability of these expectations requires the stability of the resistance level 1.0760.
Res: 1.0859 1.0990 1.1229
Pivot: 1.0620
Sup: 1.0489 1.0250 1.0119
Monday october 31st 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair formed a top at the resistance level 1.4247 which coincides with the top border of the bullish channel in which the pair is still moving for near and mid-term trades, the pair declined from this top trying to form a new bullish bottom but at the beginning of the trades of this week and after the Japanese decision to interfere to reduce its currency against the U.S. dollar we found that most of the major currencies declined against the U.S. dollar so that the Euro declined to the level 1.3917 which represents 61.8% of fibonacci's correction level for the bullish channel (from 1.3800 to 1.4247), it is expected that if the pair broke the level 1.3971 it will decline targeting the level 1.3905 which with its breaking downside and with breaking the bottom border of the channel the pair will target the next support level at 13800.
The stability of these expectations requires the stability of the resistance level 1.4076.
Res: 1.4195 1.4231 1.4262
Pivot: 1.4164
Sup: 1.4128 1.4097 1.4061
AUD/USD
The AUD/USD pair declined to the level 1.0490 as it was expected through the last analysis after it failed to break the resistance level 1.0750 which led the pair to decline breaking the level 1.0630 during the trades of the Asian session reaching the level 1.0490 which coincides with the bottom border of the bullish channel in which the pair is moving, it is expected that the pair will rise in order to re-test near resistance level at 1.0630 and with breaking this level the pair will rise targeting the level 1.0750.
The stability of these expectations requires the stability of the support level 1.0350.
Res: 1.0740 1.0773 1.0816
Pivot: 1.0697
Sup: 1.0664 1.0621 1.0588
Tuesday November 1st 2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected through the last analysis, the European currency continued declining against the U.S. dollar till the support level 1.3971 which failed to prevent the pair to decline so the pair continued declining till the next support level at 1.3905 followed by the support level 1.3800 during the last trades, if the pair reached these levels means breaking the bottom border of the bullish channel for mid-term trades so it is expected that the pair will continue declining targeting to break the bullish channel by breaking the support level 1.3524 which represents 161.8% of fibonacci's continuous level for the bullish move (From 1.3800 to 1.4247) but under the condition of breaking the support level 1.3800 and 1.3679.
The stability of these expectations requires the stability of the resistance level 1.3905.
Res: 1.4076 1.4292 1.4416
Pivot: 1.3952
Sup: 1.3736 1.3612 1.3396
AUD/USD
The AUD/USD pair rose to the level 1.0630 as it was expected yesterday, that level coincides with the bottom border of the bullish channel in which the pair is moving, the pair failed to break this resistance level which led the pair to decline again breaking the support level 1.0490 followed by breaking the top border of the bullish channel, it is expected that the pair will continue declining targeting the support level 1.0350 which represents the target of breaking the bottom border of the bullish channel.
The stability of these expectations requires the stability of the resistance level 1.0360.
Res: 1.0661 1.0793 1.0870
Pivot: 1.0584
Sup: 1.0452 1.0375 1.0243
Wednesday November 2nd 2011 GIGFX Technical Analysis Report
EUR/USD
The European currency continued declining against the U.S. dollar as it was expected through the last analysis breaking the level 1.3800 achieving the lowest price for yesterday trades at the level 1.3608, the pair formed a bottom at this level during the last intraday trades trying to correct its declining and it is expected that the pair will test the level 1.3800 which became a resistance level to form a bearish top that will push the pair to decline to re-test the level 1.3608, breaking this level downside means more declining to re-test the support level 1.3524 which represents 161.8% of fibonacci's continuous level for the bullish move (From 1.3800 to 1.4247) and at the same time it is represents the target of breaking out the bullish channel.
The stability of these expectations requires the stability of the resistance level 1.3800.
Res: 1.3843 1.3987 1.4105
Pivot: 1.3725
Sup: 1.3581 1.3463 1.3319
AUD/USD
As it was expected yesterday, the pair declined to the level 1.0300 which represents the first target of breaking the bottom border of the bullish channel, the pair closed above this level which led the pair to rise again to re-test the near resistance level at 1.030, it is expected that the pair will continue declining targeting the level 1.0170 which represents the target of breaking the bullish channel but under the condition of breaking the support level 1.0300 with the probability of rising the pair correctly to the level 1.0505.
The stability of these expectations requires the stability of the resistance level 1.0505.
Res: 1.0505 1.0683 1.0801
Pivot: 1.0387
Sup: 1.0209 1.0091 0.9913
Friday November 4th 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair formed a higher bottom at the level 1.3665 which its location is above the formed bottom at the level 1.3608 with a strong sign that the pair may form a correction bullish direction for mid-term trades, the pair rose from this bottom till reached the resistance level 1.3852 which represents 38.2% of fibonacci's correction level for the bearish move (From 1.4247 to 1.3608), it is expected that with breaking the resistance level 1.3852 upwards, the pair will rise targeting to break the near resistance levels 1.3927 and 1.4003 which represent 50.0 and 61.8% of the same fibonacci's correction level.
The stability of these expectations requires the stability of the support level 1.3755.
Res: 1.3893 1.3972 1.4091
Pivot: 1.3774
Sup: 1.3695 1.3576 1.3497
AUD/USD
The pair failed to break the resistance level 1.0215 which represents 38.2% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) which led the pair o rise again breaking the resistance level 1.0300 reaching the level 1.0410 which represents 23.6% of fibonacci's correction level for the same last bullish wave. It is expected that the pair will continue declining again and will re-test the support level 1.0215 but under the condition of breaking the support level 1.0300.
The stability of these expectations requires the stability of the resistance level 1.0500.
Res: 1.0507 1.0598 1.0750
Pivot: 1.0355
Sup: 1.0264 1.0112 1.0021