GIGFX Daily Economic Analysis - page 19
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Tuesday 9th of August 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair short-term and intraday levels movement is characterized by strong volatility between rising and declining, sometimes it seems up strongly and sometimes it seems down strongly and also under the weight of conflicting data which comes out of the biggest economic powers in the world, technically the pair came again to trade inside the short-term and the intraday levels bearish channel to make the expectations on continuing the bearish scenario but not before retesting the resistance level 1.4270 which represents 38.2% Fibonacci retracement correction level for the last medium-term bullish wave and it also coincides with the channel's top border if this level is stabile against testing the price for it so the pair will decline targeting the support level 1.4105 which represents 61.8% from Fibonacci retracement correction levels.
Res: 1.4362 1.4546 1.4663
Pivot: 1.4245
Sup: 1.4061 1.3944 1.3760
AUD/USD
The AUD/USD pair continued its bearish movement breaking a lot of levels achieving a bottom at the support level 0.9927, to rise back from this level facing the current resistance level 1.0205, as if the pair rose up to pass this level it will target the resistance level 1.0310, but if the current resistance level held it will push the pair to fall in order to retest the nearest support level, which may lead the pair to target 0.9927 support level.
Res: 1.0360 1.0535 1.0626
Pivot: 1.0269
Sup: 1.0094 1.0003 0.9828
Wednesday 10th of August 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair short-term and intraday levels movement is characterized by strong volatility between rising and declining, sometimes it seems up strongly and sometimes it seems down strongly and also under the weight of conflicting data which comes out of the biggest economic powers in the world, technically the price is moving within the forming (Gartley) harmonic pattern whereas it is forming now the last CD wave which is supposed to target the resistance level 1.4500 so it's expected that the pair will rise up during the intraday trades targeting the resistance level 1.4500 which at it the harmonic pattern will be formed but it's not recommended to the traders to enter any purchasing process based on this pattern, but only in case of breaking the resistance level 1.4430 which represents the pattern's B point.
Res: 1.4449 1.4524 1.4673
Pivot: 1.4300
Sup: 1.4225 1.4076 1.4001
AUD/USD
The AUD/USD pair was able to rise after the support level 0.9927 held, to reach 1.0411, as if the pair rose up to pass this level it will target the resistance level 1.0525, but if the current resistance level held it will push the pair to fall in order to break the support level 1.0310 to target then 1.0205 support.
Res: 1.0511 1.0669 1.0961
Pivot: 1.0219
Sup: 1.0061 0.9769 0.9611
Friday August 12th 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair short-term and intraday levels movement is characterized by strong volatility between rising and declining, and also under the weight of conflicting data which comes out of the biggest economic power in the world between the resistance level 1.45370 which represents 23.6% Fibonacci retracement correction level for the last medium-term bullish wave and the support level 1.4100 which represents 61.8% from the same previous mentioned Fibonacci retracement correction level, if the pair break one of these levels so the short and medium-terms breaking direction will be confirmed.
Today's expectations; volatility will be continued, the pair tried yesterday to achieve some gains ended by the intraday trades beginning whereas the pair is trying to decline targeting the support level 1.4100 again.
Res: 1.4320 1.4399 1.4507
Pivot: 1.4212
Sup: 1.4133 1.4025 1.3946
AUD/USD
The AUD/USD pair was able to rise after the support level 0.9927 held, to reach 1.0411resistance level to fall from this level forming a bottom at 1.0110 level previously which stopped the falling for the pair and formed the harmonic pattern (AB=CD), where it is expected during the upcoming trades that the pair will retest the resistance level 1.0411, which if was broken the pair will target the resistance level 1.0590 as the expected (D) point for the pattern that coincides with 161.8% continuous level for the (BC) wave, but if the resistance level 1.0411 will push the pair to fall in order to retest the support level 1.0110 then 0.9927.
The previous analyze remains
Res: 1.0435 1.0520 1.0683
Pivot: 1.0272
Sup: 1.0187 1.0024 0.9939
Monday August 15th 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair short-term and intraday levels movement is characterized by strong volatility between rising and declining, and also under the weight of conflicting data which comes out of the biggest economic power in the world between the resistance level 1.4370 which represents 23.6% Fibonacci retracement correction level for the last medium-term bullish wave and the support level 1.4100 which represents 61.8% for the same previous mentioned Fibonacci retracement correction level, if the pair break one of these levels so the short and medium-terms breaking direction will be confirmed.
As was expected previously, the price tested the support level 1.4100 and was pushed up from it, it's expected that this oscillation will be continued during the intraday levels and rising the pair up targeting the resistance level 1.4370.
Res: 1.4311 1.4371 1.4451
Pivot: 1.4231
Sup: 1.4171 1.4091 1.4031
AUD/USD
As was expected for the AUD/USD pair was able to rise to face 1.0411 resistance level that represents the (B) point for the mentioned harmonic pattern (AB=CD), which if was broken the pair will target the resistance level 1.0590 as the expected (D) point for the pattern that coincides with 161.8% continuous level for the (BC) wave, but if the resistance level 1.0411held; it will push the pair to fall in order to retest the support level 1.0110 then 0.9927.
Res: 1.0394 1.0436 1.0511
Pivot: 1.0319
Sup: 1.0277 1.0202 1.0160
Tuesday August 16th 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair was able to break the resistance level 1.4370 yesterday which was facing against raising the pair during the previous weeks after confiding it's sideway direction movement, the trades movement is still above this level by a consecutive closes, a further rise is expected during the intraday levels targeting the resistance level 1.4530 with the probability of retesting the broken level 1.4370.
This scenario depends on the stability of the support level 1.4370.
Res: 1.4529 1.4614 1.4753
Pivot: 1.4390
Sup: 1.4305 1.4166 1.4081
GBP/ USD
The GBP/USD pair continued rising during yesterday trades till reached the area of the resistance level 1.6390 which represents 76.4% of fibonacci's correction level for the bearish move (from 1.6476 to 1.6110), the last bullish move was formed due to moving inside a bullish channel for near-term trades, the pair formed a top at the level 1.6390 and used it to decline to re-test the near support levels, while prices are in a bullish channel but a bearish move in the stochastic index is noticed which declares the existence of a divergence that continues the bullish direction, this divergence reflects the probability of forming a bullish bottom coinciding with the bottom border of the channel, this bottom is expected to be coinciding with re-testing the support level 1.6336 and the pair will use this bottom to rise again trying to break the level 1.6390 and if the pair succeeded to do so it will rise targeting the resistance level 1.6476.
The stability of these expectations requires the stability of the support level 1.6293.
Res: 1.6446 1.6503 1.6598
Pivot: 1.6351
Sup: 1.6294 1.6199 1.6142
USD/CHF
The USD/CHF pair rose previously reaching 0.7968 resistance level that coincide with 61.8% correction level for the bearish move from 0.8520 to 0.7075, where it is expected, to fall form this level facing 0.7798 that represents of 50% correction level which if held it will push the pair to rise breaking 0.7968 resistance to target then 0.8180 resistance level that coincide with 76.4% correction level, but breaking the support level 0.7798 will push the pair down to retest the support level 0.7625 that represents 38.2% correction level.
Res: 0.7963 0.8084 0.8172
Pivot: 0.7875
Sup: 0.7754 0.7666 0.7545
USD/CAD
The pair USD/CAD is still trading below a bearish trendline, yesterday it was targeting the support level 0.9866 which represents 23.6% of fibonacci's correction level and now the pair is trading below it so it is expected that the pair will continue declining trying to target the support level 0.9778 which represents 38.2% of fibonacci's correction level and if the pair held below this level it will target the support level 0.9705 which represents 50.0% of fibonacci's correction level and if the pair held below this level it will target the support level 0.9635 which represents 61.8% of fibonacci's correction level.
The stability of these expectations requires the stability of the pair below the support level 0.9778.
Res: 0.9866 0.9944 0.9983
Pivot: 0.9827
Sup: 0.9749 0.971 0.9632
AUD/USD
The AUD/USD pair was able to rise passing 1.0411 resistance level that represents the (B) point for the mentioned harmonic pattern (AB=CD), to register 1.0511 price before it fell again in order to retest 1.0411 level again, as if the pair was able to pass the current support it will continue falling in order to search for appropriate support level that might be 1.0110, but if the 01.0411 support held it will push the pair to rise in order to achieve the harmonic pattern target at 1.0590 resistance level.
Res: 1.0560 1.0615 1.0719
Pivot: 1.0456
Sup: 1.0401 1.0297 1.0242
wednesday August 17th 2011 GIGFX Technical Analysis Report
wednesday August 17th 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair was able to break the resistance level 1.4370 yesterday which was stopping the pair raising during the previous two weeks after it had a sideway direction movement, the pair trades remains above this level with a consecutive closes to lead the expectations for a further rising during the intraday levels targeting the resistance level 1.4530 specially after the retesting of the resistance level 1.4370.
This scenario depends on the stability of the support level 1.4370.
Res: 1.4468 1.4528 1.4585
Pivot: 1.4411
Sup: 1.4351 1.4294 1.4234
AUD/USD
The AUD/USD pair was able to form a reflecting wedge pattern, as it is expected that the pair will rise in order to retest the resistance level 1.0544 that may coincides with the pattern top line, as if the pair was able to pass this level it will target 1.0625 resistance level that coincide with 61.8% correction level for the last bearish move but the pair must break 1.0488 that represents 50% correction level, but the stability of this level will push the pair to retest the support level 1.0362 that coincide with 38.2% correction level coinciding with the pattern bottom line, as if the pair was able to pass down this level it will push the pair to retest 1.0194 support level that represents 23.6% correction level.
Res: 1.0529 1.0574 1.0636
Pivot: 1.0467
Sup: 1.0422 1.036 1.0315
Thursday August 18th 2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected yesterday, the support level 1.4370 held against the pair testing which led to target the resistance level 1.4530 that the pair tried to break it yesterday but it failed and reflected downwards re-testing the support level 1.4370 that it is expected to be stable during the upcoming trades which will led the pair to rise targeting the resistance level 1.4460.
If the resistance level 1.4460 held against the pair testing, the pair will decline targeting to break the support level 1.4370 and to reach the support level 1.4265.
And in the case that the pair broke the resistance level 1.4460, the pair will target the resistance level 1.4530 and the pair may succeed to break it.
Res: 1.4519 1.4613 1.4710
Pivot: 1.4422
Sup: 1.4328 1.4231 1.4137
AUD/USD
The AUD/USD pair was able to form a reflecting wedge pattern, as it is expected that the pair will rise in order to retest the resistance level 1.0544 that may coincides with the pattern top line, as if the pair was able to pass this level it will target 1.0625 resistance level that coincide with 61.8% correction level for the last bearish move but the pair must break 1.0488 that represents 50% correction level, but the stability of this level will push the pair to retest the support level 1.0362 that coincide with 38.2% correction level coinciding with the pattern bottom line, as if the pair was able to pass down this level it will push the pair to retest 1.0194 support level that represents 23.6% correction level.
Yesterday analysis is still remaining till now
Res: 1.062 1.0694 1.0788
Pivot: 1.0526
Sup: 1.0452 1.0358 1.0284
Friday August 19th 2011 GIGFX Technical Analysis Report
EUR/USD
As was expected for the EUR/USD pair, the pair rose in order to retest the resistance level 1.4460, then the pair fell breaking the support level 1.4370 targeting the support level 1.4265, to for a continuous pattern which is the flag pattern, leading the expectations for further falling for the pair targeting a secondary support level 1.4185 that coincides with 50% correction level for the last bullish move during the long trades, in order to confirm this analyze the support level 1.4265 must be broken with a good close below it.
This analyze requires the stability of the resistance level 1.4370.
Res: 1.4431 1.4531 1.4611
Pivot: 1.4351
Sup: 1.4251 1.4171 1.4071
GBP/ USD
After a five days of a bullish movement for the pair, yesterday trades came bearishly as the pair fell after facing the resistance level 1.6575 that represents 127% continuous level for the bearish move from 1.6476 to 1.6110, as it was expected yesterday the retesting of the support level 1.6476 that coincides with the retesting of the bullish channel bottom line which the pair remain moving inside its range, currently the pair is trying to form a rising bottom at the mentioned area in order to use it to pass the resistance level 1.6575 to target then the next resistance at 1.6703.
This scenario requires the stability of the support level 1.6476.
Res: 1.6571 1.6628 1.6704
Pivot: 1.6495
Sup: 1.6438 1.6362 1.6305
USD/CHF
The pair is moving in a sideway channel between the resistance level 0.9765 which represents 61.8% of fibonacci's correction level for the last bearish wave for long-term trades and the support level 0.8700 which represents 50.0% of the same levels so breaking any of them will determine the upcoming direction for the pair for near and mid-term trades and will confirm the direction of the breaking.
It is expected that, the pair will continue its sideway move whereas, after the pair tested the resistance level 0.9765 yesterday it is now declining reflecting its tendency to continue declining targeting the support level 0.7630.
Res: 0.7999 0.8058 0.8129
Pivot: 0.7928
Sup: 0.7869 0.7798 0.7739
USD/CAD
The pair was able during the previous trades to break the symmetrical triangle with breaking the resistance level 0.9829 which coincided with the triangle top line, leading the expectations for today's trade for further rising targeting the resistance level 0.9980, and the stability above this level will lead the pair to the resistance level 1.0104.
This analyze requires the stability of the support level 0.9829.
Res: 0.9959 1.0010 1.0099
Pivot: 0.9878
Sup: 0.9819 0.9738 0.9679
AUD/USD
The pair was able during yesterday trades to break the bullish wedge pattern with breaking the support level 1.0488, to trade around 1.0362 support level which represents 38.2% correction level for the last bullish move, leading the expectations for the pair to target the support level 1.0275 coinciding with 50% correction level, and trading below this level will push the pair to target the support level 1.0194 that represents 61.8% correction level.
This scenario requires a good close below 1.0362 support level
Res: 1.0513 1.0638 1.0719
Pivot: 1.0432
Sup: 1.0307 1.0226 1.0101
Monday August 22th 2011 GIGFX Technical Analysis Report
EUR/USD
Unlike what was expected, the EUR/USD pair rose during the last week trades after facing the support level 1.4265, to rise retesting the resistance level 1.4450 then the pair fell after facing the previous resistance leading the expectation for further falling during the upcoming trades affected with the formed harmonic pattern (Gartely) to target the support level 1.4200 that represents the end of the CD wave and the end of the pattern which coincides with 76.4% correction level for the XA bullish wave, which supports the pattern.
This scenario requires the stability of the resistance level 1.4450.
Res: 1.4473 1.4558 1.4665
Pivot: 1.4366
Sup: 1.4281 1.4174 1.4089
AUD/USD
The bullish direction is still dominating the trades of the AUD'USD pair as it formed Gartley harmonic pattern and now the price is moving in the range of the last wave CD which targets the resistance level 1.0546, it is expected that the pair will continue rising targeting the resistance level 1.0478 which represents the point B and if the pair held above this level it will target the resistance level 1.0546 which represents the point D.
The stability of these expectations requires the stability of the pair above the support level 1.0364 which represents the point C of the pattern.
Res: 1.0485 1.0564 1.0650
Pivot: 1.0399
Sup: 1.0320 1.0234 1.0155
Tuesday 23th 2011 GIGFX Technical Analysis Report
EUR/USD
The expectation remains for the pair to form a harmonic pattern, though the pair rose slightly after it reached 1.4347 during yesterday trades, but the Gartely pattern formation remain the expected movement as long as the pair remain below the resistance level 1.4450 to fall targeting the support level 1.4200 that coincide with 76.4% correction level for the XA wave to finish the CD wave by that move.
The scenario above requires the stability of the resistance level 1.5540
Res: 1.4411 1.4466 1.4498
Pivot: 1.4379
Sup: 1.4324 1.4292 1.4237
AUD/USD
The bullish direction is still dominating the trades of the pair for near and mid-term trades and formed Gartley harmonic pattern and now the pair is moving in the range of the last wave CD which targets the resistance level 1.0546. the pair succeeded to reach the point B which represents the resistance level 1.0478 so it is expected that the pair will continue rising targeting the resistance level 1.0546 which represents the point D.
The stability of these expectations requires the stability of the pair above the resistance level 1.0478 which represents the point B.
Res: 1.0465 1.0523 1.0575
Pivot: 1.0413
Sup: 1.0355 1.03034 1.0245