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#81
06-09-2011, 08:43
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Tuesday September 6th 2011 GIG FX Technical Analysis Report
EUR/USD
The EUR/USD pair continued its falling as was expected to reach the support level 1.4055 during the current trades; which was mentioned through the previous report, as if the pair tends to continue that bearish direction it must break 1.4055 support to target then 1.3925 support level, with a good chance to rise back in order to retest the resistance level 1.4170, but in case the pair tends to rise it must break the mentioned resistance with a good close above it to target then the resistance level 1.4300. Res: 1.4159 1.4222 1.4271 Pivot: 1.4110 Sup: 1.4047 1.3998 1.3935 GBP/ USD The GBP/USD pair declined since this week trades beginning, the AB=CD formed harmonic pattern is affected by that on the price movement which was targeting the support level 1.6045 whereas the price was approached to it during yesterday trades, the pair registered the lowest price for it 1.6061with appearing a positive signals on the price movement for this bullish wedge formed reversal pattern and also appearing a positive signals from the stochastic index at the bottom of the chart, whereas a positive divergence refers to the probability of rising the price, so it's expected during the intraday trades that the pair will rise trying to test the resistance level 1.6190 as it's first target for this bullish move. This scenario depends on the support level 1.6045 stability. Res: 1.6181 1.6246 1.6306 Pivot: 1.6121 Sup: 1.6056 1.5996 1.5931 USD/CHF The narrow trades was the USD/CHF pair movement during the previous short trades, which may reflects the stability of the current support level leading the pair for a possible rising in order to retest the resistance level 0.7965 and if the pair was able to pass this level it will target the resistance level 0.8080, but in case the pair tends to continue its bearish short move it must break the current support level 0.7775 in order to target 0.7660 support level. Res: 0.7915 0.7960 0.8007 Pivot: 0.7868 Sup: 0.7823 0.7776 0.7731 USD/CAD As it was expected yesterday, the pair reached the resistance level 0.9940 which represents 76.4% of fibonacci's correction level for the bearish direction but it was unable to break this level expecting that the pair will re-test the resistance level 0.9940 and if the pair held above this level it will target the resistance level 1.0008 trying to form a new top. But if the pair was unable to break the resistance level 0.9940 it will target the support level 0.9899 which represents 61.8% of fibonacci's correction level and if the pair held below this level it will target the support level 0.9866 which represents 50.0 % of fibonacci's correction level and if the pair held below this level it will target the support level 0.9833 which represents 23.2 % of fibonacci's correction level. Res: 0.9937 0.9974 1.0018 Pivot: 0.9893 Sup: 0.9856 0.9812 0.9775 AUD/USD The pair started a declining move since the beginning of this week till now affected by exiting the reversal bullish wedge pattern for mid-term trades as it succeeded to break the bottom border of the pattern expecting more declining targeting the support level 1.0420 and if the pair continued declining and closed below this level it will target the support level 1.0240 with the probability of rising to re-test the resistance level 1.0650 then it will decline again. The stability of these expectations requires the stability of the resistance level 1.0650. Res: 1.0615 1.0683 1.0735 Pivot: 1.0563 Sup: 1.0495 1.0443 1.0375 
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#82
07-09-2011, 09:56
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Wednesday september 7th 2011 GIG FX Technical Analysis Report
EUR/USD
The EUR/USD pair continued its falling as was expected although the volatility of its prices fallowing the Swiss central bank statement that pushed the pair to reach 1.4285 price forming a top at this level that pushed the pair to fall reaching 1.3973 level forming a bottom at it, during this movement the pair was able to form a medium bearish channel leading the expectations during the upcoming trades that the pair might face the resistance level s 1.4105 then 1.4170, which may coincide with facing the channel top line, that will push the pair to fall with the stability of the mentioned resistances to retest the support level 1.3973, but if the pair was able to pass the mentioned resistances it will rise to target Initially the resistance level 1.4285. Res: 1.4192 1.4387 1.4497 Pivot: 1.4082 Sup: 1.3887 1.3777 1.3582 GBP/ USD The GBP/USD pair is still declining through moving inside a bearish channel, yesterday it succeeded to break the level 1.6110 to confirm the strength of this bearish move reaching the support level 1.5975 which coincides with the bottom border of the channel and also represents 127% of fibonacci's continuous level for the last bullish wave for mid-term trades and it is still holding till now expecting more declining targeting the support level 1.5875 with the probability of re-testing the resistance level 1.6110. The stability of these expectations requires the stability of the resistance level 1.6110. Res: 1.6121 1.6303 1.6403 Pivot: 1.6021 Sup: 1.5839 1.5739 1.5557 USD/CHF The USD/CHF pair rose strongly during the previous trades after the Swiss National Bank’s decision yesterday to cap the franc’s rate against the EURO, to reach during the previous short trades 0.8625 level forming a top at this level, during this move the pair has formed a wide bullish channel coinciding it's top line with the mentioned price level, that may push the pair to have a bearish correcting movement that may reach the support levels 0.8413 then 0.8240 during the upcoming short trades, which requires the stability of the current resistance level which if the pair was able to pass it the price will rise targeting the resistance level 0.8770. Res: 0.8886 0.9149 0.9673 Pivot: 0.8362 Sup: 0.8099 0.7575 0.7312 USD/CAD As observed in the chart that, during the last short-term trades the USD/CAD was able to break the bearish trendline up for the medium and short-terms with a strong probability sign of completing the long-term bullish directions but to confirm this possibility; the resistance level 0.9940 which represents 76.4%Fibonacci retracement correction level for the bearish direction (from 1.007 to 0.9724) must be broken up whereas the pair will target testing the resistance level 1.007 which represents breaking it up the last condition to continue forming the long-term bullish direction reaching the resistance level 1.0083. This scenario depends on the support level 0.9866 stability. Res: 0.9954 1.0008 1.0054 Pivot: 0.9908 Sup: 0.9854 0.9808 0.9754 AUD/USD The AUD/USD pair declined yesterday after breaking the bottom border of the reversal bullish wedge pattern targeting the level 1.0485 which represents 50.0% of fibonacci's correction level for the last bearish wave (from 1.1050 to 0.9930), the pair tested this level then it re-tested the bottom border of the pattern at the level 1.0620 which represents 61.8% of fibonacci's correction level, it is expected that the pair will continue declining targeting the level 1.0485 which represents 50.0% of fibonacci's correction level then it will break it to continue declining. The stability of these expectations requires the stability of the resistance level 1.0620. Res: 1.0578 1.0674 1.0722 Pivot: 1.0530 Sup: 1.0434 1.0386 1.0290
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#83
08-09-2011, 09:45
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Thursday September 8th 2011 GIG FX Technical Analysis Report
EUR/USD
The EUR/USD pair continued its falling as was expected although the volatility of its prices fallowing the Swiss central bank statement that pushed the pair to reach 1.4285 price forming a top at this level that pushed the pair to fall reaching 1.3973 level forming a bottom at it, during this movement the pair was able to form a medium bearish channel as the pair faced the resistance level 1.4105 without closing above it leading the expectations during the upcoming trades that the pair might decline with the stability of the mentioned resistance with approaching the channel top line to retest the support level 1.3973 with a good chance that the top line may coincide with the resistance level 1.4170, but if the pair was able to pass the mentioned resistances it will rise to target Initially the resistance level 1.4285. Res: 1.4166 1.4234 1.4321 Pivot: 1.4079 Sup: 1.4011 1.3924 1.3856 GBP/ USD The GBP/USD pair is trading now inside the bearish channel whereas it tried yesterday to achieve some gains, the pair registered the highest price for it 1.6037 during yesterday trades but it was unable to continue achieving more gains which reverse it down again, a further drop is expected for it during the intraday trades targeting the support level 1.5880 but firstly the support level 1.5940 must be broken with a good close below it to confirm declining. This scenario depends on the stability of the resistance level 1.6110. Res: 1.6045 1.6100 1.6163 Pivot: 1.5982 Sup: 1.5927 1.5864 1.5809 USD/CHF The USD/CHF pair rose strongly during the previous trades after the Swiss National Bank’s decision yesterday to cap the franc’s rate against the EURO, to reach during the previous short trades 0.8625 level forming a top at this level, during this move the pair has formed a wide bullish channel coinciding it's top line with the mentioned price level, that may push the pair to have a bearish correcting movement that may reach the support levels 0.8413 then 0.8240 during the upcoming short trades, which requires the stability of the current resistance level which if the pair was able to pass it the price will rise targeting the resistance level 0.8770. The previous analyze remains Res: 0.8619 0.8665 0.8705 Pivot: 0.8579 Sup: 0.8533 0.8493 0.8447 USD/CAD As it was expected through the last analysis, the pair succeeded to reach the resistance level 0.9940 which represents 76.4% of fibonacci's correction level for the bearish move but it was unable to break it so during the upcoming intraday trades it is expected that the pair will re-test the resistance level 0.9940 and if the pair held above this level it will target the resistance level 1.0008 trying to form a new top. But if the pair was unable to break the resistance level 0.9940 it will target the support level 0.9899 which represents 61.8% of fibonacci's correction level and if the pair held below this level it will target the support level 0.9866which represents 50.0% of fibonacci's correction level and if the pair held below this level it will target the support level 0.9833 which represents 23.2%of fibonacci's correction level. Res: 0.9937 0.9974 1.0018 Pivot: 0.9893 Sup: 0.9856 0.9812 0.9775 AUD/USD The pair started a declining move since the beginning of this week till now affected by exiting the prices out of the reversal bullish wedge pattern for mid-term trades by breaking the bottom border of the pattern expecting more declining targeting the support level 1.0420 and if the pair continued declining with stability below that level it will target the support level 1.0240 with the probability of rising to re-test the resistance level 1.6050 then it will continue declining again. The stability of these expectations requires the stability of the resistance level 1.0650. Res: 1.0718 1.0778 1.0896 Pivot: 1.0600 Sup: 1.0540 1.0422 1.0362
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#84
09-09-2011, 11:17
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Friday September 9th 2011 GIG FX Technical Analysis Report
EUR/USD
As was expected the EUR/USD pair fell during the previous trades to reach 1.3873 price after the resistance level 1.4105 held and breaking 1.3973 forming a bottom at this level to stop the current falling, as if the pair tends to continue that falling it must break 1.3873 support to target then the next support level at 1.3795 , with a good chance that the pair may retest the resistance level 1.3973 that may coincide with the bullish channel top line that support the bearish movement, passing the mentioned resistances will push the pair to rise targeting initially the resistance level 1.4105 in order to retest it. Res: 1.4029 1.4178 1.4256 Pivot: 1.3951 Sup: 1.3802 1.3724 1.3575 GBP/ USD The GBP/USD pair is still trading inside the bearish channel, whereas it tried yesterday to achieve some gains and it registered the highest price at 1.6037 during yesterday trades but it wasn't able to continue achieving more gains which reverse it down again, a further drop is expected for it during the intraday trades targeting the support level 1.5880 but firstly it must break the support level 1.5940 with a good close below it to confirm declining. This scenario depends on the stability of the resistance level 1.6110. Res: 1.6056 1.6154 1.6226 Pivot: 1.5984 Sup: 1.5886 1.5814 1.5716 USD/CHF The USD/CHF pair was able to pass the resistance level 0.8625 previously to reach the expected resistance level in the rising case 0.8770, giving the previous rising more sharpness affected by the Swiss National Bank’s decision, as if the pair tends to continue that rise it must pass the current resistance level 0.8770 to target then 0.8940 resistance, but the bullish channel top line that the pair is facing currently might slow that rise and may push the pair to retest the nearest support levels such as 0.8570 and 0.8413. Res: 0.8824 0.8894 0.9019 Pivot: 0.8699 Sup: 0.8629 0.8504 0.8434 USD/CAD The pair is trading above the bullish trendline that has been formed for near and mid-term trades so it is expected that the pair will target the resistance level 0.9916 and if the pair held above this level it will target the resistance level 0.9959. The stability of these expectations requires the stability of the support level 0.9845. Res: 0.9915 0.9939 0.9983 Pivot: 0.9871 Sup: 0.9847 0.9803 0.9779
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#85
12-09-2011, 12:23
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Monday September 12th 2011 GIGFX Technical Analysis Report
EUR/USD
As observed that, the EUR/USD pair formed a short and medium-terms bearish directions whereas the hard declining for the EUR against the hard rising for the USD is observed, with this week trades beginning the pair registered a bearish price gap which came to confirm the strength of the dominant bearish direction for the EUR/USD pair trades, whereas continuing this bearish move is expected till the support level 1.3398 which represents 161.8% Fibonacci retracement continuous level for the bullish direction (from 1.3837 to 1.4548) the expected condition for breaking the level 1.3500, if the covered all the price gap with breaking up the resistance level 1.3645 so it's likely that this will be a strong sign for beginning a bearish corrective direction and the pair will retest the resistance level 1.3837. Res: 1.3857 1.4051 1.4166 Pivot: 1.3742 Sup: 1.3548 1.3433 1.3239 [IMG]  [IMG]GBP/ USD The GBP/USD pair remain its trades inside a bearish channel range as the pair was able to form the AB=CD harmonic pattern that supposed to target the support area between 1.5800 and 1.5750, that area may stop the pair falling currently pushing it to retest the nearest resistance levels such as 1.5925 t, but in case the pair remains that bearish direction it will target the support level 1.5650. Res: 1.5957 1.6047 1.6104 Pivot: 1.5900 Sup: 1.5810 1.5753 1.5663 [IMG]  [IMG]USD/CHF The bullish direction remain controlling the USD/CHF pair trades, as the pair was able to pass 0.8770 level previously to face the resistance level 0.8940 that was expected during the previous report, in case the pair was able to pass this level it will target the next resistance level around 0.9010 price, but the stability of the current resistance will push the pair to retest the nearest support level such as 0.8770. Res: 0.8899 0.8960 0.9056 Pivot: 0.8803 Sup: 0.8742 0.8646 0.8585 [IMG]  [IMG]USD/CAD The USD/CAD pair is in the forming stage of the harmonic pattern AB=CD as it succeeded to break the resistance level 0.9960 which represents the point B to begin form the remaining part of the bullish rib CD which target the level 1.0050 which represents the point D for the harmonic pattern. The stability of these expectations requires the stability of the support level 0.9960. Res: 0.9997 1.0042 1.0107 Pivot: 0.9932 Sup: 0.9887 0.9822 0.9777 [IMG]  [IMG]AUD/USD The pair continued declining breaking the support level 1.0485 which coincides with 38.2% of fibonacci's correction level for the last bullish wave (From 0.9930 to 1.0760) and after breaking the level 1.0355 which represents 50.0% of fibonacci's correction level for the same last bullish wave it is expected that it will continue declining targeting the level 1.0245 which represents the target of the bullish wedge pattern which coincides with 61.8% of fibonacci's correction level for the last bullish wave. The stability of these expectations requires the stability of the resistance level 1.0475. Res: 1.0586 1.0718 1.0801 Pivot: 1.0503 Sup: 1.0371 1.0288 1.0156
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#86
13-09-2011, 09:10
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Tuesday September 13th 2011 GIGFX Technical Analysis Report
EUR/USD
During yesterday trades the EUR/USD pair didn't achieve a price below the level 1.3500 achieving a daily close to cover all the bearish gap, this close represents a strong signal for beginning forming a bullish corrective direction, it's expected that the pair will initially target the level 1.3747, breaking this level up means rising till the next corrective level at 1.3900 which represents 38.2% Fibonacci retracement correction level for the bearish direction (from 1.4548 to 1.3500), this scenario depends on the stability of the support level 1.3500, breaking this level down means a further drop till the support level 1.3398 which represents 161.8% Fibonacci retracement continuous direction for the bullish direction (from 1.3837 to 1.4548). Res: 1.3747 1.3815 1.3938 Pivot: 1.3624 Sup: 1.3556 1.3433 1.3365 [IMG]  [IMG]GBP/ USD As was expected through the previous report the GBP/USD pair could not continue the previous falling facing the support area between 1.5800 and 1.5750 levels, the area that represent the end of the harmonic pattern AB=CD, as it is expected during the upcoming short trades that the pair will retest the bearish channel top line that may coincides with facing the resistance level 1.5925, which with its stability the pair will fall retesting the mentioned support levels, and if the pair was able to pass this supports it will target the next support at 1.5650 level. Res: 1.5906 1.5951 1.6018 Pivot: 1.5839 Sup: 1.5794 1.5727 1.5682 [IMG]  [IMG]USD/CHF The USD/CHF pair has stopped the previous rising with the stability of the resistance level 0.8940 to fall facing the support level 0.8770 during the current trades, that move was expected in case the mentioned resistance held against the pair rising, as if the current support level held it will push the pair to rise in order to retest the resistance level 0.8940 then to the resistance level 0.9010, but if the pair continued the previous falling to pass down 0.8770 support it will target the next support at 0.8570 level. Res: 0.8886 0.8971 0.9014 Pivot: 0.8843 Sup: 0.8758 0.8715 0.8630 [IMG]  [IMG]USD/CAD The pair finished forming the bullish rub CD at the level 1.0025 below the expected level to reach through the last analysis at 1.0050 so the pair ended the formation of the harmonic pattern and declined during the intraday trades to re-test the near support level as it was expected that the pair will form a bullish bottom at the level 0.9960 but it could not happen because the pair now is trading below this level in a strong sign of more declining during the upcoming intraday trades targeting the support level 0.9825 but under the condition of breaking the bullish trendline which matches the point A with C. The stability of these expectations requires the stability of the resistance level 1.0025. Res: 0.9996 1.0066 1.0107 Pivot: 0.9955 Sup: 0.9885 0.9844 0.9774 [IMG]  [IMG]AUD/USD As it was expected through yesterday report, the pair declined to the level 1.0245 which represents 61.8 of fibonacci's correction level for the last bullish wave (from 0.9930 to 1.0760) and rose again with stability above the level 1.0355 which represents 50.0% of fibonacci's correction level for the last mentioned bullish wave, it is expected that the pair will continue rising during the upcoming intraday trades targeting the level 1.0475. The stability of these expectations requires the stability of the support level 1.0245. Res: 1.0438 1.0532 1.0624 Pivot: 1.0346 Sup: 1.0252 1.0160 1.0066
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#87
14-09-2011, 09:55
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Wednesday September 14th 2011 GIGFX Technical Analysis Report
EUR/USD
As was expected through the previous report, yesterday EUR/USD trades was bullish for the second consecutive day, whereas testing the resistance level 1.3747 was expected, to form a bearish top at this level pushed the pair down during the last intraday trades, between declining and rising it's observed that the pair is forming a bearish flag pattern which came to support forming the bearish directions, in condition; the flag's lower border must be broken and having a good close below it then the pair will test the support level 1.3500 which represents breaking it down, this indicates a further drop till the support level 1.3398 which represents 161.8% Fibonacci continuous bullish direction (from 1.3837 to 1.4548), this bearish scenario depends on the stability of the resistance level 1.3747 breaking this level up with breaking the bearish trend line means an initial rise till the next resistance level at 1.3900. Res: 1.3758 1.3839 1.3939 Pivot: 1.3658 Sup: 1.3577 1.3477 1.3396 GBP/ USD The GBP/USD pair was able to continue the previous falling after forming a top at the level 1.5885 which pushed the pair to fall passing 1.5750 level during the current trades, that will push the pair for further falling targeting the support level 1.5650 that may coincide with the bearish channel bottom line which was mentioned through the previous reports, but if the pair traded back above 1.5750 level it will search for a good resistance level such as 1.5885 that may coincide with the channel top line. Res: 1.5843 1.5909 1.5950 Pivot: 1.5802 Sup: 1.5736 1.5695 1.5629 USD/CHF The USD/CHF pair has stopped the previous rising with the stability of the resistance level 0.8940 to fall facing the support level 0.8770 during the current trades, that move was expected in case the mentioned resistance held against the pair rising, as if the current support level held it will push the pair to rise in order to retest the resistance level 0.8940 then to the resistance level 0.9010, but if the pair continued the previous falling to pass down 0.8770 support it will target the next support at 0.8570 level. The previous analyze remains Res: 0.8868 0.8933 0.8988 Pivot: 0.8813 Sup: 0.8748 0.8693 0.8628 USD/CAD As it was expected yesterday, the pair declined targeting the support level 0.9825 forming a new higher bottom at the level 0.9845, the pair rose during the last intraday trades to re-test the near resistance level and now it is testing the level 0.9935 which represents 50.0% of fibonacci's correction level for the bearish move (from 1.0025 to 0.9845), braking this level upside means more rising targeting the level 0.9983 followed by 1.0025, forming a bearish top at the resistance level 0.9935 means returning the pair to decline to re-test the support level 0.9845, breaking this level downside leads to the expectation of declining the pair targeting the support level 0.9735. Res: 0.9938 1.0020 1.0065 Pivot: 0.9893 Sup: 0.9811 0.9766 0.9684 AUD/USD The AUD/USD pair failed to break the resistance level 1.0360 which represents 50.0% of fibonacci's correction level for the last bullish wave (From 0.9930 to 1.0760) the pair formed many tops at this level which pushed the pair to decline breaking the level 1.0245 0360 which represents 50.0% of fibonacci's correction level for the last bullish wave, it is expected that the pair will continue declining targeting the level 1.0125 which represents 76.4% of fibonacci's correction level. The stability of these expectations requires the stability of the resistance level 1.0245. Res: 1.0369 1.0428 1.0483 Pivot: 1.0314 Sup: 1.0255 1.0200 1.0141
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#88
15-09-2011, 08:28
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Thursday September 15th 2011 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair continues rising inside the bearish flag pattern as was expected, yesterday trades saw a new bullish move for the third consecutive day, the pair rose up testing the resistance level 1.3747 achieving the highest price for yesterday trades at the level 1.3783 without closing above the level 1.3747, it's expected that the pair will test the pattern's lower border trying to break it down to continue declining initially till the level 1.3500 but this scenario depends on the stability of the resistance area which is between the level 1.3747 and 1.3783 which coincides at it the medium-term bearish trend line, breaking this area means continuing the bullish move till the resistance level 1.3900. Res: 1.3828 1.3901 1.4020 Pivot: 1.3709 Sup: 1.3636 1.3517 1.3444 GBP/ USD The GBP/USD pair could not pass down the support level 1.5750 previously having a narrow trades that reflects the pair momentum around this level, to remain the pair trades around this level during the current trades, as if the pair was able to pass down this level the pair will have a further falling targeting the support level 1.5650 that may coincide with the bearish channel bottom line which was mentioned through the previous reports, but if the support level 1.5750 held it will push the pair to search for a good resistance level such as 1.5885 that may coincide with the channel top line. Res: 1.5816 1.5865 1.5865 Pivot: 1.5760 Sup: 1.5711 1.5655 1.5606 USD/CHF The situation did not change much after the USD/CHF pair has stopped the previous rising with the stability of the resistance level 0.8940 to fall facing the support level 0.8770 during the previous and current trades having a narrow trades above the support level 0.8770 which reflects the pair momentum around this level , as if the current support level held it will push the pair to rise in order to retest the resistance level 0.8940 then to the resistance level 0.9010, but if the pair continued the previous falling to pass down 0.8770 support it will target the next support at 0.8570 level. Res: 0.8832 0.8905 0.8957 Pivot: 0.8780 Sup: 0.8707 0.8655 0.8582 USD/CAD The pair is in the forming stage of the reversal head and shoulders harmonic pattern during current and upcoming intraday trades the pair is trying to complete forming the right shoulder which requires the stability of the resistance level 0.9956 in order to decline again to re-test the neckline which with its breaking downside and with breaking the support level 0.9845 the pair will continue declining targeting the support level 0.9735 primarily followed by the target of the harmonic pattern. The stability of these expectations requires the stability of the resistance level 0.9956. Res: 0.9937 0.9984 1.0030 Pivot: 0.9891 Sup: 0.9844 0.9798 0.9751 AUD/USD The AUD/USD pair is moving inside the reversal bearish wedge pattern and rose till reached the level 1.0290 which coincides with the top border of the bearish wedge pattern which pushed the pair to decline again to re-test the support level 1.0180, it is expected that the pair will continue declining targeting the level 1.0090 which coincides with the bottom border of the bearish wedge pattern but under the condition of breaking the support level 1.0180. The stability of these expectations requires the stability of the resistance level 1.0290. Res: 1.0377 1.0470 1.0570 Pivot: 1.0277 Sup: 1.0184 1.0084 0.9991
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#89
16-09-2011, 08:53
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Friday September 16th 2011 GIGFX Technical Analysis Report
EUR/USD
For the 4th consecutive day, the EUR/USD pair yesterday trades saw a further rise, as was expected through the previous report that, the pair broke the confined resistance area between the level 1.3747 and the level 1.3783 continuing the bullish move till the level 1.3900 which represents 38.2% Fibonacci retracement correction level for the bearish direction (from 1.4548 to 1.3500) coinciding this level with the medium-term bearish trend line so forming a top pushed the pair down during the last intraday trades were seen, it's expected that the pair will continue declining to retest the support area between the level 1.3783, 1.3747, breaking this area down means declining again till the level 1.3500 during the next short-term trades, breaking up the level 1.3900 means continuing the bullish move again till the next support level at 1.4024. Res: 1.3973 1.4071 1.4206 Pivot: 1.3838 Sup: 1.3740 1.3605 1.3507 GBP/ USD The GBP/USD pair could not pass down the support level 1.5750 previously having a narrow trades that reflects the pair momentum around this level showing a small rising to retest the bearish channel top line previously remaining its trades below the resistance level 1.5885, as if the pair was able to pass down 1.5750 level the pair will have a further falling targeting the support level 1.5625 that may coincide with the bearish channel bottom line, but if the pair held above 1.5885 level it means the breaking of the bearish channel which will push the pair to search for a good resistance level such as 1.5925 which if the pair was able to break it will target 1.6090 as the broken channel target from the current levels. Res: 1.5868 1.5936 1.6005 Pivot: 1.5799 Sup: 1.5731 1.5662 1.5594 USD/CHF The situation did not change much after the USD/CHF pair has stopped the previous rising with the stability of the resistance level 0.8930 to fall facing 0.8770 level during the previous and current trades having a narrow trades around the 0.8770 level which reflects the pair momentum around this level , as if the pair traded above the current level the pair will rise in order to retest the resistance level 0.8930 then to the resistance level 0.9010, but if the pair continued the previous falling to pass down 0.8770 level it will target the next support at 0.8570 level. Res: 0.8777 0.8862 0.8927 Pivot: 0.8712 Sup: 0.8627 0.8562 0.8477 USD/CAD The pair continued forming the right shoulder of the head and shoulders pattern as it was expected yesterday, it continued declining breaking the neckline so it is expected that the pair will continue declining targeting the level 0.9656 which represents 127% of fibonacci's continuous level for the bullish move (From 0.9735 to 1.0025), but under the condition of breaking the support level 0.9825 followed by the support level 0.9735. The stability of these expectations requires the stability of the resistance level 0.9880. Res: 0.9912 0.9990 1.0032 Pivot: 0.9870 Sup: 0.9792 0.9750 0.9672 AUD/USD The pair broke the top border of the reversal bearish wedge pattern and the level 1.0290 which represents 23.6% of fibonacci's correction level for the last bearish wave (from 1.0660 to 1.0180) which led the pair to rise reaching the level 1.0370 which represents 38.2% of fibonacci's correction level for the last bearish wave (from 1.0660 to 1.0180), it is expected that the pair will continue rising targeting the level 1.0480 which represents 61.2% of fibonacci's correction level for the last bearish wave (from 1.0660 to 1.0180), but under the condition of breaking the resistance level 1.0370. The stability of these expectations requires the stability of the support level 1.0290. Res: 1.0387 1.0447 1.0550 Pivot: 1.0284 Sup: 1.0224 1.0121 1.0061
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#90
20-09-2011, 11:13
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Re: GIGFX Technical Analysis (Updated Daily)
EUR/USD
Yesterday, the pair failed to break the resistance level 1.3712 which represents the bottom barrier of the bearish gap that has been formed at the beginning of this week#s trades so the pair failed to cover the whole gap to continue declining till it formed a bearish bottom at the support level 1.3585, the pair is still tradinf above this level ina strong sign to continue rising again to test the resistance level 1.3712 which with its breaking upside means more rising targeting the level 1.3802 which represents 61.8% of fibonacci's correction level for the bearish move (from 1.3936 to 1.3585), breaking the support level 1.3585 means more declining till the support level 1.3500. Res: 1.3740 1.3796 1.3873 Pivot: 1.3663 Sup: 1.3607 1.3530 1.3474 GBP/ USD The GBP/USD pair is still trading inside the bearish channel; it was able to test the channel's top border during last week trades ending and it wasn't able to have a good close above it then it reversed down starting this week trades with a continuous gap for the bearish direction, a further drop is expected for it affected by the formed AB=CD pattern which target the support level 1.5495 to end the pattern by the CD wave, with remaining the probability of rising again to retest the resistance level 1.5780 to cover the price gap and also testing the channel's top border. This scenario depends on the resistance level 1.5780. Previous analysis is still remaining till now Res: 1.5760 1.5819 1.5883 Pivot: 1.5696 Sup: 1.5637 1.5573 1.5514 USD/CHF The USD/CHF was able to form a bottom at 0.8640 level, to rise up from this level giving the possibility of forming the harmonic pattern AB=CD, where the mentioned bottom represents the C point for the pattern and the previous top at 0.8928 represents the B point, as if the pair was able to break the B point it will target Initially 0.9000 resistance level then 0.9100 as the pattern final target, but if the B point (0.8928) level held it will push the pair to fall in order to retest the support level 0.8640 that represents the C point. Res: 0.8864 0.8909 0.8943 Pivot: 0.8830 Sup: 0.8785 0.8751 0.8706 USD/CAD On the contrary of what was expected yesterday, the pair broke the resistance level 0.9846 and also broke the neckline of the head and shoulders pattern that has been mentioned in the last analysis, this rising above the neckline menas a weak probability of of forming this pattern of any bearish target, so the pair continued rising till reached the level 0.9933 which represents 61.8% of fibonacci's correction level for the bearish move (from 1.0025 to 0.9783), during the upcoming trades if the pair succeeded to break the support level 0.9933 upside it means more rising till the level 1.0025 and if the pair failed to break this level with the probability of forming a top that will push the pair to decline targeting the level 0.9846 followed by the level 0.9783. Res: 0.9948 0.9994 1.0066 Pivot: 0.9876 Sup: 0.9830 0.9758 0.9712 AUD/USD The AUD/USD pair was able to form a bearish bottom during the previous trades at 1.0147 level, to rise from this level during the current trades, the RSI indicator shows a divergence that reflects the bearish movement, leading the expectations for the pair to rise targeting the resistance level 1.0292 then 1.0382 that represents 38.2% correction level for the bearish move from 1.0763 to 1.0147. This scenario requires the stability of the support level 1.0147. Res: 1.0300 1.0380 1.0447 Pivot: 1.0233 Sup: 1.0153 1.0086 1.0006
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#91
21-09-2011, 09:17
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Wednesday September 21st 2011 GIGFX Technical Analysis Report
EUR/USD
The European currency achieved some gains yesterday by rising against the U.S. dollar reaching the highest price at the level 1.3743, it was expected that the pair will rose targeting to re-test the resistance level 1.3712 that the pair was unable to hold below it till this moment, this level coincides with the bearish trendline for mid-term trades so it is hard to break this area upside, it is expected that the pair will decline again targeting the support level 1.3585 followed by the level 1.3500, this scenario requires the stability of coinciding area of the bearish trendline with the resistance level 1.3712, breaking this area upside means more rising targeting the level 1.3900. Res: 1.3765 1.3829 1.3916 Pivot: 1.3678 Sup: 1.3614 1.3527 1.3463 GBP/ USD The GBP/USD pair is still trading inside the bearish channel; it was able to test the channel's top border during last week trades ending and it wasn't able to have a good close above it then it reversed down starting this week trades with a continuous gap for the bearish direction, a further drop is expected for it affected by the formed AB=CD pattern which target the support level 1.5495 to end the pattern by the CD wave, with remaining the probability of rising again to retest the resistance level 1.5780 to cover the price gap and also testing the channel's top border. This scenario depends on the resistance level 1.5780. Previous analysis is still remaining till now Res: 1.5769 1.5803 1.5860 Pivot: 1.5712 Sup: 1.5678 1.5621 1.5587 USD/CHF The USD/CHF was able to rise during the previous reads reaching 0.8985 price approaching the AB=CD harmonic pattern initial target at 0.9000, it is expected with trading above this level with a good close above it that the pair will have a further rising targeting the resistance level 0.9100, but the stability of the current resistance will push the pair to retest the nearest support level and may lead the pair to the support level 0.8640. Res: 0.8939 0.8994 0.9069 Pivot: 0.8864 Sup: 0.8809 0.8734 0.8679 USD/CAD The USD/CAD pair is still unable to break up the resistance level 0.9933 which represents 61.8% Fibonacci retracement correction level for the bearish wave (from 1.0025 to 0.9783) with a strong signal on declining again to test the support level 0.9875, with breaking it down; a further drop will be indicated till the level 0.9783, this bearish scenario depends on the stability of the resistance level 0.9933, breaking this level up means rising till the level 1.0025. Res: 0.9953 0.9983 1.0019 Pivot: 0.9917 Sup: 0.9887 0.9851 0.9821 AUD/USD As was expected through yesterday report that the AUD/USD pair reached the resistance level 1.0292, this bullish scenario was supported by a positive reversal divergence for the bearish direction, till this moment the pair is unable to break up the resistance level 1.0292 with the strong probability of declining again till the level 1.0230 then the level 1.0147, but in case of breaking up the resistance level 1.0292 means a further rise till the level 1.0382 which represents 38.2% Fibonacci retracement correction level for the bearish direction (from 1.763 to 1.0147). Res: 1.0341 1.0408 1.0505 Pivot: 1.0244 Sup: 1.0177 1.0080 1.0013
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#92
22-09-2011, 09:45
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Thursday September 22nd 2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected through the last analysis, the pair continued declining reaching the support level 1.3585 after it failed to break the resistance level 1.3712 coinciding with the bearish trendline for mid-term trades, the pair continued declining breaking the support level 1.3585 which represents the point B of the harmonic pattern AB=CD which is being forming, it is expected that the pair will continue declining targeting the area of the point D that completes the harmonic pattern and which locates between the level 1.3440 and the support level 1.3385 which represents 127% of fibonacci's continuous level for the bullish move (from 1.3500 to 1.3936), in order to reach this area the pair should break the support level 1.3500. The stability of these expectations requires the stability of the resistance level 1.3630. Res: 1.3724 1.3876 1.3956 Pivot: 1.3644 Sup: 1.3492 1.3412 1.3260 GBP/ USD The pair continued declining inside that bearish channel as it was expected yesterday breaking the support level 1.05565 reaching the support level 1.5495 which was the target of the harmonic pattern AB=CD that has been mentioned in the last analysis, now the pair is still moving around its pivot till now coinciding with testing the bottom border of this bearish channel so it is expected that the pair will continue declining targeting the support level 1.5370 with the probability of existing a correction rise targeting to test the resistance level 1.5565. The stability of these expectations requires the stability of the resistance level 1.05565. Res: 1.5668 1.5837 1.5928 Pivot: 1.5577 Sup: 1.5408 1.5317 1.5148 USD/CHF The USD/CHF was able to rise during the previous treads to pass the resistance level 0.8928 that represents the B point for the harmonic pattern AB=CD which mentioned previously; as the pair was able also to pass the 1ST target for that rising at 0.9000, leading the expectations with the stability of 0.9000 level for further rising for the pair targeting 0.9100 level that represents the expected D point for the pattern, but if the pair traded below 0.9000 level it may search for a good support to retest such as 0.8928 level and if the pair traded below this level it will fall targeting the support level 0.8640 that represents the C point for the pattern. Res: 0.9085 0.9169 0.9331 Pivot: 0.8923 Sup: 0.8839 0.8677 0.8593 USD/CAD On the contrary of what was expected yesterday, the pair rose supported by rising the U.S. dollar against a basket of its major counterparts breaking the resistance level 0.9933, the pair continued rising breaking the resistance levels 100.25 and 1.0090 which represents 127% of fibonacci's continuous level for the bearish move (From 1.0025 to 0.9783), it is expected that the pair will continue rising targeting the resistance level 1.0175 which coincides with the top border of the bullish pitchfork channel for long and mid-term trades. The stability of these expectations requires the stability of the support level 1.0025. Res: 1.0139 1.0202 1.0317 Pivot: 1.0024 Sup: 0.9961 0.9846 0.9783 AUD/USD The AUD/USD pair is forming again the main bearish direction for the medium-term as was expected after breaking down the level 1.0177 and also the level 1.0147, whereas the bearish direction is still dominating the last intraday trades, so it's expected that the bearish move will be continued till the support area between the level 0.9957 which represents 200% Fibonacci retracement continuous level for the bullish direction (from 1.0177 to 1.0397) and the level 0.9925 which represents a long-term pivotal support level. This scenario depends on the stability of the resistance Res: 1.0209 1.0379 1.0467 Pivot: 1.0121 Sup: 0.9951 0.9863 0.9693
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#93
23-09-2011, 09:53
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Friday September 23rd 2011 GIGFX Technical Analysis Report
EUR/USD
The DJ index continued declining breaking the level 10900 which represents 61.8% of fibonacci's correction level for the last bullish wave for mid-term trades breaking the level 10710 which represents 76.4% of fibonacci's correction level for the last bullish wave but it returned to trade around the pivot of this level till now and if the index succeeded to hold above this level it will rise targeting to re-test the resistance level 10900 but if the index was unable to hold above that level it will decline targeting the support level 10570 again. The stability of these expectations requires the stability of the resistance level 10900. Res: 1.3579 1.3697 1.3794 Pivot: 1.3482 Sup: 1.3364 1.3267 1.3149 GBP/ USD The GBP/USD pair continued declining inside the bearish channel as was expected yesterday coinciding with the channel's lower border, it tried yesterday to break it down but it was unable and returned back to trade inside it again, so a further drop is expected for the pair targeting the support level 1.5265 with the probability of a correcting rise retesting the resistance level 1.5565. This scenario depends on the stability of the resistance level 1.5565. Res: 1.5464 1.5586 1.5655 Pivot: 1.5395 Sup: 1.5273 1.5204 1.5082 USD/CHF The USD/CHF was able to rise as was expected during the previous treads to pass the expected target that mentioned through the previous report reaching 0.9184 level forming a top at this level that pushed the pair to fall approaching 0.9000 support level, that top formed the second point for a bullish channel the pair was able to form previously, which supports the bullish direction with the stability of the support levels 0.9000 and 0.8920 with the stability of the channel bottom line, where it is expected during the upcoming trades that the pair will target the retesting of the support level 0.8920 if it was able to pass down 0.9000 level that may coincide with the channel bottom line to push the pair to rise again targeting the retesting of the resistance level 0.9184 again. Res: 0.9187 0.9287 0.9393 Pivot: 0.9081 Sup: 0.8981 0.8875 0.8775 USD/CAD The USD/CAD pair is trying to form a bullish bottom at the support level 10.224, so it's expected during the intraday trades that the pair will retest the resistance level 1.0359 and the stability above this level which will give the pair the chance to target the resistance level 1.0469. This scenario depends on the stability of the support level 1.0224. Res: 1.0409 1.0538 1.0717 Pivot: 1.023 Sup: 1.0101 0.9922 0.9793 AUD/USD The pair declined strongly after breaking the level 1.0170 which represents the top border of the descending triangle which led the pair to decline to the level 0.9690 which represents the target of that broken pattern and formed a bottom at this level which led the pair t rise again re-testing the near resistance level at 0.9840, it is expected that the pair will continue declining targeting the level 0.9525 but under the condition of breaking the support level 0.9690. The stability of these expectations requires the stability of the resistance level 0.9980. Res: 0.9983 1.0225 1.0372 Pivot: 0.9836 Sup: 0.9594 0.9447 0.9205
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#94
18-10-2011, 09:56
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Tuesday october 18th 2011 GIGFX Technical Analysis Report
EUR/USD
Yesterday trades saw declining the pair by breaking the bottom border of the bullish wedge reversal pattern reaching the support level 1.3733 as it was expected through the last analysis, it is expected that the pair will continue forming its bearish correction move by breaking the support level 1.3733 targeting the level 1.3530 which represents the target of the pattern and also represents 50.0% of fibonacci's correction level for the bullish move (from 1.3146 to 1.3914). The stability of these expectations requires the stability of the resistance level 1.3790. Res: 1.3859 1.3981 1.4048 Pivot: 1.3792 Sup: 1.3670 1.3603 1.3481 GBP/ USD The GBP/USD pair has been already declined registering the lowest price for it during yesterday trades at 1.5730 declaring by that getting it out from the bullish reversal short-term wedge pattern, a further drop is expected which is affected by this pattern, the pair will target the support level 1.5665 as it's first target for this bearish move then the support level 1.5535. This scenario depends on the stability of the resistance level 1.5830. Res: 1.5816 1.5889 1.5932 Pivot: 1.5773 Sup: 1.5700 1.5657 1.5584 USD/CHF The pair formed a bearish channel for near and mid-term trades so it is expected that the pair will continue declining targeting the support level 0.9808 as the first target and if the pair held below this level it will target the support level 0.8854 which coincides with the bottom border of the channel. The stability of these expectations requires the stability of the resistance level 0.8989. Res: 0.9032 0.9073 0.9149 Pivot: 0.8956 Sup: 0.8915 0.8839 0.8798 USD/CAD The USD/CAD pair was able to form a wedge pattern that reflects the bearish direction for the last medium and long periods, where the pair has formed a bottom at 1.0042 level to rise from it breaking the pattern top line to settle above 23.6% correction level for the bearish move from 1.0655 to the mentioned bottom, leading the expectations for further rising for the pair during the upcoming short and medium trades targeting 1.0276 level represented by 38.2% correction level which if the pair was able to pass it will target 1.0349 level that represents 50% correction level then 1.0421 representing the pattern final target coinciding with 61.8% correction level. This scenario requires the stability of the support level represented by 23.6% correction level. Res: 1.0357 1.0393 1.0551 Pivot: 1.0199 Sup: 1.0163 1.0005 0.9969 AUD/USD The AUD pair failed yesterday to break the level 1.0360 which led the pair to decline again and broke the level 1.0255 by breaking the bottom border of the bullish channel in which the pair is moving then it rose to re-test the near resistance level at the level 1.0255, it is expected that the pair will continue its declining move reaching the level 1.0010 this level is the target of breaking the bullish channel but under the condition of breaking the level 1.010. The stability of these expectations requires the stability of the resistance level 1.0360. Res: 1.0301 1.0447 1.0524 Pivot: 1.0224 Sup: 1.0078 1.0001 0.9855
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#95
19-10-2011, 09:41
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Wednesday october 19th 2011 GIGFX Technical Analysis Report
EUR/USD
The pair continued declining during yesterday trades to the level 1.3650 as the first target for the bullish wedge pattern, a bottom has been formed at this level which led the pair to rise again to re-test the near resistance level and now it is testing the resistance level 1.3817, breaking this level means more rising targeting to re-test the resistance level 1.3914 but in the case that the pair completed the formation of the top at the level 1.3817 it will decline to the level 1.3650 followed by the level 1.3530 which represents the last target of the pattern and represents 50.0% of fibonacci's correction level for the bullish wave (From 1.3146 to 1.3914). Res: 1.3828 1.3904 1.3992 Pivot: 1.3740 Sup: 1.3664 1.3576 1.3500 GBP/ USD The GBP/USD pair declined as was expected to target the support level 1.5665 which coincides with the first target for this formed reversal (bullish wedge) pattern for the near-term and getting out the price from this pattern; to begin a bearish correction move, as its first target was done by reaching the support level 1.5665, so it's expected that the bearish scenario will be continued till targeting the pair the support level 1.5535 but only after breaking the support level 1.5665. So, it's advised to all traders not to enter any bearish positions; but only in case of breaking the support level 1.5665 with having a good close below it. This scenario depends on the stability of the resistance level 1.5830. Res: 1.5812 1.5912 1.6003 Pivot: 1.5721 Sup: 1.5621 1.5530 1.5430 USD/CHF The pair is still trying to reach its targets after breaking the reversal bearish wedge pattern, although the pair was unable to hold above the resistance level 0.9049 which represents 38.2% of fibonacci's correction level for the bearish direction but it is targeting to re-test this level and if the pair held above this level it will target the resistance level 0.9098 which represents 50.0% of fibonacci's correction level and if the pair held above this level too, it will target the resistance level 0.9152 which represents 61.8% of fibonacci's correction level. The stability of these expectations requires the stability of the support level 0.8984 which represents 23.6% of fibonacci's correction level. Res: 0.9039 0.9094 0.9141 Pivot: 0.8992 Sup: 0.8937 0.8890 0.8835 USD/CAD The USD/CAD pair could not pass the resistance level 1.0276 that represents 38.2% correction level for the bearish move from 1.0655 to 1.0042 to fall from this level breaking 1.0187 level that represents 23.6% correction level, to retest with this move the broken bearish trend line that represents the wedge top line which mentioned previously, that may push the pair to fall in order to retest the support level 1.0042 which represents the previous bottom, which requires the stability of the current resistance level 1.0187. Res: 1.0231 1.0323 1.0384 Pivot: 1.0170 Sup: 1.0078 1.0017 0.9925 AUD/USD The pair failed to break the level 1.0110 and closed above this level which led it to rise again breaking the level 1.0225 then reached the level 1.0360 trying to re-test the bottom border of the broken bullish channel, it is expected that the pair will continue declining and will re-test the level 1.0110 but under the condition of breaking the level 1.0225. The stability of these expectations requires the stability of the resistance level 1.0470. Res: 1.0352 1.0444 1.0562 Pivot: 1.0234 Sup: 1.0142 1.0024 0.9932
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#96
20-10-2011, 09:28
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Thursday october 20th 2011 GIGFX Technical Analysis Report
EUR/USD
It is noticed that the pair is forming the harmonic pattern AB=CD as it formed a top at the level 1.3870 which represents the point C, the pair declined from this top to form the bearish rib CD and it is expected that the pair will continue declining during the upcoming trades targeting the support level 1.3650 which represents the point B, breaking this level means more declining till the level 1.3600 which represents the point D that completes the pattern, it is expected that the pair will continue declining targeting the level 1.3530 as the final target for the bearish wedge pattern but under the condition of breaking the level 1.3600 downside. The stability of these expectations requires the stability of the resistance level 1.3780. Res: 1.3844 1.3928 1.3988 Pivot: 1.3784 Sup: 1.3700 1.3640 1.3556 GBP/ USD After raising the pair during yesterday trades with retesting the resistance level 1.5840 this level has been stabile for the second consecutive time pushed the GBP/USD pair down to be a reversal double consecutive tops pattern for the bullish direction so it's expected that the pair will decline during the intraday trades affected by the formed pattern but confirmation of breaking the pattern's base line at the support level 1.5678 with a good close below it pushing the price to target the support level 1.5592 as it's first target for the formed pattern then the support level 1.5510. This scenario depends on the stability of the resistance level 1.5840. Res: 1.5846 1.5920 1.5994 Pivot: 1.5772 Sup: 1.5698 1.5624 1.5550 USD/CHF As it is noticed through this chart, the pair now is forming a harmonic pattern AB=CD for near and mid-term trades and now it is moving in the range of the last wave CD and during today's trades the pair broke the resistance level 0.9049 which coincides with the point B which may led the pair to complete the harmonic pattern targeting the resistance level 0.9120 which represents the point D. The stability of these expectations requires the stability of the support level 0.9049. Res: 0.9059 0.9092 0.9146 Pivot: 0.9005 Sup: 0.8972 0.8918 0.8885 USD/CAD After the USD/CAD tested the wedge top line that was broken during the previous trades; the pair formed a bottom at 1.0080 that pushed the pair to rise forming a rising harmonic pattern that expected to target 1.0313 resistance level that represent 127% continuous level for the BC wave for the pattern then 1.0376 that represents 161.8% continuous level for the same wave, with a good chance to retest the AC trend line coinciding with the support level 1.0135 support level. Res: 1.0250 1.0298 1.0382 Pivot: 1.0166 Sup: 1.0118 1.0034 0.9986 AUD/USD As it was expected through yesterday analysis, the pair declined to the level 1.0140 which represents 23.6% of fibonacci's correction level for the last bullish wave (from 0.9390 to 1.0370), it is expected that the pair will continue declining to the level 0.9995 which represents 38.2% of the same fibonacci's correction level for the same bullish move and this level is the target of breaking the bullish channel. The stability of these expectations requires the stability of the resistance level 1.0240. Res: 1.0315 1.0408 1.0464 Pivot: 1.0259 Sup: 1.0166 1.0110 1.0017
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#97
21-10-2011, 08:32
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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 GBP/ USD The GBP/USD pair is moving inside the sideway channel since this week trades beginning between the resistance level 1.5840 and the support level 1.5675 which tried to test it yesterday and was unable to break this level which led the pair to reverse up testing the resistance level 1.5840 to move inside the same sideway area, so breaking any of these levels means starting a new direction and if succeeds on breaking this area up so it will immediately target the resistance level 1.5925 but in case of breaking this area down so it will immediately target the support level 1.5596. Res: 1.5833 1.5878 1.5954 Pivot: 1.5757 Sup: 1.5712 1.5636 1.5591 USD/CHF The pair is forming AB=CD harmonic pattern and formed a top at the resistance level 0.9087 which represents the point C trying to complete the last wave CD targeting the support level 0.8655 which represents the point D and now the pair is trying to break the support level 0.8885 which represents the point B and if the pair held below this level it will target the support level 0.8655 which represents the point D. The stability of these expectations requires the stability of the pair below the support level 0.8885. Res: 0.9036 0.9135 0.9189 Pivot: 0.8982 Sup: 0.8883 0.8829 0.8730 USD/CAD The previous analyse remain for the USD/CAD as the pair was able to retest the support level 1.0135 approaching the bullish trend line AC, previously the pair tested the wedge top line that was broken during the previous trades; forming a bottom at 1.0080 that pushed the pair to rise forming a rising harmonic pattern that expected to target 1.0313 resistance level that represent 127% continuous level for the BC wave for the pattern then 1.0376 that represents 161.8% continuous level for the same wave. Res: 1.0221 1.0289 1.0335 Pivot: 1.0175 Sup: 1.0107 1.0061 0.9993 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
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#98
24-10-2011, 08:54
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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 GBP/ USD The GBP/USD pair broke the resistance level 1.5840 during last week trades end to announce it's getting out from this sideway channel which the pair was confined inside it during last week trades, a further rise is expected specially that the pair is trading inside a bullish channel reaching the resistance level 1.5985; if the pair is able to break this level with having a good close above it so it will try to test the resistance level 1.6080 which coincides with the bullish channel's top border. This scenario depends on the stability of the support level 1.5840. Res: 1.6038 1.6114 1.6257 Pivot: 1.5895 Sup: 1.5819 1.5676 1.5600 USD/CHF The pair is in the forming stage of the harmonic pattern AB=CD as it formed a top at the resistance level 0.9087 which represents the point C, the pair declined from this point to form the bearish rib CD so it is expected that the pair will continue declining during the upcoming trades till the support level 0.8655 which represents the point B. The stability of these expectations requires the stability of the resistance level 0.8885. Res: 0.8908 0.9001 0.9052 Pivot: 0.8857 Sup: 0.8764 0.8713 0.8620 USD/CAD The USD/CAD pair continued its falling reaching 1.0050 level that represents the bottom line for the bearish channel the pair moving inside, this acme after the pair was able to pass 1.0110 level, which may push the pair to rise in order to retest the nearest resistance levels that may lead the pair to 1.0265 that may coincide with the channel top line but the pair must pass 1.0130. The scenario above requires the stability of the support level 0.9880 Res: 1.0159 1.0233 1.0280 Pivot: 1.0112 Sup: 1.0038 0.9990 0.9920 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
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#99
25-10-2011, 09:44
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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 GBP/ USD The GBP/USD pair broke the resistance level 1.5840 during last week trades end to announce it's getting out from this sideway channel which the pair was confined inside it during last week trades, a further rise is expected specially that the pair is trading inside a bullish channel reaching the resistance level 1.5985; if the pair is able to break this level with having a good close above it so it will try to test the resistance level 1.6080 which coincides with the bullish channel's top border. This scenario depends on the stability of the support level 1.5840. Previous analysis is still remaining till now Res: 1.6035 1.6074 1.6142 Pivot: 1.5967 Sup: 1.5928 1.5860 1.5821 USD/CHF The pair is in the forming stage of the harmonic pattern AB=CD as it formed a top at the resistance level 0.9087 which represents the point C, the pair declined from this point to form the bearish rib CD so it is expected that the pair will continue declining during the upcoming trades till the support level 0.8655 which represents the point D. The stability of these expectations requires the stability of the resistance level 0.8885. Yesterday analysis is still remaining till now Res: 0.8859 0.8911 0.8945 Pivot: 0.8825 Sup: 0.8773 0.8739 0.8687 USD/CAD The USD/CAD pair continued its falling after it formed a symmetrical triangle pattern that the pair was able to break its bottom line previously confirming that bearish direction with passing 1.0040 level, leading the expectations for further falling for the pair targeting 0.9985 level as the pattern 1ST target then 0.9875 as the final target for the pattern with a chance that the pair may retest one of the nearest resistance levels such 1.0040 level. Res: 1.0080 1.0128 1.0158 Pivot: 1.0050 Sup: 1.0002 0.9972 0.9924 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
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#100
26-10-2011, 08:38
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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 GBP/ USD The GBP/USD pair broke the previous mentioned level 1.5985 yesterday which supports the pair's bullish move inside the bullish channel during the intraday levels targeting the resistance level 1.6080 with the probability of reversing the pair down to retest the support level 1.5985. This scenario depends on the stability of the support level 1.5985. Res: 1.6038 1.6078 1.6119 Pivot: 1.5997 Sup: 1.5957 1.5916 1.5876 USD/CHF The pair is in the forming stage of the harmonic pattern AB=CD as it formed a top at the resistance level 0.9087 which represents the point C, the pair declined from this point to form the bearish rib CD so it is expected that the pair will continue declining during the upcoming trades till the support level 0.8655 which represents the point D, and if the pair failed to break this level it will correct this move targeting the resistance level 0.8885. The stability of these expectations requires the stability of the resistance level 0.8885. Res: 0.8824 0.8871 0.8897 Pivot: 0.8798 Sup: 0.8751 0.8725 0.8678 USD/CAD Unlike the expectations the USD/CAD pair rose during the previous trades to retest the triangle pattern bottom line passing a lot of levels to end above 1.0140 level during the current trades after testing the bottom line for the mentioned triangle, generally the stability of 1.0140 level will push the pair to rise targeting 1.0240 level but if the pair was able to trade below 1.0140 level it will fall targeting 1.0040 level then 0.9985 level. Res: 1.0254 1.0343 1.0476 Pivot: 1.0121 Sup: 1.0032 0.9899 0.9810 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
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#101
27-10-2011, 10:06
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Thursday october 27th 2011 GIGFX Technical Analysis Report
EUR/USD
The pair re-tested the bottom border of the bullish channel for mid-term trades coinciding with the support level 1.3852, the pair formed a bottom at this area during the last intraday trades, the pair is pushed rising from this bottom during the trades of the Asian session market breaking the resistance level 1.3955 in a strong sign to continue rising during the upcoming trades, it is expected that the pair will continue rising targeting the level 1.4075 which represents 161.8% of fibonacci's continuous level for the bearish move (From 1.3914 to 1.3653) followed by the next resistance level at 1.4175. The stability of these expectations requires the stability of the support level 1.3955. Res: 1.3986 1.4067 1.4160 Pivot: 1.3893 Sup: 1.3812 1.3719 1.3638 GBP/ USD The GBP/USD pair's bullish scenario is still dominating the trades till this moment; it formed the (bullish wedge) reversal pattern for the bullish direction which refers to the weakness of this direction and approaching the bearish correction direction for the near-term and the intraday levels but declaring this bearish direction; the formed pattern lower border at the support level 1.5930 must be broken with having a good close below it so the price will get out from the bullish wedge, it's expected that the pair will target the support level 1.5830 as it's first target. Res: 1.6045 1.6117 1.6195 Pivot: 1.5967 Sup: 1.5895 1.5817 1.5745 USD/CHF The pair is in the forming stage of the harmonic pattern AB=CD as it formed a top at the resistance level 0.9087 which represents the point C, the pair declined from this point to form the bearish rib CD so it is expected that the pair will continue declining during the upcoming trades till the support level 0.8644 which represents the point D, and if the pair failed to break this level it will correct this move targeting the resistance level 0.8885. The stability of these expectations requires the stability of the resistance level 0.8885. Previous analysis is still remaining till now Res: 0.8869 0.8928 0.8998 Pivot: 0.8799 Sup: 0.8740 0.8670 0.8611 USD/CAD After the previous rising for the USD/CAD pair, the pair fell after testing the triangle bottom line that mentioned previously, to reach during thye current trades below 0.9985 level trying to pass it, leading the expectations for further falling for the pair targeting 0.9875 that represents the final target for the symmetrical triangle, that requires the pair stability below 0.9985 level, as if the pair traded back above this level it will rise during the upcoming short trades in order to retest 1.0040 then 1.0140 resistance levels. Res: 1.0132 1.0224 1.0273 Pivot: 1.0083 Sup: 0.9991 0.9942 0.9850 AUD/USD The pair rose to the level 1.0490 as it was expected yesterday after failing to break the level 1.0340 which represents the bottom border of the reversal bullish wedge pattern to rise to the level 1.0490 which represents the top border of the pattern and the stability of the resistance level 1.0575 gives a sign of the beginning of declining the pair again, it is expected that the pair will decline targeting the level 1.0410 which represents the bottom border of the pattern and if the pair broke this level it will target the level 1.0230 which represents the first target of breaking the bottom border of the pattern. The stability of these expectations requires the stability of the resistance level 1.30575. Res: 1.0442 1.0486 1.0546 Pivot: 1.0382 Sup: 1.0338 1.0278 1.0234
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#102
28-10-2011, 08:49
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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 GBP/ USD The bullish scenario is still dominating the GBP/USD pair till this moment whereas the price rose yesterday testing the resistance level 1.6105 coinciding with the reversal (bullish wedge) pattern's top border which refers to the weakness of this direction and approaching the bearish correction direction for the near-term but declaring this bearish direction; the formed pattern lower border at the support level 1.5930 must be broken with having a good close below it so the price will get out from the bullish wedge, it's expected that the pair will target the support level 1.5830 as it's first target. Res: 1.6174 1.6249 1.6360 Pivot: 1.6063 Sup: 1.5988 1.5877 1.5802 USD/CHF During yesterday trades, the pair formed the harmonic pattern AB=CD by completing the rib CD at the support level 0.8600 so it is expected that the pair will correct its direction targeting the resistance level 0.8885 which represents the point B for the pattern and if the pair held above this level it will target the resistance level 0.9086 which represents the point C. The stability of these expectations requires the stability of the support level 0.8600. Res: 0.8759 0.8920 0.9016 Pivot: 0.8663 Sup: 0.8502 0.8406 0.8245 USD/CAD As was expected after the previous rising for the USD/CAD pair, the pair fell after testing the triangle bottom line that mentioned previously, to achieve during the current trades the expected target for the pattern around the support level 0.9875, it is expected that the pair will continue its falling to target the support level 0.9790 but the pair must pass the current support 0.9875, with a chance that the pair may rise in order to retest the nearest resistance levels such as 0.9985. Res: 1.0007 1.0107 1.0166 Pivot: 0.9948 Sup: 0.9848 0.9789 0.9689 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
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#103
01-11-2011, 10:04
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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 GBP/ USD The GBP/USD pair was unable to be stabile above the resistance level 1.6105 coinciding with the formed (bullish wedge) reversal pattern's top border then the price reversed down trying to break the pattern's lower border which had already broken, in condition the pair must have a good close below it to target the support level 1.5845 as it's first target. This scenario depends on the stability of the resistance level 1.6035. The previous analysis is still remaining till now Res: 1.6176 1.6270 1.6376 Pivot: 1.6070 Sup: 1.5976 1.5870 1.5776 USD/CHF During the previous trades, the pair formed the harmonic pattern AB=CD by completing the rib CD at the support level 0.8600 so it is expected that the pair will correct its direction targeting the resistance level 0.8885 which represents the point B for the pattern and if the pair held above this level it will target the resistance level 0.9086 which represents the point C. The stability of these expectations requires the stability of the resistance level 0.8885. Res: 0.8830 0.8896 0.9006 Pivot: 0.8720 Sup: 0.8654 0.8544 0.8478 USD/CAD The USD/CAD pair rose previously after reaching 0.9888 level that represents the target of breaking the bottom line for the symmetrical triangle forming a bearish channel for the past medium and long periods, to reach currently 1.0010 level, it is expected that the pair will continue falling during the upcoming trades in order to retest the support level 0.9875 which if the pair was able to pass it will target the support level 0.9790, with a chance that the pair may retest the nearest resistance levels such as 1.0040 then 1.0140 coinciding with the channel top line. Res: 1.0041 1.0089 1.0153 Pivot: 0.9977 Sup: 0.9929 0.9865 0.9817 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
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#104
03-11-2011, 08:59
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Thursday November 3rd 2011 GIGFX Technical Analysis Report
EUR/USD
During yesterday trades, the pair rose re-testing the percentage 50.0% of fibonacci's correction level for the bearish wave (From 1.4525 to 1.3146) forming a bearish top at this level and pushed the pair to decline again to face 38.2% of fibonacci's correction level during the current trades, it is expected that the pair will continue declining but under the condition of breaking the support level 1.3655 which coincides with 38.2% of the same correction level to target the level 1.3471 which coincides with 23.6% correction, but if the mentioned support level held it will push the pair to rise in order to re-test the resistance level 1.3836 which coincides with 50.0% correction level. Res: 1.3837 1.3927 1.4027 Pivot: 1.3737 Sup: 1.3647 1.3547 1.3457 GBP/ USD As was expected yesterday, the GBP/USD pair targeted the support level 1.5880 coinciding with the formed (bullish wedge) pattern's first target which approached from testing it much then it reversed up expecting for it a further correction rise to target the resistance level 1.6040 then declining again to target the support level 1.5880 then the support level 1.5710 which coincides with 50% for the last bullish wave. So it's recommended during the intraday levels to not engage in any sells operations only in case of breaking the support level 1.5880. This scenario depends on the stability of the resistance level 1.6040. Previous analysis is still remaining Res: 1.6025 1.6101 1.6156 Pivot: 1.5970 Sup: 1.5894 1.5839 1.5763 USD/CHF The pair is moving inside a bearish channel and now it is forming a bearish top at the resistance level 0.8869 at which the top border coincides with 23.6% of fibonacci's correction level for the bullish move, the pair is targeting the support level 0.8817 which represents 38.2% of the same mentioned correction level and if the pair held below this level it will target the support level 0.8764 at which the bottom border of the channel coincides with 50.0% of fibonacci's correction level. The stability of these expectations requires the stability of the resistance level 0.8869. Res: 0.8894 0.8954 0.9005 Pivot: 0.8843 Sup: 0.8783 0.8732 0.8672 USD/CAD The USD/CAD pairtraded between the resistance level 1.0222 and the support level 1.0105 previously, as the pair is facing the mentioned resistance level during the current trades after the pair rising during the previous medium trades, breaking one of these levels will determine the pair direction during the upcoming trades, as if the pair was able to pass the resistance level 1.0222 it will continue rising targeting 1.0340 resistance level, but if the current resistance held it will push the pair to fall in order to retest the support level 1.0105, which if the pair was able to pass it will target the support level 0.9985. Res: 1.0202 1.0269 1.0318 Pivot: 1.0153 Sup: 1.0086 1.0037 0.9970 AUD/USD As it was expected through yesterday analysis the pair declined to the level 1.0205 which represents the target of breaking out the bottom border of the bullish channel which represents also 38.2% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) after the pair failed to break the resistance level 1.0410 which represents 23.6% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) which led the pair to decline breaking the support level 1.0290 it is expected that the pair will continue declining targeting the level 1.0050 which represents 38.2% of fibonacci's correction level of the same mentioned wave but under the condition of breaking the support level 1.0205. The stability of these expectations requires the stability of the reistance level 1.0410. Res: 1.0434 1.0504 1.0582 Pivot: 1.0356 Sup: 1.0286 1.0208 1.0138
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#105
03-11-2011, 09:52
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Thursday November 3rd 2011 GIGFX Technical Analysis Report
EUR/USD
During yesterday trades, the pair rose re-testing the percentage 50.0% of fibonacci's correction level for the bearish wave (From 1.4525 to 1.3146) forming a bearish top at this level and pushed the pair to decline again to face 38.2% of fibonacci's correction level during the current trades, it is expected that the pair will continue declining but under the condition of breaking the support level 1.3655 which coincides with 38.2% of the same correction level to target the level 1.3471 which coincides with 23.6% correction, but if the mentioned support level held it will push the pair to rise in order to re-test the resistance level 1.3836 which coincides with 50.0% correction level. Res: 1.3837 1.3927 1.4027 Pivot: 1.3737 Sup: 1.3647 1.3547 1.3457 GBP/ USD As was expected yesterday, the GBP/USD pair targeted the support level 1.5880 coinciding with the formed (bullish wedge) pattern's first target which approached from testing it much then it reversed up expecting for it a further correction rise to target the resistance level 1.6040 then declining again to target the support level 1.5880 then the support level 1.5710 which coincides with 50% for the last bullish wave. So it's recommended during the intraday levels to not engage in any sells operations only in case of breaking the support level 1.5880. This scenario depends on the stability of the resistance level 1.6040. Previous analysis is still remaining Res: 1.6025 1.6101 1.6156 Pivot: 1.5970 Sup: 1.5894 1.5839 1.5763 USD/CHF The pair is moving inside a bearish channel and now it is forming a bearish top at the resistance level 0.8869 at which the top border coincides with 23.6% of fibonacci's correction level for the bullish move, the pair is targeting the support level 0.8817 which represents 38.2% of the same mentioned correction level and if the pair held below this level it will target the support level 0.8764 at which the bottom border of the channel coincides with 50.0% of fibonacci's correction level. The stability of these expectations requires the stability of the resistance level 0.8869. Res: 0.8894 0.8954 0.9005 Pivot: 0.8843 Sup: 0.8783 0.8732 0.8672 USD/CAD The USD/CAD pairtraded between the resistance level 1.0222 and the support level 1.0105 previously, as the pair is facing the mentioned resistance level during the current trades after the pair rising during the previous medium trades, breaking one of these levels will determine the pair direction during the upcoming trades, as if the pair was able to pass the resistance level 1.0222 it will continue rising targeting 1.0340 resistance level, but if the current resistance held it will push the pair to fall in order to retest the support level 1.0105, which if the pair was able to pass it will target the support level 0.9985. Res: 1.0202 1.0269 1.0318 Pivot: 1.0153 Sup: 1.0086 1.0037 0.9970 AUD/USD As it was expected through yesterday analysis the pair declined to the level 1.0205 which represents the target of breaking out the bottom border of the bullish channel which represents also 38.2% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) after the pair failed to break the resistance level 1.0410 which represents 23.6% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) which led the pair to decline breaking the support level 1.0290 it is expected that the pair will continue declining targeting the level 1.0050 which represents 38.2% of fibonacci's correction level of the same mentioned wave but under the condition of breaking the support level 1.0205. The stability of these expectations requires the stability of the reistance level 1.0410. Res: 1.0434 1.0504 1.0582 Pivot: 1.0356 Sup: 1.0286 1.0208 1.0138
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#106
04-11-2011, 08:55
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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 GBP/ USD As was expected yesterday, the GBP/USD pair targeted the support level 1.5880 coinciding with the formed (bullish wedge) pattern's first target which approached from testing it much then it reversed up expecting for it a further correction rise to target the resistance level 1.6040 then declining again to target the support level 1.5880 then the support level 1.5710 which coincides with 50% for the last bullish wave. So it's recommended during the intraday levels to not engage in any sells operations only in case of breaking the support level 1.5880. This scenario depends on the stability of the resistance level 1.6040. Previous analysis is still remaining Res: 1.6104 1.6174 1.6288 Pivot: 1.5990 Sup: 1.5920 1.5806 1.5736 USD/CHF The pair is moving inside a bearish channel and formed a bullish bottom at the support level 0.8761 at which the bottom border of the channel coincides with 50.0% of fibonacci's correction level for the bullish direction, it is expected that the pair will target the resistance level 0.8814 which represents 38.2% of fibonacci's correction level and if the pair held below this level it will target the resistance level 0.8870 at which the top border of the channel coincides with 23.6% of the same correction levels. The stability of these expectations requires the stability of the support level 0.8754. Res: 0.8863 0.8944 0.8995 Pivot: 0.8812 Sup: 0.8731 0.8680 0.8599 USD/CAD The USD/CAD paircould not pass the resistance level 1.0222 to fall passing 1.0105 level during the previous short trades, the pair rose to retest the area between 1.0105 and 1.0125 levels, which if held it will push the pair to fall targeting 1.0015 support level, but if the pair held above 1.0125 level it will rise in order to retest 1.0222 resistance level. Res: 1.0176 1.0276 1.0337 Pivot: 1.0115 Sup: 1.0015 0.9954 0.9854 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
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#107
09-11-2011, 09:49
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Wednesday November 9th 2011 GIGFX Technical Analysis Report
EUR/USD
It is noticed that the pair formed a near-term bullish channel during the last trades and now the pair is trading below the resistance level 1.3847 which represents 50.0% of fibonacci's correction level for the bearish wave (From 1.4547 to 1.3146, it is expected that the pair will continue declining targeting to re-test the bottom border of the mentioned channel and if the pair succeeded to do with breaking the level 1.3681 so it will continue declining targeting the level 1.3477 which represents 23.6% of fibonacci's correction level, but if the pair broke the top border of the triangle pattern with breaking the resistance level 1.3847 it will rise targeting the level 1.4012 which represents 61.8% of fibonacci's correction level, this may coincides with re-testing the top border of the mentioned channel. Res: 1.3878 1.3922 1.3999 Pivot: 1.3801 Sup: 1.3757 1.3680 1.3636 GBP/ USD The GBP/USD pair is moving up for the near-term and the intraday levels till it tested the resistance level 1.6130 which is still holding till this moment against testing it, the pair formed a reversal pattern for the bullish direction which threatens weakness this direction; if the resistance level 1.6130 still holding so the pair broke the pattern's lower border and also it will target during the intraday trades reaching the support level 1.6000 as it's first target then the support level 1.5925. This scenario depends on the stability of the resistance level 1.6130. Res: 1.6133 1.6178 1.6228 Pivot: 1.6083 Sup: 1.6038 1.5988 1.5943 USD/CHF The pair rose to the level 0.9065 which coincides with the top border of the reversal bullish wedge pattern, the pair failed to break this level which led the pair to decline again and broke the support level 0.9000 reaching the support level 0.8935 which coincides with the bottom border of the same pattern which may led the pair to rise again and it is expected that the pair will rise to re-test the resistance level 0.9065 but under the condition of breaking the level 0.9000. The stability of these expectations requires the stability of the support level 0.8875. Res: 0.9034 0.9122 0.9179 Pivot: 0.8977 Sup: 0.8889 0.8832 0.8744 USD/CAD The USD/CAD pair was unable to override the level 1.0222 during the previous trades which pushed the pair down reaching the support level 1.0075, the pair will rise again during the current trades, in case of the mentioned support's level stability; the pair will target the resistance level 1.0222 and in case of declining the pair and overcome the level 1.0075 so it will target the support level 0.999. Res: 1.0152 1.0218 1.0256 Pivot: 1.0114 Sup: 1.0048 1.0010 0.9944 AUD/USD The pair is trading in a narrow range between the support level 1.0285 and the resistance level 1.0410 which represents 23.6% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725), it is expected that the pair will decline targeting to re-test the support level 1.0215 which represents 38.2% of the same correction levels but under the condition of breaking the support level 1.0285. The stability of these expectations requires the stability of the resistance level 1.0495. Res: 1.0442 1.0484 1.0564 Pivot: 1.0362 Sup: 1.0320 1.0240 1.0198
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#108
11-11-2011, 08:18
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Friday November 11th 2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected through the last analysis, the pair declined breaking the bottom border of the bullish channel for near-term with the symmetric triangle due to the stability of the resistance level 1.3847 which represents 50.0% of fibonacci's correction level for the bearish move (from 1.4547 to 1.3146), the pair reached the level 1.3477 which represents the target of the mentioned patterns and also coincides with 23.6% of fibonacci's correction level, it is expected that if the pair tended to decline during the upcoming near-term trades it has to break the level 1.3477 then it will target the level 1.3360, but if the level 1.3477 held it may push the pair to rise in order to re-test the near resistance level such as 1.3681. Yesterday analysis is still remaining till now Res: 1.3678 1.3749 1.3846 Pivot: 1.3581 Sup: 1.3510 1.3413 1.3342 GBP/ USD As was expected yesterday, after the GBP/USD pair formed the (reversal bullish wedge) for the near-term and the intraday levels, the pair declined breaking the wedge's lower border targeting the support level 1.5925; the negative signals are still appearing till now so forming the (double consecutive tops) reversal pattern for the bullish direction through the mid and near-terms is noticed , this pattern represents the support level 1.5890 which is the baseline for this pattern, if the price broke this level with a good close below it; the price will target to reach the support level 1.5750 as it's first target for this formed pattern. This scenario depends on the stability of the resistance level 1.6000. Previous analysis is still remaining till now Res: 1.5989 1.6045 1.6106 Pivot: 1.5928 Sup: 1.5872 1.5811 1.5755 USD/CHF The pair is moving inside a bullish channel for near and mid-term trades, trying to form a bullish bottom at the support level 0.9030 which coincides with the bottom border of the channel so it is expected that the pair will rise targeting to re-test the resistance level 0.9123 and if the pair held above this level it will target the resistance level 0.9202 which coincides with the top border of the channel. The stability of these expectations requires the stability of the support level 0.9030. Res: 0.9105 0.9161 0.9173 Pivot: 0.9093 Sup: 0.9037 0.9025 0.8969 USD/CAD After the USD/CAD pair is moving between a short bullish channel range, as the pair rose during the previous trades testing the resistance level 1.0222 coinciding with 50% correction level for the bearish move from 1.0655 to 0.9889 forming the top board for the channel, the pair direction remain bearishly as long as the pair remain below 50% correction level, as it is expected for the pair to fall in order to retest the support level 1.0075 which may cause the breaking of the channel coinciding with 23.6% correction level leading the pair to the bearish direction, but breaking up 50% correction level at 1.0272 will push the pair to rise targeting 1.0340 level coinciding with 61.8% correction level. Res: 1.0232 1.0299 1.0334 Pivot: 1.0197 Sup: 1.0130 1.0095 1.0028 AUD/USD As it was expected through yesterday report, the pair declined to the level 1.0055 which represents 50.0% of fibonacci's correction level for the last bullish wave (from 0.9380 to 1.0725) after breaking the support level 1.0130 and after standing at the level 1.0055 with no breaking which led the pair to rise again to re-test the near resistance level at 1.0215 which represents 38.2% of fibonacci's correction level for the same last bullish wave, it is expected that the pair will continue declining targeting the support level 0.9900 which represents 61.8% of the same correction levels but under the condition of breaking the support level 1.0055. The stability of these expectations requires the stability of the resistance level 1.0215. Res: 1.0216 1.0290 1.0372 Pivot: 1.0134 Sup: 1.0060 0.9978 0.9904
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#109
15-11-2011, 07:45
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Tuesday November 15th 2011 GIGFX Technical Analysis Report
EUR/USD
The bearish direction is still dominating the expectations of the pair after holding the level 1.3477 which pushed the pair rising during the last trades re-testing the bottom border of the bottom border of the symmetric triangle and the bullish channel that has been broken before, it is expected that the pair will decline during the upcoming trades trying to reach the support level 1.3681 which represents 38.2% of fibonacci's correction level for the bearish wave (From 1.4547 to 1.3146) targeting the support level 1.3477 coinciding with 23.6% followed by 1.3360 this expectation depends on the stability of the current resistance level 1.3681 which with its breaking the pair will target a higher resistance level such as 1.3847 coinciding with 38.2% of the same correction levels. Res: 1.3765 1.3898 1.3985 Pivot: 1.3678 Sup: 1.3545 1.3458 1.3325 GBP/ USD The resistance level 1.6115 held against testing the price for it which lead on reversing the price down targeting the support level 1.5850 as was expected through yesterday report, a further drop is expected for the near-term and intraday levels but only in condition of breaking the support level 1.5850 with a good close below it; then reaching the pair the support level 1.5720 will be expected. This scenario depends on the stability of the resistance level 1.5965. Res: 1.6039 1.6169 1.6249 Pivot: 1.5959 Sup: 1.5829 1.5749 1.5619 USD/CHF The pair formed a bullish channel for near and mid-term trades during the last trades as it formed a bullish bottom at the support level 0.8961 which coincides with the bottom border of the channel targeting to re-test the resistance level 0.9153 and if the pair held above this level it will target the resistance level 0.9268 as the second target. The stability of these expectations requires the stability of the support level 0.8999. Res: 0.9128 0.9175 0.9259 Pivot: 0.9044 Sup: 0.8997 0.8913 0.8866 USD/CAD After the USD/CAD pair remain moving between a short bullish channel range, as the pair fell during the previous trades testing the support level 1.0075 coinciding with 23.6% correction level for the bearish move from 1.0655 to 0.9889, to rise from this level facing 23.6% correction level during the current trades, generally the pair direction remain bearishly as long as the pair remain below 50% correction level around 1.0272 price which is possible for the pair to retest during the upcoming short trades, but breaking the mentioned resistance level supports the bullish direction that will push the pair to target initially the resistance level 1.0340 coinciding with 61.8% correction level. The previous analyse remains Res: 1.0211 1.0257 1.0323 Pivot: 1.0145 Sup: 1.0099 1.0033 0.9987 AUD/USD As it was expected through yesterday analysis, the pair declined to the support level 1.0160 after breaking the support level 1.0215 which represents 38.2% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) and it closed below this level and rose to re-test this level again so it is expected that the pair will continue declining targeting the support level 1.0055 which represents 50.0% of the same fibonacci's levels but under the condition of breaking the support level 1.0125. The stability of these expectations requires the stability of the resistance level 1.0355. Res: 1.0310 1.0417 1.0492 Pivot: 1.0235 Sup: 1.0128 1.0053 0.9946
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#110
16-11-2011, 08:15
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Wednesday November 16th 2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected yesterday, the bearish direction is still dominating the trades of the pair and now the pair is trading below the level 1.3477 which represents 23.6% of fibonacci's correction level for the bearish wave (From 1.4547 to 1.3146), it is expected that, with holding the pair below this level it will target the support level 1.3360 followed by 1.3146 but if the pair held above the level 1.3477 it will target the near resistance level 1.3681 which represents 38.2% of fibonacci's correction level. Res: 1.3620 1.3703 1.3765 Pivot: 1.3558 Sup: 1.3475 1.3413 1.3330 GBP/ USD The GBP/USD pair declined yesterday after failing the support level 1.5850 on holding against testing the price for it, a further drop is expected during the intraday trades affected by getting out the price from this bullish channel which was the pair moving inside it during the mid-term targeting the support level 1.5645 with the probability of retesting the resistance level 1.5850 to find a top at it to help in continuing the bearish direction. This scenario depends on the stability of the resistance level 1.5850. Res: 1.5902 1.5982 1.6034 Pivot: 1.5850 Sup: 1.5770 1.5718 1.5638 USD/CHF The pair is still trading inside a bullish channel that has been formed during the last trades for near and mid-term trades and it continued rising breaking the resistance level 0.9249 and if the pair held above this level it will target the resistance level 0.9303 as the second target. The stability of these expectations requires the stability of the support level 0.9153. Res: 0.9205 0.9262 0.9326 Pivot: 0.9141 Sup: 0.9084 0.9020 0.8963 USD/CAD The USD/CAD pair is facing during the current trades the resistance level 1.0272 that represents 50% correction level for the bearish move from 1.0655to 0.9889, as if this level held it will push the pair to fall searching for the nearest support levels such 1.0182 that represents 38.2% correction level, but breaking up this level will push the pair to continue the previous bullish direction in order to target higher resistance levels such as the resistance area between 1.0340 and 1.0362 levels then 1.0474 level that represents 76.4% correction level. Res: 1.0261 1.0313 1.0366 Pivot: 1.0208 Sup: 1.0156 1.0103 1.0051 AUD/USD As it was expected yesterday, the pair dropped to the support level 1.0055 which represents 50.0% of fibonacci's correction level for the last bullish wave (from 0.9380 to 1.0725) after it succeeded to break the support level 1.0125 which led the pair to drop again, it is expected that the pair will continue declining targeting the support level 0.9900 which represents 61.8% of fibonacci's correction level for the last bullish wave (from 0.9380 to 1.0725) but under the condition of breaking the support level 1.0055 with stability below it. The stability of these expectations requires the stability of the resistance level 1.0215. Res: 1.0230 1.0283 1.0342 Pivot: 1.0171 Sup: 1.0118 1.0059 1.0006
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#111
18-11-2011, 08:21
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Friday November 20th 2011 GIGFX Technical Analysis Report
EUR/USD
Yesterday trades were confusing between rising and declining and it were in a narrow range that reflects the collecting of the needed momentum which will determine the next direction of the pair as it is waited that the pair will break the resistance level 1.3555 which represents the top of the double bottom pattern then it will rise targeting the level 1.3719 which represents the target of the pattern, it is expected that the price will coincide with the top border of the bearish channel in which the pair is still moving at the level 1.3719. The stability of these expectations requires the stability of the support level 1.3422. Res: 1.3524 1.3590 1.3641 Pivot: 1.3473 Sup: 1.3407 1.3356 1.3290 GBP/ USD The support level 1.5720 held against testing the GBP/USD pair for it during yesterday trades as was expected forming the harmonic (Gartley) pattern which is moving now within the last CD wave for this pattern so it's expected during the next intraday trades that the pair will raise till targeting the resistance level 1.5858 which is the CD wave target to continue the negative harmonic pattern reversing down again till the pattern's B point at the level 1.5785. This scenario depends on the stability of the resistance level 1.5858. Res: 1.5812 1.5872 1.5933 Pivot: 1.5751 Sup: 1.5691 1.5630 1.5570 USD/CHF The pair is still moving inside the bearish channel for near and mid-term trades and it is trying to continue gaining targeting to re-test the resistance level 0.9249 and if the pair held above this level it will target the resistance level 0.9351 as the second target. The stability of these expectations requires the stability of the support level 0.9173. Res: 0.9253 0.9287 0.9338 Pivot: 0.9202 Sup: 0.9168 0.9117 0.9083 USD/CAD As observed that, the USD/CAD pair formed bullish wedge which reflects the weakness of this mid-term bullish direction during the previous trades so it's expected during the next intraday trades that the pair will give up on some of its previous gains so it's expected that the pair will decline targeting the support level 1.0286 which coincides with the pair's lower border and breaking this level will enhance the bearish direction targeting the support level 1.0150. This scenario depends on the stability of the resistance level 1.0303. Res: 1.0319 1.0350 1.0408 Pivot: 1.0261 Sup: 1.0230 1.0172 1.0141 AUD/USD The pair declined to the support level 0.9975 after it succeeded to break the support level 1.0055 which represents 50.0% of fibonacci's correction level for the last bullish wave (from 0.9380 to 1.0725) then the pair rose to re-test the resistance level 1.0055, it is expected that the pair will continue declining targeting the support level 0.9900 which represents 61.8% of fibonacci's correction level for the same bullish wave but under the condition of breaking the support level 0.9975 with stability below it. The stability of these expectations requires the stability of the resistance level 1.0125. Res: 1.0086 1.0173 1.0230 Pivot: 1.0029 Sup: 0.9942 0.9885 0.9798
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#112
21-11-2011, 08:30
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Monday November 21th 2011 GIGFX Technical Analysis Report
EUR/USD
The trades of the end of the last week saw more rising for the European currency against the U.S. dollar whereas the pair continued rising till reached the level 1.3617 which represents 50.0% of fibonacci's correction level for the bearish wave (From 1.3811 to 1.3422) forming a top that pushed the pair downside to the support level 1.3514 at the beginning of this week trades the pair was trading around the support level 1.3514, breaking this level downside means more declining to the next support level at 1.3422 but if the pair held above this level it will rise targeting the resistance level 1.3617 which with its breaking upside means more rising to the level 1.3662 followed by 1.3719. Res: 1.3606 1.3693 1.3773 Pivot: 1.3526 Sup: 1.3439 1.3359 1.3272 GBP/ USD The resistance level 1.5885 held against testing the GBP/USD pair for it as was expected through last week report which coincides with 50% for the last short-term bearish wave; expecting that the pair will form the AB=CD harmonic pattern whereas the price is moving inside the pattern's last CD wave which targets the support level 1.5490 but in condition of breaking the support level 1.5690 with having a good close below it; a further drop is expected for the pair targeting the level 1.5490 as a end for this formed harmonic pattern. This scenario depends on the stability of the resistance level 1.5885. Res: 1.5878 1.5957 1.6027 Pivot: 1.5808 Sup: 1.5729 1.5659 1.5580 USD/CHF The pair is trading inside a bullish channel that has been formed for near and mid-term trades whereas the pair is trying to gain more profits targeting to re-test the resistance level 0.9230 and if the pair held above this level it will target the resistance level 0.9407 as the second target. The stability of these expectations requires the stability of the support level 0.9135. Res: 0.9230 0.9296 0.9369 Pivot: 0.9157 Sup: 0.9091 0.9018 0.8952 USD/CAD The USD/CAD pair is moving around 1.0272 resistance level that represents 50% correction level for the bearish move from 1.0655 to 0.9889 forming a bullish wedge that may push the pair to face the resistance area between 1.0340 and 1.0362, leading the expectations for an upcoming bearish move that will be confirmed by breaking the wedge bottom line targeting the support level 1.0182 coinciding with 38.2% correction level then 1.0075 coinciding with 23.6% correction level, which depend on the stability of the resistance area between 1.0340 and 1.0362 levels, as if the pair was able to trade above this area it may rise strongly to target the resistance level 1.0474 the represents 76.4% correction level. Res: 1.0313 1.0358 1.0416 Pivot: 1.0255 Sup: 1.0210 1.0152 1.0107 AUD/USD The pair is still moving inside a bearish channel for near and mid-term trades whereas the pair is trying to break downside the support level 0.9940 which coincides with the bottom border of the channel and in this case it will form a bearish wave targeting the support level 0.9875 followed by 0.9820. If the pair failed to break the coinciding area it will rise targeting to test the resistance level 1.0115. Res: 1.0084 1.0166 1.0227 Pivot: 1.0023 Sup: 0.9941 0.9880 0.9798
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#113
22-11-2011, 08:35
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Tuesday November 22nd 2011 GIGFX Technical Analysis Report
EUR/USD
As it was expected yesterday, the pair succeeded to break the support level 1.3514 and continued declining till reached the support level 1.3422 to form a new bottom at this area that the pair will use it to rise again, during the last intraday trades the pair was trying to break the level 1.3514 upside, this level became a resistance level and if the pair succeeded to break this level it will continue rising targeting the level 1.3617 again. The stability of these expectations requires the stability of the support level 1.3422. Res: 1.3542 1.3596 1.3652 Pivot: 1.3486 Sup: 1.3432 1.3376 1.3322 GBP/ USD The GBP/USD pair declined yesterday targeting the support level 1.5690 which represents the AB=CD harmonic pattern B point during the near-term trades which targets the support level 1.5490 as an end for the CD wave and also for the pattern; so it's expected during the intraday trades that the pair will continue declining till targeting this level. This scenario depends on the stability of the resistance level 1.5690. Res: 1.5756 1.5872 1.5945 Pivot: 1.5683 Sup: 1.5567 1.5494 1.5378 USD/CHF The pair failed to hold above the support level 0.9171 during the Asian session trades, this support level coincides with the bottom border of the bullish channel and if the pair broke out this channel with stability below, it will target the support level 0.9081 which represents 23.6% of fibonacci's correction level for the last bullish wave (From 0.8567 to 0.9236) and if the pair held below this level it will target the support level 0.8983 which represents 38.2% of the same levels. The stability of these expectations requires the stability of the pair below the support level 0.9171. Res: 0.9207 0.9242 0.9276 Pivot: 0.9173 Sup: 0.9138 0.9104 0.9069 USD/CAD The USD/CAD pair rose previously to trade above 1.0362 level forming the shape of a bullish channel , where it was able to form its top line during the previous trades, it is expected after this rising that the pair will fall in order to search for a good support level to continue the current rising, which may lead the pair to retest the support level 1.0300 then 1.0272 represented by 50% correction level for the bearish move from 1.0655 to 0.9889 and may coincide with the channel bottom line, generally the upcoming rising targets the resistance level 1.0474 that represents 76.4% correction level. Res: 1.0453 1.0509 1.0602 Pivot: 1.0360 Sup: 1.0304 1.0211 1.0155 AUD/USD The pair continued declining reaching the support level 0.9805 after it succeeded to break the support level 0.9900 which represents 61.8% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) and it failed to break the support level 0.9805 which led the pair to rise again in order to re-test the resistance level 0.9900, it is expected that the pair will continue declining targeting the support level 0.9700 which represents 76.4% of the same fibonacci's correction levels but under the condition of breaking the support level 0.9805. The stability of these expectations requires the stability of the resistance level 0.9975. Res: 0.9966 1.0092 1.0171 Pivot: 0.9887 Sup: 0.9761 0.9682 0.9556
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#114
24-11-2011, 08:03
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Thursday November 23rd 2011 GIGFX Technical Analysis Report
EUR/USD
Breaking the bottom border of the symmetric triangle pattern was the reason behind exiting the pair from the confusion area to continue declining inside the bearish channel, the pair succeeded to break the support level 1.3422 downwards till reached the level 1.3320 which coincides with the bottom border of the channel and also represents 161.8% of fibonacci's continues level for the bullish wave (from 1.3422 to 1.3617), after rising the pair from the formed bottom at the level 1.3320 during the last trades it is expected that the pair will re-test the level 1.3422 which became a resistance level, breaking the level 1.3422 upwards means more rising targeting the next resistance level at 1.3320. The stability of these expectations requires the stability of the support level 1.3320. Res: 1.3397 1.3608 1.3686 Pivot: 1.3397 Sup: 1.3264 1.3186 1.3053 GBP/ USD The GBP/USD pair continued declining till reaching support level 1.5490, AB=CD which was mentioned inside the bearish channel coinciding with the channel's lower border expecting for it to continue holding; and also to support the pair on it's correction near0term trades searching for a new top for this bearish direction which is expected to be near the resistance level 1.5685 coinciding with the channel's top border; confirmation for this scenario; a positive divergence must be appeared with the stochastic index as noticed in the chart. This scenario depends on the stability of the support level 1.5490. Res: 1.5620 1.5717 1.5780 Pivot: 1.5557 Sup: 1.5460 1.5397 1.5300 USD/CHF During the last trades, the pair confused inside the sideway channel between the resistance level 0.9219 which coincides with the top border of the channel and the support level 0.9104 which coincides with the bottom border of the channel so it is expected that the pair will target the support level 0.9104 and if the pair broke this level with stability below, it will target the support level 0.9039 followed by the level 0.8977. But if the pair closed above the resistance level 0.9219 with stability above, it will target the resistance level 0.9280 followed by the resistance level 0.9337. Res: 0.9233 0.9266 0.9319 Pivot: 0.9180 Sup: 0.9147 0.9094 0.9061 USD/CAD The USD/CAD rose previously to reach 1.0474 level that represents 76.4% correction level for the bearish move from 1.0655 to 0.9889 which was expected previously, the pair was able to form a head and shoulders pattern during the previous long periods which expected to push the pair above 1.0474 level to target then 1.0655 level that represents the previous top, but if the pair traded below this level will push the pair to fall targeting the nearest support levels such 1.0362 represented by 61.8% correction level. Res: 1.0528 1.0573 1.0651 Pivot: 1.0450 Sup: 1.0405 1.0327 1.0282 AUD/USD As it was expected yesterday, the pair succeeded to continue declining reaching the support level 0.9700 which represents 76.4% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725) which coincides also with the bottom border of the bearish channel in which the pair is moving which has been formed for the near-term and intraday levels, it is expected that the pair will rise correctly standing on the support level 0.9700 in order to re-test the resistance level 0.9805 but under the condition of holding the pair above the support level 0.9700. The stability of these expectations requires the stability of the support level 0.9605. Res: 0.9807 0.9928 1.0000 Pivot: 0.9735 Sup: 0.9614 0.9542 0.9421
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#115
25-11-2011, 08:12
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Friday November 25th 2011 GIGFX Technical Analysis Report
EUR/USD
The pair is still forming a bearish direction for near and mid-term trades through moving inside a bearish channel, the pair continued declining reaching the level 1.3303 which represents 161.8% of fibonacci's continuous level for the bullish wave (From 1.3422 to 1.3617), existing the reversal positive divergence appeared from the stochastic index is noticed and this is a strong sign of the probability of forming a corrective bullish direction that will be confirmed with holding the level 1.3303 and if the pair broke the resistance level 1.3350, this scenario requires the stability of the level 1.3303, breaking this level means more declining targeting the next support level 1.3230. Res: 1.3399 1.3451 1.3493 Pivot: 1.3357 Sup: 1.3305 1.3263 1.3211 GBP/ USD The bearish scenario is still dominating the GBP/USD pair till now, the pair broke the support level 1.5490 which is still trading below this level whereas the price is in process of forming a reversal bearish wedge pattern for this bearish direction but confirming this pattern depends on getting out the price from this pattern with breaking the pattern's top border, it's expected that the pair will target the resistance level 1.5565 as it's first target then the resistance level 1.5660. This scenario depends on the stability of the support level 1.5430. Res: 1.5545 1.5595 1.5626 Pivot: 1.5514 Sup: 1.5464 1.5433 1.5383 USD/CHF The pair failed to hold below the resistance level 0.9220 which coincides with the top border of the sideway channel and then the pair rose breaking this level so it is expected that the pair will continue rising targeting the resistance level 0.9280 as the first target and if the pair held above this level it will target the level 0.9337 as the second target. The stability of these expectations requires the stability of the support level 0.9220. Res: 0.9222 0.9250 0.9285 Pivot: 0.9187 Sup: 0.9159 0.9124 0.9096 USD/CAD The USD/CAD pair declined to retest the support level 1.0435 and it was unable to break this level which pushed it up again reaching the resistance level 1.0490 which represents 76.4%Fibonacci retracement correction level for the last bearish wave extending (from 1.0655 to 0.9895), it's expected that the pair will rise to retest the resistance level 1.0540 coinciding with the bullish channel's top border which was formed for the intraday levels and also the pair is moving inside it, then declining again in condition the resistance level 1.0490 must be broken. This scenario depends on the stability of the support level 0.9605. Res: 1.0491 1.0518 1.0545 Pivot: 1.0464 Sup: 1.0437 1.0410 1.0383 AUD/USD The pair rose to test the resistance level 0.9805 and failed to break this level which led the pair to decline again reaching the support level 0.9700 which represents 76.4% of fibonacci's correction level for the last bullish wave (From 0.9380 to 1.0725), it is expected that the pair will rise again trying to break the resistance level 0.9805 reaching the resistance level 0.9900 which represents 61.8% of the same fibonacci's correction level which coincides with the top border of the bearish channel but under the condition of holding the support level 0.9700. The stability of these expectations requires the stability of the support level 0.9605. Res: 0.9783 0.9835 0.9885 Pivot: 0.9733 Sup: 0.9681 0.9631 0.9579
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#116
13-01-2012, 08:56
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Re: GIGFX Technical Analysis (Updated Daily)
EUR/USD
The EUR/USD pair rose through yesterday trades; after testing the support level 1.2669 to currently trade above the level 1.2815 which consistently predicts the near-term bullish move moreover it may push the pair initially till the resistance level 1.2915, but trading the pair below the level 1.2815 will push it down again in order to retest the support level 1.2669, Generally the pair movement will be bearish for the long and mid-terms, Unless the sovereign debt crisis in the euro zone is solved with a radical solution, whereas it’s Considered that the near-term bullish moves is a correction moves partly as a result of investors optimism. R3 R2 R1 P S1 S2 S3 1.3016 1.2930 1.2873 1.2787 1.2730 1.2644 1.2587 GBP/ USD The GBP/USD pair failed to break down the support level 1.5309 through yesterday trades in order to form a bottom pushed it up again to retest the nearest resistance levels, whereas through the last intraday trades it tested the resistance level 1.5375 which represents the B point for the AB=CD harmonic pattern, breaking this level with breaking up the bearish trendline which matches between the A and C points means continuing the bullish move till the resistance level 1.5500, forming a bearish top at the resistance level 1.5375 coinciding area with the bearish trendline means a further drop in order to break down the level 1.5309 then reaching the confined area between the support levels 1.5205 and 1.5175 which represents the harmonic pattern’s complement D point. R3 R2 R1 P S1 S2 S3 1.5460 1.5413 1.5372 1.5325 1.5284 1.5237 1.5196 USD/CHF The pair declined strongly during yesterday trades to break the support level 0.9485 which represents 38.2% of fibonacci's correction level for the last bullish wave (From 0.9305 to 0.9595) and reached the support level 0.9415 which represents 61.8% of the same correction level, and with holding this level, the pair will form a bottom coincides with the bottom border of an expected bullish channel for near and mid-term trades, the pair failed to break this level which led it to rise again targeting to re-test the near resistance level, it is expected that the pair will continue rising targeting the resistance level 0.9525 which represents 23.6% of fibonacci's correction level but under the condition of breaking the resistance level 0.9485. The stability of these expectations requires holding the support level 0.9415. R3 R2 R1 P S1 S2 S3 0.9657 0.9601 0.9523 0.9467 0.9389 0.9333 0.9255 USD/JPY The trades are still below the bearish trendline for long and mid-term trades declairing the difficulty of breaking this trendline upwards, the pair continued declining breaking the support level 76.76 downside so it is expected that the pair will decline targeting the support level 76.59, breaking this trendline upwards with breaking the resistance level 76.96 upwards means more rising targeting the level 77.32 as an initial target for this near and mid-term rising move. R3 R2 R1 P S1 S2 S3 77.24 77.11 76.92 76.79 76.60 76.47 76.28 AUD/USD The AUD/USD pair faced the resistance level 1.0335 which represents 61.8% of fibonacci's correction level for the bearish move (From 1.0751 to 0.9662), the pair declined from this level without breaking it and this may lead the pair to target the support level 1.0206 again, generally, this mentioned wave may be weaken by breaking the level 1.0140 which represents the point C and this may lead the pair to decline and to trades below the level 1.0078 which represents 38.2% of the same correction levels, while holding the level 1.0140may lead the pair to target the resistance level 1.0494. Yesterday analysis is still remaining with holding the level 1.0140. Yesterday analysis is still remaining till now R3 R2 R1 P S1 S2 S3 1.0468 1.0422 1.0377 1.0331 1.0286 1.0240 1.0195
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#117
16-01-2012, 08:23
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Monday January 16th2012 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair failed to break the resistance level 1.2850 which coincides with the mid and near-terms formed bearish channel’s top border, pushed the pair down breaking the support level 1.2740 and reaching the level 1.2670 as the pair opened its trades with a bearish gap targeted the support level 1.2620 so it’s expected that the pair will continue retreating till the support level 1.2520 in condition the pair must break the support level 1.2620 with the probability of raising the pair a correction rise in order to cover the bearish gap. This bearish scenario depends on the stability of the resistance level 1.2740. R3 R2 R1 P S1 S2 S3 1.3081 1.2979 1.2828 1.2726 1.2575 1.2473 1.2322 GBP/ USD The GBP/USD pair formed a bearish top at the resistance level 1.5375 coinciding area with the bearish trendline which matches between the A and C points for the AB=CD harmonic pattern, the pair retreated again below the support level 1.5309 with a strong sign on continuing the bearish move; it’s expected that the pair will extend till the confined support level area between the support levels 1.5205 and 1.5175 representing the harmonic pattern’s complement D point, reaching this area; the support level 1.5275 must be broken. This scenario depends on the stability of the resistance level 1.5375. R3 R2 R1 P S1 S2 S3 1.5588 1.5498 1.5413 1.5323 1.5238 1.5148 1.5063 USD/CHF As it was expected, the USD/CHF rose and formed a bottom at the support level 0.9425 to form a bullish channel for intraday and near-term trades then it rose breaking the resistance level 0.9505 and reached the resistance level 0.9565. the pair started this week's trades with a bullish gap so it is expected that the pair will continue rising targeting the resistance level 0.9610 but under the condition of breaking the resistance level 0.9565, the pair may decline correctly to re-test the near support levels. The stability of these expectations requires holding the support level 0.9505. R3 R2 R1 P S1 S2 S3 0.9766 0.9670 0.9597 0.9501 0.9428 0.9332 0.9259 USD/JPY The pair succeeded to break the bearish trendline for long-term trades in a strong sign that it will continue its correction bullish direction, the pair continued rising at the beginning of this week's trades till reached the level 77.07 which represents 61.8% of fibonacci's correction level for the bearish wave (From 77.32 to 76.65) and formed a top at this level which pushed it to re-test the support level 76.81 which coincides with re-testing the broken trendline, it is expected that the pair will form a bottom at this level which may push the pair to rise again targeting to break the level 77.07 then it will continue rising targeting the next resistance level at 77.32. R3 R2 R1 P S1 S2 S3 77.38 77.19 77.03 76.84 76.68 76.49 76.33 AUD/USD The pair continued its correction bearish direction during the end of the trades of the last week till reached the support level 1.0233 which represents 61.8% of fibonacci's correction level for the bullish move (From 1.0144 to 1.0376), the pair formed a bottom at this level and it will push the pair to rise to re-test the near resistance levels, it is speculated that the pair will move bearishly to form a bearish channel so if the trades of the pair held below the top border of the expected channel, it will decline again to re-test the support level 1.0233 which with its breaking downwards the pair will decline again targeting the support level 1.0144, breaking the top border of the expected channel with breaking the resistance level 1.0321 means more rising for the pair targeting the resistance level 1.0376. R3 R2 R1 P S1 S2 S3 1.0515 1.0440 1.0380 1.0305 1.0245 1.0170 1.0110
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#118
17-01-2012, 07:32
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Tuesday January 17th 2012 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair formed a bullish bottom at through the previous trades around 1.2627 which coincides with the mid and near-terms formed bearish channel’s lower border and this led the pair up to the resistance level 1.2815, generally the pair’s mid and long-terms direction will be bearish by the stability of the resistance level 1.2915 which the pair may retest it in order to target the level 1.2627 to retest it then the support level 1.2530, but rising the pair above the level 1.2915 may support the pair to continue rising in future. R3 R2 R1 P S1 S2 S3 1.2754 1.2721 1.2694 1.2661 1.2634 1.2601 1.2574 GBP/ USD The GBP/USD pair is trading above the intraday level bearish trendline which matches between the A and C points for the AB=CD harmonic pattern to complete the bearish CD rib at the formed bottom above the level 1.5234, it’s noticed that the near-term bearish move is embodied through the bearish wedge’s reversal pattern so it represents the trading above the trendline, breaking the pattern’s top border with a strong sign on forming the bullish corrective direction extending till the level 1.5566 which represents the pattern moreover it’s representing 76.4% Fibonacci retracement correction level for the bearish direction (from 1.5668 to 1.5234) reaching this level; the confined resistance area between the levels 1.5375 and 1.5400 must be broken, this scenario depends on the stability of the support level 1.5330, breaking down this level means retreating again till the support level 1.5234. R3 R2 R1 P S1 S2 S3 1.5430 1.5390 1.5357 1.5317 1.5284 1.5244 1.5211 USD/CHF The USD/CHF failed to break the resistance level 0.9565 which led the pair to decline again to re-test the near support level reaching the support level 0.9510 and the pair is still moving inside the intraday and near-term bullish channel so it is expected that, the pair will continue rising targeting the resistance level 0.9625 but under the condition of breaking the resistance level 0.9565 with the probability of declining the pair targeting to re-test the resistance level 0.9465 which coincides with the bottom border of the bullish channel. The stability of these expectations requires holding the support level 0.9465. R3 R2 R1 P S1 S2 S3 0.9604 0.9585 0.9563 0.9544 0.9522 0.9503 0.9481 USD/JPY The trades of the pair are confused inside a narrow range which means that the pair is collecting the needed momentum to form its upcoming move, during the last trades it is noticed that the pair tried to re-test the support level 76.59, in the case that the pair broke the resistance level 76.81 upwards it will rise targeting the resistance level 77.07 but breaking the level 76.59 means that the pair will begin to form a new bearish move during the upcoming trades. R3 R2 R1 P S1 S2 S3 77.39 77.22 77.00 76.83 76.61 76.44 76.22 AUD/USD After the pair confused during the previous trades it reached the level 1.0206 which represents 50.0% of fibonacci's correction level for the bearish move (from 1.0751 to 0.9919), the pair rose from this level to reach the level 1.0335 which represents 61.8% of the same fibonaci's correction level, it is expected that the pair will continue rising targeting the level 1.0494 which represents 76.4% of the same correction levels, this level coincides with the point D of the harmonic pattern AB=CD, the pair should break the point B around the level 1.0385 and it is what the pair trying to do now. The stability of these expectations requires holding the point C around the level 1.0144. R3 R2 R1 P S1 S2 S3 1.0430 1.0383 1.0347 1.0300 1.0264 1.0217 1.0181
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#119
19-01-2012, 08:22
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Thursday January 19th 2012 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair’s movement is still bullish through the previous trades, it broke the level 1.2815 during the current trades near the mid and long-terms bearish channel’s top border, moreover nearing the pair to the resistance level 1.2915, this requires retreating the pair again for the long-term breaking the level 1.2815 in order to reach the level 1.2627, but the level’s 1.2815 stability supports the bullish move which may led the pair to break the mentioned channel, also which may push the pair up to break the level 1.2915 targeting the resistance levels up. R3 R2 R1 P S1 S2 S3 1.3044 1.2957 1.2911 1.2824 1.2778 1.2691 1.2645 GBP/ USD The GBP/USD pair broke up the confined resistance area between the resistance level 1.5375 and 1.5400 with a strong sign of achieving the pair the bearish wedge’s pattern target as was mentioned before, it’s expected with breaking the level 1.5442 which represents the highest price for yesterday trades that the pair will continue rising till the level 1.5566 which represents the pattern’s target, also at the same time it represents 76.4% Fibonacci retracement correction level for the bearish direction (from 1.5668 to 1.5234). This scenario depends on the stability of the support level 1.5375. R3 R2 R1 P S1 S2 S3 1.5591 1.5516 1.5477 1.5402 1.5363 1.5288 1.5249 USD/CHF The pair succeeded to break the support level 0.9460 which represents 38.2% of fibonacci's correction level for the last bullish wave (From 0.9240 to 0.9595) and it also coincides with the bottom border of the bullish channel, the pair declined breaking the support level 0.9420 and reached the support level 0.9375 which represents 61.8% of the same fibonacci's correction level and at the same time it represents the target of breaking the bottom border of the bullish channel, it is expected that the pair will rise again to re-test the near resistance levels then it will decline again targeting the support level 0.9325 which represents 76.4% of the same fibonacci's correction level, but under the condition of breaking the support level 0.9375. The stability of these expectations requires holding the resistance level 0.9420. R3 R2 R1 P S1 S2 S3 0.9579 0.9537 0.9466 0.9424 0.9353 0.9311 0.9240 USD/JPY The pair is still confusing inside a narrow range trades to collect the needed momentum that the pair will use it to determine its next move, during the last trades, it is noticed that there is a difference between the price action of the pair and the move of the stochastic index which means that there is a positive divergence which continues the direction, so, it is expected that, if the pair broke the resistance level 76.85 it will continue rising targeting the resistance level 77.07 followed by the resistance level 77.32. The stability of these expectations requires the stability of the support level 76.59. R3 R2 R1 P S1 S2 S3 77.15 77.01 76.91 76.77 76.67 76.53 76.43 AUD/USD The pair continued confusing till formed a symmetric triangle pattern around the level 1.0206 which represents 50.0% of fibonacci's correction level for the bearish wave (From 1.0751 to 0.9919), this confusion leads to end the last bullish direction which was expected to target the level 1.0494 as a end of the wave AB=CD that has been mentioned through the last analysis, the pair traded between this level and the support level 1.0335 which represents 61.8% of the same correction levels, forming this symmetric triangle pattern leads the expectation to declining or rising the pair whereas, if the pair broke the bottom border of the triangle it will decline targeting the level 1.0335 and it may continue declining to the level 1.0206 which represents 50.0% of the same correction levels, but if the pair broke the top border of the triangle it will continue rising targeting the level 1.0494 and it may trade above it. R3 R2 R1 P S1 S2 S3 1.0540 1.0488 1.0461 1.0409 1.0382 1.0330 1.0303
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#120
20-01-2012, 07:51
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Friday January 20th 2012 GIGFX Technical Analysis Report
EUR/USD
The EUR/USD pair’s movement is still bullish during the previous trades, it broke the level 1.2915 during the current trades with breaking the bearish channel’s top border which is formed for the long and near-terms, this may lead the pair to continue the bullish move in order to target the resistance level 1.3080, which in case of breaking it the pair will target the resistance level 1.3245 as a target of breaking the bearish channel, this depends on the pair’s stability above the level 1.2915, but in case of re-trading the pair below it and below the channel’s lower border; so it will retreat again till the level 1.2815 as an initially target. R3 R2 R1 P S1 S2 S3 1.3144 1.3058 1.3014 1.2928 1.2884 1.2798 1.2754 GBP/ USD The GBP/USD pair broke up the confined resistance area between the resistance level 1.5375 and 1.5400 with a strong sign of achieving the pair the bearish wedge’s pattern target as was mentioned before, it’s expected with breaking the level 1.5442 which represents the highest price for yesterday trades that the pair will continue rising till the level 1.5492 which represents the pattern’s target, also at the same time it represents 76.4% Fibonacci retracement correction level for the bearish direction (from 1.5668 to 1.5234). This scenario depends on the stability of the support level 1.5440. Yesterday Analysis is still remaining till now R3 R2 R1 P S1 S2 S3 1.5591 1.5541 1.5514 1.5464 1.5437 1.5387 1.5360 USD/CHF The pair declined breaking the support level 0.9380 which represents 38.2% of fibonacci's correction level for the last bullish wave (From 0.9065 to 0.9595) and reached the support level 0.9325 which represents 50.0% of the same fibonacci's correction level, it is expected that the pair will rise correctly to re-test the resistance level 0.9380 then it will decline again targeting the support level 0.9260 which represents 61.8% of the same fibonacci's correction level but under the condition of breaking the support level 0.9325. The stability of these expectations requires holding the resistance level 0.9380. R3 R2 R1 P S1 S2 S3 0.9477 0.9444 0.9382 0.9349 0.9287 0.9254 0.9192 USD/JPY As it was expected, the pair rose to the resistance level 77.32 after breaking the resistance levels 76.85 and 77.07 upside, this rise was the beginning of forming a corrective bullish direction for near-term trades, it is expected that the pair will continue rising targeting the resistance level 77.54 if it succeeded to break the resistance level 77.32 upwards. The stability of these expectations requires holding the support level 76.85. R3 R2 R1 P S1 S2 S3 77.98 77.64 77.36 77.02 76.74 76.40 76.12 AUD/USD The confusion move is still Accompanying the trades of the pair between the borders of the formed pattern above the level 1.0335 which represents 61.8% of fibonacci's correction level for the bearish move (From 1.0751 to 0.9919), this means that, the bullish move is ended which was expected to target the level 1.0494 as the end of the harmonic pattern AB=CD, supported by forming a mid-term bullish channel, the pair moved between this level and the support level 1.0335 which represents 61.8%, the appearance of the triangle pattern will lead the pair to decline or to rise whereas, if the pair broke the bottom border of the triangle, it will decline targeting the level 1.0335 and it may trade below the level 1.0206 which represents 50.0% of the same correction levels, but breaking the top border of the triangle pattern will lead the pair to rise targeting to reach above the level 1.0494. R3 R2 R1 P S1 S2 S3 1.0507 1.0470 1.0444 1.0407 1.038
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