GIGFX Technical Analysis For Majors (Updated Daily)

[GIGFX]

Monday 7th of March 2011 Technical Analysis Report

EUR/USD

The European currency continued rising against the U.S. dollar whereas the pair hits fresh 3-month high by reaching the level 1.4008, this bullish move was formed through moving inside a bullish channel for the short and medium-term, the resistance area between the level 1.4008 and the level 1.3978 which represents 127% Fibonacci continuous level for the downtrend (from 1.3861 to 1.3428) coincides with the top boarder of the bullish channel to form a bullish top with the appearance of reflective candles that provides a probability of corrective bearish move during the upcoming trades targeting to re-test the support level 1.3861 but under the condition of holding the resistance level 1.4008 steady, which with its breaking with good close above then the pair will rise targeting to reach the resistance level 1.4129 which represents 161.8% Fibonacci continuous level for the same mentioned downtrend.

Res: 1.4016 1.4063 1.4155
Pivot: 1.3924
Sup: 1.3877 1.3785 1.3738


GBP/ USD

The pair failed to achieve more gains while moving upside during the trades of the last week forming a reversal pattern (head and shoulders pattern) on the near-term trades, but it is necessary to break the neckline of the pattern at the support level 1.6240, it is expected after this breaking that the pair will decline targeting the support level 1.6180 as the first target of this declining which represents 50% Fibonacci correction level for the last bullish wave for the medium-term followed by the support level 1.6120.

The stability of these expectations requires the stability of the key resistance 1.6290.

Res: 1.6321 1.6366 1.6400
Pivot: 1.6287
SuP: 1.6242 1.6208 1.6163


USD/CHF

Through this chart it is noticed that the pair is forming a rectangle pattern that continues the direction after breaking one of its boarders, the resistance level 0.9325 represents the top boarder of the pattern and the area between the support level 0.9230 and the level 0.9201 represents the bottom boarder of the pattern, the pattern came within a downtrend so with breaking the bottom boarder, the pair will continue declining targeting the level 0.9105 which represents the target of this pattern in this bearish case, but if the pair succeeded to break the top boarder it will be a reflective pattern and will shift the direction of the pair into bullish direction targeting to reach the level 0.9420 which represents 38.2% Fibonacci's correction level for the downtrend (from 0.9774 to 0.9201).

Res: 0.9350 0.9385 0.9444
Pivot: 0.9291
Sup: 0.9256 0.9197 0.9162


USD/CAD

The pair is moving in a very narrow domain for the short-term trades and for the intraday levels whereas the pair is limited between the resistance level 0.9740 and the support level 0.9715 with the expectations on continuing these narrow trades during the intraday levels with tending the pair to rise, if the pair is able to break the resistance level 0.9740 with a good close above it therefore for the expected that the pair will target the resistance level 0.9766.
But in case of breaking the support level 0.9715 and the stability below it, the pair will target the support level 0.9682.

Res: 0.974 0.9763 0.9776
Pivot: 0.9727
Sup: 0.9704 0.9691 0.9668


AUD/USD

It's noticed in the chart that the pair is in process of forming a continuous pattern for the bullish direction which is the bullish flag pattern, forming this pattern came to confirm the ability of the pair on continuing forming the bullish direction for the medium-term, therefore it's expected during the next trades that the pair will break the top border for the flag which is expected to coincide at it the price with the resistance level 1.0152, breaking this area will push the pair to continue rising towards the targeted area for the pattern which is located between the level 1.0277 which represents 161.8% Fibonacci retracement correction level for the bearish direction ( from 1.0200 to 1.0075 ) and the level 1.0295, reaching this area; the resistance level 1.0200 also must be broken with a good close above it.

This expectation depends on the stability of the support level 1.0075.

Res: 1.0178 1.0213 1.0240
Pivot: 1.0151
Sup: 1.0116 1.0089 1.0054

 

[GIGFX]

Tuesday 8th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

The trades of the pair yesterday were narrow between the support level 1.3955 and the level 1.4035 which represents one of the resistance levels of the top boarder of the bullish channel in which the pair is moving. Closing yesterday trades with a daily reversal candle paves the way to a corrective bearish wave for the last bullish wave (from 1.3743 to 1.4035) this bearish wave will be confirmed after breaking the support level 1.3955 then it will continue forming the bearish wave targeting the support levels 1.3923 and 1.3889 which represent 38.2% and 50.0% Fibonacci's correction levels for the same mentioned bullish wave. This bearish scenario requires the stability of the resistance level 1.4035 which with its breaking up the pair will continue rise during the upcoming trades targeting to reach the resistance level 1.4129 which represents 161.8% Fibonacci's continuous level for the bearish direction (from 1.3861 to 1.3428).

Res: 1.4016 1.4065 1.4096
Pivot: 1.3985
Sup: 1.3936 1.3905 1.3856


GBP/ USD

As it was expected through yesterday's report, the pair retreated yesterday breaking the support level 1.6240 after trying to test resistance level 1.6340 but it was in vain, the pair reflected strongly with a confused move expecting more retreating during today's intraday trades specially after breaking the simple moving average for the last 50 candles and touching the support level 1.6200 which represents 23.6% fibonacci's correction level for the last bullish wave for the long-term and it is expected also that, during falling, the pair will target the support level 1.6115 which represents 38.2% fibonacci's correction level of the same mentioned wave.

The stability of these expectations requires the stability of the resistance level 1.6240.

Res: 1.6299 1.6398 1.6457
Pivot: 1.6240
Sup: 1.6141 1.6082 1.5983


USD/CHF

Through this chart it is noticed that the pair is forming a rectangle pattern that continues the direction after breaking one of its boarders, the resistance level 0.9325 represents the top boarder of the pattern and the area between the support level 0.9230 and the level 0.9201 represents the bottom boarder of the pattern, the pattern came within a downtrend so with breaking the bottom boarder, the pair will continue declining targeting the level 0.9105 which represents the target of this pattern in this bearish case, but if the pair succeeded to break the top boarder it will be a reflective pattern and will shift the direction of the pair into bullish direction targeting to reach the level 0.9420 which represents 38.2% Fibonacci's correction level for the downtrend (from 0.9774 to 0.9201).

This analysis is still remaining till now

Res: 0.9282 0.9298 0.9322
Pivot: 0.9258
Sup: 0.9242 0.9218 0.9202


USD/CAD

The pair is not moving inside the sideway channel for the short-term and the intraday levels as noticed in the chart, the pair is moving in a narrow range between the resistance level 0.9741which represents the top border for the channel and the support level 0.9706 which represents the lower border for the channel, this pattern gives a strong signal for the pair direction on breaking one of these borders, as noticed that the pair formed a pattern after ending the bearish move, if the pair broke the support level 0.9706 which represents the lower border for the channel and the stability below it therefore the pair will target the support level 0.9670, but if the pair will be able to break the resistance level 0.9741which represents the top border for the channel therefore the pair will target the resistance level 0.9775.

Res: 0.9748 0.9766 0.9791
Pivot: 0.9723
Sup: 0.9705 0.968 0.9662


AUD/USD

The pair tried during yesterday trades to break the top border for the bullish flag pattern but it was unable to break the resistance level 1.0185 which pushed the pair down again to trade inside the bullish flag pattern, although of this scenario but it's expected that breaking the top border for the flag with breaking the resistance level 1.0185 up the pair will continue rising till the level 1.0277 which represents the targeted price for the pattern and also represents 161.8% Fibonacci retracement correction level for the bearish direction ( from 1.0200 to 1.0075 ).

This expectation depends on the stability of the support level 1.0075.


Res: 1.0169 1.0222 1.0262
Pivot: 1.0129
Sup: 1.0076 1.0036 0.9983

 

[GIGFX]

Wednesday 9th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

As it was expected yesterday the pair formed a corrective bearish wave for the last bullish wave (from 1.3743 to 1.4035) after breaking the support level 1.3955 which became a resistance level. it was mentioned that this corrective bearish wave is targeting to re-test the bottom boarder of the bullish channel in which the pair is still moving for the medium and the long-term and this is what already happened whereas, during the last intraday trades the pair was trying to confirm forming a bottom at which the price coincides with the support level 1.3855 which represents 61.8% Fibonacci correction level for the bullish wave with the bottom boarder of the bullish channel. Holding this bottom steady means returning the pair to rise again in order to re-test the nearest resistance levels one of which is the level 1.3955 but in the case of breaking the support level 1.3855 with the bottom boarder of the bullish channel means the tendency of the pair to continue its downtrend for the medium-term targeting to reach the level 1.3743.

Res: 1.3974 1.4044 1.4100
Pivot: 1.3918
Sup: 1.3848 1.3792 1.3722


GBP/ USD

As it was expected yesterday, indeed, the pair declined breaking the level 1.6200 which represents 23.6% Fibonacci correction level for the last bullish wave for the medium-term, reaching the support level 1.6115 to test it which represents 38.2% Fibonacci correction level for the same mentioned bullish wave and still stable against the pair testing till now, expecting a little reflect upwards targeting to re-test the resistance level 1.6200 to continue declining downwards again.
So, it is not recommended to have any bearish positions until the pair break the support level 1.6115 then it will reach the support level 1.6045 which represents 50.0% Fibonacci correction level for the same mentioned wave.

The stability of these expectations requires the stability of the resistance level 1.6200.

Res: 1.6203 1.6246 1.6286
Pivot: 1.6163
Sup: 1.6120 1.6080 1.6037


USD/CHF

The pair succeeded to break up the resistance level 0.9325 which represents the top boarder of the rectangle pattern, this means that this pattern became reversal for the downtrend, so it is expected that, the pair will continue rising during the upcoming trades targeting to reach the level 0.9420 which represents 38.2% Fibonacci correction level for the downtrend (from 0.9774 to 0.9201).

The stability of these expectations requires the stability of the support level 0.9325.

Res: 0.9389 0.9427 0.9491
Pivot: 0.9325
Sup: 0.9287 0.9223 0.9185



USD/CAD

The pair is moving inside a sideways channel for the short-term and the intraday levels as noticed in the chart, the pair is moving in a narrow range between the resistance level 0.9741which represents the top border for the channel and the support level 0.9706 which represents the lower border for the channel, this pattern gives a strong signal for the pair’s direction on breaking one of these borders, as noticed that the pair formed a pattern after ending the bearish move, if the pair broke the support level 0.9706 which represents the lower border for the channel with stability below it therefore the pair will target the support level 0.9670, but if the pair was able to break the resistance level 0.9741which represents the top border for the channel therefore the pair will target the resistance level 0.9775.

The previous analyze still remains

Res: 0.9735 0.9759 0.9774
Pivot: 0.9720
Sup: 0.9696 0.9681 0.9657


AUD/USD

The pair developed from it's movement inside the bullish flag pattern to the movement inside a bearish channel for the medium and the short-terms, whereas it's able to break the support level 1.0075 to form a new bottom at the support level 1.0055 which represents 61.8% Fibonacci retracement correction level for the bullish direction ( from 0.9965 to 1.0200 ) the price coincides at this level with the lower border for the bearish channel therefore the pair formed a bottom to push up from it during the last intraday trades trying to test the nearest resistance level and also to test the top border for the bearish channel, from these levels the level 1.0134 which represents 61.8% Fibonacci retracement correction level for the bearish direction ( from 1.0183 to 1.0055 ).

This expectation depends on the stability of the support level 1.0055.


Res: 1.0135 1.0174 1.0215
Pivot: 1.0094
Sup: 1.0055 1.0014 0.9975

 

[GIGFX]

Thursday 10th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

Yesterday trades were in narrow range between the bottom boarder of the bullish channel and the resistance level 1.3955 whereas, the pair formed a bottom and using the bottom boarder of the bullish channel and pushed upwards to re-test the resistance level 1.3955 forming a top around this level and used this top to decline again during the last intraday trades. The current trades are outside the range of the bullish channel; this means that, breaking the bottom boarder of the bullish channel will be confirmed after breaking the support level 1.3860 then the pair will continue declining targeting to reach the level 1.3660 which represents the target of breaking out this bullish channel and also represents 61.8% Fibonacci correction level for the uptrend (from 1.3428 to 1.4035). In order to reach this level the pair should break the support levels 1.3803 and 1.3731.

The stability of these expectations requires the stability of the resistance level 1.3955.

Res: 1.3947 1.3987 1.4033
Pivot: 1.3901
Sup: 1.3861 1.3815 1.3775


GBP/ USD

As it was expected yesterday, indeed, the pair declined breaking the level 1.6200which represents 23.6% Fibonacci correction level for the last bullish wave for the medium-term, reaching the support level 1.6115 to test it which represents 38.2% Fibonacci correction level for the same mentioned bullish wave and still stable against the pair testing till now, expecting a little reflect upwards targeting to re-test the resistance level 1.6200 to continue declining downwards again. (Happened yesterday already)
So, it is not recommended to have any bearish positions until the pair break the support level 1.6115 then it will reach the support level 1.6045 which represents 50.0% Fibonacci correction level for the same mentioned wave.

The stability of these expectations requires the stability of the resistance level 1.6200.

Yesterday analysis remains

Res: 1.6249 1.6297 1.6353
Pivot: 1.6193
Sup: 1.6145 1.6089 1.6041


USD/CHF

The pair formed a top at the level 0.9368 which is the highest price for the pair in ten days; the pair registered this price after breaking the resistance level 0.9325 which represents the top boarder of the rectangle pattern. After the pair formed this top, the pair was pushed downside to decline searching about forming a bullish bottom; the pair formed a bottom at the good support level 0.9265 and used it to rise during the last intraday trades. Between rising and declining it is noticed that the pair is in a forming stage of a harmonic pattern AB=CD whereas, the level 0.9368 represents the B point, with breaking this point it is expected that, the pair will continue rise targeting to reach the level 0.9420 which represents the target of the rectangle pattern and at the same time represents the D point that completes the harmonic pattern and also represents 38.2% Fibonacci’s correction level for the downtrend (from 0.9774 to 0.9201).

The stability of these expectations requires the stability of the support level 0.9265.


Res: 0.9352 0.9410 0.9452
Pivot: 0.9310
sup: 0.9252 0.9210 0.9152


USD/CAD

After achieving the pair the previous mentioned target which was to reach the support level 0.9670, this was after breaking the lower border for the channel which were formed as a rectangle shape pattern.
Therefore from the expected for the intraday trades that the pair will take the bullish direction, the pair is facing now the resistance level 0.9706 which represents the previous mentioned lower border for the channel and the stability above this level, gives the pair the chance to reach the resistance level 0.9735 then to the level 0.9778.

This expectation depends on the stability of the pair above the resistance level 0.9706 which represents the lower border for the previous mentioned channel.

Res: 0.9708 0.9734 0.9755
Pivot: 0.9687
Sup: 0.9661 0.9640 0.9614


AUD/USD

As expected in yesterday report, the pair used the formed bottom at the support level 1.0055 to rise searching for the expected bearish top at the level 1.0134 which represents 61.8% Fibonacci retracement correction level for the bearish direction ( from 1.0183 to 1.0055 ) which was actually done by achieving the highest price for yesterday trades at 1.0130, this level coincided at it the price with the top border for the bearish channel to complete forming the top which forced the pair to decline again, whereas it's noticed during the last intraday trades breaking the support level 1.0055 and the pair is trying to break the lower border for the bearish channel to begin on forming a new bearish direction will be confirmed by breaking the support level 1.0020, if this breaking is confirmed, the pair will continue declining reaching the level 0.9965.

This expectation depends on the stability of the resistance level 1.0083.


Res: 1.0137 1.0169 1.0208
Pivot: 1.0098
Sup: 1.0066 1.0027 0.9995

 

[GIGFX]

Friday 11th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

As it was expected through yesterday report, the pair succeeded to break the support level 1.3860 continuing forming a corrective bearish direction for the near-term. this breaking confirmed the trueness of breaking out the bullish channel by breaking its bottom boarder, during yesterday trades the pair continued declining achieving the lowest price at the level 1.3775 at the support area of 38.2% Fibonacci's correction level for the uptrend from (1.3428 to 1.4035). during the upcoming trades it is expected that, the pair will rise to test the level 1.3860 which became a resistance level 1.3860 to form a bearish top for the near-term that will force the pair to return declining again to try to break the support level 1.3775 which with its breaking down means more declining till reaching the level 1.3660 which represents the target of breaking out this bullish channel and also represents 61.8% Fibonacci's correction level for the same downtrend, and in order to reach this level, the pair should break the support level 1.3731.

The stability of these expectations requires the stability of the resistance level 1.3860.


Res: 1.3889 1.3981 1.4038
Pivot: 1.3832
Sup: 1.3740 1.3683 1.3591


GBP/ USD

As it was expected through yesterday report, the pair succeeded to test the resistance level 1.6200 then declined again breaking the support level 1.6115 to target then the support level 1.6045, it is noticed that the pair is forming a harmonic pattern AB=CD for the near-term targeting the support level 1.6030 that the pair is almost around and is trying to test it, expecting that the pair will reflect correctly upwards targeting to re-test the resistance level 1.6125 at which the pair will search about a top for a new bearish wave to target at then the support level 1.6030 again.

The stability of these expectations requires the stability of the resistance level 1.6125.


Res: 1.6168 1.6276 1.6341
Pivot: 1.6103
Sup: 1.5995 1.5930 1.5822



USD/CHF

The pair formed a top at the level 0.9368 which is the highest price for the pair in ten days; the pair registered this price after breaking the resistance level 0.9325 which represents the top boarder of the rectangle pattern. After the pair formed this top, the pair was pushed downside to decline searching about forming a bullish bottom; the pair formed a bottom at the good support level 0.9265 and used it to rise during the last intraday trades. Between rising and declining it is noticed that the pair is in a forming stage of a harmonic pattern AB=CD whereas, the level 0.9368 represents the B point, with breaking this point it is expected that, the pair will continue rise targeting to reach the level 0.9420 which represents the target of the rectangle pattern and at the same time represents the D point that completes the harmonic pattern and also represents 38.2% Fibonacci’s correction level for the downtrend (from 0.9774 to 0.9201).

The stability of these expectations requires the stability of the support level 0.9265.

The previous analyze remains

Res: 0.9359 0.9401 0.9440
Pivot: 0.9320
Sup: 0.9278 0.9239 0.9197


USD/CAD

The pair reflected up during yesterday trades to form the corrective direction, it's expected for the pair to continue the corrective direction that the pair started since breaking the resistance level 0.9735 which represents 23.6% Fibonacci retracement correction level for the last bearish wave for the medium-term, from the expected that the pair will try to target the resistance level 0.9778 which represents 38.2 previous mentioned Fibonacci retracement correction level and the stability above this level, the pair will continue targeting the resistance level 0.9812 which represents 50.0% Fibonacci retracement correction level.
But the pair’s ability on retesting, breaking and the stability below the support level 0.9735 which represents 23.6% Fibonacci retracement correction level which gives the pair the chance to continue declining till the support level 0.9666.

Res: 0.9787 0.9818 0.9871
Pivot: 0.9734
Sup: 0.9703 0.965 0.9619


AUD/USD

The pair is continuing the sharp declining move during the last short-term trades, whereas the pair was pushed down breaking the lower border for the bearish channel for the medium and the short terms which means the strength of the current bearish direction.
During the intraday trades, the pair is nearest to retest for the support level 0.9965 and if the pair is able to break this level down, it will continue declining till reaching the level 0.9940 which represents the targeted price to get out of the channel, also it's expected that with breaking this level down the pair will continue declining till the level 0.9902 which represents 127% Fibonacci retracement continuous level for the bullish direction ( from 0.9965 to 1.0200 ).

This expectation depends on the stability of the resistance level 1.0040.

Res: 1.0085 1.0164 1.0212
Pivot: 1.0037
Sup: 0.9958 0.9910 0.9831

 

[GIGFX]

Monday 14th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

The European single currency returned rising again V.S the American dollar at the end of the last week trades, this rising came after forming a corrective bearish move that reached the area of the level 1.3731which represents 50.0% Fibonacci's correction level for the uptrend (from 1.3428 to 1.4035), to form a bottom that returned the pair to rise again breaking the resistance level 1.3860 and also broke the bearish trendline for the near-term.
With the beginning of this week trades, the pair registered a bullish gap that confirms the strength of the bullish move that is dominating the pair now, a top has been formed at the level 1.3968 which represents 61.8% Fibonacci's correction level for the downtrend (from 1.4035 to 1.3752) and declined from it during the last intraday trades trying to cover the whole bullish gap whereas, with covering this bullish gap the pair will rise breaking the resistance level 1.3968 targeting to reach the resistance level 1.4035.

The stability of these expectations requires the stability of the support level 1.3860.

Res: 1.3964 1.4020 1.4126
Pivot: 1.3858
Sup: 1.3802 1.3696 1.3640



GBP/ USD

The pair is moving inside a short-term bearish channel and through this chart it is noticed that the pair was testing its bottom boarder at the end of the trades of last week at the support level 1.5995 which coincided with the destination of the harmonic pattern AB=CD, this led to a corrective reflection upwards targeting to test the top boarder of this bearish channel that the pair reached indeed at the beginning of the Asian trades of today and the beginning of this week trades, expecting more declining as long as moving inside this channel targeting the support level 1.5995 again followed by the support level 1.5885 but under the condition of breaking the support level 1.5995.

The stability of these expectations requires the stability of the resistance level 1.6090.

Res: 1.6118 1.6157 1.6228
Pivot: 1.6047
Sup: 1.6008 1.5937 1.5898



USD/CHF

The pair is still forming a corrective bullish direction for the short and medium-term, this direction has been formed through moving inside a bullish channel, the current trades are around the coinciding area of the support level 0.9265 with the bottom boarder of the channel. It is expected that the pair will continue forming a bottom at this area and the pair will use it to rise again targeting the level 0.9365 which with its breaking up, the pair will rise more till reaching the level 0.9420 which represents 38.2% fibonacci's correction level for the downtrend (from 0.9774 to 0.9201) at which the price is expected to coincide with the top boarder of the bullish channel.

The stability of these expectations requires the stability of the support level 0.9265.

Res: 0.9344 0.9396 0.9435
Pivot: 0.9305
Sup: 0.9253 0.9214 0.9162



USD/CAD

As what noticed in the chart, the pair is above the bullish trend line for the intraday levels for the short-term after the first trial in which the pair tried to complete the direction then it reached the resistance level 0.9777 which represents 38.2% Fibonacci retracement correction level for the last bearish wave but it failed, the pair is trying now to reach the resistance level 0.9777 which represents 38.2% same previous mentioned Fibonacci retracement correction level but with the condition of breaking the resistance level 0.9735 which represents 23.6% Fibonacci retracement correction level.

This expectation depends on the stability of the pair above the bullish trend line at the support level 0.9722.


Res: 0.9776 0.9836 0.9873
Pivot: 0.9739
Sup: 0.9679 0.9642 0.9582



AUD/USD

The pair couldn’t break the central support level 0.9965 forming a new bottom at this level, the pair used this bottom to rise again to retest the nearest resistance levels which didn't stand along against the strong rising which dominated the pair during last week trades, the pair continued rising till the bearish trend line for the medium-term which coincides at the price with the resistance level 1.0145 which represents 76.4% Fibonacci retracement correction level for the bearish direction ( from 1.0200 to 1.0067 ), a top has formed at this area in which the pair declined again searching for forming a bullish bottom for the short-term which will use it the pair to rise again trying to break the level 1.0145 as well as breaking the bearish trend line then reaching the resistance level 1.0200, expecting for the bullish bottom to be within the limits of the support level 1.0056.


Res: 1.0211 1.0279 1.0401
Pivot: 1.0089
Sup: 1.0021 0.9899 0.9831

 

[GIGFX]

Tuesday 15th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD
As it was expected through yesterday report, the pair continued declining to cover the whole bullish gap then reflected rising to break the resistance level 1.3968 and to register the highest price during yesterday trades at 1.4003 at which the price coincides with re-testing the bottom boarder of the bullish channel which has been broken down before so, a top has been formed and pushed the pair down again trying to form a new bullish bottom, it is expected that the pair will use this bullish bottom to rise again targeting to reach the level 1.4035 which with its breaking up, the pair will rise more targeting to reach the level 1.4111 which represents 127% Fibonacci's continuous level for the downtrend (from 1.4035 to 1.3752), it is expected for this bottom to be around the support level 1.3890.

The stability of these expectations requires the stability of the support level 1.3860.

Res: 1.4026 1.4064 1.4125
Pivot: 1.3965
Sup: 1.3927 1.3866 1.3828



GBP/ USD

Yesterday, the pair succeeded to exit the channel that the pair was moving inside for the short-term as unexpected action; this led the pair to reach the resistance level 1.6180 and tested it as the first target of breaking out this channel and reflected down again trying to test the support level 1.6075 which coincides with re-testing the top boarder of this broken channel expecting more rise during today's intraday trades but under the condition of breaking the resistance level 1.6180 with stability above to target then to test the resistance level 1.6260 and this level performs as the target of breaking out this channel.

The stability of these expectations requires the stability of the support level 1.6075.

Res: 1.6237 1.6302 1.6408
Pivot: 1.6131
Sup: 1.6066 1.5960 1.5895


USD/CHF

The coinciding area of the support level 0.9265 with the bottom boarder of the bullish channel for the short-term did not hold steady for a long time against the declining that started from the former top at the level 0.9368 whereas, the pair broke this area targeting to reach the support level 0.9201, it is expected that the pair will decline more after breaking this level targeting to reach the level 0.9157 which represents 127% Fibonacci's continuous level for the uptrend (from 0.9201 to 0.9368).

The stability of these expectations requires the stability of the resistance level 0.9285.

Res: 0.9295 0.9348 0.9381
Pivot: 0.9262
Sup: 0.9209 0.9176 0.9123


USD/CAD

The pair has formed a harmonic pattern AB=CD after completing the last wave for the CD pattern by reaching the D point which was at the resistance level 0.9846 but according to the Radiation Concern at Japan and the trades of the pair during the Asian trades, it is expected during the intraday trades that the pair will form an extended CD wave till the resistance level 0.9890 just in case of breaking the pair the resistance level 0.9846 which is the D point for the pattern and if it will not be able to break it therefore the pair may reach the support level 0.9803 which represents the B point for the pattern and in case of breaking the pair it and the stability below it the pair will target the support level 0.9705 the C point for the pattern.

Res: 0.9762 0.9790 0.9817
Pivot: 0.9735
Sup: 0.9707 0.9680 0.9652


AUD/USD

Yesterday trades saw many bearish positions, these operations were supported with the Australian bank stabled rate without any changes, it's noticed during the intraday trades a try for breaking the pivotal support level 0.9965, if it was broken with a good close below this level, the pair will reach the level 0.9916 which represents 127% Fibonacci retracement correction level for the continuous level for the bullish direction ( from 1.0067 to 1.0158 ), also it's expected a further drop till the level 0.9849 which represents 161.8% Fibonacci retracement correction level for the same bullish direction.

Res: 1.0129 1.0168 1.0210
Pivot: 1.0087
Sup: 1.0048 1.0006 0.9967

 

[GIGFX]

Wednesday 16th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

During yesterday trades, the pair formed a new bullish bottom for the short-term at the level 1.3855, this bullish bottom represents the point C of the harmonic pattern AB=CD that is in its forming stage whereas, the rib BC represents 61.8% Fibonacci's correction level for the rib AB so it is expected that the rib CD will be completed at 161.8% Fibonacci's continuous level for the rib BC. With breaking the resistance level 1.4003 which represents the point B and also with breaking the 1.4035 it is expected that, the pair will continue forming the bullish rib CD which targets to reach the level 1.4110 which represents the point D that completes the harmonic pattern.

The stability of these expectations requires the stability of the support level 1.3855.

Res: 1.4055 1.4113 1.4213
Pivot: 1.3955
Sup: 1.3897 1.3797 1.3739


GBP/ USD

Yesterday trades were volatile and confused between rising and declining and by drawing Fibonacci's correction levels for the last bearish wave for the short-term it is noticed that the pair faced the support level 1.6060 at the beginning of the Asian market trades today, this level represents 23.6% Fibonacci's correction levels and now the pair is testing the resistance level 1.6115 which represents 38.2% of the same correction levels. If the pair succeeded to break this level with stability above it is expected that the pair will target the resistance level 1.6200 which represents 61.8% of the same correction levels during today's intraday trades.

The stability of these expectations requires the stability of the support level 1.6060.

Res: 1.6185 1.6286 1.6389
Pivot: 1.6082
Sup: 1.5981 1.5878 1.5777


USD/CHF

During yesterday trades, the pair registered a new record by reaching the lowest price in these trades at the level 0.9140 which is located in the support area of the percentage 127 of Fibonacci's continuous levels for the uptrend (from 0.9201 to 0.9368). At this percentage, the pair formed a bottom and used it to rise during the last intraday trades targeting to re-test the level 0.9201 which became a resistance level. It is expected to form a bearish top at this level that will force the pair to decline breaking the level 0.9140which with its breaking downwards means more declining till reaching the level 0.9099 which represents 161.8% Fibonacci's continuous level for the same mentioned uptrend.

Res: 0.9230 0.9296 0.9341
Pivot: 0.9185
Sup: 0.9119 0.9074 0.9008


USD/CAD

After raising the pair yesterday by forming a reversal candle as noticed in the chart, the pair is between the resistance level 0.9857 which represents 38.2% Fibonacci retracement correction level for the last bullish wave and the support level 0.9819 which represents 50.0% Fibonacci retracement correction level.
If the pair breaks the support level 0.9819 which represents 50.0% Fibonacci retracement correction level and the stability below it, so the pair will target the support level 0.9783 which represents 61.8% Fibonacci retracement correction level.
But if the pair breaks the resistance level 0.9857 which represents 38.2% from the same previous mentioned Fibonacci retracement correction level and the stability above it; the pair will target the resistance level 0.9901 which represents 23.6% from the same previous mentioned Fibonacci retracement correction level.

Res: 0.9970 1.0090 1.0208
pivot: 0.9852
Sup: 0.9732 0.9614 0.9494


AUD/USD

Yesterday pair trades saw a continuation of a great selling positions which reserves the Australian bank decision on keeping the interest rate without any changes, it was expected in the last report that with breaking the central support level 0.9965, the pair will continue declining till the level 0.9849 which represents 161.8% Fibonacci retracement correction level for the bullish direction (from 1.0067 to 1.0158 ) which is already done, after reaching this level the pair formed a bearish bottom which pushed it up during the last intraday trades searching to form a bearish top which will force the pair to decline again trying to break the support level 0.9849 which with breaking it down means a further drop till the next support level at 0.9776 which represents 200% Fibonacci retracement continuous level for the same mentioned bullish direction, expecting that a bearish top will be formed at the level 0.9965 which became a resistance level after breaking it down.

Res: 1.0059 1.0227 1.0349
Pivot: 0.9937
Sup: 0.9769 0.9647 0.9479

 

[GIGFX]

Thursday 17th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

During yesterday trades, the pair failed to break the resistance level 1.4003 which represents the point B of the harmonic pattern AB=CD that is still in the forming stage to form a new top at this level and it is the second consecutive top at this level. This provides one of the conditions of the existing of a double bottom pattern that reflects the uptrend into downtrend, and the bottom of this pattern is at the support level 1.3855.
If the pair succeeded to break the resistance level 1.4003, it will continue forming the CD rib of the harmonic pattern which targets to reach the level 1.4110 which represents the point D that completes the harmonic pattern. But if the pair broke the support level 1.3855 means that the second condition of the existing of a reversal pattern is achieved then the pair will continue declining targeting the support level 1.3750 initially.

Res: 1.3992 1.4064 1.4127
Pivot: 1.3929
Sup: 1.3857 1.3794 1.3722


GBP/ USD

The trades of the pair are still confused and volatile between rising and declining suggesting to form a harmonic pattern AB=CD and now it is moving in the range of the last wave of the pattern CD which is supposed to target the support level 1.5915 during today's trades but under the condition of breaking the support level 1.5985 which represents the point B of the pattern with stability below.

The stability of these expectations requires the stability of the resistance level 1.6095.

Res: 1.6097 1.6186 1.6242
Pivot: 1.6041
Sup: 1.5952 1.5896 1.5807



USD/CHF

The pair continued registering new records where reached the lowest price at the level 0.8915 during yesterday trades, as it was expected through yesterday report, the pair formed a bearish top at the resistance level 0.9201 and used this top to continue declining. Also the pair formed a bearish bottom at the level 0.8915 and used it to rise during the last intraday trades targeting to re-test the nearest resistance levels in order to form a new bearish top that is expected to be between the levels 0.9035 and 0.9099, the pair will use this top to decline again to continue forming the bearish direction targeting to reach the level 0.8790 but under the condition of breaking the level 0.8915 with stability below.

Res: 0.9148 0.9312 0.9429
Pivot: 0.9031
Sup: 0.8867 0.8750 0.8586



USD/CAD

As noticed in the chart, after the previous days trades during the for the medium-term the pair was trading inside the bullish channel but from the expected that during the intraday trades the pair will decline to test the support level 0.9887 which represents the bottom border for the bullish channel and if the pair is able to break this level, so it will target the support level 0.9841.
But it's possible that the pair will try to retest the resistance level 0.9966 which is the top level that the pair achieved during yesterday trades.

Res: 0.9985 1.0055 1.0145
Pivot: 0.9895
Sup: 0.9825 0.9735 0.9665



AUD/USD

The bearish direction is still dominating the pair trades, whereas a new bearish top has been formed during yesterday trades at the resistance level 0.9965 which pushed the pair down again breaking the support level 0.9849 as what was expected in yesterday report, the bearish move continued till the pair achieved the lowest price for yesterday trades at 0.9715, during the last trades the pair rose from the formed bottom at the level 0.9715 trying to retest the level 0.9849 which became the resistance level after breaking it down.
It is expected to form a new bearish top at this level which will push the pair down to continue forming the bearish direction till reaching the support level 0.9658.
But to reach this level; the level 0.9715 must be broken with a good close below it.

Res: 0.9879 1.0043 1.0125
Pivot: 0.9797
Sup: 0.9633 0.9551 0.9387

 

[GIGFX]

Friday 18th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

Yesterday trades saw the beginning of registering the highest trading prices during the last three months for the European currency against the U.S dollar, whereas the pair was able to break the resistance level 1.4003 which represents the point B for the AB=CD under configuration harmonic pattern to continue forming the CD rib achieving the highest price for yesterday trades at 1.4052, breaking the resistance level 1.4003 came to support the continuality of rising to draw the remaining part for the harmonic pattern, whereas from the expected with breaking the level 1.4052; that the pair will continue rising till the level 1.4100 which represents the complement D point for the harmonic pattern.

This expectation depends on the stability of the support level 1.4003.


Res: 1.4090 1.4163 1.4274
Pivot: 1.3979
Sup: 1.3906 1.3795 1.3722



GBP/USD

The pair movement is still characterized with the sharp oscillation movement for the short-term and now is continuing forming a sideway channel in which the pair is moving inside it; between the resistance level 1.6175 and the support level 1.5985, therefore the pair now is at a confusion area between these two levels, breaking one of them is a condition of confirming the next pair direction.
The price now is testing the resistance level 1.6175, if the pair was able to break this level this time, so the first targeted price for this penetration is trying to test the resistance level 1.06270, but in case of the stability of this level against testing the price for it for the second consecutive time therefore a bearish correction will accompany the price movement during today's trades to target the support level 1.5985 which represents the lower border for this sideway channel.

Res: 1.6217 1.6291 1.6415
Pivot: 1.6093
Sup: 1.6019 1.5895 1.5821


USD/CHF

The dominant direction on the pair movement is the bearish direction for the medium and the short-terms, it's noticed that the movement inside this bearish channel has tested it's lower border at the support level 0.8915 and it reflected up breaking the level 0.9035 and it is still trading above it expecting a slightly rise targeting the resistance level 0.9160 which coincides with testing the pair for the top border of the channel trying find a suitable top to collect the needed momentum to continue declining again.

This expectation depends on the stability of the support level 0.9035.

Res: 0.9041 0.9097 0.9135
Pivot: 0.9003
Sup: 0.8947 0.8909 0.8853



USD/CAD

As noticed in the chart, the pair failed again on breaking the resistance level 0.9960 to form a new top which is the second consecutive top at the same level, one of the conditions for ( double consecutive tops ) reflective pattern for the bullish direction conditions is available, the base of this pattern is at the support level 0.9810 which is located at the same support level 50% Fibonacci retracement correction level for the bullish direction ( from 0.9666 to 0.9972 ), breaking the base of the pattern is the most important condition on remaining the reflective pattern, also there is a negative reflective divergence which is supported by the expected bearish movement for the pair during the next trades, confirming breaking the level 0.9810 means a further drop to reach the level 0.9666 which represents the targeted price for the pattern, to reach this level; the support level 0.9738 must be broken.

Res: 0.9921 0.9989 1.0033
Pivot: 0.9877
Sup: 0.9809 0.9765 0.9697



AUD/USD

The pair has continued forming the bearish direction which embodies through the movement inside the bearish channel, whereas the pair achieved the lowest price during the last three months by reaching the level 0.9715 to form a bearish bottom at this level, the pair rose again to retest the nearest resistance levels, whereas the last intraday trades saw breaking up the top border of the bearish channel to continue the pair’s rising to test the important resistance level at 0.9965, if this level is breached up means that the pair will continue rising till reaching the targeted price to get out of this bearish channel at the level 1.0050 which represents at the same time 76.4% Fibonacci retracement correction level for the bearish direction ( from 1.0157 to 0.9715 ), failure of breaking the resistance level 0.9965 means declining again till the support level 0.9860.

Res: 0.9884 0.9961 1.0051
Pivot: 0.9794
Sup: 0.9717 0.9627 0.9550

 

[GIGFX]

Monday 21st of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

The trades of last week saw the rise of the European currency against the dollar. The rib CD that completes the harmonic pattern AB=CD has been completed by reaching the level 1.4110 which represents the point D, rising the pair did not stop at this level and continued to register the highest price at 1.4185. it is expected that the pair will continue rising on speculation that with breaking the level 1.4185 the pair will target to reach the level 1.4210 which represents 161.8% Fibonacci's continuous level for the downtrend (From 1.4035 to 1.3752), and in the case of breaking this level with stability above, the pair will continue to rise targeting to reach the next resistance level 1.4318.

The stability of these expectations requires the stability of the support level 1.4110.

Res: 1.4251 1.4320 1.4456
Pivot: 1.4115
Sup: 1.4046 1.3910 1.3841



GBP/USD

The pair succeeded at the end of the last week trades to break up the confusion area between the level 1.6175 and the level 1.5895 as it was expected, speculating more rise during today's intraday trades targeting the resistance level 1.6270 as the first targets of breaking out the short-term sideway move, if the pair succeeded to break this level with stability above it will target to reach the resistance level 1.6330.

The stability of these expectations requires the stability of the support level 1.6175.

Res: 1.6303 1.6375 1.6497
Pivot: 1.6181
Sup: 1.6109 1.5987 1.5915



USD/CHF

The bearish direction is still dominating the trades of the pair till now although the corrective bullish move for the short-term, where the pair formed a bearish top at the resistance level 0.9090 with expectation that the pair will continue declining during the upcoming trades breaking the bullish trendline for the short-term, then the pair will target to decline till reaching the level 0.8915 which with its breaking downwards, the pair will decline till reaches the next support level at 0.8868.

The stability of these expectations requires the stability of the resistance level 0.9090.


Res: 0.9073 0.9139 0.9187
Pivot: 0.9025
Sup: 0.8959 0.8911 0.8845



USD/CAD

After breaking the pair the bullish channel at the support level 0.9874 during the previous trades for the short-term, the pair formed a bearish wave. from the expected that the pair will continue declining during the intraday trades to continue the corrective direction, the pair is trading now between the support level 0.9783 which represents 61.8% Fibonacci retracement correction level for the last bullish correction wave and the resistance level 0.9820 which represents 50.0% Fibonacci retracement correction level breaking the pair the support level 0.9783 matches the pair till the support level 0.9738 which represents 76.4% Fibonacci retracement correction level, but the ability of the pair in breaking then the stability above the resistance level 0.9820 matches the pair to the resistance level 0.9856 which represents 38.2% Fibonacci retracement correction level.

Res: 0.9868 0.9895 0.9928
Pivot: 0.9835
Sup: 0.9808 0.9775 0.9748



AUD/USD

As noticed in the chart, the pair is continuing forming the bullish corrective direction, whereas the pair broke the resistance level 0.9965 up, during the last intraday trades the pair continued rising reaching the level 1.0050 which represents 76.4% Fibonacci retracement correction level for the bearish direction ( from 1.0157 to 0.9715 ) and also represents the targeted price to get out of the bearish channel, also from the expected that in case of breaking the resistance level 1.0050 the pair will continue rising to reach the next resistance level at 1.0157.

This expectation depends on the stability of the support level 0.9965.


Res: 1.0032 1.0103 1.0229
Pivot: 0.9906
Sup: 0.9835 0.9709 0.9638

 

[GIGFX]

Tuesday 22nd of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

The European currency continued rising against the dollar whereas, during yesterday trades the pair registered the highest price for four months ago at the level 1.4240, interfering the ECB in currency market supports this rise. As noticed in the chart, this rise has been formed through moving inside a bullish channel for the short-term. With breaking the level 1.4240 it is expected for the pair to continue rising targeting to reach the level 1.4318 which represents 200.0% Fibonacci's continuous level for the downtrend (from 1.4035 to 1.3752).

The stability of these expectations requires the stability of the support level 1.4185.

Res: 1.4259 1.4300 1.4361
Pivot: 1.4198
Sup: 1.4157 1.4096 1.4055



GBP/USD

The pair succeeded at the end of the last week trades to break up the confusion area between the level 1.6175 and the level 1.5985 as it was expected, speculating more rise during today's intraday trades targeting the resistance level 1.6270 as the first targets of breaking out the short-term sideway move, if the pair succeeded to break this level with stability above it will target to reach the resistance level 1.6355.

The stability of these expectations requires the stability of the support level 1.6270.

Res: 1.6351 1.6400 1.6474
Pivot: 1.6277
Sup: 1.6228 1.6154 1.6105



USD/CHF

Yesterday trades were in narrow range, this reflects collecting the momentum that the pair will use it to form the upcoming direction whereas, during the last trades, the pair was trying to break the short-term bullish trendline but faced the support level 0.9010 so that, if the pair tended to continue declining, it should break the level 0.9010 then it will continue declining till reaches the level 0.8915 that its breaking represents an important case in order to register new records. And if the pair succeeded to break up the resistance level 0.9090 it means the beginning of a bullish corrective move targeting initially to reach the level 0.9201.

Res: 0.9077 0.9107 0.9140
Pivot: 0.9044
Sup: 0.9014 0.8981 0.8951



USD/CAD

As noticed in the chart that trading the pair during the previous short-term trades were inside the bearish channel therefore the expected for the intraday pair trades that it will test the resistance level 0.9787 which represents the top border for the channel then it will continue declining till reaches the support level 0.9726 which represents the lower border for the channel.
But the pair’s ability on breaking the resistance level 0.9787 which represents the top border for the channel and the stability above it, will lead the pair to target the resistance level 0.9846.

Res: 0.9839 0.9898 0.9944
Pivot: 0.9793
Sup: 0.9734 0.9688 0.9629



AUD/USD

The pair continued rising during yesterday trades till it reached the level 1.0050 which represents 76.4% Fibonacci retracement correction level for the bearish direction ( from 1.0157 to 0.9715 ) also represents the targeted price to get out of the bearish channel as what was expected in the previous report, during the last intraday trades the pair was trying to break the resistance level 1.0050 and also on it's way to test the bearish trendline for the medium and the long-terms, if the pair succeed on breaking the trendline this means continuing rising till the resistance level 1.0157, breaking the bearish trendline with breaking the resistance level 1.0157 means continuing forming the bullish directions in order to reach the level 1.0279.

Res: 1.0103 1.0144 1.0220
Pivot: 1.0027
Sup: 0.9986 0.9910 0.9869

 

[GIGFX]

Wednesday 23rd of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

Although the pair registered the highest price at 1.4248 during yesterday trades, but failed to be stable above the level 1.4240 which represents the highest price of the trades during the day before yesterday, this was an important sign of beginning a corrective bearish direction for the short-term, breaking the bottom boarder of the bullish channel in which the pair was moving for the short-term also confirms the beginning of this corrective bearish direction so that, it is expected that the pair will continue declining during the upcoming trades targeting to reach the level 1.4131 which represents 23.6% Fibonacci's correction level for the uptrend (from 1.3752 to 1.4248), this breaking performs as another confirmation to continue the corrective bearish direction which will target to reach the support level 1.4035.

The stability of the expectations requires the stability of the resistance level 1.4240.

Res: 1.4238 1.4277 1.4307
Pivot: 1.4208
Sup: 1.4169 1.4139 1.4100



GBP/USD

The pair succeeded at the end of last week trades to break up the confusion area between the level 1.6175 and the level 1.5985 as it was expected, speculating more rise during today's intraday trades targeting the resistance level 1.6270 as the first targets of breaking out the short-term sideway move, if the pair succeeded to break this level with stability above, it will target to reach the resistance level 1.6355.

The stability of these expectations requires the stability of the support level 1.6270.

Res: 1.6417 1.6462 1.6525
Pivot: 1.6354
Sup: 1.6309 1.6246 1.6201


USD/CHF

Yesterday trades were in narrow range, this reflects collecting the momentum that the pair will use it to form the upcoming direction whereas, during the last trades, the pair was trying to break the short-term bullish trendline but faced the support level 0.9010 so that, if the pair tended to continue declining, it should break the level 0.9010 then it will continue declining till reaches the level 0.8915 that its breaking represents an important case in order to register new records. And if the pair succeeded to break up the resistance level 0.9090 it means the beginning of a bullish corrective move targeting initially to reach the level 0.9201.


Res: 0.9056 0.9079 0.9101
Pivot: 0.9034
Sup: 0.9011 0.8989 0.8966



USD/CAD

As noticed in the chart, during yesterday trades for the short-term the pair has broken the bearish channel correcting the direction but the pair reached it's first target at the resistance level 0.9829 which represents 38.20% Fibonacci retracement correction level for the last bearish wave but the pair couldn’t hold above it although testing it for this level therefore from the expected that the pair will continue the bullish direction till reaches the resistance level 0.9880 which represents 61.8% previous Fibonacci retracement correction level.
In condition, the pair has to break the resistance level 0.9829 which represents 38.20% Fibonacci retracement correction level.

Res: 0.9829 0.9855 0.9898
Pivot: 0.9786
Sup: 0.976 0.9717 0.9691



AUD/USD

As expected in yesterday report, the pair continued rising till reached the bearish trendline for the medium and the long-terms, whereas the pair formed a top that coincided at it the trendline with the level 1.0127 which represents the highest trading price for yesterday trades, this top pushed the pair down to test the support level 1.0050, if a new bottom is formed at this level; it will represent a short-term bottom and will force the pair to rise again trying to break the bearish trendline which with its breaking and with breaking up the level 1.0127 ; the pair will continue rising till the level 1.0157 then the level 1.0200, but if the pair break the support level 1.0050 means a further drop till the next support level at 0.9984.


Res: 1.0145 1.0182 1.0237
Pivot: 1.0090
Sup: 1.0053 0.9998 0.9961

 

[GIGFX]

Thursday 24th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

As it was expected through yesterday report, the pair continued a short-term corrective bearish direction whereas, it was able to break the support level 1.4131 which represents 23.6% Fibonacci's correction level for the bullish wave (from 1.3752 to 1.4248) to continue declining achieving the lowest price during yesterday trades at 1.4077. It is expected that the pair will continue its corrective bearish direction till reaching the support level 1.4035 at which the price is supposed to coincide with the medium-term bullish trendline. This scenario will be confirmed after breaking the level 1.4077.

The stability of these expectations requires the stability of the resistance level 1.4131.

Res: 1.4180 1.4265 1.4317
Pivot: 1.4128
Sup: 1.4043 1.3991 1.3906



GBP/USD

The pair continued declining for the second straight day as the pair broke the level 1.6235 which represents 38.2% Fibonacci's correction level for the last short-term bullish wave at the beginning of today's session, now the pair is trying to reach the support level 1.6185 which represents 50.0% of the same mentioned level expecting more decline targeting the support level 1.6135 which represents 61.8% of the same mentioned level during today's intraday trades.

The stability of these expectations requires the stability of the resistance level 1.6235.

Res: 1.6343 1.6445 1.6507
Pivot: 1.6281
Sup: 1.6179 1.6117 1.6015



USD/CHF

Yesterday trades saw forming a bottom at the support level 0.8978 where this level succeeded to stop the bearish wave then the pair used this formed bottom to rise again till reached the resistance level 0.9088 which represents 38.2% Fibonacci's correction level for the bearish wave (from 0.9368 to 0.8915), the pair continued rise breaking this level expecting more rising till reaches the resistance level 0.9195 which represents 61.8% Fibonacci's correction level for the same bearish wave and in order to reach this level, the pair should break the resistance level 0.9142 with stability above.

The stability of these expectations requires the stability of the support level 0.9088.


Res: 0.9118 0.9158 0.9228
Pivot: 0.9048
Sup: 0.9008 0.8938 0.8898



USD/CAD

As noticed in the chart, the pair has formed a bullish channel during the previous trades for the short-term, the pair is standing now against the support level 0.9800 which represents the lower border for the bullish channel therefore it's expected after testing this border that the intraday pair trades will take the bullish direction till targeting the resistance level 0.9862.
In condition, the stability of the pair above the support level 0.9800 which represents the lower border for the bullish channel. But if the pair breaks the support level 0.9800 which represents the lower border for the channel, so the pair will decline targeting the support level 0.9735.

Res: 0.9838 0.9866 0.989
Pivot: 0.9814
Sup: 0.9786 0.9762 0.9734



AUD/USD

The pair used the formed bottom which is near to the support level 1.0050 to rise again breaking the bearish trendline for the medium and the short-terms and also breaking the resistance level 1.0127, expecting for the pair to continue rising during the next trades to reach the resistance level 1.0157 but to reach this level; the resistance level 1.0157 must be broken by a good close above it.

This expectation depends on the stability of the support level 1.0110.


Res: 1.0169 1.0208 1.0261
Pivot: 1.0116
Sup: 1.0077 1.0024 0.9985

 

[GIGFX]

Friday 25th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

The pair continued the corrective bearish direction for the short-term that was mentioned in the previous report till reached the level 1.4059 which represents 38.2% Fibonacci's correction level for the bullish move (from 1.3752 to 1.4248) registering the highest price during yesterday trades at the level 1.4053 which coincides with the medium-term bullish trendline, a bottom has been formed at this area and the pair used it to rise again to re-test the nearest resistance levels till reached the resistance level 1.4215. It is expected that the pair will continue rising in order to continue the major bullish direction for the medium and the long-term, and also expected with breaking the resistance levels 1.4215 and 1.4248, the pair will continue rising till reaches the level 1.4289 which represents 127% Fibonacci's continuous level for the bearish wave (from 1.4248 to 1.4053).

The stability of these expectations requires the stability of the support level 1.4145.

Res: 1.4243 1.4314 1.4409
Pivot: 1.4148
Sup: 1.4077 1.3982 1.3911



GBP/USD

As was expected yesterday, the pair declined till reached the support level 1.6135 which represents 61.8% Fibonacci retracement level for the last bullish wave on the short term trying to reach the most important support level during this declining wave at the level 1.6070 which represents 76.4% Fibonacci retracement level which also coincides with the lower boarder of the bullish pitchfork for the last bearish corrective wave on the long term. This is level will determine the direction of the pair in the next trades where the most problae to hold this level and the pair will try to rise targeting the resistance level 1.6235 during today’s intraday trades.

This expectation depends on the stability of the support level 1.6070

Res: 1.6227 1.6334 1.6402
Pivot: 1.6159
Sup: 1.6052 1.5984 1.5877



USD/CHF

Through this chart it is noticed that, the pair is in the forming stage of AB=CD harmonic pattern where the resistance level 0.9125 represents the point B and if the pair succeeded to break this level during the upcoming trades, it will continue forming the bullish rib CD which targets to reach the resistance area between the resistance levels 0.9170 and 0.9195 which represents 61.8% Fibonacci’s correction level for the bearish move (from 0.9368 to 0.8915), this area represents the point D that completes the harmonic pattern.

The stability of these expectations requires the stability of the support level 0.9027.

Res: 0.9129 0.9175 0.9225
Pivot: 0.9079
Sup: 0.9033 0.8983 0.8937



USD/CAD

As noticed in the chart, the pair is moving inside the pitchfork channel for the last bullish wave for the short-term therefore the pair’s ability on breaking the support level 0.9744 by a good close below it will lead the pair to target the support level 0.9699.
But in case the pair tried to test the resistance level 0.9779 with a good close above it, so the pair will target the resistance level 0.9839.

Res: 0.9792 0.9854 0.9885
Pivot: 0.9761
Sup: 0.9699 0.9668 0.9606



AUD/USD

The Australian dollar is continuing rising against the American dollar, whereas the pair was able to break the resistance level 1.0200 which was the expected targeted level during the previous reports, breaking the level 1.0200 is a strong signal on continuing the bullish direction for the long-term, whereas the pair is on it's way to test the level 1.0255 during the intraday trades which is the highest historical level for the pair, if the pair is able to break this level so, the pair will continue rising till reaching the level 1.0334 which represents 127% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ).

This expectation depends on the stability of the support level 1.0200.


Res: 1.0252 1.0297 1.0368
Pivot: 1.0181
Sup: 1.0136 1.0065 1.0020

 

[GIGFX]

Monday 28th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

On the contrary of what was expected, the trades of the end of the last week was unable to break the resistance level 1.4215 to form a new top that pushed the pair down again, this decline pushed the pair to break the bullish trendline for the medium-term at the level 1.4059 which represents 38.2% of Fibonacci's correction level for the bullish wave (from 1.3752 to 4248). At the beginning of this week trades, the pair registered a bearish gap which was the reason to break the formed bottom at the level 1.4059 to support continuing its corrective bearish direction, its continuity will be confirmed after breaking the support level 1.4035 during the upcoming trades then the pair will target to reach the level 1.3941 which represents 61.8% of Fibonacci's correction level for the same bullish wave that was mentioned before.

Res: 1.4170 1.4251 1.4309
Pivot: 1.4112
Sup: 1.4031 1.3973 1.3892



GBP/USD

The pair declined at the end of the last week trades and the beginning of this week trades reaching the support level 1.5970 which was a start point of a bullish wave expecting more decline during today's intraday trades targeting the support level 1.5855 but under the condition of holding steady below support level 1.5970 that the pair is moving around till now.

The stability of these expectations requires the stability of the resistance level 1.6070.

Res: 1.6118 1.6195 1.6251
Pivot: 1.6062
Sup: 1.5985 1.5929 1.5852



USD/CHF

The harmonic pattern AB=CD has been completed by reaching the pair to the point D between the level 0.9170 and the resistance level 0.9195 which represents 61.8% of Fibonacci's correction level for the bearish wave (from 0.9368 to 0.8915). At the beginning of this week trades, the pair pushed breaking the resistance level 0.9195 to confirm its tendency of continuing rising, targeting to reach the level 0.9261 which represents 76.4% of Fibonacci's correction level for the same mentioned bearish wave.

The stability of these expectations requires the stability of the support level 0.9170.


Res: 0.9249 0.9301 0.9388
Pivot: 0.9162
Sup: 0.9110 0.9023 0.8971



USD/CAD

As noticed in the chart, during the previous medium-term trades the pair formed a double consecutive bottoms at the support level 0.9744 therefore it's expected during the intraday trades that the pair will test the resistance level 0.9825 which represents the midline for the formed pattern. if the pair was able to break it with stability above it, then the pair will target the resistance level 0.9865 and the stability above this level, will give the pair a chance to continue rising till the resistance level 0.9905.


Res: 0.9837 0.9874 0.9923
Pivot: 0.9788
Sup: 0.9751 0.9702 0.9665



AUD/USD

The end of last week Australian dollar trades registered a new record against the American dollar by reaching the level 1.0292 whereas the pair is continuing forming the bullish direction which is embodied through the movement inside the bullish channel, whereas it is expected during the next trades that with breaking the level 1.0292, the pair will continue rising till the level 1.0334 which represents 127% Fibonacci retracement correction level for the bearish direction ( from 1.0200 to 0.9705 ).

This expectation depends on the stability of the support level 1.0200.


Res: 1.0305 1.0352 1.0412
Pivot: 1.0245
Sup: 1.0198 1.0138 1.0091

 

[GIGFX]

Tuesday 29th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

Yesterday trades were in a narrow range and reflect collecting the momentum that will determine the upcoming direction, it is noticed that, the pair was unable to break the support level 1.4035 forming a short-term bearish bottom that the pair used it to push rising to re-test the nearest resistance levels and also targeting to re-test the bullish trendline which was broken down before so that, it is expected that, the pair will form a short-term bearish top at which the price is expected to coincide with the meeting point of the broken down bullish trendline with the short-term bearish trendline with the confused area between the resistance levels 1.4143 and 1.4173 which represent 61.8% and 76.4% fibonacci's correction levels for the bearish wave (from 1.4219 to 1.4020).
After forming the expected bearish top it is expected that, the pair will return declining to re-test the support level 1.4035.

The stability of these expectations requires the stability of the resistance level 1.4173.

Res: 1.4127 1.4168 1.4222
Pivot: 1.4073
Sup: 1.4032 1.3978 1.3937



GBP/USD

The pair declined at the end of the last week trades and the beginning of this week trades reaching the support level 1.5970 which was a start point of a bullish wave expecting more decline during today's intraday trades targeting the support level 1.5855 but under the condition of holding steady below support level 1.5970 that the pair is moving around till now with the probability of rising the pair to re-test the resistance level 1.6070 again.

The stability of these expectations requires the stability of the resistance level 1.6070.

Res: 1.6039 1.6087 1.6139
Pivot: 1.5987
Sup: 1.5939 1.5887 1.5839


USD/CHF

The pair failed to break the resistance level 0.9228 forming a top that forced it to decline again whereas, the pair now is trading around the support level 0.9142 which represents 0.9142 which represents 50.0% Fibonacci's correction level for the bearish wave (From 0.9368 to 0.8915) that was broken before. If the pair formed a bottom at this level, it will coincide with the bullish trendline for the short-term then the pair will rise to try to break the level 0.9228 which with its breaking up means more rise till reach the level 0.9261 then the level 0.9368, but if the pair broke the support level 0.9142 it will decline again till reach the support level 0.9022.


Res: 0.9217 0.9267 0.9300
Pivot: 0.9184
Sup: 0.9134 0.9101 0.9051



USD/CAD

As noticed in the chart that the pair is not still moving with a sideway direction for the short-term trades and the intraday levels inside the sideway channel between the resistance level 0.9827 which represents the top border for the channel and the support level 0.9748 which represents the lower border for the channel expecting for it to try reaching the resistance level 0.9827 which represents the top border for the channel to test it, by breaking the pair this level and the stability above it, therefore the pair will target the resistance level 0.9864 then the level 0.9905.

This scenario depends on the stability of the pair above the support level 0.9748.

Res: 0.9820 0.9863 0.9904
Pivot: 0.9779
Sup: 0.9736 0.9695 0.9652



AUD/USD

During yesterday trades the Australian dollar registered a new record against the American dollar by reaching the level 1.0312 whereas a new top has been formed at this level which pushed the pair down retesting the nearest support levels, as noticed in the chart that there's a complement positive divergence for the bullish direction, therefore it's expected during the next trades that the pair will rise again to retest the level 1.0312 which with breaking it up the pair will continue rising till the level 1.0334 which represents 127% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ).

This expectation depends on the stability of the support level 1.0200.

Res: 1.0292 1.0342 1.0372
Pivot: 1.0262
Sup: 1.0212 1.0182 1.0132

 

[GIGFX]

Wednesday 30th of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

As it was expected through yesterday report, the pair formed a bearish top between the resistance levels 1.4143 and 1.4173 which represent 61.8% and 76.4% of Fibonacci's correction level for the bearish wave (from 1.4219 to 1.4020), this top coincided with the meeting point of the broken down bullish trendline with the short-term bearish trendline, this top pushed the pair down to decline again till formed a bottom around the support level 1.4035. The rose again to test the nearest resistance level, these bullish and bearish moves require breaking the support level 1.4035 or breaking the resistance level 1.4143 to form a clear move. If the pair broke the resistance level 1.4143 with breaking the bearish trendline for the short-term, it will rise targeting the resistance level 1.4248, and if the pair broke the support level 1.4035, it will decline targeting the level 1.3941 which represents 61.8% of Fibonacci's correction level for the bullish move (from 1.3752 to 1.4248).


Res: 1.4159 1.4205 1.4261
Pivot: 1.4103
Sup: 1.4057 1.4001 1.3955



GBP/USD

The pair declined at the end of the last week trades and the beginning of this week trades reaching the support level 1.5970 which was a start point of a bullish wave expecting more decline during today's intraday trades targeting the support level 1.5855 but under the condition of holding steady below support level 1.5970 that the pair is moving around till now with the probability of rising the pair to re-test the resistance level 1.6070 again.

The stability of these expectations requires the stability of the resistance level 1.6070.

Yesterday analysis remains

Res: 1.6053 1.6096 1.6151
Pivot: 1.5998
Sup: 1.5955 1.5900 1.5857



USD/CHF

As it was expected through yesterday report, the pair formed a bullish bottom at the support level 0.9142 which represents 50.0% of Fibonacci's correction level for the bearish move (from 0.9368 to 0.8915) using the coinciding with the bullish trend line for the short-term, the pair used this bottom to rise again till reached the resistance level 0.9228 that the last intraday trades were around trying to confirm breaking this level in order to continue rise targeting to reach the level 0.9261 followed by the resistance level 0.9368.

The stability of these expectations requires the stability of the support level 0.9190.


Res: 0.9237 0.9273 0.9322
Pivot: 0.9188
Sup: 0.9152 0.9103 0.9067



USD/CAD

During the previous trades for the medium-term the pair was moving by a sideway direction inside the sideway channel but at the beginning of the Asian trades for today the pair broke this channel down and breaking the support level 0.9741 which represents the lower border for the channel therefore it's expected that the declining scenario will be continued till targeting the pair the support level 0.9696 and the stability of the pair below this level which advantages the pair to continue declining till reaching the support level 0.9655.

This scenario depends on the stability of the pair below the resistance level 0.9741.


Res: 0.9770 0.9800 0.9816
Pivot: 0.9754
Sup: 0.9724 0.9708 0.9678



AUD/USD

The Asian trades registered a new record by reaching the pair the level 1.0334 and this level was mentioned before in the last previous reports whereas this level represents 127% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 0.9705 ), this bullish move was mentioned in yesterday report and also the appearance of a positive divergence completing the bullish direction, therefore the pair formed a new bullish bottom nearest the support level 1.0200 which pushed the pair up till it reached to achieve a new record, it's expected during the next trades that breaking the resistance level 1.0334 the pair will continue rising reaching the level 1.0380 then the level 1.0422 which represents 161.8% and 200% Fibonacci retracement continuous level for the bearish direction ( from 1.0312 to 1.0202 ).

This expectation depends on the stability of the support level 1.0260.


Res: 1.0322 1.0355 1.0415
Pivot: 1.0262
Sup: 1.0229 1.0169 1.0136

 

[GIGFX]

Thursday 31st of March 2011 GIGFX Daily Technical Analysis Report

EUR/USD

The pair succeeded to break up the short-term bearish trendline giving a strong sign that the pair is tending to form bullish direction for the medium and the long-term. During the current intraday trades the pair is trying to break the resistance level 1.4143 which represents 61.8% of Fibonacci's correction level for the bearish wave (from 1.4219 to 1.4020) and it is in its way to test the resistance level 1.4173 which represents 76.4% of Fibonacci's correction level for the same bearish wave. If the pair succeeded to break this level with stability above, it will continue rise targeting to reach the level 1.4248 and this is the most likely scenario to happen during the upcoming trades.

The stability of these expectations requires the stability of the support level 1.4110.

Res: 1.4159 1.4205 1.4261
Pivot: 1.4103
Sup: 1.4057 1.4001 1.3955


GBP/USD

The bearish direction is dominating the short-term trades of the pair reaching the support level 1.5950 and it is noticed that the pair tested this level two consecutive times forming a double bottom reversal pattern and by drawing Fibonacci's correction levels for the short-term bearish wave, it is noticed that the bottom boarder of this pattern is at the level 1.6045 which represents 23.6% of Fibonacci's correction level and the targets of the pattern are corresponded with these Fibonacci's percentages as the first target is at the resistance level 1.6110 which represents 38.2% of Fibonacci's correction level which the pair is now moving around, and the last target is at the resistance level 1.6165 which represents 50.0% of Fibonacci's correction level so, it is expected that, the pair may rise targeting the resistance level 1.6165 but under the condition of breaking the resistance level 1.6110 with stability above.

The stability of these expectations requires the stability of the support level 1.6045.


Res: 1.6109 1.6147 1.6213
Pivot: 1.6043
Sup: 1.6005 1.5939 1.5901


USD/CHF

The pair continued rising till reached the level 0.9261 which represents 76.4% Fibonacci correction level for the bearish wave (from 0.9368 to 0.8915) forming a top and used it to push declining, a bearish move for the stochastic index appeared while the price action had the bullish move, this means the existence of negative divergence that shifts the bullish direction for the short-term and so a decline move from the formed top has been noticed in order to break the bullish trendline for the short-term, and this confirms the tendency of the pair to continue declining for the short and the medium and the long-term but under the condition of breaking the support level 0.9142 then, the pair will continue declining targeting initially to reach the support level 0.9022.

The stability of these expectations requires the stability of the resistance level 0.9200.


Res: 0.9246 0.9308 0.9344
Pivot: 0.9210
Sup: 0.9148 0.9112 0.9050


USD/CAD

As noticed in the chart, the pair formed a bearish channel with a narrow range for the short-term trades therefore it's expected during the short-term trades that the pair will continue the bearish scenario till it targets the support level 0.9670 which represents the lower border for the channel but if the pair is able to break the resistance level 0.9715 which represents the top border for the channel with a stability above, then the pair will get out of this channel and it will target the resistance level 0.9756.


Res: 0.9744 0.9781 0.9811
Pivot: 0.9714
Sup: 0.9677 0.9647 0.9610


AUD/USD

The Asian market trades saw registering a new record by reaching the level 1.0345, whereas the pair’s direction is still bullish which is embodied through the movement inside the bullish channel, it's expected that during the next trades with confirming breaking the level 1.0345 up, the pair will continue rising till reaching the level 1.0380 then the level 1.0422 which represents 161.8% and 200% Fibonacci retracement correction level for the bearish direction (from 1.0312 to 1.0202).

This expectation depends on the stability of the support level 1.0290.


Res: 1.0350 1.0375 1.0415
Pivot: 1.0310
Sup: 1.0285 1.0245 1.0220

 

[GIGFX]

Friday 1st of April 2011 GIGFX Daily Technical Analysis Report

EUR/USD
As was expected; the EUR\USD pair continued the bullish move passing the resistance levels 1.4143 and 1.4173 to register the highest price at 1.4233 near of the resistance level 1.4248, to form a top that pushed the pair down in order to form a bottom that the pair could use to rise during the upcoming short-term trades, the pair tried to form that bottom near of the support level 1.4134 during the Asian trades.
If the pair succeeded to form that bottom, it will rise again in order to pass the resistance level 1.4233 and 1.4248, which if the pair succeeded to pass these levels, the pair will rise targeting 1.4310 level that represents 127% continuous level for the bearish move from (1.4248 to 1.4020).
This analyze requires the stability of the support level 1.4143.


Res: 1.3964 1.4020 1.4126
Pivot: 1.3858
Sup: 1.3802 1.3696 1.3640





GBP/ USD
Yesterday the pair failed to continue rising after breaking the resistance level 1.6110 which represents 38.2% of Fibonacci's correction level for the last short-term bearish wave and was unable to hold steady above and reflected back reaching the support level 1.6145 which represents 23.6% of Fibonacci's correction level for the same bearish wave also that is still stable against the pair testing till the moment expecting more rise during today's intraday trades targeting to re-test the resistance level 1.6110.
The existence of a negative divergence that was formed on the stochastic index, led to the probability of the pair rising.
With reaching the resistance level 1.6110 which is expected to be stable against the pair testing and then the pair will reflect declining, targeting the support level 1.6045 again followed by 1.5985.
But if the pair succeeded to break the resistance level 1.6110, the pair will target then the level 1.6220 which represents 61.8% of the same mentioned Fibonacci's levels.


Res: 1.6111 1.6196 1.6243
Pivot: 1.6064
Sup: 1.5979 1.5932 1.5847




USD/CHF
The pair was unable to break the support level 0.9136 which represents 38.2% Fibonacci correction level for the bullish direction (from 0.8915 to 0.9273), a bottom was formed that pushed the pair up again searching to form a bearish top where it is found a negative divergence that supports the bearish direction.
The other supporting thing for this bearish view is that the awaited forming bearish top may represent the right shoulder for the reversal pattern (head & shoulders) that started from the support level 0.8915, if this top was formed by holding the resistance level 0.9238, then the pair will resume the bearish move trying to break the support level 0.9136 which represents the neckline for the reversal pattern head and shoulders, then the pair will push down for the pattern’s target at the level 0.8999 which also represents 76.45% Fibonacci correction level for the mentioned wave.
The stability of these expectations requires the stability of the resistance level 0.9238.



Res: 0.9216 0 0.9242 0.9287
Pivot: 0.9171
Sup: 0.9145 0.9100 0.9074





USD/CAD
The bearish direction is still dominating the price action for the short and the medium-terms as the pair formed a butterfly harmonic pattern and now the pair is moving in the range of the last wave CD which targets the support level 0.9590 in order to finish the formation of the pattern expecting to continue declining -with the probability of re-testing the resistance level 0.9730 which represents the point B for the pattern- targeting the support level 0.9590 and breaking the support level 0.9670 with stability below is needed to confirm this scenario.
The stability of these expectations requires the stability of the resistance level 0.9730.



Res: 0.9726 0.9749 0.9771
Pivot: 0.9704
Sup: 0.9681 0.9659 0.9636





AUD/USD
The AUD\USD pair registered a new record at 1.0371 during yesterday trades, approaching 1.0380 level that represents 161.8% continuous level for the bearish move (from 1.0312 to 1.0202) that was expected through yesterday report, a top has been formed at this level to push the pair down to retest the bullish channel bottom line, which the pair remain moving inside it range, if the pair was able to form a new bottom with the stability of the channel bottom line, the pair will rise trying to break 1.0380 level which if the pair succeeded to pass it, the pair will continue rising targeting the level 1.0422, but in case the pair broke the channel bottom line with breaking the support level 1.0290, the pair will continue falling targeting the support level 1.0200.



Res: 1.0362 1.0398 1.0425
Pivot: 1.0335
Sup1.0299 1.0272 1.0236