GIGFX Technical Analysis For Majors (Updated Daily)

[GIGFX]

Tuesday 3rd of May 2011 GIGFX Technical Analysis Report

EUR/USD

After the pair has formed a second straight top at the resistance level 1.4880, the pair retested the support level 1.4770 that its breaking was a confirmation of existing the double bottom pattern as the pair formed a new bottom at this level and used it to push for the third time to test the resistance level 1.4880 forming a third consecutive new top at the same level, this is one of the conditions of forming the reversal treble bottom pattern, and breaking the bottom of the pattern at the support level 1.4770 is the remaining condition. It is noticed also that the1.2.3 pattern did not completed till now as it is targeting to reach the level 1.4985, if the harmonic reversal pattern that reflects the bullish direction completed, it is hard to complete the 1.2.3 pattern but if the pair failed to complete the late pattern by breaking the resistance level 1.4880 the pair will continue rising till reach the level 1.4985. if the pair successfully broke the support level 1.4770 it will continue declining targeting to reach the level 1.4660 which represents the target of the treble bottom pattern.


Res: 1.4899 1.4969 1.5038
Pivot: 1.4830
Sup: 1.4760 1.4691 1.4621



GBP/ USD

The resistance level 1.6270 was able to be stable against the pair testing for two consecutive times forming a double top pattern that reflects the bullish direction so that it is expected during today's intraday levels that the pair may decline but under the condition of breaking the bottom of this pattern at the level 1.6625 that the pair broke at the beginning of today's trades and still moving around it so, closing with stability below it may push the pair to target the support level 1.6510.

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

Res: 0.8691 0.8729 0.8762
Pivot: 0.8658
Sup: 0.862 0.8587 0.8549



USD/CHF

As observed for the USD/CHF chart, the pair is still trading between a bearish channel lines during the short and medium periods, where the pair could not break down the support level 0.8633 during the Asian trades, which is the bottom the pair formed during last week tradesto rise from it, so it is expected that the pair will continue rising in order to retest the resistance level 0.8739 that may coincide with the channel top line, which if the pair was able to trade above it; the pair will rise targeting the resistance level 0.8832, and if the pair was able to hold above this level it will target 0.8922 resistance level.

This analyze requires the breaking of the resistance level 0.8739 which may coincides with the channel top line.


Res: 0.8766 0.8797 0.8835
Pivot: 0.8728
Sup: 0.8697 0.8659 0.8628



USD/CAD

As observed in the chart that the par is facing at a confusion area between the support level 0.9450 and the resistance level 0.9556 after declining the momentum which the pair does it yesterday nearest the support level 0.9450 which represents the lower border for the confusion area and it was unable to close a good close below it therefore it's expected that the pair will try to test the resistance level 0.9556 which represents the top border for the confusion area.
But the stability of the pair above the support level 0.9450 which represents the lower border for confusion area with taking in account that determining the pair main directions after breaking one of the confusion area borders.



Res: 0.9532 0.9561 0.9605
Pivot: 0.9488
Sup: 0.9459 0.9415 0.9386



AUD/USD

The AUD/USD pair taking the bullish move as it main direction inside a medium bullish channel lines, where the pair fell during the previous short trades to retest the channel bottom line, which is expected with the stability of that line with the stability of the support level 1.0859 that the pair will continue rising to target the resistance level 1.1050, but if the pair traded under this level with trading under the channel bottom line it will have a bearish move in order t retest the nearest support level that may lead it to the support level 1.0770.



Res: 1.0996 1.1048 1.1086
Pivot: 1.0958
Sup: 1.0906 1.0868 1.0816

 

[GIGFX]

Wednesday 4th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The trades of the pair are still moving in a confusion area between the resistance level 1.4880 and the level 1.4770, this area was expected to present reversal pattern but was not completed, this area now represents the rectangle pattern so it is better during the upcoming trades to wait for breaking one of the pattern's boarders to determine the upcoming direction of the pair, if the pair breaks the resistance level 1.4880 it will continue rising targeting the level 1.4985 which represents the target of the pattern 1.2.3 which has not achieved yet and in the case of breaking the support level 1.4770, the pair will continue declining targeting the level 1.4660 which represents the target of this bearish case.


Res: 1.4891 1.4957 1.5025
Pivot: 1.4823
Sup: 1.4757 1.4689 1.4623



GBP/ USD

As it was expected through yesterday report, indeed, the pair declined reaching the support level 1.6555 that has been broken from the first testing process and also which represents 23.6% of Fibonacci's correction level for the last bullish wave for the medium-term and retested it again before declining reaching the support level 1.6435 to test it, this level represents 38.2% of the same mentioned Fibonacci's levels expecting more declining during today's intraday trades but under the condition of breaking the support level 1.6435 that if the pair succeeded to break it with stability below it, the pair will decline targeting the support level 1.6340 as the first target of declining and also this level represents 50.0% of the same mentioned Fibonacci's correction levels.

The stability of these expectations requires the stability of the resistance level 1.6555.


Res: 1.6609 1.6733 1.6806
Pivot: 1.6536
Sup: 1.6412 1.6339 1.6215




USD/CHF

As it is noticed through this chart, the pair is still moving inside a bearish channel for the short and the medium-term as the pair ended trading yesterday after forming a new bottom at the support level 0.8596 but at the beginning of the Asian session today it took the bullish direction so it is expected that the pair may continue rising till reaches the resistance level 0.8693 which represents the top border of the channel and if the pair broke this level with stability above it, the pair may target the resistance level 0.8784 and if it succeeded to break it thenthe pair may target the resistance level 0.8874.

The stability of these expectations requires the stability of the support level 0.8596.


Res: 0.8657 0.8703 0.8734
Pivot: 0.8626
Sup: 0.8580 0.8549 0.8503



USD/CAD

Yesterday the pair reached the mentioned targeted price which is near to the resistance level 0.9556 which also represents the top border of the sideways channel but the pair is unable to break this level withstability above it therefore this gives a signal that the pair will take the bearish direction till it retests the support level 0.9450 which represents the lower border for the mentioned channel.

This expectation depends on the stability of the pair below the resistance level 0.9556 which represents the top border for the channel.


Res: 0.9557 0.9590 0.9641
Pivot: 0.9506
Sup: 0.9473 0.9422 0.9389



AUD/USD

The AUD/USD pair was able to break the bullish channel bottom line during the past trades to reach the expected support level 1.0770, which conceder an initial indicator for the bullish movement weakness for the medium trades, that may push down the pair to break down 1.0770 support level, targeting 1.0680 level, with a good chance to retest the broken channel bottom line with testing 1.0985 level.


Res: 1.0917 1.0991 1.1031
Pivot: 1.0877
Sup: 1.0803 1.0763 1.0689

 

[GIGFX]

Thursday 5th of May 2011 GIGFX Technical Analysis Report

EUR/USD

As it is noticed through this chart, the pair broke the resistance level 1.4880 with stability above it but it did not continue and reflected down strongly from this level, also the pair did not achieve any daily close above the level 1.4880, all these signs reflects the difficulty of breaking this level so, it is expected that the pair may re-test the support level 1.4770 which with its breaking down means more declining targeting the level 1.4660 which represents the target of breaking out the confusion area.

The stability of these expectations requires the stability of the resistance level 1.4880.



Res: 1.4918 1.5010 1.5082
Pivot: 1.4846
Sup: 1.4754 1.4682 1.4590






GBP/ USD

The pair is forming Gartley harmonic pattern for the short-term as it tested the support level 1.6480 which represents the point C of the pattern and 76.4% of fibonacci's correction level for the wave AB and now the pair is moving in the range of the last wave CD that targets the resistance level 1.6595 so it is expected that the pair may continue rise during the upcoming trades targeting this level then it will decline again.

The stability of these expectations requires the stability of the support level 1.6480.


Res: 1.6558 1.6629 1.6683
Pivot: 1.6504
Sup: 1.6433 1.6379 1.6308






USD/CHF

The pair registered a new record at the level 0.8548 in the same bearish channel for near and medium-term, but at the end of this candle the pair gave a sign of rising by forming the hammer candle so it is expected that the pair may continue rising targeting to test the resistance level 0.8678 which represents the top border of the channel, and if the pair was able to be stable above this level it may target to test the resistance level 0.9953.

The stability of these expectations requires the stability of the pair above the support level 0.9548.


Res: 0.8656 0.8698 0.8749
Pivot: 0.8605
Sup: 0.8563 0.8512 0.8470




USD/CAD

By ending yesterday trades the pair collect a bullish momentum till it broke the resistance level 0.9551 which was the confined top border till it rose and reached the resistance level 0.9596 so it's expected that the pair will continue rising till it targets the resistance level 0.9646 and if it is able to be stabile above this level therefore the pair will target the resistance level 0.9685 with the probability of remaining trying the pair to decline below the support level 0.9551 which was representing the top border for the confined area.

This scenario depends on closing the pair a good close above the resistance level 0.9596.



Res: 0.9626 0.9662 0.9724
Pivot: 0.9564
Sup: 0.9528 0.9466 0.9430




AUD/USD

The AUD/USD pair was able to break the bullish channel bottom line during the past trades to trade under the expected support level 1.0770 reaching 23.6% correction level for the bullish move from 0.9706 to 1.1011stopping the pair falling during the past short trades, which conceder an initial indicator for the bullish movement weakness for the medium trades, in case the pair tends to continue the bearish direction it's expected to reach 1.0680 level by trading under 23.6% correction level, but in case the pair tends to continue the main bullish movement that will be confirmed by trading above 1.0770 again, it will target the retesting of 1.1011 level which if broke the pair will target 1.1050 level.



Res: 1.0837 1.0930 1.0985
Pivot: 1.0782
Sup: 1.0689 1.0634 1.0541

 

[GIGFX]

Friday 6th of May 2011 GIGFX Technical Analysis Report

EUR/USD

As it was expected through yesterday analysis, the pair declined breaking the support level 1.4770 to continue declining till reached the level 1.4660 which represents the target of exiting out of the confusion area, the bearish positions is still dominating the pair's dealings as the pair succeeded to break the level 1.4660 registering the lowest price at 1.4510, this strong bearish direction for the European common currency has been supported by holding the interest rate at 1.25% so it is expected that, with breaking the level 1.4510 the pair may continue declining till reach the level 1.4342 which represents 76.4% of Fibonacci's correction level for the bullish direction (from 1.4157 to 1.4940).

The stability of these expectations requires the stability of the resistance level 1.4710.


Res: 1.4789 1.5038 1.5178
Pivot: 1.4649
Sup: 1.4400 1.4260 1.4011





GBP/ USD

As it is noticed through this chart, the pair succeeded to break the neckline of the head and shoulders pattern registering the lowest price of yesterday dealings at the level 1.6357; it is expected for the upcoming trades that the pair may decline targeting the level 1.6166 which represents the target of the pattern but under the condition of breaking the level 1.6357 and also the support level 1.6320 which represents 76.4% of fibonacci's correction level for the bullish move (from 1.6166 to 1.6743).

The stability of these expectations requires the stability of the resistance level 1.6450.


Res: 1.6501 1.6614 1.6686
Pivot: 1.6429
Sup: 1.6316 1.6244 1.6131






USD/CHF

As the pair registered new record at the level 0.8554 the day before yesterday while moving in the same bearish channel for short and medium-term, but the pair gave a sign of an upcoming bullish direction by forming the hammer candle so as it was mentioned through yesterday analysis that the pair succeeded to exit this bearish channel at the resistance level 0.8678 which represents the top border of the channel so it is expected that the pair may rise targeting the resistance level 0.8765 and if it was able to break it with stability above it may continue rising targeting the resistance level 0.8853.

The stability of these expectations requires the stability of the pair below the resistance level 0.8707.


Res: 0.8759 0.8814 0.8916
Pivot: 0.8657
Sup: 0.8602 0.8500 0.8445






USD/CAD

As mentioned yesterday, that the pair broke the top border for the sideway channel and reached the targeted prices which was mentioned before but the pair was unable to be stabile above the resistance level 0.9685 therefore it's expected that the pair will continue the correction and rising direction to retest the resistance level 0.9685 and the stability above this level which gives the pair the chance to continue reaching the resistance level 0.9710 which represents 50.0% Fibonacci retracement correction level with breaking this level and the stability above it which makes the pair continue rising till the resistance level 0.9771 which represents 61.6% the same mentioned Fibonacci retracement correction level.

This expectation depends on the stability of the pair above the support level 0.9649.

Res: 0.9729 0.9792 0.8916
Pivot: 0.9648
Sup: 0.9585 0.9504 0.9441





AUD/USD

The AUD/USD pair was able to break the bullish channel bottom line during the past trades to trade under the expected support level 1.0770 and 23.6% correction level for the bullish move from 0.9706 to 1.1011, approaching 38.2% correction level as was expected, in case the pair tends to continue the bearish direction it's expected to reach 50% correction level around 1.0513 price, which depends on the stability of 1.0770 level, but in case the pair tends to continue the main bullish movement that will be confirmed by trading above 1.0770 again, it will target the retesting of 1.1011 level which if broke the pair will target 1.1050 level.



Res: 1.0719 1.0861 1.0953
Pivot: 1.0627
Sup: 1.0485 1.0393 1.0251

 

[GIGFX]

Monday 9th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The treads of the last week saw more declining for the European common currency against the U.S dollar as the pair declined till reached the level 1.4342 which represents 76.4% of Fibonacci's correction level for the bullish move (From 1.4175 to 1.4940) and this is what was expected through the last analysis. A bottom has been formed at the same mentioned level and pushed the pair upside to form a bearish top for the short-term and it is expected to be around the resistance level 1.4456, this bearish top will force the pair to decline to test the support level 1.4342 which with its breaking down the pair means more declining till reach the next support level at 1.4157.

The stability of these expectations rquires the stability of the resistance level 1.4510.


Res: 1.4510 1.4684 1.4782
Pivot: 1.4412
Sup: 1.4238 1.4140 1.3966




GBP/ USD

During trades of the last week the pair declined breaking down the level 1.6450 forming Gartley harmonic pattern for near and medium-term and now the pair is moving in the range of the last wave CD which targets the support level 1.6280 so it is expected that the pair will continue declining during the intraday levels of today targeting the mentioned support level 1.6280 which represents 76.4% of Fibonacci's correction level for the wave XA.

The stability of these expectations requires the stability of the resistance level 1.6450.

Res: 1.6435 1.6501 1.6542
Pivot: 1.6394
Sup: 1.6328 1.6287 1.6221



USD/CHF

After the pair exited out of the bearish channel it is expected to continue its corrective move and may target the resistance level 0.8837 which represents 38.2% of Fibonacci's correction level for the last bearish wave for the medium-term and if the pair broke this level with stability above it the pair will continue its corrective move and will target the resistance level 0.9823 which represents 50.0% of Fibonacci's correction level for the same mentioned wave.

The stability of these expectations requires the stability of the pair above the support level 0.8729 which represents 23.6% of the same mentioned Fibonacci's levels.

Res: 0.8828 0.8874 0.895
Pivot: 0.8752
Sup: 0.8706 0.863 0.8584




USD/CAD

After getting out the pair from the confined area it's expected that the pair will continue the bullish corrective direction therefore it's expected that the pair will rise and also will target the resistance level 0.9647 which represents 38.2% Fibonacci retracement correction level for the bullish direction and the stability of the pair above this level which will force the pair to continue the corrective direction till reaching the new resistance level 0.9709 which represents 50.0% Fibonacci retracement correction level and the stability of the pair above this level which will force the pair to target the resistance level 0.9771 which represents 61.8% from the same previous mentioned Fibonacci retracement correction levels.
But this depends on closing the pair a good close above the resistance level 0.9647 which represents 38.2% from the same previous mentioned Fibonacci retracement correction levels.


Res: 0.9717 0.9772 0.9845
Pivot: 0.9644
Sup: 0.9589 0.9516 0.9461





AUD/USD

The AUD/USD pair was able to break the bullish channel bottom line during the past trades to trade under the expected support level 1.0770 and 23.6% correction level for the bullish move from 0.9706 to 1.1011, approaching 38.2% correction level as was expected to reflect up from this level retesting 1.0770 level currently, in case the pair tends to continue the bearish direction it's expected to reach 50% correction level around 1.0513 price, which depends on the stability of 1.0770 level, but in case the pair tends to continue the main bullish movement that will be confirmed by trading above 1.0770 again, it will target the retesting of 1.1011 level which if broke the pair will target 1.1050 level.


Res: 1.0981 1.1001 1.1203
Pivot: 1.0779
Sup: 1.0759 1.0557 1.0537

 

[GIGFX]

Tuesday 10th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The 17 nation currency dropped against the U.S dollar as yesterday trades saw breaking the support level 1.4342 which represents 76.4% of Fibonacci's correction level for the bullish move (from 1.4157 to 1.4940) to register the lowest price of these trades at the level 1.4255, a bottom has been formed at this level and pushed the pair to re-test the nearest resistance level, one of them is the level 1.4375 which pushed the pair again targeting the support level 1.4255, more declining is expected for the pair targeting the level 1.4157but under the condition of breaking the support level 1.4255.

The stability of these expectations requires the stability of the resistance level 1.4375.


Res: 1.4452 1.4540 1.4639
Pivot: 1.4353
Sup: 1.4265 1.4166 1.4078




GBP/ USD

As it was expected through yesterday analysis, the pair succeeded to reach the target of the harmonic pattern Gartley by testing the support level 1.6280 and forming a reversal candle just when it touched this level and reflected upside expecting that the pair may try to re-test the resistance level 1.6450 which represents the point B for the formed pattern during today's intraday trades before continue declining again targeting the support level 1.6280.

The stability of these expectations requires the stability of the resistance level 1.6450.


Res: 1.6449 1.6496 1.6586
Pivot: 1.6359
Sup: 1.6312 1.6222 1.6175




USD/CHF

After the pair broke out of the bearish channel it is expected to continue the corrective bullish direction and will target the resistance level 0.8801 again and this level is the first target that the pair achieved after breaking out of this channel so if the pair broke this level it will target a new resistance level at 0.8938, but under the condition of the stability of the pair above the resistance level 0.8801.


Res: 0.8766 0.8816 0.8845
Pivot: 0.8737
Sup: 0.8687 0.8658 0.8608





USD/CAD

After getting out the pair from the confined area it's expected that the pair will continue the bullish corrective direction therefore it's expected that the pair will rise and also will target the resistance level 0.9647 which represents 38.2% Fibonacci retracement correction level for the bullish direction and although yesterday's pair trying to break this level but it wasn't able to be stabile above it but the pair stability above this level which will force the pair to continue the corrective direction till reaching the new resistance level 0.9709 which represents 50.0% Fibonacci retracement correction level and the stability of the pair above this level which will force the pair to target the resistance level 0.9771 which represents 61.8% from the same previous mentioned Fibonacci retracement correction levels.

But this depends on closing the pair a good close above the resistance level 0.9647 which represents 38.2% from the same previous mentioned Fibonacci retracement correction levels.


Res: 0.9672 0.9729 0.9764
Pivot: 0.9637
Sup: 0.9580 0.9545 0.9488




AUD/USD

The AUD/USD pair was able to trade under the expected support level 1.0770 and 23.6% correction level for the bullish move from 0.9706 to 1.1011, approaching 38.2% correction level as was expected to reflect up from this level retesting 1.0770 level currently with facing the moving average (50), in case the pair tends to continue the bearish direction it's expected to reach 50% correction level around 1.0513 price, which depends on the stability of 1.0770 level with the moving average (50), but in case the pair tends to continue the main bullish movement that will be confirmed by trading above 1.0770 again, it will target the retesting of 1.1011 level which if broke the pair will target 1.1050 level.


Res: 1.0844 1.0883 1.0957
Pivot: 1.0770
Sup: 1.0731 1.0657 1.0618

 

[GIGFX]

Wednesday 11th of May 2011 GIGFX Technical Analysis Report

EUR/USD

Yesterday trades saw rising the pair for the second straight day using the formed bottom at the support level 1.4255, this rising is a strong sign of beginning forming a corrective bullish direction for the bearish direction which started from 1.4939, during the last intraday trades the pair was trying to break the level 1.4416 which represents 23.6% of Fibonacci's correction level for the bearish move (From 1.4939 to 1.4255), breaking this level means more rising for the pair targeting the level 1.4516 which represents 38.2% of the same Fibonacci's levels for the same bearish move, and what confirms the next rise is trading the pair above the simple moving averages now.

The stability of these expectations requires the stability of the support level 1.4325.


Res: 1.4457 1.4505 1.4599
Pivot: 1.4363
Sup: 1.4315 1.4221 1.4173




GBP/ USD

As it was expected through yesterday’s analysis, the pair succeeded to reach the target of the harmonic pattern Gartley by testing the support level 1.6280 and forming a reversal candle just when it touched this level and reflected upside expecting that the pair may try to re-test the resistance level 1.6450 which represents the point B for the formed pattern during today's intraday trades before continue declining again targeting the support level 1.6280.

The stability of these expectations requires the stability of the resistance level 1.6450.

Yesterday analysis is still remaining

Res: 1.6417 1.6470 1.6521
Pivot: 1.6366
Sup: 1.6313 1.6262 1.6209




USD/CHF

After the pair broke out of the bearish channel, it is expected to continue the corrective bullish direction and will target the resistance level 0.8801 again and this level is the first target that the pair achieved after breaking out of this channel and although the pair broke this level but it was not able to be stable above it, so if the pair broke this levelagain, it will target a new resistance level at 0.8938, but under the condition of the stability of the pair above the resistance level 0.8801.

Res: 0.8844 0.8891 0.8959
Pivot: 0.8776
Sup: 0.8729 0.8661 0.8614




USD/CAD

As noticed in the chart; after declining the pair for the medium and short-terms, the pair is trying to correct the direction during the intraday trades whereas the pair is ready to break the resistance level 0.9568 which represents 23.6% Fibonacci retracement correction level; the pair’s ability on breaking this level gives the chance on targeting the resistance level at 0.9646 which represents 38.2% from the same previous mentioned Fibonacci retracement correction levels and the stability above this level will give the pair the chance to target the resistance level 0.9707 which represents 50.0%from the same previous mentioned Fibonacci retracement correction levels.

This scenario depends on having the pair a good close above the resistance level 0.9568 which represents 23.6% Fibonacci retracement correction level.


Res: 0.9622 0.9683 0.9713
Pivot: 0.9592
Sup: 0.9531 0.9501 0.9440




AUD/USD

The AUD/USD pair was able to trade above the level 1.0770 and 23.6% correction level for the bullish move from 0.9706 to 1.1011, coinciding with passing up the moving average (50), as the pair has formed the harmonic pattern (AB=CD) that requires the stability of the (C) point at 1.0534 with breaking the (B) point at 1.1011 to achieve the (D) point that represents the pattern expected target, but in case the pair tends to continue the previous falling, it is expected to target 50% correction level around 1.0513 price, which depends on the stability of 1.0770 level with the moving average (50).

Res: 1.0876 1.0917 1.0988
Pivot: 1.0805
Sup: 1.0764 1.0693 1.0652

 

[GIGFX]

Thursday 12th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The pair is still declining for short and medium-term as it succeeded yesterday to break the level 1.4320 with stability below it during the whole Asian session forming a Flag pattern that continues the bearish direction, so it is expected that the pair will continue declining during today's intraday levels targeting the support level 1.4085 as the first target of the formed pattern followed by the support level 1.3985.

The stability of these expectations requires the stability of the resistance level 1.4320.


Res: 1.4352 1.4513 1.4603
Pivot: 1.4262
Sup: 1.4101 1.4011 1.3850




GBP/ USD

It is noticed through this chart that the pair rose to re-test the neckline of the head and shoulders pattern and formed a top at the testing area, this top forced the pair to decline again supported by rising the U.S dollar against all of its counterparts, it is expected that the pair may continue declining till reaches the target of the pattern at 1.6166 but under the condition of breaking the support level 1.6320.

The stability of these expectations requires the stability of the resistance level 1.6455.


Res: 1.6467 1.6589 1.6662
Pivot: 1.6394
Sup: 1.6272 1.6199 1.6077




USD/CHF

After the pair broke out the bearish channel and broke the resistance level 0.8797, it is expected that the pair will continue rising targeting the resistance level 0.8938 which represents the target of breaking out of the bearish channel and also coincides with testing the bearish trendline for the short-term.

The stability of these expectations requires the stability of the pair below the support level 0.8797.

Res: 0.8913 0.8949 0.9014
Pivot: 0.8848
Sup: 0.8812 0.8747 0.8711



USD/CAD

As noticed in the chart; after declining the pair for the medium and short-terms,the pair tried to correct the bearish directionduring the intraday trades whereas yesterday it broke the resistance level 0.9568 which represents 23.6% Fibonacci retracement correction level and the breaking of this level gives the chance of targeting the resistance level at 0.9646 which represents 38.2% from the same previous Fibonacci retracement correction level and the stability above this level shall lead the pair to target the resistance level 0.9707 which represents 50.0% Fibonacci retracement correction level then the resistance level 0.9770 which represents 68.8%.
This expectation depends on closing the pair a good close above the resistance level 0.9646 which represents 38.2% Fibonacci retracement correction level.

Res: 0.9665 0.9713 0.9790
Pivot: 0.9588
Sup: 0.9540 0.9463 0.9415




AUD/USD


The AUD/USD pair was able to form a bearish top during the previous short trades to push the pair down trading around 1.0580 forming (1.2.3) bearish pattern that suppose to target 1.0415 level after the pair pass down 1.0580 level, but in case this level held as a support level during the upcoming intraday trades; the pair may rise again to retest 1.0888 level.

Res: 1.0835 1.0973 1.1059
Pivot: 1.0749
Sup: 1.0611 1.0525 1.0387

 

[GIGFX]

Friday 13th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The support level 1.4185 succeeded to stop declining the pair during the trades of the Asian session forming Gartley harmonic pattern and now the price is moving in the range of the last wave which targets the resistance level 1.4350 which coincides with 76.4% of Fibonacci's correction level for the wave XA so it is expected that the pair will rise during the intraday levels of today targeting this level then it will reflect testing the bullish trendline AC for the intraday levels.

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

Res: 1.4303 1.4361 1.4447
Pivot: 1.4217
Sup: 1.4159 1.4073 1.4015




GBP/ USD

The bearish direction is still dominating the trades of the pair for near and medium-term as yesterday trades saw more declining achieving the lowest price at the support level 1.6235 at which a bottom has been formed and the trades are still above it so it is expected that the pair will continue rising during today's trades targeting the level 1.6360 but if the pair succeeded to break down the support level 1.6235, the pair will continue declining till reach the level 1.6166 which represents the target of the head and shoulders pattern.


Res: 1.6368 1.6447 1.6514
Pivot: 1.6301
Sup: 1.6222 1.6155 1.6076



USD/CHF

As it is noticed through this chart the pair formed a bullish wedge reversal pattern so it is expected that the pair will decline during the intraday trades of today specially after breaking the support level 0.8841 which represents the bottom border of the wedge, to target the level 0.8779 and if the pair succeeded to be stable below it, it will target the support level 0.8712.

The stability of these expectations requires the stability of the resistance level 0.8841.

Res: 0.8766 0.8797 0.8835
Pivot: 0.8728
Sup: 0.8697 0.8659 0.8628



USD/CAD

After trying the pair yesterday to reach the targeted price at 0.9707 which represents 50.0% Fibonacci retracement correction level but it wasn't able to be stabile near it, therefore it’s expected during the intraday trades that the pair will target this level again but the pair must break then stabile above the resistance level 0.9646 which represents 38.2% Fibonacci retracement correction level and reaching the pair the resistance level 0.9707 which represents 50.0% Fibonacci retracement correction level and the stability above it which gives the pair a chance to reach the resistance level 0.9770 which represents 61.8%Fibonacci retracement correction level.

This expectation depends on the stability of the resistance level 0.9646 which represents 38.2%from the same previous mentioned Fibonacci retracement correction levels.


Res: 0.9679 0.9733 0.9774
Pivot: 0.9638
Sup: 0.9584 0.9543 0.9489




AUD/USD

The AUD/USD pair faced the support level 1.0565 previously after the pair formed (1.2.3) bearish wave that suppose to target 1.0415 level after passing down 1.0580 level, but in case this level held as a support level during the upcoming intraday trades; a harmonic pattern may be formed that may push the pair to rise again to retest 1.0888 level.

Res: 1.0737 1.0797 1.0883
Pivot: 1.0651
Sup: 1.0591 1.0505 1.0445

 

[GIGFX]

Monday 16th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The bearish direction is still dominating the trades of the pair for short-term and intraday levels and as it is noticed, the pair is moving below the bearish trendline expecting more declining but with the probability of rising the pair through the intraday levels of today to re-test the resistance level 1.4160 then it will continue declining targeting the support level 1.3990 during today's intraday levels.

The stability of these speculations requires the stability of the resistance level 1.4160.

Res: 1.4270 1.4441 1.4543
Pivot: 1.4168
Sup: 1.3997 1.3895 1.3724



GBP/ USD

As it was expected through the previous analysis, the pair continued declining for near and medium-term reaching the support level 1.6166 which represents the target of the pattern head and shoulders, this price represents the lowest price during the trades of the last five weeks expecting more declining as dollar rises against all its counterparts, it is expected also that, with breaking the support level 1.6166, the pair will continue declining targeting the level 1.6010 which represents 127% of Fibonacci's continuous level for the bullish move from (1.6166 to 1.6743).

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


Res: 1.6277 1.6371 1.6437
Pivot: 1.6211
Sup: 1.6117 1.6051 1.5957



USD/CHF

As it is noticed through this chart, the pair is moving inside a bullish channel but it faced the resistance level 0.8940 so it is expected that the pair will decline during today's intraday trades targeting the support level 0.8851 which represents the bottom border of the mentioned channel with the probability of testing the pair the resistance level 0.8940.

The stability of these speculations requires the stability of the pair below the resistance level 0.9862 which represents the top border of the channel.

Res: 0.8988 0.9041 0.9137
Pivot: 0.8892
Sup: 0.8839 0.8743 0.8690



USD/CAD

The bullish direction is still dominating the pair direction for the medium and the short-terms whereas the pair is not forming the ( Gartley ) harmonic pattern for the price action which is moving now inside the last CD pattern's wave which targets the resistance level 0.9774 to end the pattern by ending forming this wave therefore it's expected that the pair's bullish scenario will be completed targeting by that rising till the level 0.9774 which represents the C point.

Succeeding this scenario depends on closing the pair above the resistance level 0.9713 which represents the pattern's B point.

Res: 132.9 133.99 134.84
Pivot: 132.05
Sup: 130.96 130.11 129.02




AUD/USD

The AUD/USD pair tested 23.6% correction level for the bullish move from 0.9706 to 1.1011, to fall form this level to continue the previous falling that suppose to target the support level 1.0415 as the pair has formed (1.2.3) bearish wave that suppose to target 1.0415 level by passing down 1.0580 level, but in case this level held as a support level during the upcoming intraday trades; a harmonic pattern may be formed that may push the pair to rise again to retest 1.0888 level.

Res: 1.0677 1.0794 1.0873
Pivot: 1.0598
Sup: 1.0481 1.0402 1.0285

 

[GIGFX]

Tuesday 17th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The bearish direction is still dominating the pair trades for the short-term and intraday levels, it is noticed that the pair is moving inside a bearish channel and it has tested its bottom border at the support level 1.4065 at the beginning of yesterday trades, this level held steady against the pair's testing pushing the pair upside during the intraday levels of yesterday till reached to test the resistance level 1.4235 expecting more declining during today's intraday levels targeting to re-test the support level 1.4065. If the pair succeeded to break this level with stability below it, the pair will target to reach the support level 1.3955 to test it.

The stability of these expectations requires the stability of the resistance level 1.4235.


Res: 1.4251 1.4346 1.4448
Pivot: 1.4149
Sup: 1.4054 1.3952 1.3857




GBP/ USD

Till this moment, the pair is unable to break the support level 1.6166 as the moves are still bearish for short and medium terms, these moves has been formed through moving inside a bearish channel for short and medium-term, it is noticed during the last intraday trades that the pair retested the resistance level 1.6230 and if this level held steady against the pair's testing, a top will be formed that will push the pair to re-test the support level 1.6166which with its breaking down means more declining targeting the level 1.6010which represents 127% of Fibonacci's continuous level for the bullish move (From 1.6166 to 1.6743). If the pair succeeded to break up the resistance level 1.6230 it will continue rising till reaches the level 1.6303 coinciding with the top border of the bearish channel.


Res: 1.6243 1.6295 1.6337
Pivot: 1.6201
Sup: 1.6149 1.6107 1.6055



USD/CHF

Yesterday, the pair succeeded to break out the bullish channel by breaking its bottom border at the support level 0.8851 expecting more declining targeting the support level 0.8802 followed by the support level 0.8774 if it was stable below the support level 0.8802, with the probability of re-testing the resistance level 0.8877 which represents the bottom border of the broken channel.

The stability of these expectations requires the stability of the pair below the resistance level 0.8877 which represents the bottom border of the channel.

Res: 0.8923 0.9001 0.9063
Pivot: 0.8861
Sup: 0.8783 0.8721 0.8643




USD/CAD

The pair achieved what was expected yesterday by forming the gartley harmonic pattern therefore it's expected that the bearish scenario will be the pair's scenario targeting the support level 0.9713 which represents the B point and the pair stability below this level which gives the chance for the pair to target the support level 0.9513.

This scenario depends on the pair's stability below the resistance level 0.9774which represents the pattern's D point.


Res: 0.9787 0.9819 0.9872
Pivot: 0.9734
Sup: 0.9702 0.9649 0.9617



AUD/USD

The AUD/USD pair tested 23.6% correction level for the bullish move from 0.9706 to 1.1011, to fall form this level to continue the previous falling that suppose to target the support level 1.0415 as the pair has formed (1.2.3) bearish wave that suppose to target 1.0415 level by passing the stability of the formed top around the level 1.0640, but in case this level was passed during the upcoming intraday trades; that may push the pair to rise again to retest 1.0888 level.


Res: 1.0624 1.0696 1.0752
Pivot: 1.0568
Sup: 1.0496 1.0440 1.0368

 

[GIGFX]

Thursday 19th of May 2011 GIGFX Technical Analysis Report

EUR/USD

During the Asian session today, the pair succeeded to break the resistance level 1.4235 which represents 23.6% of Fibonacci's correction level for the last bearish wave for the short-term breaking out of this bearish channel in which it was moving for the short-term and intraday levels. it is expected that the pair will rise during today's intraday levels targeting the resistance level 1.4385 which represents 38.2% of the same Fibonacci's correction level followed by the level 1.4495 which represents 50.0% of Fibonacci's correction level for the same mentioned levels for the last near-term bearish wave.

The stability of these expectations requires the stability of the support level 1.4190.

Res: 1.4291 1.4334 1.4382
Pivot: 1.4243
Sup: 1.4200 1.4152 1.4109

[/url]



[B]GBP/ USD[/B]

The pair is declining for short and medium-term supported by U.K negative economic data as it was expected to rise breaking the top border of the bearish channel and it failed to do that, a bearish top has been formed at the level 1.6290 coinciding with the top border of the channel and pushed the pair downside breaking the support level 1.6185 to achieve the lowest price for yesterday trades at 1.6105, a new bearish bottom has been formed at this level. Despite of this declining, a bullish move is noticed in the stochastic index which means existing the positive divergence that shifts the direction from bearish to bullish so that, during the last intraday dealings, the pair rose again to test the level 1.6185 which became a resistance level after its breaking downside, it is expected that the pair will break this level to rise again and test the top border of the channel which with its breaking, the pair will continue rising targeting the support level 1.6290 again.

The stability of these expectations requires the stability of the support level 1.6105.

Res: 1.6268 1.6369 1.6451
Pivot: 1.6186
Sup: 1.6085 1.6003 1.5902
[IMG][img]http://img105.herosh.com/2011/05/19/249622767.png[/url]



[B]USD/CHF[/B]

As it is noticed through this chart, the pair formed head and shoulders pattern and now the pair is above its neckline at the support level 0.8798 waiting for a close below this level despite the pair tried yesterday, so, it is expected that during today's intraday levels, the pair will decline targeting the support level 0.8722 and if it was able to be stable below it, the pair will target the support level 0.8647.

The stability of these expectations requires the stability of the pair below the support level 0.8798.

Res: 0.8840 0.8872 0.8901
Pivot: 0.8811
Sup: 0.8779 0.8750 0.8718
[IMG][img]http://img103.herosh.com/2011/05/19/650121238.png[/url]



[B]USD/CAD[/B]

As noticed in the chart that after forming the gartley harmonic pattern, it reflected down testing the support level 0.9713 which represents the B point for the pattern and was stable below it.Therefore it's expected that the bearish move will be continued till reaching the support level 0.9650 and the stability below this level will give the pair the chance to continue declining till the support level 0.9513 which represents the pattern's C point.

This scenario depends on the pair's stability below the support level 0.9713 which represents the pattern's B point.

Res: 0.9735 0.9776 0.9796
Pivot: 0.9715
Sup: 0.9674 0.9654 0.9613
[IMG][img]http://img105.herosh.com/2011/05/19/563751731.png[/url]


[B]AUD/USD[/B]

The AUD/USD rose previously approaching 23.6% correction level for the bullish move from 0.9706 to 1.1011for the second time with the bearish trend for the medium and short periods, after it fell from this level to face 38.2% correction level around 1.0513 level, if the mentioned resistances held it will push the pair down to tray breaking 38.2% level; to target then 50% level around 1.0360, but in case those resistances was passed during the upcoming intraday trades; that may push the pair to rise again to retest 1.0888 level.

The previous analyze remains

Res: 1.0672 1.0716 1.0768
Pivot: 1.0620
Sup: 1.0576 1.0524 1.0480
[ATTACH]1207.vB[/ATTACH]

 

[GIGFX]

Friday 20th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The pair succeeded to end yesterday dealings rising as it was expected through the last analysis but it is noticed that a bullish wedge has been formed that shifts this direction, this expresses weakness of this bullish direction for the short-term and intraday levels so it is expected that the pair may decline during the intraday trades of today but breaking the support level 1.4260 is needed as a confirmation for this declining, this confirms breaking the pair out of this formed pattern to target then the support level 1.4060 to test it.

The stability of these expectations requires the stability of the resistance level 1.4390.

Res: 1.4352 1.4398 1.4471
Pivot: 1.4279
Sup: 1.4233 1.4160 1.4114

[/url]


[B]GBP/ USD[/B]

As it was expected through yesterday analysis, the pair rose supported by the formed bottom at the support level 1.6105 and by the existence of a positive divergence that shifts the bearish direction, the pair broke the resistance level 1.6185 and also broke the top border of the bearish tending to rise correctly targeting the level 1.6425 which represents the target of breaking out of the bearish channel and also represents 50.0% of Fibonacci's correction level for the bearish direction (from 1.6745 to 1.6105). In order to reach this level the pair should break the resistance levels 1.6290 and 1.6349.
The stability of these expectations requires the stability of the support level 1.6185 and also requires holding the top border of the bearish channel steady.


Res: 1.6275 1.6313 1.6386
Pivot: 1.6202
Sup: 1.6164 1.6091 1.6053
[IMG][img]http://img105.herosh.com/2011/05/20/772761278.png[/url]



[B]USD/CHF[/B]

As it is noticed through this chart, the pair is trading inside a bearish channel expecting more declining during the upcoming intraday levels targeting to test the support level 0.8749 which represents the bottom border of the channel with the probability of re-testing the resistance level 0.8858 which represents the top border of the channel and if the pair succeeded to be stable above it, the pair will target the resistance level 0.8912 and if the pair succeeded to be stable above this level, the pair will target the level 0.8970.

Res: 0.8783 0.8758 0.871
Pivot: 0.8831
Sup: 0.8856 0.8904 0.8929
[IMG][img]http://img102.herosh.com/2011/05/20/200879093.png[/url]



[B]USD/CAD[/B]

As mentioned yesterday in the chart that after forming the gartley harmonic pattern, it reflected down testing the support level 0.9713 which represents the B point for the pattern and was stable below it then it tested the support level 0.9650 but it was not able to break this level; Therefore it's expected that the bearish move will be continued till reaching the support level 0.9650 and the stability below this level will give the pair the chance to continue declining till the support level 0.9513 which represents the pattern's C point.

This scenario depends on the pair's stability below the support level 0.9650.

Res: 0.9706 0.9739 0.9766
Pivot: 0.9679
Sup: 0.9646 0.9619 0.9586
[IMG][img]http://img102.herosh.com/2011/05/20/861090088.png[/url]


[B]AUD/USD[/B]

The AUD/USD rose previously approaching 23.6% correction level for the bullish move from 0.9706 to 1.1011for the second time approaching the bearish trend for the medium and short periods, after it fell from this level to face 38.2% correction level around 1.0513 level to also form a bearish triangle, if the mentioned resistances held with the breaking of triangle bottom line it will push the pair down to tray breaking 38.2% level; to target then 50% level around 1.0360, but in case those resistances was passed during the upcoming intraday trades; that may push the pair to rise again to retest 1.0888 level.

Res: 1.0701 1.0734 1.0788
Pivot: 1.0647
Sup: 1.0614 1.0560 1.0527
[ATTACH]1211.vB[/ATTACH]

 

[GIGFX]

Monday 23rd of May 2011 GIGFX Technical Analysis Report

EUR/USD

The medium, short-term trades and the intraday are still bearish, whereas the EUR is declining strongly against the main currencies, it's noticed in the chart that the EUR/USD pair is trying to break the support level 1.4045 which breaking it represents confirming continuing forming the bearish direction for the long-term, it's expected in case of this breaking that the pair will target declining the level 1.3964 which represents 127% Fibonacci retracement continuous level for the bullish direction (from 1.4045 to 1.4345) breaking this level also means a further drop till the next support level at 1.3860.

This expectation depends on the stability of the resistance level 1.4115.

Res: 1.4293 1.4425 1.4505
Pivot: 1.4213
Sup: 1.4081 1.4001 1.3869

[/url]


[B]GBP/ USD[/B]

The end of last week trades saw continuing rising the GBP/USD pair till it reached the resistance level 1.6290, whereas failing broking this level up, that was a sign on declining the pair again to test the nearest resistance levels, at the end of last week trades within the beginning of this week trades it's noticed that the main currencies are dropping sharply against the U.S dollar, therefore it's expected during the next trades a further drop for the pair but if the support level 1.6185 broken down; the pair will target the next support level at 1.6105, breaking this level also will confirm continuing forming the bearish direction for the medium and long-terms.

This expectation depends on the stability of the resistance level 1.6290.


Res: 1.6308 1.6373 1.6444
Pivot: 1.6237
Sup: 1.6172 1.6101 1.6036
[IMG][img]http://img101.herosh.com/2011/05/23/365361509.png[/url]


[B]USD/CHF[/B]

It's expected for the USD/CHF pair to continue the bearish direction targeting the support level 0.8768, and trading under this level gives a chance for further falling to target then the support level 0.8715 that may coincides with the channel bottom line, with a good chance for bullish move to retest the resistance level 0.8843 that coincides with the channel top line.

This analyze requires the stability of the resistance level 0.8843 with the channel top line.

Res: 0.8835 0.8899 0.8943
Pivot: 0.8791
Sup: 0.8727 0.8683 0.8619
[IMG][img]http://img103.herosh.com/2011/05/23/378623484.png[/url]


[B]USD/CAD[/B]

The bullish direction remain dominating the pair direction for the medium and short-terms whereas forming a harmonic pattern is still forming which the price action has formed it which is the (AB=CD) which is moving inside the pattern's last CD wave which is targeting the resistance level 0.9915 to end the pattern by ending forming this wave therefore it's expected that the pair's bullish move will be continued targeting by that the level 0.9915.
Succeeding this scenario depends on closing the pair a good close above the resistance level 0.9792 which represents the B point.


Res: 0.9787 0.9843 0.9917
Pivot: 0.9713
Sup: 0.9657 0.9583 0.9527
[IMG][img]http://img104.herosh.com/2011/05/23/999359235.png[/url]


[B]AUD/USD[/B]

The AUD/USD rose previously to retest 23.6% correction level for the bullish move from 0.9706 to 1.1011 for the second time facing the bearish trend for the medium and short periods, to also form a bearish triangle, which with the stability of the mentioned resistances caused the pair falling to approach the expected target level at 1.0513 represented by 38.2% correction level, and if the pair was able to trade under it; the pair will target then 50% level around 1.0360, but in case 38.2% level held it will push the pair to rise again in order to retest the nearest resistance that might be 23.6% level around 1.0703 price.

Res: 1.0713 1.0761 1.0813
Pivot: 1.0661
Sup: 1.0613 1.0561 1.0513
[ATTACH]1213.vB[/ATTACH]

 

[GIGFX]

Tuesday 24th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The bearish direction is still dominating the price action of the pair for the short-term and the intraday levels as the pair during yesterday trades succeeded to break the support level 1.4070 which the pair is re-testing it now forming a flag pattern that continues the direction. so it is expected that the pair will continue declining during today's intraday trades targeting the support level 1.3970 as the first targets of this bullish move followed by the support level 1.3875 to test it and it is the final target of this pattern.

The stability of these expectations requires the stability of the resistance level 1.4140.

Res: 1.4140 1.4232 1.4318
Pivot: 1.4054
Sup: 1.3962 1.3876 1.3784

[/url]


[B]GBP/ USD[/B]

As it is noticed through this chart, the pair is still forming bearish move for medium and long-term through moving inside a bearish channel, the last trades are around the support level 1.6105 although the pair achieved a lower level but it did not achieve a good close below this level, if the pair achieved this good close more declining is expected targeting the next support level at 1.5970 at which the price is expected to coincide with the bottom border of the bearish channel.

The stability of these expectations requires the stability of the resistance level 1.6165

Res: 1.6206 1.6291 1.6351
Pivot: 1.6146
Sup: 1.6061 1.6001 1.5916
[IMG][img]http://img103.herosh.com/2011/05/24/495512454.png[/url]


[B]USD/CHF[/B]

As it is noticed through this chart, the pair is moving inside a sideways channel between the resistance level 0.8879 which represents the top border of the channel and the support level 0.8771 which represents the bottom border of the channel, after the pair was unable to break up the resistance level 0.8879, it reflected again to re-test the support level 0.8771 but it should break the resistance level 0.8817 with stability below it because if the pair was unable to be stable below, it will re-test the resistance level 0.9976.

Res: 0.8871 0.8905 0.8962
Pivot: 0.8814
Sup: 0.8780 0.8723 0.8689
[IMG][img]http://img104.herosh.com/2011/05/24/224082086.png[/url]


[B]USD/CAD[/B]

The pair formed during the previous trades a bullish channel for the medium and short-terms, so it's expected that the pair will continue rising during the intraday trades retesting the resistance level 0.9795 and the stability above this level gives the pair the chance to continue rising till targeting the resistance level 0.9860 which represents the channel's top border.

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

Res: 0.9811 0.9847 0.9886
Pivot: 0.9772
Sup: 0.9736 0.9697 0.9661
[IMG][img]http://img102.herosh.com/2011/05/24/578461996.png[/url]


[B]AUD/USD[/B]

The AUD/USD rose previously after reaching 38.2% correction level for the bullish move from 0.9706 to 1.1011, which might be to retest the bearish trend with testing appropriate resistance level that might be 1.0580, with these resistances stability the pair will fall breaking 38.2% level to target 50% level around 1.0360, but passing 1.0580 level with breaking the bearish trend will push the pair to rise again in order to retest the nearest resistance that might be 23.6% level around 1.0703 price.

Res: 1.0612 1.0722 1.0789
Pivot: 1.0545
Sup: 1.0435 1.0368 1.0258
[ATTACH]1215.vB[/ATTACH]

 

[GIGFX]

Wednesday 25th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The bearish direction is still dominating the price action of the pair for the short-term and the intraday levels as the pair during yesterday trades succeeded to break the support level 1.4070 which the pair is re-testing it now forming a flag pattern that continues the direction. So it is expected that the pair will continue declining during today's intraday trades targeting the support level 1.3970 as the first targets of this bullish move followed by the support level 1.3875 to test it and it is the final target of this pattern.

The stability of these expectations requires the stability of the resistance level 1.4140.

Yesterday analysis is still remaining

Res: 1.4154 1.4209 1.4285
Pivot: 1.4078
Sup: 1.4023 1.3947 1.3892

[/url]


[B]GBP/ USD[/B]


The pair is still moving inside a bearish channel for medium and long-term, yesterday trades saw the stability of the support level 1.6105 so that the pair pushed rising to form a bearish top at the resistance level 1.6205 and it is expected that the pair will use this top to decline and test the support level 1.6105 which with its breaking down means more declining targeting the level 1.5970, but if the pair broke the resistance level 1.6205 the pair will push trying to break the top border of the channel and then the resistance level 1.6305.

Res: 1.6238 1.6297 1.6387
Pivot: 1.6148
Sup: 1.6089 1.5999 1.5940
[IMG][img]http://img105.herosh.com/2011/05/25/757060264.png[/url]


[B]USD/CHF[/B]

As it is noticed through this chart, the pair is moving inside a sideways channel between the resistance level 0.8879 which represents the top border of the channel and the support level 0.8771 which represents the bottom border of the channel, after the pair tried to test the support level 0.8771 which represents the bottom border of the channel it is expected for the pair that it will reflect again to re-test the resistance level 0.8879 which represents the top border of the channel.
The stability of these expectations requires the stability of the pair above the support level 0.8771

Res: 0.8867 0.8935 0.8978
Pivot: 0.8824
Sup: 0.8756 0.8713 0.8645
[IMG][img]http://img105.herosh.com/2011/05/25/196795699.png[/url]


[B]USD/CAD[/B]

The pair is still trading inside the bullish channel for the medium and long-terms, therefore it's expected that the pair will continue rising during the intraday trades targeting the resistance level 0.9860 especially after breaking the resistance level 0.9795 which gives the chance for the pair to continue rising till it targets the resistance level 0.9860 which represents the channel's top border.

This scenario depends on the stability of the pair above the support level 0.9795.

Res: 0.9786 0.9807 0.9824
Pivot: 0.9769
Sup: 0.9748 0.9731 0.9710
[IMG][img]http://img101.herosh.com/2011/05/25/929527533.png[/url]


[B]AUD/USD[/B]

The AUD/USD pair fell previously after testing 1.0580 resistance to pass down 38.2% correction level for the bullish move from 0.9706 to 1.1011forming (1.2.3) wave that suppose to target 1.0360 level coinciding with 50% correction level, but trading above 1.0580 level with breaking the bearish trend will push the pair to rise again in order to retest the nearest resistance that might be 23.6% level around 1.0703 price.

Res: 1.0599 1.0641 1.0702
Pivot: 1.0538
Sup: 1.0496 1.0435 1.0393
[ATTACH]1216.vB[/ATTACH]

 

[GIGFX]

Thursday 26th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The EUR/USD pair had a bullish move during the previous short and medium trades to close the previous trading period above the bearish trend line for the medium and long trades, where the pair is facing 23.6% correction level for the bearish move from 1.4939 to 1.3969, and if the pair was able to trade above this level it will continue rising targeting 1.4265 resistance then 1.4340 that coincides with 38.2% correction level, but in case 23.6% level held it will push down the pair to trade under the bearish trend again retesting the support level 1.4125.

Res: 1.4133 1.4179 1.4239
Pivot: 1.4073
Sup: 1.4027 1.3967 1.3921

[/url]


[B]GBP/ USD[/B]

Yesterday's trades saw a strong rise for the GBP/USD, the pair was able to break the resistance level 1.6205 and also breaking the bearish channel's top border to begin the pair forming a corrective bullish direction for the medium and the short-terms, whereas it's expected that the bullish move will be continued till reaching the level 1.6483 which represents the targeted price to get out of this bearish channel which also represents 61.8% Fibonacci retracement correction level for the bearish direction (from 1.6745 to 1.6058), reaching this level; the level 1.6320 must be broken which represents 38.2% Fibonacci retracement correction level for the same previous mentioned bearish direction.

This scenario depends on the stability of the support level 1.6220.

Res: 1.6335 1.6398 1.6500
Pivot: 1.6233
Sup: 1.6170 1.6068 1.6005
[IMG][img]http://img103.herosh.com/2011/05/26/932732359.png[/url]



[B]USD/CHF[/B]

As it is noticed through this chart, the pair is trading inside a bearish channel but the pair was unable to break the support level 0.8694 which represents the bottom border of the channel so it is expected to rise during the intraday levels targeting the resistance level 0.8773 and if the pair succeeded to be stable above this level it will target a new resistance level at 0.8825 which represents the top border of the channel.

The stability of these expectations requires the stability of the pair above the support level 0.8694 which represents the bottom border of the channel.

Res: 0.8789 0.8853 0.8894
Pivot: 0.8748
Sup: 0.8684 0.8643 0.8579
[IMG][img]http://img104.herosh.com/2011/05/26/346375372.png[/url]



[B]USD/CAD[/B]

The pair is moving inside the confined area for the short-term between the resistance level 0.9795 which represents the top border for this confined area and the support level 0.9754 which represents the lower border for this confined area, therefore it's expected that the pair will retest the resistance level 0.9795 during the intraday trades which represents the confined area top border and the stability above this level will give the pair the chance to target the resistance level 0.9837.
But breaking the pair the resistance level 0.9754 which represents the top border and the stability below this level which gives the pair the chance to target the support level 0.9715.


Res: 0.9806 0.9847 0.9879
Pivot: 0.9774
Sup: 0.9733 0.9701 0.966
[IMG][img]http://img105.herosh.com/2011/05/26/760231741.png[/url]


[B]AUD/USD[/B]

The bearish direction is still dominating the trades of the pair for short and medium-term as it has formed a bearish wedge pattern that reflects the bearish direction and this indicates the weakness of the bearish direction so it is expected during the medium-term trades that the pair will rise but under the condition of breaking the top border of the formed pattern.
During today's intraday levels, the pair succeeded to rise testing now the important resistance level 1.0605 which is expected to hold stable next hours to push the pair declining slightly targeting to test the support level 1.05030 to gain the needed support to form a new bottom that will use it to rise again for the short-term.

Res: 1.0578 1.0629 1.0698
Pivot: 1.0509
Sup: 1.0458 1.0389 1.0338
[ATTACH]1218.vB[/ATTACH]

 

[GIGFX]

Friday 27th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The EUR/USD pair had a bullish move during the previous trades that reached the expected target for yesterday report at the resistance level 1.4265, facing a bearish trend the pair was able to form during the previous medium trades, which may cause the pair falling in order to retest the nearest support level such as 1.4198 represented by 23.6% correction level for the bearish move from 1.4939 to 1.3969, which depends on the stability of the mentioned resistances, but in case the pair was able to pass 1.4340 resistance level with a good close above the bearish trend, the pair will rise targeting the resistance level 1.4455 represented by 50% correction level.

Res: 1.4224 1.4284 1.4362
Pivot: 1.4146
Sup: 1.4086 1.4008 1.3948

[/url]


[B]GBP/ USD[/B]

As expected in the previous report that yesterday trades saw continuity on forming a bullish corrective direction for the short-term, whereas the GBP/USD pair was able to broke the resistance level 1.06320 to continue rising reaching the targeted price to get out if this bearish channel at 1.6483 which represents 61.8% Fibonacci retracement correction level for the bearish direction (from 1.6745 to 1.6058), it's expected that this bullish scenario will be continued during the next intraday trades to reach this bullish targeted price.

This scenario depends on the stability of the support level 1.6320.

Res: 1.6447 1.6493 1.6583
Pivot: 1.6357
Sup: 1.6311 1.6221 1.6175
[IMG][img]http://img101.herosh.com/2011/05/27/20429070.png[/url]



[B]USD/CHF[/B]

The pair declined yesterday and still declining till this morning and it is expected to continue declining targeting the support level 0.8452 which represents 127.0% of Fibonacci's continuous level but under the condition of holding the pair stable below the support level 0.8555 which represents the point of the last bearish close and if the pair failed to hold stable below the level 0.8555 it will target the resistance level 0.8648 which represents 76.4% of Fibonacci's correction level followed by the resistance level 0.8703 which represents 61.8% of the same Fibonacci's level.

Res: 0.8708 0.8762 0.8792
Pivot: 0.8678
Sup: 0.8624 0.8594 0.8540
[IMG][img]http://img104.herosh.com/2011/05/27/786616214.png[/url]


[B]USD/CAD[/B]

The pair is still moving inside the confined area for the short-term between the resistance level 0.9795 which represents the top border for this confined area and the support level 0.9754 which represents the lower border for this confined area, therefore it's expected that the pair will retest the resistance level 0.9795 during the intraday trades which represents the confined area top border and the stability above this level will give the pair the chance to target the resistance level 0.9837.
But breaking the pair the resistance level 0.9754 which represents the top border and the stability below this level which gives the pair the chance to target the support level 0.9715.

Yesterday analysis is still remaining

Res: 0.9807 0.984 0.9866
Pivot: 0.9781
Sup: 0.9748 0.9722 0.9689
[IMG][img]http://img105.herosh.com/2011/05/27/356033631.png[/url]



[B]AUD/USD[/B]

As it was expected through yesterday report, the pair succeeded to rise breaking the top border of the bearish wedge pattern that shifts the direction that represents the resistance level 1.0605 expecting more rising for the pair during today's dealings targeting the resistance level 1.0530 which represents the first target of breaking out this bearish wedge pattern.

The stability of these expectations requires the stability of the support level 1.0605.

Res: 1.0689 1.0736 1.0827
Pivot: 1.0598
Sup: 1.0551 1.0460 1.0413
[ATTACH]1219.vB[/ATTACH]

 

[GIGFX]

Monday 30th of May 2011 GIGFX Technical Analysis Report

EUR/USD

The EUR/USD pair had a bullish move during the previous trades that reached 1.4340 resistance coinciding with 38.2% correction level for the bearish move from 1.4939 to 1.3969, to fall from this level facing the broken bearish trend with testing 1.4265 level, if the pair was able to trade above this resistance it will rise targeting 1.4455 resistance represented by 50% correction, but if the pair fall to trade under 1.4265 level it will target the retesting of 23.6% correction around 1.4198 price.

Res: 1.4364 1.4427 1.4546
Pivot: 1.4245
Sup: 1.4182 1.4063 1.400

[/url]


[B]GBP/ USD[/B]

The trades of the last week saw more rising for the pair and as what was expected through the last report the pair reached the level 1.6483 which represents the target of breaking out of the bearish channel and also represents 61.8% of Fibonacci's correction level for the bearish move (from 1.6745 to 106058), the pair reached the highest price at 1.6508 at the end of the last week, at the beginning of this week trades, the pair declined trying to form a new bullish bottom that the pair will use it to rise again trying to break the level 1.6508 followed by the resistance level 1.6583.

The stability of these expectations requires the stability of the support level 1.6340.

Res: 1.6547 1.6592 1.6676
Pivot: 1.6463
Sup: 1.6418 1.6334 1.6289
[IMG][img]http://img105.herosh.com/2011/05/30/583684971.png[/url]


[B]USD/CHF[/B]


As it is noticed through this chart, the pair is moving inside a bearish channel for medium and long-term so it is expected to continue declining for the intraday levels targeting the support level 0.8342 which represents the bottom border of the channel but under the condition of holding steady below the resistance level 0.8555 because holding the pair above the resistance level gives the chance to the pair to re-test the resistance level 0.8832 which represents the top border of the channel.

Res: 0.8607 0.8733 0.8804
Pivot: 0.8536
Sup: 0.841 0.8339 0.8213
[IMG][img]http://img104.herosh.com/2011/05/30/64404588.png[/url]


[B]USD/CAD[/B]

The pair is still moving inside the confined area for the short-term between the resistance level 0.9795 which represents the top border for this confined area and the support level 0.9754 which represents the lower border for this confined area, therefore it's expected that the pair will retest the resistance level 0.9795 during the intraday trades which represents the confined area top border and the stability above this level will give the pair the chance to target the resistance level 0.9837.
But breaking the pair the resistance level 0.9754 which represents the top border and the stability below this level which gives the pair the chance to target the support level 0.9715.

last week analysis is still remaining

Res: 0.9794 0.9818 0.9840
Pivot: 0.9772
Sup: 0.9748 0.9726 0.9702
[IMG][img]http://img101.herosh.com/2011/05/30/282670173.png[/url]


[B]AUD/USD[/B]

It is still expected that the pair will continue rising during the near-term trades and intraday levels as the pair formed a bearish wedge pattern that shifts the bearish direction for medium-term which the pair succeeded to exit out of its area targeting the resistance level 1.0830 during today's intraday trades.

The stability of these expectations requires the stability of the support level 1.0605

Res: 1.0744 1.0784 1.0853
Pivot: 1.0675
Sup: 1.0635 1.0566 1.0526
[ATTACH]1223.vB[/ATTACH]

 

[GIGFX]

Tuesday 31st of May 2011 GIGFX Technical Analysis Report

EUR/USD

The EUR/USD pair had a bullish move during the previous trades that reached above1.4340 resistance that represents 38.2%correction level for the bearish move (from 1.4939 to 1.3969), after falling from this level facing the broken bearish trend with testing 1.4265 level, which pushed the pair to rise targeting 1.4455 resistance represented by 50% correction, but if the pair fall to trade under 1.4265 level, it will target the retesting of 23.6% correction around 1.4198 level.

Res: 1.4318 1.4356 1.4387
Pivot: 1.4287
Sup: 1.4249 1.4218 1.4180

[/url]


[B]GBP/ USD[/B]

Yesterday trades were in a narrow range and reflect a momentum that the pair will use it to continue its bullish direction for near-term through moving inside a bullish channel, during the dealings of the Asian session, the pair began to exit this narrow range trades and rose breaking the level 1.6508, for the upcoming trades it is expected that the pair will continue rising targeting the level 1.6583 which represents 76.4% of Fibonacci's correction level for the bearish move (from 1.6745 to 1.6058).

The stability of these expectations requires the stability of the support level 1.6450.

Res: 1.6503 1.6538 1.6565
Pivot: 1.6476
Sup: 1.6441 1.6414 1.6379
[IMG][img]http://img105.herosh.com/2011/05/31/787788515.png[/url]


[B]USD/CHF[/B]

As it is noticed through this chart, the pair is moving inside a bearish channel formedium and long-term so it is expected to continue declining for the intraday levels targeting the support level 0.8342 which represents the bottom border of the channel but under the condition of holding steady below the resistance level 0.8555 because holding the pair above the resistance level gives the chance to the pair to re-test the resistance level 0.8832 which represents the top border of the channel.

Yesterday analysis is still remaining

Res: 0.8540 0.8556 0.8583
Pivot: 0.8513
Sup: 0.8497 0.8470 0.8454
[IMG][img]http://img105.herosh.com/2011/05/31/160512157.png[/url]


[B]USD/CAD[/B]

Yesterday, the pair broke the bottom border of the bullish wedge pattern that shifts the direction as broke the support level 0.9765, so it is expected that the pair will continue declining during the upcoming intraday levels targeting the level 0.9671 as the first target and if it could be stable below this level, the pair will continue declining targeting the support level 0.9588.

The stability of these expectations requires the stability of the resistance level 0.9765

Res: 0.9786 0.9804 0.9823
Pivot: 0.9767
Sup: 0.9749 0.973 0.9712
[IMG][img]http://img101.herosh.com/2011/05/31/267405756.png[/url]


[B]AUD/USD[/B]

It is still expected that the pair will continue rising during the near-term trades and intraday levels as the pair formed a bearish wedge pattern that shall shift the bearish direction for the medium-term, the pair succeeded to exit out of its area targeting the resistance level 1.0830 during today's intraday trades.

The stability of these expectations requires the stability of the support level 1.0605.

Yesterday analysis is still remaining


Res: 1.0713 1.0743 1.0763
Pivot: 1.0693
Sup: 1.0663 1.0643 1.0613
[ATTACH]1224.vB[/ATTACH]