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GIGFX Technical Analysis Report (updated daily)

Discussion in 'Major Currency Pairs' started by GIGFX, Feb 11, 2011.

  1. GIGFX

    GIGFX New Member

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    EURUSD

    The bullish move of the European currency against the American dollar did not remain any more whereas, yesterday traded session saw a new bearish position for the pair that pushed it down breaking the support level 1.3680 which was represents the neck line of the head and shoulders pattern that its benefit to continue the bullish move is ended, while the pair was pushing down it was able to break the bullish trend line for the near-term. All these signals confirms the tendency of the pair to continue forming the bearish direction that started at the top that was formed at the level 1.3861, so it is expected that, the pair will continue declining targeting to reach the level 1.3508 which wit its breaking the pair will decline again till reach the support level 1.3445.
    The stability of these expectations requires the stability of the resistance level 1.3645.


    Res. 1.3699 1.3796 1.3858
    Pivot 1.3635
    Sup. 1.3540 1.3478 1.3381
    11 e.jpg


    GBPUSD

    The bullish direction is still dominating the trades of the pair for medium and long periods whereas the pair declined at the beginning of this week trades in order to re-test the support level 1.6055 which declared its stability, once the pair hit that level it reflected up again with expectations of more rising in the light of a harmonic pattern (butterfly) which is still in the forming stage and now it is forming the last wave (CD) after breaking the level 1.6055, its re-testing and stability against the pair till now.
    So that it is expected to continue rising during trading the pair above the level 1.6055 targeting the level 1.6260 as the first target of the intraday levels, if the pair succeeded to break this level up it means that the pair tends to continue rising in order to achieve the target of the pattern that is formed on the medium-term, this target is to reach the resistance area between the levels 1.6460 and 1.6545.
    The stability of these expectations requires the stability of the support level 1.6055.
    Yesterday analysis is still remaining till now​


    Res. 1.6150 1.6204 1.6273
    Pivot 1.6081
    Sup. 1.6027 1.5958 1.5904
    11g.jpg

    USDCHF

    The bullish direction is still dominating the price action for the intraday levels and for the near-term, the pair rose yesterday as it was expected to target the resistance level 0.9685 that the price is moving around, testing it forming a harmonic pattern AB=CD that targeted this level to complete the formation stage of the pattern, a corrective reflection is expected for the price targeting the support level 0.9645 during today's intraday trades before continue rising again targeting the resistance level 0.9725.
    The stability of these expectations requires the stability of the support level 0.9645.



    RES. 0.9736 0.9782 0.9864
    Pivot 0.9654
    Sup. 0.9608 0.9526 0.9480
    11 chf.jpg


    USDCAD

    The pair is still moving inside a bullish channel that was started at the level 0.9830 so it is expected that the pair will continue rising under the condition of breaking the resistance level 0.9968 which represents 61.8% Fibonacci correction level for the last bearish wave with stability above, this will lead the pair to target the level 1.0001 which represents 76.4% Fibonacci correction level.
    But if the pair was unable to break the resistance level 0.9968, it will target the support level 0.9952 which represents the bottom line of the channel, and breaking the pair to this level with stability below will lead the pair to target the level 0. 9916 which represents 38.2% of the same Fibonacci levels, but in order to reach this level it must break the level 0.9942 which represents 50% Fibonacci correction level that was noticed previously.


    Res. 0.9981 1.0011 1.0037
    Pivot 0.9955
    Sup. 0.9925 0.9899 0.9869
    11 cad.jpg


    AUDUSD

    As it was expected through yesterday report, the pair achieved the target of the double tops pattern by reaching the level 1.0000 which represents 50% Fibonacci correction level for the bullish direction (from 0.9803 to 1.0198), during the last intraday trades the pair was able to break this level down, this means more expected declining towards the support level 0.9954 which represents 61.8% Fibonacci correction level for the same bearish direction, if this level has been broken down this means targeting the pair to the next support level 0.9896.
    The stability of these expectations requires the stability of the resistance level 1.0047.


    Res. 1.0116 1.0190 1.0246
    Pivot 1.0061
    Sup. 0.9987 0.9932 0.9858
    11 aud.jpg

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  2. GIGFX

    GIGFX New Member

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    Monday 14-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    As expected, the European currency is still declining against the American dollar targeting the support level 1.3508 and this is what was achieved already and with the beginning of this week trades, the pair is using the formed bottom at 1.3508 to rise in order to re-test the nearest resistance levels to form a bearish top that will force the pair to decline and form a medium and near-term bearish direction, it is expected for this bearish top to be around the resistance level 1.3598 at which the price is expected to coincide with the top pitchfork line that was drawn for the bullish wave (from 1.3508 to 1.3743), then it will decline to re-test the support level 1.3508 which with its breaking down, the pair will target the next support level 1.3445.

    The stability of these expectations requires the stability of the resistance level 1.3625.

    Res: 1.3611 1.3677 1.3734
    Pivot: 1.3554
    Sup: 1.3488 1.3431 1.3365
    EUR.jpg

    GBP/ USD

    The pair traded high at the beginning of this week after a near-term declining remained during the trades of the last week till reached the support level 1.5980 to test it and reflected up forming a reversal pattern for the near-term bearish direction (bearish wedge pattern), so it is expected that more rising is possible during today's intraday trades but under the condition of breaking the top boarder of this pattern in order to target the resistance level 1.6170 to test it then, test the resistance level 1.6275.

    The stability of these expectations requires the stability of the support level 1.5980.

    Res: 1.6090 1.6177 1.6241
    Pivot: 1.6026
    Sup: 1.5939 1.5875 1.5788
    GBP.jpg

    USD/CHF

    The bullish direction is still dominating the move of the pair for the near-term and intraday levels whereas, it is noticed that the pair is moving inside a bullish channel with a relatively high decline degree, this confirms the strength of the bullish momentum till reached at the end of the last week trades to test the resistance level 0.9775 from which the pair reflected forming a medium-term top which coincides with 61.8% Fibonacci correction level for the last bearish wave for the long-term so, it is a strong resistance level and it is hard to be broken with the first testing process.
    So it is expected during today's intraday trades that the pair will reflect down correctly in order to form a new bottom that the pair will use it to continue rising and the first support level that will face the pair down reflection is the support level 0.9685 which represents 50% of the same mentioned correction level.

    The stability of these expectations requires the stability of the resistance level0.9755.

    Res: 0.9774 0.9817 0.9861
    Pivot: 0.9730
    Sup: 0.9687 0.9643 0.9600
    CHF.jpg

    USD/CAD

    The bearish direction is still dominating the pair’s direction for the medium and the short-terms so it is expected through the intraday levels that the pair will continue this bearish direction because the pair now is not still forming the harmonic pattern; whereas the price is moving now at the last wave for the pattern CD which is expected for it to target the support level 0.9784 but confirming this, the pair must break the support level 0.9840 which represents the B point which is ready to break it now.

    This scenario depends on the stability after breaking the support level 0.9826 which represents the B point.

    But if the pair was not able to break the support level 0.9826 which represents the B point and hold above it, the pair will target the support level 0.9981 which represents the C point.

    Res: 0.9955 1.0031 1.0078
    Pivot: 0.9908
    Sup: 0.9832 0.9785 0.9709
    CAD.jpg

    AUD/USD

    The pair has formed a bottom around the support level 0.9954 which represents 61.8% Fibonacci retracement correction level for the bullish direction ( from 0.9803 to 1.0198 ) in which the pair used it to retest the nearest resistance levels, this movement between rising and falling; expecting that the pair will embody a bearish channel whereas the pair is trading now at the resistance level 1.0075 which is expected to be one of the resistance levels for the upper border for the waiting channel, therefore it's expected to form a bearish top for the short-term the pair will use to fall again to retest the nearest resistance levels one of which is the 0.9954 level.

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

    Res: 1.0061 1.0097 1.0148
    Pivot: 1.0010
    Sup: 0.9974 0.9923 0.9887
    AUD.jpg

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  3. GIGFX

    GIGFX New Member

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    Tuesday 15-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    As remaining to the expected bearish scenario for the European currency against the American dollar, the pair is still forming the bearish rib CD for the harmonic pattern AB=CD that is expected to be completed at the area of the point D between the level 1.3390 and the level 1.3363 which represents 161.8% Fibonacci continuous level for the rib BC. During the last trades, the pair re-tested the resistance level 1.3508 which represents the point B forming a bearish top that the pair will use it to decline, trying to break the support level 1.3445 which with its breaking down the pair will continue declining till reaching the area of the point D that completes the harmonic pattern. It is expected that the price will coincide in the target area with the pitchfork medium line that is drawn on the rib BC.

    The stability of these expectations requires the stability of the resistance level 1.3530.

    Res: 1.3554 1.3621 1.3684
    Pivot: 1.3491
    Sup: 1.3424 1.3361 1.3294
    Eur.jpg

    GBP/ USD

    The pair traded high at the beginning of this week after a near-term declining remained during the trades of the last week till reached the support level 1.5980 to test it and reflected up forming a reversal pattern for the near-term bearish direction (bearish wedge pattern), so it is expected that more rising is possible during today's intraday trades but under the condition of breaking the top boarder of this pattern in order to target the resistance level 1.6170 to test it then, test the resistance level 1.6275.

    The stability of these expectations requires the stability of the support level 1.5980.

    The previous analyze remains

    Res: 1.6085 1.6132 1.6188
    Pivot: 1.6029
    Sup: 1.5982 1.5926 1.5879
    GBP.jpg

    USD/CHF

    As it was expected through yesterday report, indeed the pair reflected correcting this sharp near-term bullish direction till reached the support level 0.9685 that was mentioned before to test it. If this level remained steady against the pair testing, the pair will rise but breaking the resistance level 0.9735 confirms the tendency of the pair to continue achieving gains for the near-term and the intraday levels.
    But if the support level 0.9685 that the trades are around for today's intraday trades could not be stable, the pair might decline correctly, targeting the support level 0.9640 as the first target for this declining for today's intraday levels.

    Res: 0.9731 0.9765 0.9785
    Pivot: 0.9711
    Sup: 0.9677 0.9657 0.9623
    Chf.jpg

    USD/CAD

    The bearish direction is still dominating the pair’s direction for the medium and the short-terms, so it is expected through the intraday levels that the pair will continue this bearish direction because the pair now is not still forming the harmonic pattern; whereas the price is moving now at the last wave for the pattern CD which is expected for it to target the support level 0.9784 but confirming this, the pair must break the support level 0.9840 which represents the B point which is ready to break it now.
    This scenario depends on the stability after breaking the support level 0.9826 which represents the B point.
    But if the pair was not able to break the support level 0.9826 which represents the B point and hold above it, the pair will target the support level 0.9981 which represents the C point.

    The previous analysis is still remaining till now

    Res: 0.9911 0.9932 0.9965
    Pivot: 0.9878
    Sup: 0.9857 0.9824 0.9803
    CAD.jpg

    AUD/USD

    As expected in yesterday report, the pair has formed a bearish top for the medium-term at the resistance level 1.0075 which coincides with the lower border for the bearish channel, so it is expected that the pair will continue moving inside the channel for the medium and the short-terms and it's expected during the next trades a further drop by the direction of the support level 0.9954 which with breaking it down the pair will continue declining to retest the bullish trend line for the long-term.

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

    Res: 1.0073 1.0119 1.0166
    Pivot: 1.0026
    Sup: 0.9980 0.9933 0.9887
    AUD.jpg

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    #3 GIGFX, Feb 15, 2011
    Last edited: Feb 15, 2011
  4. GIGFX

    GIGFX New Member

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    Wednesday 16-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    The pair’s move yesterday reflects positive signals for a beginning of an upcoming rise for the Euro against the American dollar, these signals ended completing the bearish rib CD of the positive harmonic pattern AB=CD by reaching the level 1.3428 at the support area 127% Fibonacci continuous level for the rib BC at which the price coincides with the medium pitchfork line that is drawn for the same rib BC and this is a second signal, the next signal was forming a head and shoulders pattern that shifts the bearish direction whereas, the head represents the level 1.3428 that completes the harmonic pattern, the pair continued forming the right shoulder then it is pronounced through the current trades that the pair is trying to break the neck line which with its breaking the pair will continue rising targeting to reach the level 1.3669 which represents the target of the head and shoulders pattern and at the same time represents 76.4% Fibonacci correction level for the bearish rib CD.

    The stability of these expectations requires the stability of the support level 1.3475.

    Res: 1.3535 1.3587 1.3624
    Pivot: 1.3498
    Sup: 1.3446 1.3409 1.3357
    EUR.jpg

    GBP/ USD

    The pair traded high at the beginning of this week after a near-term declining remained during the trades of the last week till reached the support level 1.5980 to test it and reflected up forming a reversal pattern for the near-term bearish direction (bearish wedge pattern), so it is expected that more rising is possible during today's intraday trades but under the condition of breaking the top boarder of this pattern in order to target the resistance level 1.6170 to test it then, test the resistance level 1.6275.

    The stability of these expectations requires the stability of the support level 1.5980.

    The previous analyze remains

    Res: 1.6193 1.6261 1.6355
    Pivot: 1.6099
    Sup: 1.6031 1.5937 1.5869
    GBP.jpg

    USD/CHF

    The support level 0.9685 failed to hold steady against the price testing after the pair tried to rise testing the resistance level 0.9735 and took it as a support to break the support level 0.9685 continuing its corrective declining during yesterday trades with expectations of more declining during today's intraday trades targeting the support level 0.9595 which represents 38.2% Fibonacci correction level for the last long-term bearish wave.

    The stability of these expectations requires the stability of the resistance level 0.9685.

    Res: 0.9715 0.9761 0.9793
    Pivot: 0.9683
    Sup: 0.9637 0.9605 0.9559
    CHF.jpg

    USD/CAD

    Since the end of the last week trades till now, the pair is moving inside the sideways channel between the support level 0.9840 which represents the lower border for the channel and the B point for the harmonic pattern which will be mentioned and the resistance level which represents the top border for the channel 0.9900 but the bearish direction is still dominating the pair’s direction for the medium and the short-terms, so it is expected through the intraday levels that the pair will continue this bearish direction because the pair now is still forming the harmonic pattern; whereas it is moving now at the last wave for the pattern CD which is expected for it to target the support level 0.9784 but confirming this, the pair must break the support level 0.9840 which represents the B point which is ready to break it now.

    This scenario depends on the stability after breaking the support level 0.9826 which represents the B point.

    But if the pair was not able to break the support level 0.9826 which represents the B point and hold above it, the pair will target the support level 0.9981 which represents the C point.

    Res: 0.9915 0.9934 0.9968
    Pivot: 0.9881
    Sup: 0.9862 0.9828 0.9809
    CAD.jpg

    AUD/USD

    As expected in yesterday report, the pair continued declining inside the bearish channel till it reached the level 0.9954 which represents 61.8% Fibonacci retracement correction level for the bullish direction ( from 0.9803 to 1.0198 ), a bottom was formed at this level which pushed the pair up from it to retest the nearest resistance levels one of which is the level 1.0000 which coincides at it the price with the lower border for the bearish channel, the pair is trying to form a new bearish top at this level and the pair will use it to continue falling trying to break the level 0.9954 which with breaking it down the pair will continue falling till the confined area which is between the bullish trend line for the short-term and the level 0.9896 which represents 76.4% Fibonacci retracement correction level for the same mentioned bullish direction.

    This expectation depends on the stability of the resistance level 1.0000.

    Res: 1.0030 1.0099 1.0143
    Pivot: 0.9986
    Sup: 0.9917 0.9873 0.9804
    AUD.jpg

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  5. GIGFX

    GIGFX New Member

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    Thursday 17-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    During yesterday trades; after breaking the neck line for the head and shoulders pattern, the pair reflected again below the neck line, but this declining did not remain for a long time because of the appearance of an engulfing candlestick returned the price action again above the neckline of the harmonic pattern achieving the highest price at the level 1.3588, So it is expected for the pair during the upcoming trades that the pair will rise targeting the level 1.3669 which represents the target of the head and shoulders harmonic pattern and at the same time represents 76.4% Fibonacci correction level for the harmonic pattern AB=CD.

    The stability of these expectations requires the stability of the support level 1.3520.

    Res: 1.3616 1.3665 1.3742
    Pivot: 1.3539
    Sup: 1.3490 1.3413 1.3364
    EUR.jpg

    GBP/ USD

    The bullish direction is still dominating the trades of the pair for the medium-term, and by determining Fibonacci's correction levels for the last bullish wave it will be noticed that, the pair declined yesterday testing the support level 1.6010 which represents 50% Fibonacci correction level to reflect up again confirming the tendency of the pair to continue rising up with expectations of more rising during today's intraday trades but under the condition of breaking the resistance level 1.6150 then, the pair will push to target the resistance level 1.6230, and what confirms this bullish scenario is trading the pair above the simple moving average 100.
    So that, it is not recommended to have any bullish positions on the pair until breaking the resistance level 1.6150 that was mentioned before.

    The stability of these expectations requires the stability of the support level 1.6010.

    Res: 1.6189 1.6285 1.6386
    Pivot: 1.6088
    Sup: 1.5992 1.5891 1.5795
    GBP.jpg

    USD/CHF

    After the pair broke the bullish channel that was started at the level 0.9320 then achieved the target of breaking out this channel by reaching the support level 0.9547 which represents 50% Fibonacci correction level for the last bullish wave.
    So it is expected that the pair will continue the corrective direction during today's intraday trades and will take the bearish direction till reaching the support level 0.9493 which represents61.8% Fibonacci correction level but under the condition of breaking the support level 0.9547 which represents 50% Fibonacci correction level with stability below.
    But if the pair was unable to break this level, the pair will reach the resistance level 0.9601 which represents 38.2% Fibonacci correction level.

    Res: 0.9703 0.9813 0.9888
    Pivot: 0.9628
    Sup: 0.9518 0.9443 0.9333
    CHF.jpg

    USD/CAD

    During the Asian trading period, the pair broke the support level 0.9840 which coincides with the lower boarder for the sideways channel which the pair is moving inside it for the near-term and also it coincides with the B point for the harmonic pattern which will be mentioned, the stability of the pair under this level will make the bearish direction dominate the pair’s direction for the medium and the short-terms, so it is expected through the intraday levels that the pair will continue this bearish direction because the pair now is still forming the harmonic pattern; whereas it is moving now at the last wave for the pattern CD which is expected for it to target the support level 0.9784 but confirming this, the pair must break the support level 0.9840 which represents the B point.

    This scenario depends on the stability after breaking the support level 0.9826 which represents the B point.

    But if the pair was not able to be stabled under the support level 0.9826 which represents the B point and hold above it, the pair will target the support level 0.9981 which represents the C point.

    Res: 0.9885 0.9922 0.9943
    Pivot: 0.9864
    Sup: 0.9827 0.9806 0.9769
    CAD.jpg

    AUD/USD

    The pair formed a new bottom at the support level 0.9960 which is the second consecutive bottom at the same level, this is one of the conditions on remaining a bearish reflective pattern which is the double consecutive bottoms, breaking the top border for the bearish channel where the pair was moving inside for the short-term is what confirms on remaining this reflective pattern, with breaking the top of the reflective pattern at the resistance level 1.0071 which represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0198 to 0.9943 ), the pair will continue rising till reaching the level 1.0180 which represents the targeted price for the pattern, from the expected to coincide the price at this targeted price with the bearish trend line for the long-term.

    This expectation depends on the stability of the support level 0.9960.

    Res: 1.0070 1.0111 1.0167
    Pivot: 1.0014
    Sup: 0.9973 0.9917 0.9876
    AUD.jpg

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  6. GIGFX

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    Friday 18-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    As it was expected through yesterday report, the European currency continued rising against the American dollar whereas; the pair reached the coinciding area of the level 1.3623 with the bearish trend line. The level 1.3623 represents 61.8% Fibonacci correction level for the Rib CD of the harmonic pattern AB=CD and the bearish trend line matches the point A with C, the pair is lifted to target the harmonic pattern (head and shoulders) and it is by reaching the level 1.3669 which represents 76.4% Fibonacci correction level for the same mentioned rib, in order to reach this level the pair should break the bearish trend line and the resistance level 1.3623. It is expected also that the pair will continue rising in the case of breaking the level 1.3669 up then the pair will target the resistance level 1.3743.

    The stability of these expectations requires the stability of the support level 1.3520.

    Res: 1.3640 1.3671 1.3724
    Pivot: 1.3587
    Sup: 1.3556 1.3503 1.3472
    EUR.jpg

    GBP/ USD

    As it was expected through yesterday report, indeed the pair succeeded to rise in order to target the resistance level 1.6150 at the end of yesterday trades, also succeeded to break it at today's trades with stability above, this supports the expectations of remaining the bullish direction for the pair during today's intraday trades targeting the resistance level 1.6275.

    The stability of this scenario is still remaining by holding the support level 1.6075 steady.

    Res: 1.6213 1.6255 1.6325
    Pivot: 1.6143
    Sup: 1.6101 1.6031 1.5989
    GBP.jpg

    USD/CHF

    After the pair achieved the target that was expected yesterday by reaching the support level 0.9493 which represents 61.8% Fibonacci correction level for the last bullish wave but it was unable to be steady below this level.
    So it is expected that the pair will continue the corrective direction during today's intraday trades and will take the bearish direction till reaching the support level 0.9428 which represents 76.4% Fibonacci correction level but under the condition of breaking the support level 0.9493 which represents 61.8% % Fibonacci correction level with stability below.
    But if the pair was unable to break this level, it will target to reach the resistance level 0.9549 which represents 50% Fibonacci correction level.

    Res: 0.9573 0.9650 0.9698
    Pivot: 0.9525
    Sup: 0.9448 0.9400 0.9323
    CHF.jpg

    USD/CAD

    The pair broke the support level 0.9840 which coincides with the lower boarder for the sideways channel which the pair is moving inside it for the near-term and also it coincides with the B point for the harmonic pattern which will be mentioned, the stability of the pair under this level will make the bearish direction dominate the pair’s direction for the medium and the short-terms, so it is expected through the intraday levels that the pair will continue this bearish direction because the pair now is still forming the harmonic pattern; whereas it is moving now at the last wave for the pattern CD which is expected for it to target the support level 0.9784 but confirming this, the pair must break the support level 0.9840 which represents the B point.

    This scenario depends on the stability after breaking the support level 0.9826 which represents the B point.

    But if the pair was not able to be stabled under the support level 0.9826 which represents the B point and hold above it, the pair will target the support level 0.9981 which represents the C point.

    The previous analysis is still remaining till now

    Res: 0.9862 0.9882 0.9907
    Pivot: 0.9837
    Sup: 0.9817 0.9792 0.9772
    CAD.jpg

    AUD/USD

    Yesterday trades achieved the second condition of remaining the ( double consecutive bottoms ) as a reflective bearish direction pattern and the condition was breaking the resistance level 1.0071 which represents the top for the pattern and also represents 50% Fibonacci retracement correction level for the bearish direction ( from 1.0198 to 0.9943 ), therefore the pair has pushed up during the last intraday trades expecting for the pair to continue rising till it reaches the level 1.0180 which represents the targeted price for the pattern, it's expected that the price will coincide at this targeted area with the bearish trend line for the long-term.

    This expectation depends on the stability of the support level 1.0071.

    Res: 1.0158 1.0199 1.0270
    Pivot: 1.0087
    Sup: 1.0046 0.9975 0.9934
    AUD.jpg

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  7. GIGFX

    GIGFX New Member

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    Monday 21-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    The European currency continued rising against the American dollar whereas, the pair reached the level 1.3669 which represents the target of the head and shoulders pattern and also represents 76.4% Fibonacci correction level for the rib CD of the harmonic pattern AB=CD. The pair ended the last week trading session achieving the highest price at 1.3715 at which the pair formed a top and was pushed from it declining in order to re-test the nearest support levels, one of them is the level 1.3669 at which the pair is forming a short-term bullish bottom during the last intraday trades.
    It is expected that the pair will use the formed bullish bottom in order to continue forming the bullish directions whereas it is expected with breaking the level 1.3715 that the pair will target to reach the resistance level 1.3743 then the resistance level 1.3828 which represents127% Fibonacci continuous level for the rib CD.

    The stability of these expectations requires the stability of the support level 1.3623.

    Res: 1.3561 1.3423 1.3431
    Pivot: 1.3431
    Sup: 1.3691 1.3683 1.3821
    EUR.jpg

    GBP/ USD

    As it was expected at the end of the last week trades, indeed the pair succeeded to rise testing the resistance level 1.6275 that the pair is still trading around till now, expecting a reflective down correction during today's intraday trades targeting to re-test the support level 1.6150 in order to collect the needed momentum to continue rising and to break the resistance level 1.6275.
    But if the pair succeeded to break the resistance level 1.6275 during today's intraday trades, it will target immediately the resistance level 1.6350 in order to test it.

    The stability of these expectations requires the stability of the support level 1.6150.

    Res: 1.6288 1.6331 1.6400
    Pivot: 1.6219
    Sup: 1.6176 1.6107 1.6064
    GBP.jpg

    USD/CHF

    After the pair achieved the mentioned target at the end of the last week which is testing the support level 0.9428 which represents 76.4% Fibonacci correction level for the last bullish wave but wasn’t able to be stability below, so it is expected for the pair to continue the corrective direction during today's intraday trades and will take the bearish side till reaching the support level 0.9320 which represents the beginning of the bullish channel in which the pair is continuing its direction through Fibonacci's mentioned levels but it should break the support level 0.9428 with stability below, this level represents 76.4% Fibonacci mentioned level.
    But if the pair was unable to break this level, this will give the pair the chance to reach the resistance level 0. 9494which represents 61.8% Fibonacci level, then the resistance level 0. 9549 which represents 50% Fibonacci level for the mentioned levels.

    Res: 0.9516 0.9578 0.9618
    Pivot: 0.9476
    Sup: 0.9414 0.9374 0.9312
    CHF.jpg

    USD/CAD

    During last week trades the pair has formed a double consecutive pattern which was formed at the level 0.981, the pair broke the neckline at the level 0.9858 and it is trying to reach the targeted resistance level 0.9900 but this depends on the stability of the support level 0.9858.
    But if the pair is unable to be stable above the support level, so the pair will be able to form a new pattern which is the consecutive bottoms and forming a third bottom at the support level 0.9813.

    Res: 0.9885 0.9907 0.9941
    Pivot: 0.9851
    Sup: 0.9829 0.9795 0.9773
    CAD.jpg

    AUD/USD

    During the end of last week trades the pair achieved the highest price at the level 1.0155, this level expresses the continuing of the pair on forming the bullish directions for the short-term reaching the level 1.0180 which represents the targeted price for the pattern ( double consecutive bottoms ), therefore it is expected that the pair will continue rising during the next trades reaching this level which will be achieved after breaking the level 1.0155.

    This expectation depends on the stability of the support level 1.0071.

    Res: 1.0170 1.0196 1.0238
    Pivot: 1.0128
    Sup: 1.0102 1.0060 1.0034
    AUD.jpg

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  8. GIGFX

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    Tuesday 22-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    Yesterday and during the beginning of this week's trades, the pair did not achieve a price higher than 1.3716 $ whereas this price was the highest achieved price during the trades of the last week, and that’s why yesterday trades were narrow which reflects the collecting of the needed momentum that will indicate the next direction of the upcoming trades. It is noticed through the Asian period trades a strong declining which pushed the pair to break the bottom boarder of the bullish channel in which the pair was moving between its boarders for the near-term, whereas the pair now is testing the key support 1.3572 which represents 50% Fibonacci's correction level for the uptrend (from 1.3528 to 1.3716) and which coincides with the broken bearish trend line for the medium-term. If the pair succeeded to break this area this means that, the pair is tending to continue this bearish move targeting the level 1.3465 which represents the target of getting out of the range of this bullish channel.

    Res: 1.3561 1.3423 1.3431
    Pivot: 1.3553
    Sup: 1.3691 1.3683 1.3821
    EUR.jpg

    GBP/ USD

    Yesterday, the pair failed to break the mentioned key resistance 1.6275, the pair reflected down breaking the key support 1.6150 which represents 23.6% Fibonacci's correction level for the last medium-term bullish wave with expectations of more declining during today's intraday trades targeting the key support 1.6075 which represents 38.2% Fibonacci's correction level but under the condition of holding the pair steady below the level 1.6150.

    The stability of these expectations requires the stability of the key resistance 1.6275.

    Res: 1.6288 1.6331 1.6400
    Pivot: 1.6219
    Sup: 1.6176 1.6107 1.6064
    GBP.jpg

    USD/CHF

    During the trades of the last days, the pair formed the inverted flag pattern, so the expected direction is the bearish one but under the condition of breaking the bottom boarder of this inverted flag pattern and then the pair will target and break the key support 0.9424 with stability below, this will push the pair down to reach the key support 0.9371.

    The stability of these expectations requires the stability of the key resistance 0.9508.

    Res: 0.9516 0.9578 0.9618
    Pivot: 0.9476
    Sup: 0.9414 0.9374 0.9312
    CHF.jpg

    USD/CAD

    The pair is taking a sideway direction inside this sideways channel which is between the resistance level 0.9868 and the support level 0.9820 but it's clear that the pair will target the bullish direction and this is because of forming the pair the double consecutive bottoms pattern at the support level 0.9820 but the neckline for the pattern must be broken which also coincides with the upper line for the sideways channel at the resistance level 0.9868.

    This expectation depends on the stability of the support level 0.9820.

    Res: 0.9885 0.9907 0.9941
    Pivot: 0.9851
    Sup: 0.9829 0.9795 0.9773
    CAD.jpg

    AUD/USD

    The pair hasn't recorded a price above the level 1.0155 during yesterday trades ending with this the probability of reaching the level 1.0180 which represents the targeted price for the double consecutive pattern, whereas the pair has pushed down breaking the support level 1.0071 which represents the top of the pattern to confirm by this on returning the pair again to form a new bearish direction for the short-term whereas it's expected that the bearish move will be continued during the next trades towards the confined support area which is between the level 0.9960 and the level 0.9943 which is expected to coincide at it the price with the bullish trend line for the long-term.

    This expectation depends on the stability of the resistance level 1.0085.

    Res: 1.0170 1.0196 1.0238
    Pivot: 1.0128
    Sup: 1.0102 1.0060 1.0034
    AUD.jpg

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  9. GIGFX

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    Wednesday 23-2-2011GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    Yesterday trades saw a remaining decline for the pair till reached the area of re-testing the medium-term bearish trendline that has been broken up whereas, reflective candles has been formed for this decline coincides with the trendline, the pair formed a bottom that is expected to be a bullish one for the medium-term. during the last intraday trades, the pair used this bottom to rise again in order to test the key resistance 1.3716 which with its breaking up, the pair will continue rising targeting the level 1.3767 which represents 127% Fibonacci's continuous level for the bearish wave (1.3716 to 1.3526) then to the next level at 1.3833 which represents 161.8% Fibonacci's continuous level for the same mentioned bearish wave.

    The stability of these expectations requires the stability of the key support 1.3643.

    Res: 1.3726 1.3803 1.3903
    Pivot: 1.3626
    Sup: 1.3549 1.3449 1.3372
    EUR.jpg

    GBP/ USD

    The key resistance 1.6260 is still holding steady against the confirmation of rising the pair for the medium and long-term whereas, the pair reflected down after testing this level reaching the lowest price during yesterday trades at 1.6100, this indicates a corrective approaching bearish direction for the intraday levels, now the pair seems looking for a top that supports this corrective direction during today's intraday trades and it is supposed to be around the key resistance 1.6195, and it is not recommended to have any bearish positions only if the pair broke the key support 1.6155 in order to confirm the tendency of the pair to continue declining during today's intraday trades targeting the key support 1.5990.

    The stability of these expectations requires the stability of the key resistance 1.6260.

    Res: 1.6254 1.6283 1.6309
    Pivot: 1.6228
    Sup: 1.6199 1.6173 1.6144
    GBP.jpg

    USD/CHF

    The bearish direction is still dominating the pair's move for the near and medium-term, this direction has been formed through the move between the boarders of a bearish channel. during the upcoming trades, the pair is in its way to test the important key support 0.9325 then, if the pair succeeded to break this level with a good close below, the pair will continue forming the bearish direction targeting to reach the level 0.9204 which represents 127% Fibonacci's continuous level for the bullish move (from 0.9325 to 0.9774). But if the pair succeeded to form a bottom above this important support level, the pair will try to rise again to test the key resistance 0.9431.

    Res: 0.9472 0.9558 0.9611
    Pivot: 0.9419
    Sup: 0.9333 0.9280 0.9194
    CHF.jpg

    USD/CAD

    It's noticed that the pair is moving towards a bearish direction below the bearish trend line which was started at the level 1.0045, therefore from the expected that during the intraday trades the pair will decline and it seems that the pair is ready to test the support level 0.9868 which represents 23.6 Fibonacci retracement correction level for the last bearish wave for the medium-term, breaking this level and the stability of it will give the opportunity for the pair in order to complete the bearish direction till it reaches the support level 0.9813 at which a bottom was formed at it before.

    This expectation depends on the stability below the bearish direction line at the resistance level 0.9909.

    Res: 0.9941 0.9977 1.0037
    Pivot: 0.9881
    Sup: 0.9845 0.9785 0.9749
    CAD.jpg

    AUD/USD

    The pair continued declining as was mentioned in yesterday report till it reached the support area between the level 0.9960 and the level 0.9943, the pair has formed a new bottom on the limits of this area which will use it the pair to rise during the last intraday trades to retest the nearest resistance levels, whereas the pair is now trying to retest the resistance level 1.0071 which with breaking it up; it means a further rise till the next resistance level at 1.0101.

    This expectation depends on the stability of the support level 0.9960.

    Res: 1.0065 1.0144 1.0194
    Pivot: 1.0015
    Sup: 0.9936 0.9886 0.9807
    AUD.jpg

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  10. GIGFX

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    Thursday 24-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    As it was expected in yesterday’s report, the pair succeeded to break the key resistance 1.3716 to continue rising till reached the key resistance 1.3767, through forming the last near-term uptrend it was noticed that the pair is in the forming stage of the harmonic pattern AB=CD 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. The key resistance 1.3716 represents the point B and its breaking up with a good close above means that the pair will remain forming the bullish rib CD which is expected to be completed at the point D which represents the area between the level 1.3810 and 1.3833 which represents 161.8% fibonacci's continuous level for the rib BC, reaching this area needs a confirmation of breaking the key resistance 1.3767 during the upcoming trades.

    The stability of these expectations requires the stability of the key support 1.3671.

    Res: 1.3809 1.3866 1.3947
    Pivot: 1.3728
    Sup: 1.3671 1.3590 1.3533
    EUR.jpg

    GBP/ USD

    The pair is still trading below the key resistance 1.6260 which makes it hard for the pair to continue rising for the near-term and intraday trades, the pair now is trading inside a near-term bullish channel, forming a harmonic pattern AB=CD but the condition of completing forming this harmonic pattern is breaking the mentioned level 1.6260 which if the pair succeeded to break this level during today's intraday levels, the pair will target immediately the key resistance 1.6370 which completes this harmonic pattern.

    The stability of these expectations requires the stability of the key support 1.6130.

    Res: 1.6279 1.6346 1.6419
    Pivot: 1.6206
    Sup: 1.6139 1.6066 1.5999
    GBP.jpg

    USD/CHF

    The bearish direction is still dominating the pair's move for the near and medium-term; this move has been formed through the pair's move inside a bearish channel. during yesterday trades, the pair succeeded to break down the important key support 0.9325 indicating the tendency of the pair to continue declining targeting the key support 0.9204 which represents 127% Fibonacci’s continuous level for the bullish move (from 0.9325 to 0.9774) at which the price is expected to coincide with the bottom boarder of the bearish channel.

    The stability of these expectations requires the stability of the key resistance 0.9325.

    Res: 0.9378 0.9426 0.9462
    Pivot: 0.9378
    Sup: 0.9294 0.9258 0.9210
    CHF.jpg

    USD/CAD

    The pair wasn't able yesterday to break the support level 0.9868 which represents 23.6% Fibonacci retracement correction level for the last bearish wave, if the pair is able to break this level during the intraday trades, the pair will target the support level 0.9813 which is the bottom point during the previous days.
    But if the pair breaks the resistance level 0.9901 which represents 38.2% Fibonacci retracement correction level and the stability above this level, the pair will target the resistance level 0.9929 which represents 50.0% from the previous Fibonacci retracement correction levels then to the resistance level 0.9957 which represents 61.8% from the same previous Fibonacci retracement correction levels.

    Res: 0.9941 0.9977 1.0037
    Pivot: 0.9881
    Sup: 0.9845 0.9785 0.9749
    CAD.jpg

    AUD/USD

    As what was expected yesterday, the pair used the formed bottom at the support level 0.9960 in rising to retest the nearest resistance levels, whereas during the last intraday trades; forming a top at the level 1.0082 which represents 61.8% Fibonacci retracement correction level for the bearish direction ( from 1.0155 to 0.9965 ) this top came to push the pair down to retest the nearest support levels from it the support level 1.0010, if the pair formed a bottom at this level, the pair will rise again trying to break the level 1.0082 which with breaking it up means a further rise till the level 1.0155, but if the pair was able to break the support level 1.0010 down that means a further drop till the level 0.9960.

    Res: 1.0057 1.0095 1.0134
    Pivot: 1.0018
    Sup: 0.9980 0.9941 0.9903
    AUD.jpg

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  11. GIGFX

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    Friday 25-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    The European currency continued rising against its counterpart, this uptrend reflects the formation of a CD bullish rib for the negative harmonic pattern AB=CD, this rib has been completed by reaching the D point which is located in the area between the level 1.3810 and the level 1.3833 which represents 161.8% Fibonacci's continuous level for the BC rib. But during the last intraday trades, reflective candles appeared, and with holding the key resistance 1.3833 steady, the next direction will respond to these reflective candles and will drop to re-test the support level 1.3716. but if the pair succeeded to break the key resistance 1.3833 with stability above, it will continue rising targeting to reach the level 1.3906 which represents 200% Fibonacci's continuous level for the BC rib.

    Res: 1.3844 1.3890 1.3960
    Pivot: 1.3774
    Sup: 1.3728 1.3658 1.3612
    EUR.jpg

    GBP/ USD

    The pair dropped during yesterday's strong trades reaching the support level 1.6125 which is still stable against the pair testing till now, the most important to notice is that, the pair will form a double bottom reflective pattern if succeeded to break the mentioned support level as it is noticed through this chart.
    So, it is expected that, the pair will continue declining during today's intraday trades but under the condition of breaking the support level 1.6125, to target then the support level 1.6055 as the first target of this declining, then it will target the level 1.5990.

    The stability of these expectations requires the stability of the key resistance 1.6195.

    Res: 1.6233 1.6328 1.6402
    Pivot: 1.6159
    Sup: 1.6064 1.5990 1.5895
    GBP.jpg

    USD/CHF

    The near and medium-term bearish direction is still dominating the price action of the USD/CHF pair; this direction has been formed through the move between the boarders of a bearish channel, whereas yesterday trades saw a new record by reaching the level 0.9233 and it is expected that, the pair will continue registering a new low records during the upcoming trades, targeting the support level 0.9204 which represents 127% Fibonacci's continuous level for the uptrend (from 0.9325 to 0.9774). So, if the pair succeeded to break this level down, it will have a further drop targeting the next support level at 0.9048 which represents 161.8% Fibonacci's continuous level for the same mentioned uptrend.

    The stability of these expectations requires the stability of the key resistance 0.9325.

    Res: 0.9320 0.9377 0.9421
    Pivot: 0.9276
    Sup: 0.9219 0.9175 0.9118
    CHF.jpg

    USD/CAD

    As noticed in the chart, the pair is trading since yesterday till this moment at the area which is between the support level 0.9793 and the resistance level 0.9841.
    But the bearish direction is dominating on the pair move for the intraday levels therefore it's expected that the pair will break the support level 0.9793 and the stability below it gives preference for the pair to continue declining till the support level 0.9763.
    And breaking the pair the resistance level 0.9841 and the stability above it will enhance the pair’s direction towards up till the resistance level 0.9877.

    Res: 0.9876 0.9929 0.9960
    Pivot: 0.9845
    Sup: 0.9792 0.9761 0.9708
    CAD.jpg

    AUD/USD

    The pair is still rising to reach the resistance level 1.0155 which will coincide at it the price with the bearish trend line for the long-term, this bullish scenario was expected after breaking the pair the resistance level which represents 61.8% Fibonacci retracement correction level for the bearish direction ( from 1.0155 to 0.9965 ), if the pair is able to break the resistance level 1.0155 with breaking the bearish trend line, the pair will continue rising till reaching the level 1.0206 which represents 127% Fibonacci retracement continuous level for the same mentioned bearish direction.

    This expectation depends on the stability of the support level 1.0082.

    Res: 1.0138 1.0191 1.0260
    Pivot: 1.0069
    Sup: 1.0016 0.9947 0.9894
    AUD.jpg


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  12. GIGFX

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    Monday 28-2-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    As it was mentioned through the previous report, the end of the last week trades saw a retreating for the single currency against its counterpart, this retreating had some previous mentioned signals; one of them is the completeness of the harmonic pattern AB=CD by reaching the point D that is located between the level 1.3810 and 1.3833 which represents 161.8% Fibonacci's continuous level for the rib BC, and also the appearance of the reflective candles for uptrend in the same area of completing the pattern. It was expected that, the pair will decline till reaching the support level 1.3716 and this is what happened indeed. At the beginning of the current week trades, the pair continued forming a bottom at the mentioned support level 1.3716 that the pair used it to push upwards to re-test the nearest resistance levels such as the level 1.3767 which with its breaking, the pair will continue rising to reach the resistance level 1.3833 then the level 1.3906.

    The stability of these expectations requires the stability of the support level 1.3716.

    Res: 1.3816 1.3884 1.3930
    Pivot: 1.3770
    Sup: 1.3702 1.3656 1.3588
    EUR.jpg

    GBP/ USD

    As it was expected through the end of the last week report, indeed, the pair succeeded to break the level 1.6125 which represents the base line of the double bottom pattern that has been formed for the medium-term price action, targeting the support level 1.6055 that was mentioned before as the first target for the pattern, the pair reached this level to test it then reflected up again re-testing the same mentioned level 1.6125.
    It is expected that, the pair might retreat targeting the support level 1.6055 again then it will reach the last target of the pattern at the support level 1.5990.
    But this scenario requires the stability of the key resistance 1.6125 against the pair testing with a close below with negative signals like a Japanese candles pattern or a signal of the momentum move or forming any negative pattern on the price action.

    Res: 1.6174 1.6233 1.6305
    Pivot: 1.6102
    Sup: 1.6043 1.5971 1.5912
    GBP.jpg

    USD/CHF

    The bearish direction is still dominating the pair's move for the near and medium-term, this direction has been formed through the moving inside a bearish channel, whereas, the trades of the end of the last week saw rising for the pair from the formed bottom at the level 0.9233 targeting to test the nearest resistance levels such as the key resistance 0.9325 at which the price coincided with the top boarder of the bearish channel where, a top has been formed and the pair used it to push down during the last intraday trades, the pair is in its way to test the support level 0.9233 which with its breaking down, the pair will retreat till reaching the level 0.9204 which represents 127% Fibonacci's continuous level for uptrend (from 0.9325 to 0.9774). And if the pair succeeded to break this level down, the pair will retreat targeting the next support level at 0.9048 which represents 161.8% Fibonacci’s continuous level for the same mentioned uptrend.

    The stability of these expectations requires the stability of the key resistance 0.9325.

    Res: 0.9323 0.9361 0.9404
    Pivot: 0.9280
    Sup: 0.9242 0.9199 0.9161
    CHF.jpg

    USD/CAD

    The pair is still moving inside the bearish channel since the previous days for the medium-term, the pair is facing now the support level 0.9768 which represents the lower border for the channel therefore it's expected for the intraday trades, the probability of reflecting the pair up to test the resistance level 0.9910 which represents the top border for the channel but the pair must break the resistance level 0.9823 with the stability above it then break the level 0.9865 with the stability above it.
    In case of breaking the support level 0.9768 with the stability below it, the pair will continue declining till the support level 0.9734.

    Res: 0.9815 0.9849 0.9869
    Pivot: 0.9795
    Sup: 0.9761 0.9741 0.9707
    CAD.jpg

    AUD/USD

    As expected in the last week report, the pair continued rising till reached the resistance level 1.0155 whereas it was able to break this level up and also broke the bearish trend border for the long-term declaring by that the beginning of forming a new bullish direction, therefore it's expected during the next trades a further rise till reaching the level 1.0206 which represents 127% Fibonacci retracement continuous level for the bearish direction ( from 1.0155 0.9965 ) then the next resistance level at 1.0272.

    This expectation depends on the stability of the support level 1.0120.

    Res: 1.0205 1.0236 1.0296
    Pivot: 1.0145
    Sup: 1.0114 1.0054 1.0023
    AUD.jpg

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  13. GIGFX

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    Wednesday 2-3-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    During yesterday trades, the pair failed to break the important key resistance 1.3860 where it formed a top around this level and used it to push declining breaking the bullish trendline for the near and medium-term, this line represents the bottom boarder of the bullish wedge pattern that shifts the direction, so that, the pair is supposed to continue its corrective bearish direction targeting the level 1.3591 which represents the target of the bullish wedge pattern and also represents 61.8% Fibonacci's retracement correction level for the bullish move (from 1.3428 to 1.3855). But in order to reach this level, the pair should break the support level 1.3754 that the current trades are around where, a positive divergence is noticed for the bullish direction that may push the pair up if a bottom has been formed at, and in this case the pair will rise trying to test the key resistance 1.3860.

    Res: 1.3831 1.3887 1.3921
    Pivot: 1.3797
    Sup: 1.3741 1.3707 1.3651
    EUR.jpg

    GBP/ USD

    The bullish direction is still dominating the price action of the pair for the near-term trades and the intraday levels whereas, the pair rose yesterday to test the key resistance 1.6330 from which it reflected down with expectations of more rising, and what confirms this expectations is breaking the price to the simple moving average index 50 and trading above it till now, the pair now is in its way to test the support level 1.6195 which performs as the mentioned simple moving average index 50, and also the appearance of the positive divergence on the stochastic index below the chart, this divergence indicates that the pair may rise during today's intraday trades.
    Moving the pair up will target the key resistance 1.6330 as the first target of this bullish wave then it will target the key resistance 1.6410.

    The stability of these expectations requires the stability of the support level 1.6195.

    Res: 1.6312 1.6358 1.6389
    Pivot: 1.6281
    Sup: 1.6235 1.6204 1.6158
    GBP.jpg

    USD/CHF

    The pair is still soaring during the last near-term trades using the formed bottom at the support level 0.9233 whereas, the pair succeeded to break the top boarder of the bearish channel declaring the first reflective signals for the bearish direction, a stronger signal is remained and it is by breaking up the key resistance 0.9235 then, the pair will continue forming a corrective bullish direction targeting the level 0.9361 which represents 23.6% Fibonacci's correction level for the downtrend (from 0.9774 to 0.9233), then the pair will target the level 0.9440 which represents 38.2% Fibonacci's correction level for the same mentioned downtrend and also represents the final target of breaking out this bearish channel.

    The stability of these expectations requires the stability of the support level 0.9233.

    Yesterday analysis is still remaining till now

    Res: 0.9311 0.9340 0.9359
    Pivot: 0.9292
    Sup: 0.9263 0.9244 0.9215
    CHF.jpg

    USD/CAD

    As noticed in the chart, the pair dropped yesterday to its lowest level since 2007 and a hummer shaped candle has been formed at the level 0.9686 and this is a signal for the pair rising during the intraday trades and it will target the resistance level 0.9788 which represents 23.6% Fibonacci retracement correction level for the last bearish wave and if it will be able to stable above this level, the pair will continue rising till targeting the resistance level 0.9821 which represents 50% from the previous mentioned Fibonacci retracement correction level.
    But with breaking the support level 0.9747 and the stability below it, the pair will target the support level 0.9686 again.

    Res: 0.9770 0.9797 0.9841
    Pivot: 0.9726
    Sup: 0.9699 0.9655 0.9628
    CAD.jpg

    AUD/USD

    The pair was not able to break the resistance level 1.0206 which represents 127% Fibonacci retracement correction level for the bearish direction ( from 1.0155 to 0.9965 ) it was the first signal for the pair declining which was confirmed yesterday with breaking the support level 1.0155 down and also breaking the previous broken bearish trendline up which means that the pair will be able to continue forming the corrective bearish direction for the last bullish wave, the pair is trading now nearest the support level 1.0082 which represents 50% Fibonacci retracement correction level for the bullish direction ( from 0.9965 to 1.0200 ) it's expected with breaking this level the pair will continue declining reaching the level 1.0020 which represents 76.4% Fibonacci retracement correction level for the previous mentioned bullish direction.

    This expectation depends on the stability of the resistance level 1.0145

    Res: 1.0179 1.0228 1.0256
    Pivot: 1.0151
    Sup: 1.0102 1.0074 1.0025
    AUD.jpg

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  14. GIGFX

    GIGFX New Member

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    Thursday 3-3-2011 GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    As it was expected through yesterday's report, the pair formed a bottom at the support level 1.3750 and used it to push upside till reached the important key resistance 1.3860 again, the appearance of a positive divergence from the RSI index, that continues the bullish move was confirm this scenario. At the last intraday trades, the pair was trading around this important key resistance and if the pair was able to break it completely with good close above, the pair will continue rise targeting to reach the level 1.3977 which represents 127% fibonacci's retracement continuous level for the bearish move from 1.3860 to 1.3428.

    The stability of these expectations requires the stability of the support level 1.3750.

    Res: 1.3921 1.3979 1.4068
    Pivot: 1.3832
    Sup: 1.3774 1.3685 1.3627
    EUR.jpg

    GBP/ USD

    As it was expected through yesterday's report, the pair rose upside targeting the key resistance 1.6330 using the formed bottom that has been formed at the support level 1.6215 to begin its rising starting with that level, forming AB=CD harmonic pattern for the near-term, and now it is in the final stage of forming the last wave CD expecting more rising during today's intraday trades targeting the key resistance 1.6410 as the first target followed by the key resistance 1.6510 which represents the point D and the end of the formed harmonic pattern.
    The condition of confirming this scenario is to break the key resistance 1.6330 which represents the point B with stability above.

    The stability of these expectations requires the stability of the support level 1.6215.


    Res: 1.6372 1.6421 1.6500
    Pivot: 1.6293
    Sup: 1.6244 1.6165 1.6116
    GBP.jpg

    USD/CHF

    During yesterday trades, the pair achieved a new record by reaching the level 0.9202 which represents 127% Fibonacci's continuous level for the bullish move from 0.9325 to 0.9774, this new move has been indicated by a bullish move for the stochastic index and this means an appearance of a positive divergence that shifts the downtrend into uptrend, so with the stability of the level 0.9202 the price will respond to the divergence that will be confirmed by breaking the resistance level 0.9270 upward there, the pair will continue rise targeting to reach the resistance level 0.9325 again. If the pair succeeded to break the level 0.9202 it will ignore the reflective signals targeting to reach the next support level 0.9046 which represents 161.8% Fibonacci's continuous level for the same mentioned uptrend.

    Res: 0.9283 0.9331 0.9372
    Pivot: 0.9242
    Sup: 0.9194 0.9153 0.9105
    CHF.jpg

    USD/CAD

    The pair formed a harmonic pattern during the long-term trades which the pair began it from the A point at the level 1.0216 since the end of the last year, the pair has taken the bearish move by forming a harmonic pattern till it settled at the D point at the level 0.9667.
    Therefore it's expected for the pair during the intraday trades to take the corrective side which is the bullish direction until testing the resistance level 0.9836 which represents the B point.

    This expectation depends on the stability of the support level 0.9667 which represents the D point.


    Res: 0.9835 0.9805 0.9767
    Pivot: 0.9737
    Sup: 0.9699 0.9669 0.9631
    CAD.jpg

    AUD/USD

    The pair has formed a bottom at the borders of the level 1.0082 which represents 50% Fibonacci retracement correction level for the bullish direction ( from 0.9965 to 1.0200 ), this bottom returned again the bullish move for the pair and it's expected that this bottom had came to draw a bullish trendline for the medium and the short-terms, remaining the effectiveness of this line will be continued with breaking the resistance level 1.0200 which with breaking it up means continuing the bullish move till the level 1.0271 which represents 161.8% Fibonacci retracement continuous level for the bearish direction ( from 1.0200 to 1.0085 ).

    This expectation depends on the stability of the support level 1.0082.


    Res: 1.0203 1.0239 1.0298
    Pivot: 1.0144
    Sup: 1.0108 1.0049 1.0013
    AUD.jpg

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    #14 GIGFX, Mar 3, 2011
    Last edited: Mar 3, 2011
  15. GIGFX

    GIGFX New Member

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    Friday 4th of March 2011GIGFX Technical Analysis Report (updated daily)

    EUR/USD

    The bullish direction is still dominating the pair's move for the short and medium-term after forming a head and shoulders pattern that continues this direction as it is noticed in this chart.
    The pair succeeded to break up the neckline to reach the first target of this breaking at the level 1.3860 that the pair was able to reach during the trades of the day before today and also succeeded to re-test it and to break it amid a momentum that indicates more rising during today's intraday trades targeting the key resistance 1.4015 and it is the second target of breaking the formed pattern for the medium-term.

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

    Res: 1.3921 1.3979 1.4068
    Pivot: 1.3832
    Sup: 1.3774 1.3685 1.3627
    EUR.jpg

    GBP/ USD

    As it was expected in yesterday's report, the pair rose upside targeting the key resistance 1.6330 using the formed bottom that has been formed at the support level 1.6215 to begin its rising starting with this level, forming AB=CD harmonic pattern for the near-term, and now it is in the final stage of forming the last wave CD expecting more rising during today's intraday trades targeting the key resistance 1.6410 as the first target followed by the key resistance 1.6510 which represents the point D and the end of the formed harmonic pattern.
    The condition of confirming this scenario is to break the key resistance 1.6330 which represents the point B with stability above.

    The stability of these expectations requires the stability of the support level 1.6215.

    Yesterday analysis is still remaining till now

    Res: 1.6372 1.6421 1.6500
    Pivot: 1.6293
    Sup: 1.6244 1.6165 1.6116
    GBP.jpg


    USD/CHF

    Now the pair is moving inside a sideways channel between the key resistance 0.9329 and the support level 0.9230, so it is expected during today's intraday trades that the pair will decline till reaches the bottom boarder of the channel at the level 0.2930 to test it but under the condition of remaining the pair below the key resistance 0.9329 which represents the top boarder of the channel.
    But if the pair was able to break the key resistance 0.9329 which represents the top boarder of the channel, then the pair will target to reach the level 0.9415.

    Res: 0.9283 0.9331 0.9372
    Pivot: 0.9242
    Sup: 0.9194 0.9153 0.9105
    CHF.jpg

    USD/CAD

    The pair formed a harmonic pattern during the long-term trades which the pair began it from the A point at the level 1.0216 since the end of the last year, the pair has taken the bearish move by forming a harmonic pattern till it settled at the D point at the level 0.9667.
    Therefore it's expected for the pair during the intraday trades to take the corrective side which is the bullish direction till testing the resistance level 0.9836 which represents the B point.

    This expectation depends on the stability of the support level 0.9667 which represents the D point.

    The previous analyze still remains

    Res: 1.6208 1.6282 1.6336
    Pivot: 1.6154
    Sup: 1.6080 1.6026 1.5952
    CAD.jpg

    AUD/USD

    The pair is taking the bullish move for the medium and the short-term, the pair is in process of forming the ( Gartley )harmonic pattern targeting the located area between the supports levels 1.0072 and 1.0055 whereas the pair is moving now in the last CD wave for the pattern therefore it's expected a further drop will accompany the pair’s move during the intraday trades targeting this previous mentioned area.

    This expectation depends on the stability of the resistance level 1.0170.

    Res: 1.0203 1.0239 1.0298
    Pivot: 1.0144
    Sup: 1.0108 1.0049 1.0013
    AUD.jpg

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  16. GIGFX

    GIGFX New Member

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    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
    EUR.jpg



    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

    GBP.jpg


    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
    CHF.jpg


    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
    CAD.jpg



    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
    AUD.jpg




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    #16 GIGFX, Mar 7, 2011
    Last edited: Mar 7, 2011
  17. GIGFX

    GIGFX New Member

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    Tuesday 8th of March 2011 GIGFX Technical Analysis Report (updated daily)

    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
    EUR.jpg

    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
    GBP.jpg

    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
    CHF.jpg

    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
    CAD.jpg

    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
    AUD.jpg

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  18. GIGFX

    GIGFX New Member

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    Wednesday 9th of March 2011 GIGFX Technical Analysis Report (updated daily)

    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
    EUR.jpg

    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
    GBP.jpg

    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
    CHF.jpg


    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
    CAD.jpg

    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
    AUD.jpg


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  19. GIGFX

    GIGFX New Member

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    Thursday 10th of March 2011 GIGFX Technical Analysis Report (updated daily)

    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
    EUR.jpg

    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
    GBP.jpg

    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
    CHF.jpg

    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
    CAD.jpg

    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
    AUD.jpg

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  20. GIGFX

    GIGFX New Member

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    Friday 11th of March 2011 GIGFX Technical Analysis Report (updated daily)

    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
    EUR.jpg


    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
    GBP.jpg

    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
    CHF.jpg

    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
    CAD.jpg

    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
    AUD.jpg


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