Thursday February 9th 2012 GIGFX Technical Analysis Report

EUR/USD

The last trades of EUR/USD were in a narrow range near the level 1.3245 that the pair reached after holding the support area between the levels 1.3080 and 1.3025 as it was expected previously. It is expected that, the pair tends to continue rising it will break the current resistance level targeting the resistance level 1.3350 which may coincide with testing the bottom border of the broken channel, but if the resistance level 1.3245 held, the prices will retreat targeting to test the near support levels and it may test the support area between the support levels 1.3080 and 1.3025.

Res: 1.3292 1.3322 1.3356
Pivot: 1.3258
Sup: 1.3228 1.3194 1.3164



GBP/ USD

The Sterling ended the bullish CD rib for the AB=CD harmonic pattern at the resistance level 1.5927, thus during yesterday trades a top had been formed at this level forced the pair to form a corrective bearish wave, the pair formed a bottom at the support level 1.5792 which is located at 76.4% Fibonacci retracement correction level for the bullish CD rib therefore it’s expected that the pair will use this bottom to rise up again till retesting the resistance level 1.5927 which was expected to be broken up till the resistance level 1.5963 which represents 127% Fibonacci retracement continuous level for the last bearish wave.

This scenario depends on the stability of the support level 1.5792.

Res: 1.5897 1.5977 1.6027
Pivot: 1.5847
Sup: 1.5767 1.5717 1.5637



USD/CHF

The USD/CHF succeeded to hold at the support level 0.9115 which led the pair to rise again to retest the resistance level 0.9150 as it was expected, and it failed to rise again as it failed to break the resistance level 0.9150 which led the pair to decline again. It is expected that the pair will continue declining breaking the support level 0.9115 followed by the support level 0.9075.

The stability of these expectations requires holding the resistance level 0.9150.

Res: 0.9146 0.9169 0.9189
Pivot: 0.9126
Sup: 0.9103 0.9083 0.9060



USD/JPY

The USD/JPY pair broke the support level 76.79 which represntes the AB=CD harmonic pattern’s B point, it tried to correct this pattern, but it failed to hold below this level revereing up till retesting the resistance level 77.24 which represnts the D point depite that, but it’s expecetd during the intraday trades that the pair will try to retest correcting the pattern in order to retest the support level 76.79 and the stability below it will give the pair the chance to target the support level 76.51 as a 2nd target which erpersntes the C point then the support level 76.03 which represnts the A point.

This scenario depends on the stability of the resistance level 77.24.

Res: 77.23 77.43 77.70
Pivot: 76.96
Sup: 76.76 76.49 76.29


AUD/USD

During yesterday trades the AUD/USD pair retreated with retesting the support level 1.0750 which coincides with testing the double bullish channels near and long-terms boarders, this pushed the pair up in order to break the level 1.0794 targeting the level 1.0850 which coincides with the near-term channel’s top border, this depends on holding the level 1.0750 with the mentioned channels support levels, in case of trading the pair below it thus it’s expected that the main direction will be changed to the near-term; in order to target the support levels below the support levels 1.0686 and 1.0580 start.

Res: 1.0838 1.0879 1.0915
Pivot: 1.0802
Sup: 1.0761 1.0725 1.0684

Friday February 10th 2012 GIGFX Technical Analysis Report

EUR/USD

The narrow range is still dominating the trades of the single currency against the U.S. dollar between the levels 1.3320 and 1.3215, it is expected that, the pair may decline breaking the level 1.3215 to target the support area between the levels 1.3080 and 1.3025, or, it may break the resistance level 1.3320 targeting the level 1.3430, but the expectations tend to be bearish as the pair broke the bullish channel.

Res: 1.3332 1.3377 1.3434
Pivot: 1.3275
Sup: 1.3230 1.3173 1.3128



GBP/ USD

The Sterling formed the previous mentioned bullish wave which was initially awaited to reach the resistance level 1.5927, whereas this wave formed a bearish top at the resistance level 1.5885, this top pushed the pair down again, it’s expected that the bearish 1.2.3 pattern will be formed, the pair’s last trades is below the level 1.5800 which represents the support wave (1) thus the pair will continue forming the bearish wave (3) remaining part which will target the support level 1.5747, if the pair continued the bearish move therefore a further drop is expected till the support level 1.5662, this scenario depends on the stability of the resistance level 1.5885 breaking up this level means a further rise till the resistance level 1.5963.

Res: 1.5870 1.5923 1.5962
Pivot: 1.5831
Sup: 1.5778 1.5739 1.5686



USD/CHF

The pair retreated to the support level 0.9090 after it failed to break the resistance level 0.4140 which coincides with the bearish trendline for intraday trades, it rose again breaking the bearish trendline so it is expected that the pair will continue rising targeting the resistance level 0.9180 which represents the target of breaking the bearish trendline but under the condition of breaking the resistance level 0.9140, and if the pair broke the support level 0.9090 it will decline targeting the support level 0.9040.

The stability of these expectations requires holding the support level 0.9090.

Res: 0.9150 0.9183 0.9214
Pivot: 0.9119
Sup: 0.9086 0.9055 0.9022



USD/JPY

The USD/JPY pair rose and also targeted the resistance level 77.74 which represents the bullish channel’s top border which was formed during the previous trades, although that but it’s expected during the intraday trades that the pair will face the resistance level 77.74 then it will be pushed down in order to correct the bullish wave by targeting the support level 77.35 which represents 23.6% Fibonacci retracement correction level for the last bullish wave (from 76.05 to 77.74) breaking this level means a further drop for the pair till the support level 76.89 which represents 50% from the same previous mentioned Fibonacci levels, in condition the pair must break the support level 77.10.

This scenario depends on the stability of the resistance level 77.74.

Res: 77.92 78.19 78.65
Pivot: 77.46
Sup: 77.19 76.73 76.46


AUD/USD

The AUD/USD pair declined during yesterday trades after it formed a top around the level 1.0844 pushed it down till it broke the level 1.0750 in order to trade during the current trades around the level 1.0679 representing by 32.6% Fibonacci retracement correction level for the last bullish move (from 1.0144 to 1.0844), breaching this bullish channel support levels which was supporting the bullish move, whereas it’s expected that the pair will decline in order to target the level 1.0630 as a target for the near-term channel then the level 1.0530 as a target for the long-term, in condition the pair must break the level 23.6% from the same previous mentioned Fibonacci levels, with the probability of rising the pair in order to test one of the broken channel’s borders with testing the formed top around the level 1.0844.

Res: 1.0825 1.0866 1.0909
Pivot: 1.0782
Sup: 1.0741 1.0698 1.0657

Monday February 13th 2012 GIGFX Technical Analysis Report

EUR/USD

The pair formed a top at the level 1.3320 that pushed it to decline, the pair tried to test the main bullish trendline and rose targeting the level 1.3320 again, the pair formed the harmonic pattern AB=CD which will push the pair to continue rising during the upcoming near and mid-term trades but under the condition of breaking the resistance level 1.3320 which represents the point B of the pattern, then it will target the resistance level 1.3430 which represents the point D of the pattern, but holding the resistance level 1.3320 will push the pair to decline targeting to break the support level 1.3215 and will break the main bullish trendline targeting the support area between the levels 1.3080 and 1.3025.

Res: 1.3262 1.3344 1.3397
Pivot: 1.3209
Sup: 1.3127 1.3074 1.2992


GBP/ USD

The Sterling continued retreating during the previous week end till it completed the 1.2.3 pattern; it reached the support level 1.5747 area which represents the (3) wave end, a bottom was formed at this area pushed the pair up at this week trades beginning by registering a bullish gap as a sign of starting the new bullish directions, but it’s expected that the pair will cover all the price gap before rising again therefore it’s expected with retesting the support level area between the levels 1.5747 and 1.5728 during the next intraday trades searching to form a bottom again will push it up in order to breach up the bearish trendline for the near-term then breaching up the resistance level 1.5800 then the pair will initially continue rising till the resistance level 1.5885.

This scenario depends on the stability of the support level 1.5728.

Res: 1.5818 1.5894 1.5939
Pivot: 1.5773
Sup: 1.5697 1.5652 1.5576


USD/CHF

The pair stood at the support level 0.9090 as it was expected which led the pair to rose breaking the resistance level 0.9155 which represents 38.2% of fibonacci's correction level for the last bearish wave (From 0.9265 to 0.9090) and then it reached the resistance level 0.9195 which represents 61.8% of the same levels then it failed to break this level and declined reaching the support level 0.9130 (23.6%) as it began with a bearish gap. It is expected that, the pair will rise again to cover this gap and to retest the resistance level 0.9195 then it will decline but under the condition of breaking the resistance level 0.9155.

The stability of these expectations requires holding the support level 0.9090.

Res: 0.9213 0.9254 0.9310
Pivot: 0.9157
Sup: 0.9116 0.9060 0.9019


USD/JPY

After raising the USD/JPY pair during last week trades, it Fluctuated which led it to trade inside the sideway channel between the support level 77.55 which represents the channel’s lower border and the resistance level 77.74 which represents the channel’s top border, therefore it’s expected that the pair will get out from one of the previous mentioned borders, breaching the pair the support level 77.55 thus it will target the support level 77.33 but in case of breaching the resistance level 77.74 thus the pair will target the resistance level 77.93.

Res: 77.79 77.94 78.08
Pivot: 77.65
Sup: 77.50 77.36 77.21


AUD/USD

The AUD/USD pair retreated during the previous trades; it broke the level 1.0750 and reached the level 1.0640 which represents the bullish channel’s target for the near-term in order to rise testing the level 1.0750 again during the current trades also testing the both broken channel’s lower borders, in case of holding the level 1.0750 thus it’s expected that the pair will retreat again in order to break the level 1.0640 targeting the level 1.0530 as a result for breaching the mentioned channels, but in case of holding the pair above the level 1.0750 it’s expected that the pair will try to reach the resistance level 1.0844 represents the previous mentioned top and may breach it.

Res: 1.0753 1.0846 1.0903
Pivot: 1.0696
Sup: 1.0603 1.0546 1.0453

Thursday February 16th 2012 GIGFX Technical Analysis Report

EUR/USD

The EUR/USD broke the bottom border of the bullish channel for the last mid-term trades during the last trades and broke also the bullish trendline for the long-term trades which led the pair to decline to face the support area between the levels 1.3080 and 1.3025, trading the pair below the level 1.3025 may push it to continue its last bearish move targeting the support level 1.2950 as an initial target followed by the level 1.2850 which represents the target of breaking the mentioned channel, but also the pair probably may test the bottom border of the broken channel and may retest one of the near resistance level like 1.3125.

Res: 1.3157 1.3246 1.3301
Pivot: 1.3102
Sup: 1.3013 1.2958 1.2869


GBP/ USD

The Sterling formed a new bearish top at the resistance level 1.5728 retesting area which represents the head and shoulders pattern’s neckline, this top coincided with the bearish channel’s top border which is embodying the bearish near-term direction whereas the pair used this top in order to decline again by retesting the support level 1.5662 which represents 38.2% Fibonacci retracement correction level for the bullish long-term, breaching down this level is a main condition for continuing the bearish scenario which reaches the confined support area between the levels 1.5525 and 1.5499 (which represents 61.8% Fibonacci level), this area represents the head and shoulders pattern’s target in order to reach this area; the support level 1.5581 must be broken down, forming a new bottom above the support level 1.5662 will give a strong probability of forming a bearish reversal near-term double consecutive bottoms pattern, will be confirmed by breaching up the bearish channel’s top border then breaching up the resistance level 1.5728 which represents the pattern’s top in this case, then the pair will reach the resistance level 1.5800 which represents the probable price target.

Res: 1.5729 1.5765 1.5795
Pivot: 1.5699
Sup: 1.5663 1.5633 1.5597


USD/CHF

The pair declined to retest the support level 0.9150 which coincides with the bottom border of the bullish channel for near-term trades in which the pair is moving, which led the pair to rise again as it was expected breaking the resistance level 0.9250 which represents 23.6% of fibonacci's correction level for the last bearish wave (From 0.9575 to 0.9090) and reached the resistance level 0.9275 which represents (38.2%) and also coincides with the top border of the bullish channel, so, it is expected that, the pair will decline again to retest the near support level like the support level 0.9205 which coincide now with the bottom border of the bullish channel but under the condition of breaking the support level 0.9250.

The stability of these expectations requires holding the resistance level 0.9275.

Res: 0.9271 0.9308 0.9366
Pivot: 0.9213
Sup: 0.9176 0.9118 0.9081


USD/JPY

The USD/JPY pair is still trading below the formed bullish top at the resistance area 78.65 which represents the D point completing the CD rib for the AB=CD harmonic pattern, the pair will use this top in order to decline till testing the support level 77.80 which represents the B point, breaching down this level gives the pair the chance to decline till the next support level at 77.35 which represents the C point.

This scenario depends on the stability of the resistance level 78.65.
Previous Analysis is still remaining till now

Res: 78.66 78.89 79.14
Pivot: 78.41
Sup: 78.18 77.93 77.70


AUD/USD

The AUD/USD pair’s double consecutive bottoms pattern failed to break the resistance level 1.0777, whereas this level faced the pair in order to push it down by reaching the support level area which is located between the levels 1.0665 and 1.0640 which represents the previous formed sideway channel’s base, whereas it’s expected that the pair will retreat by breaching this area and also targeting the support level 1.0530 which represents the target from breaching this mentioned near-term channel, breaching this level is probable with targeting the level 1.0495 which represents 50% Fibonacci retracement correction level for the long-term bullish direction (from 1.0143 to 1.0844), which also coincides with the bullish channel’s target for the long-term trades which the pair broke it during the previous week, but holding the current support area may push the pair to test the level 1.0777 which represents the near-term sideway channel’s top border.

Res: 1.0757 1.0820 1.0865
Pivot: 1.0712
Sup: 1.0649 1.0604 1.0541