ForexTechnical Analysis

[FXGLORY]

Technical analysis of USD/CHF

From a technical point of view the currency pair of USD/CHF has a descending trend in 4h time frame. Therefore, we cannot expect an ascending trend of the price in the current situation. Moreover, the price is stuck in a descending channel which again shows another fall in the price. The average of last 21 days’ activities, also, approves this descending trend. But, on the 1 day time frame the situation is different and a warning is issued about a rising in the price. In fact, the factor which is preventing more descent of the price from the supportive level of 90.501 is the ascending trend line (consists of 2 supportive points). Right now, the sellers are trying to defend this supportive level.

The most important resistance and supportive lines of today:


R2=91.316
R1=90.772
S1=90.501
S2=90000

Written by the technical team of FxGlory Brokergae.

 

[FXGLORY]

Technical analysis of USD/JPY

The currency pair of USD/JPY is currently in a descending trend and the market is in the hand of sellers. From 21st of March when this descending trend begun, the price of this currency pair was located in a descending channel and several warning were issued aboutcreation of top price and bottom price which you can see in the following picture.

Right now, in 4h time frame of this currency pair, we can see the formation of hammer candle stick pattern and a reverse hammer pattern which is the reason of formation of the bottom price in this level. The reason of formation of candle stick patterns is the inability of sellers to reach the lower price. There is the possibility of price reformation in its previous descending trend and this means that the seller can make cash their profitable trades.
The RSA indicator is located in the saturation area of selling and issues the warning of an ascending trend even for a short time. The co-occurrence of hammer candle stick, reverse hammer and the indicator’s signal increase the possibility of price’s reformation.

The current most important level of support and resistance:

R= 80.300
S= 79.721

Written by the technical team of FxGlory Brokerage
2012.05.01

 

[FXGLORY]

The currency pair of USD/CHF 05/02/2012

After moving 50 pips up from the bottom price, the movement of the USD/CHF currency pair was stopped on 1st of May. In fact, this currency pair is stuck in a descending channel. With a close analysis of market’s reaction once the price faced with the supportive and resistance level of this descending channel, we can realize the power of this channel which causes several ascending and falling of the price.

As we said in our previous technical analysis, the reason that the price does not fall any more is the ascending trend of the market in the daily time frame which right now, the third point of this trend is made. The symbols of ascending of the price, which the supportive line is one of the most important one, cause the ascending of the price, however, the price is in the area of descending channel right now ,as you can see in the below picture.

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Written by the technical team of FxGlory Brokerage
05/02/2012

 

[FXGLORY]

Technical analysis of EUR/USD currency pair 05.03.2012

When the price reached the descending trend line, which is drawn in the picture, on 1st of May, the price was starting falling. This movement was exactly what all technical traders predicted about the market’s movement. Right now, we can see in the daily chart that the price is going to fall and there is not any evidence of ascending trend. The daily candle is closed under the average of 5 days and it shows the price is going to start a descending movement, even a small one, to reach the supporting trend line which you can see in the below picture. Also, by using Stoch indicator again we see that the price wants to fall and we see the possible falling signal in this indicator. If, according to these hypotheses, the price started its descending movement, it would reach the supporting trend’ line at least.

2012.05.03
Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of USD/CAD currency pair 05.04.2012

Right now, in the daily chart of this currency pair the dominant trend of the market is the descending trend which is weak. Considering the strong ascend of the price on 07.24.2012, this descending trend is like a reformation of the price. In this time frame, the price is surrounded by two resistance lines which are determined by the red and blue color which played their role very well for several times.
Whenthe price reached the blue resistance line on 26th and 27th of April, it lost its power for more descending and fall, also this resistance lines prevent more descend movement of the market.
Right now, there is a possibility for an ascendingmovement of the price and reaching the red resistance line. Also the Formationof a positive divergence between the price and RSA indicator empower this possibility.

The most important resistance and supportive levels:

R= 0.98990
S= 0.98300

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of EUR/USD 07.05.2012

As we predicted in our last technical analysis on EUR/USD, this currency pair started a descending trend from 1st of May and reached the minimum goal which was predicted by the analyzers for this trend.

Right now, this currency pair is located in very important supportive levels which prevent more falling of the price. At this moment, there is a Hammer candle stick pattern in 4h time frame which shows that the seller are forces to retreat temporarily and also shows the price is going down.

Please consider that, price is out of the selling area and some of the sellers tend to cash their positions. Also, It is possible that the price reform this descending trend partly.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

The technical analysis of USD/CHF 08.05.2012

The ascending of the price of USD/CHF on 1st of May was under the influence of an ascending trend as we mentioned it in our former technical analysis. Right now, the price passed the resistance level which is determined in the below picture and it registered the new price 0.92653. After the registration of a new price, the buyers will start making cash their trades and finally this will cause the fall of the price. Afterthe fall, the price will be stopped in the change of polarity level (after breaking of the red resistance level becomesthe supportive line) which is determined by the blue color.

Change of polarity level which right now is considered as the supportive line is playing its role very well. When the change of polarity line plays its role as a supportive line, it is helped by an ascending trend line. This ascending trend line, also, issued a warning of ascend and jump of price.

Right now, these two elements are preventing the falling of the price and therefore, they create a bottom price in this area. As far as remaining of the price in this level (0.91945), we cannot expect ascending of the price to the 0.92500 level.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of EUR/USD 09.05.2012

As we mentioned in our previous analysis EUR/USD was located in saturation area of sell and according to our prediction the price started its ascending movement. Right now, this currency pair has reached the supportive levels which it was not able toreach these levels on 7th of May. We predict that as far as these supportive levels are preventing fall of the price, the buyers like to reach and even pass this supportive line which is determined by red color in the following picture.

The price is in the situation of “ sellsaturation” and we expected that EUR/USD reforms its previous trend. If this reformation of the price could create a good gap between itself and the supportive levels, the price would start an ascend.In this moment, the sellers are waiting to see the reaction result of the price to these supportive levels.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of USD/CHF 10.09.2012

The USD/CHF currency pair is in an ascending trend right now. This ascending trend has been started on 1st of May from the third point. if the ascending trend line which we predicted in our last analysis about USD/CHF.

At the present moment, the ascending trend is stopped and it is obvious that there is an important resistance level which you can see it in the below picture. This transformative level has been tested twice and it was successful to issue the warning of falling of the price. In the 4H time frame a top price is forming and between considering different candles which are located under the resistance level we can understand that there is a war between sellers and buyers which none of them are successful to win the battle.

It is good to remember that in this time frame there is potentiality of descend of the price and formation of a reform in the price. In analyzing the 1h time frame there is a transformative level which plays the role of a supportive level and prevents the falling of the price. If the price breaks this line and passes it, it is possible that we see the descending trend and the reformation of the price.

The most important resistance levels:

R1= 0.93000

R2= 0.93350


Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of AUD/USD 11.05.2012

The AUD/USD currency pair has been in a strong descending trend from 30th of April. Right now, this currency pair is got stuck in the ascending trend. In the weekly chart of this currency pair, you can draw a supportive level which is preventing the falling of the price by connecting two bottoms of the price.

It is soon that we think this descending trend is finished and an ascending trend starts. But, by analyze of the daily and weekly charts we can find some signs of finishing of the descending trend and start of a reformation in the price.

In picture number two, as you can see, there is a descending channel price which is reached to the supportive level and causes the formation of two important “Candle stick patterns”:

• Inverted Hammer Pattern
• Harami Pattern

Both of these candle stick patterns issue the warning of “bottom price” and the possibility of an ascending from them which is the symbol of sellers’ failure. Moreover, the price is in the situation of saturation also the Stoch indicator confirms this and issues a signal for formation of a “bottom price” with its waves.

On the whole, by considering the severe falling of the price and without a chance of reformation from 30th of April, we can expect an ascending in the price and reformation of the descending trend from this bottom price until the price reaches the 1.00209 level.

The most important resistance and supportive levels:

R2= 1.01411

R1= 1.02234

S= 1.00209

Written by the technical team of FxGlory

 

[FXGLORY]

Daily technical analysis of USD/JPY

The USD/JPY currency pair broke its descending trend in weekly chart after several years. You can see the descending trend line of this currency pair with 5 top prices which is finally broker after passing of the price from this line.

In the weekly chart, the price formed a hammer pattern which indicates the possibility of formation of a bottom price in this area and therefore causes an ascending in the price. Also, locating of Stoc indicator in the saturation area of selling empowers this theory. The hammer candle stick is formed in a transformative level which is drawn in the picture 2 increase the accuracy of the warning about the end of descending trend. As far as the existence of the 79.535 and 79.429 as the price levels which prevent the falling of the price we can expect the ascending of the USD/JPY.


Written by the technical team of FxGlory

 

[FXGLORY]

A test for the price reformation

The currency pair of NZD/USD is right now in the selling saturation area. Also, some small ascending jumps, which are shown in the 1m time frame, are good reasons of making cash the sellers’ orders and the exiting of them from their orders.The drawing fork in the below chart, shows its power when its first signal was issued (facing with supportive line) and help the price to jump to the middle lines. However, because of the descending trend the price could not reach the middle line and fell. The fell shows that this descending trend is continuing.

Right now, a hammer candle stick is formed in the 4h time frame which shows that a bottom price is forming in this point and of course causes an ascending in the price.The situation of the RSA indicator is saturation of selling and with the price it looks in a divergence situation which is a warning for the ascending of the price.We can expect as far as this supportive level of 0.77490 is effecting, the price could reform its strong previous descending trend.


Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Daily technical analysis of USD/JPY

As we mentioned in the previous technical analysis of FxGlory about USD/JPY currency pair, there were some evidence about starting an ascending trend of the price and the end of the descending trend. Right now, our previous predication comes to reality and the price started to go up from 9th May.

We can find out from the weekly chart of this currency pair that this ascending trend will continue its movement or not. According to the signs which we can see in the market, we can expect the continuity of this ascending trend. As you can see in the below picture the price is closed above the average of the changes of recent 5 days and until when the supportive level of 79.421 is there and plays the role of a bottom price, there is the hope of starting of an ascending trend of the price and reaching the important resistance level of 81.700

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of USD/CHF 05.17.2012
Written by the technical team of FxGlory Brokerage

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The price continued its ascending trend without any special reform in it, after itascended in third point of ascending trend line on 1st of May. Right now, by considering the rules of trend lines and channels, we can draw an ascending channel of the price in this currency pair.

As you can see in the below picture we drew this channel to have a clear view for predicting the market movement. By considering formation of Rickshaw Man Pattern we can easily understand that the market cannot decide about its next movement and there is the possibility of formation of a top price and consequently the fall of the price. Also, because the Stoch indicator is located in saturation buying area, there is the possibility of descending of the price and reforming of the ascending trend which has been begun now.
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[FXGLORY]

Technical analysis of USD/CHF 05.21.2012


The USD/CHF has formed a top price on the supportive level which is indicated by red line and also the price is closed under the average of last 5 days. As we mentioned in our last technical analysis about this currency pair, there was the possibility of formation of a reformof the price and formation of a top price in this area. Due to some basic news this reform and formation happened with a delay.

Considering that the price is reached the resistance level of the ascending channel in daily time frame and also, the descending movement of Stoch indicator and finally, the formation of a top price in this area, it is much risky to open a buy position now.

Until when this top price and resistance level of 0.94971 are not broken, there is the possibility of falling of the price and reform of the previous trend. We can mention the supportive level of 0.93361 as one of next most important supportive levels.

 

[FXGLORY]

The currency pair of USD/CAD 22.05.2012

This currency pair has been in an ascending trend and without reformation trend since 30th April. By considering the daily chart and from the technical point of view we can expect that this trend reform its previous movement. Considering the Hanging Man pattern on 18th May and the next day candle which is a descending candle, on the whole make a descending pattern which is the sign of the fall of the price. Stoch indicator is also in the saturation buying area and it is expected to start is falling movement.

As far as when the resistance level of 1.02400 is not broken we can expect the reformation of the price and its return to the lower price.Right now, most of the buying signals in the smaller timeframes are so risky to be successful because in the daily time frame there is the possibility of the falling of the price.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of USD/JPY 23.05.2012


Thus USD/JPY currency pair after reaching the resistance level, which is determined in the picture, reacted well to this level. The candle which is closed on this line has a long shadow which is the sign of defeat of buyers in front of sellers. Right now, this currency pair is surrounded by two supportive and Resistance lines which we can use them in next analyses.Considering that the Stoch indicator is located in saturation area of sell and as far as the bottom price and the important supportive level of 79.000 is not broken, we can expect the ascend of the price. Right now, until we do not see the sign of ascending movement in the time frame of 4 hours, we cannot expect ascend of the price.

The most important supportive and resistance levels:

R2: 80.546

R1: 80.142

S1:79.404

S2:79.000

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Does the gold ascend during this week?

The gold started falling after reaching the descending trend line which is indicated by the black line on 1st of May. Right now, the price is located in the area of the supporting lines and levels which prevent more falling of the price. This situation is easily understandable by considering the formation of the candles with long below shadows. Right now, until when the green supportive line is not broken, we can expect ascend of the price to the resistance black line, at the first stage, and then to the red resistance line.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of GBP/USD 29.05.2012

Right now, the GBP/USD is in the area of supportive levels after its fall on 30th of April. Therefore, the sellers are not any more so sure that this descending trend will continue. As you can see in the below picture, this descending trend and fall was predictable from 30th of April and it was one of the signs of wolf waves which right now, is complete and the price is reached to the determined target.

Currently, the price is located in the saturation area of sell and the stoch indicator confirms this too. Also, the possibility of an ascending cycle is clear in this indicator but because this warning is not in the same way with the weekly time frame, we can consider this warning as a weak ascending reform.

In the area of green tape which is the supportive level of the price, the pattern of Doji is formed which is a good reason for the reverse of the price. But this candle does not have its own confirmation which is ascending candle, however, the dominant trend and movement of the market is descending trend in this situation. Until when the green tape is in the GBP/USD chart, we have the hope of the reform of the previous trend although, it may be a fragile and weak reform.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

GBP/JPY in a descending channel

Right now, the GBP/JPY is in a descending trend. This trend has been started since 21st of March. Also, the current descending channel of this currency pair prevented more falling three times, but the ascend of the price from this supportive line is fragile and small which is the confirmation of victory of the sellers. Right now, the price reached this supportive line for the third time and the formation of the candles with long bottom shadow is showing that the trader pay close attention to this line.

The third point is the place of facing the price with the channel in the 161.8 Fibonacci level. The price should break and pass this level for more descend. Right now, the price is the saturation area of sell and the price with the RSA indicator is in the divergence state. Divergences are often the sign of reversal trends in the warning charts.

Because the dominated trend of the market is descending trend, buying positions in this currency pair right now carry high risks. It is better to follow the movement of the market with a close analysis of the price in the 1h timeframe. The drawn lines in the 1h time frame are the most important supporting and resisting levels, and until when the blue line is not broken we can hope the reform of the price in this chart.

Written by the technical team of FxGlory Brokerage