ForexTechnical Analysis

[FXGLORY]

Technical analysis of AUD/NZD dated 23.04.2013

As it is obvious in the picture below, price in AUD/NZD currency pair from the end of 2011till now was in a descending channel that Sellers have the price close to the supportive levels’ range of 2009 and 2010. Right now price is closed under 5-day moving average in long term time frames and could record the bottom price of 1.21575 in recent days. If the supportive level of 1.21334 breaks, the price finds the potential for descending up to the round level of 1.20000. Price during descending from the resistance edge of descending channel (top price of 1.26778) has stopped from more descend by reaching to the supportive range and it is fluctuating in green range.RSI indicator is in saturation sell area in daily time frame and according to the next cycle confirms the mentioned bottom price and warns about ascending during the next candles. By breaking the short term descending channel, there is first technical signal for starting the price reformation and ascending trend. Generally if the short term descending channel breaks, until the price level of 1.21575 is preserved, price has the potential for reformation and ascending from the supportive edge of descending channel.

FxGlory
2013.04.23

 

[FXGLORY]

Technical analysis of GBP/AUD dated 24.04.2013

As it was mentioned in the previous analysis of this currency pair dated 01.04.2013, according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. Right now the price is in the lowest prices in the recorded history and generally in long term interval according to the bottom price of 1.43759 and other factors, it has a good potential for ascending. Price could record the top price of 1.49373 during this ascending trend and stopped (In 4H time frame with the formation of AB=CD harmonic pattern and completing its D point, the price stopped from more ascends).

AB=CD harmonic pattern in weekly time frame of this currency pair is active yet and effects on the price. Price in weekly and daily time frame is above 5-day moving average and warns about the increasing of the price according to the ascending potential in this currency pair. Currently price at daily time frame has formed Shooting Star candlestick pattern (To notice this candlestick pattern, there is a need to closure of a descending candle) that shows the first warning signals for the formation of a top price. Stoch indicator is in saturation buy area in daily time frame and also confirms the candlestick pattern according to the next cycle and warns about price reformation (due to not being in the same direction with weekly time frame, it is not so valid). By breaking this resistance peak of 1.49373, there will be a signal for more ascends in this currency pair.

FxGlory
2013.04.24

 

[FXGLORY]

Technical analysis of CHF/JPY dated 25.04.2013

CHF/JPY during the recent months and from the bottom price of 78.272 was in a strong and without reformation ascending trend that buyers could record the top price of 107.413. Price stopped by reaching to the important resistance level of 107.115 (related to the date 09.08.2011) and after trying to break this resistance level twice that was unsuccessful, the price created a top price under that level.

Beside the mentioned resistance level, as it is obvious in the picture below the Fibonacci level of 2.00 is also one of the target prices of buyers during the ascending of price and when the price reaches to this level, by cashing the buyers’ trades the price has dropped. According to the formation types of price movements on the chart, there is a descending Butterfly harmonic pattern and by completion of the D point of this pattern, there will be a warning for descending and changing price direction. In Weekly time frame in the previous week, the weekly candle appeared as a Hanging Man candlestick pattern (to notice this candlestick pattern, there is a need to a descending candle as confirmation) that shows the possibility for formation of a top price and ending up the ascending of the price).

RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for changing price direction. Generally according to the formed sign in the price chart until the top price of 107.413 is preserved, the price has the potential for descending in this currency pair.

FxGlory
2013.04.25

 

[FXGLORY]

Technical analysis of GBP/CHF dated 26.04.2013

As it was mentioned in the previous analysis of this currency pair dated 19.04.2013 according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. During this process, buyers were able to register the highest price of 1.46438 that is one of their target prices for ascending of the price. As it is shown in the picture below, right now the price by reaching to the resistance line of ascending channel has stopped and has created a top price on it which shows cashing of the buyers trades and exit of some of them from the buy trades.

Between the bottom price of 1.39615 and top price of 1.46438, there is a descending AB=CD harmonic pattern, with the ratios of 78.6 and 127.2 that by completion of the ending point of this pattern, there is a warning for price reformation (Due to the rapid growth in CD wave and not completing of it, this pattern is not ideal).In the mentioned resistance level according to the formed movements, there is an ideal Shooting Star candlestick pattern that warns about formation of a top price and descending trend. RSI indicator is in saturation buy area in 4H time frame that confirms the top price of 1.46438 and warns about price reformation. In long term interval, there is the possibility for ascending of the price and the created top prices may be unstable.

FxGlory
2013.04.26

 

[FXGLORY]

Technical analysis of CAD/JPY dated 29.04.2013

CAD/JPY in recent weeks has been in a strong and consistent trend in the price movements which buyers have been successful in reaching to the highest price of 98.763. Currently the mentioned price level is fixed as a peak price, and it is the most important resistance level in front of the price. One of the buyers’ goals for their trades is Fibonacci level of 50 and the resistance edge of the uptrend channel that some buyers have used these levels to exit trades that eventually led to the formation of a peak price on the resistance edge of the uptrend channel.

In weekly time frame RSI indicator is in saturation sell area according to the recent ascending and also according to the formed movements in the price chart, it is in divergence mode with it that warns the potential of changing price direction. In top price of 98.763, there are 3 Shooting Star,Hanging Man, and Engulfing candlestick patterns that All point to the possibility of formation of a top price and the potential for changing price direction. In case of descending, one of the target prices will be 94.491 level. The first important warning to start a price reformation is breaking of the supportive level of 95.798. Generally, according to the signs in the price chart, until the top price of 98.763 is preserved, the price will have the potential for reformation in this currency pair.

FxGlory
2013.04.29

 

[FXGLORY]

Technical analysis of GBP/USD dated 30.04.2013

As it was mentioned in the previous analysis of this currency pair dated 18.04.2013 according to the formed signs in this price chart, finally price could ascend from the bottom price of 1.52143. As it was mentioned in the previous analysis of this currency pair, in long term interval there is a good potential for ascending that the price starts to ascend by making the third bottom price on ascending trend line and the buyers could record the top price of 1.55443. Right now this resistance level in 4H time frame is as a top price and it is the nearest resistance level in front of price. By breaking of this level, the price will have the potential for ascending (according to the potential of ascending in long term interval).

According to the formed movements in the price chart, between the bottom price of 1.48317 and top price of 1.55443 and also from the bottom price of 1.50335 to top price of 1.55443, there are 2 AB=CD harmonic patterns with the ratios of 50 and 161.8 that by completion of the D point, there will be the possibility of price reformation in this currency pair. In daily time frame there is Shooting Star candle stick pattern which shows cashing of the buyers trades and the potential for formation of a top price. If today daily candle closes in a descending trend, it confirms this pattern. By breaking of the supportive level of 1.54660, there will be the first signal for descending of the price and price reformation in this currency pair.

FxGlory
2013.04.30

 

[FXGLORY]

Technical analysis of AUD/USD dated 01.05.2013

AUD/USD during the recent weeks was in an ascending trend that buyers were successful in reaching to the highest price of 1.03839. The price has stopped from more ascend by reaching to the resistance edge of uptrend channel and a top price was created on the resistance line by the buyers retreat. Right now the price level of 1.03839 is known as a peak price by closing of the descending candle. As it is obvious in the picture below, between the bottom price of 1.02195 and the top price of 1.03839, there is an ideal AB=CD harmonic pattern with the ratios of 61.8 and 16.8 that warns about the potential for a price downfall from the D point.

RSI indicator in 4H time frame is in saturation buy area of the D point confirms AB=CD harmonic pattern and make the potential for a price downfall possible. If the downfall continues, the supportive levels of 1.03374 and 1.03278 will be the target prices. According to the ascending potential in weekly time frame, price reformation of 4H time frame is not stable and by breaking the resistance level of 1.03839, the descending signal for 4H time frame will be invalid.

FxGlory
2013.05.01

 

[FXGLORY]

Technical analysis of USD/CHF 02.05.2013

USD/CHF on 24.04.2013 by reaching to the descending trend line has been stopped from more ascend and finally by creating a top price descended. Sellers during the recent descending were successful in reaching to the bottom price of0.92465. As it is obvious in the picture below, the sellers were not able to descend more by reaching to the ascending trend line (a place to cash their trades) that cause formation of the third point on ascending trend line and now this bottom price is fixed by ascending trend candles. RSI indicator in 4H time frame is in saturation sell area that confirms the third point of ascending trend line ( also in 1H time frame it is in divergence mode with the price chart) and warns the potential for ascending of the price.

One of the current target prices is the resistance level of 0.93116 and by breaking of it; there will be more potential for ascending in this currency pair (moving toward the descending trend line). Until the third point of ascending trend line is preserved, there will be the potential for ascending of the price. In daily time frame of this currency pair, price is under 5-day moving average and there is not any clear reason for ascending of the price. If the bottom price of 0.92465 succumbs, the price will find the potential for reaching to the next supportive level of 0.92055.

FxGlory
2013.05.02

 

[FXGLORY]

Technical analysis of GBP/NZD 03.05.2013

GBP/ NZD form 2000 till now was in a strong and coherent descending trend that sellers strictly followed their descending price targets. Price during the recent downtrend was able to record the bottom price of 1.76933 and it is fixed by the ascending candles. The mentioned bottom price is the lowest price in the history of this currency pair and generally the price is in a saturation sell area. In monthly time frame of this currency pair, there is a hammer candle stick pattern that warns about the potential for formation of a bottom price and ascending of the price for buyers. According to the formed movements in the price chart, between the top price of 2.25137 and the bottom price of 1.76933 there is an AB=CD harmonic pattern with ratios of 61.8 and 127.2 that by completing the ending point of this pattern, there will be a warning for ascending trend.

As it is obvious in the picture below, the price reacts by coming across the supportive line and prepared a field for price reformation by creating the bottom price of 1.76933. RSI indicator in weekly time frame is in saturation sell area (also in divergence mode with the price chart) that confirms the mentioned bottom price by the next cycle and warns about the potential of changing price direction. Breaking the resistance level of 1.83843 is a good warning for ascending of the price. Generally according to the formed signs in this price chart, until the bottom price of 1.76933 is preserved, there will be the potential for ascending and price reformation in this currency pair.

FxGlory
2013.05.03

 

[FXGLORY]

Technical analysis of USD/CHF dated 06.05.2013

As it was mentioned in the previous analysis of this currency pair dated 02.05.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened. Price has been stopped from more ascending during this ascend by approaching to the resistance Fibonacci level of 61.8 (where the buyers’ trades will cash) and by forming a top price under it , was finally forced to descend. The price by a little descending went toward the ascending trend line and by creating a bottom price prepared the field for another ascending. Right now in daily time frame, price is above 5-day moving average and is ascending and going toward the resistance line.

Stoch indicator in daily and weekly time frames confirms the bottom price of 0.92465 and according to the next cycle warns about the potential of ascending during the next candles. If the price ascends, the buyers’ targets will be resistance level of 0.93980 and in the next step the descending trend line. Breaking the important supportive level of 0.93000 is an important warning for the failure of the buyers in reaching to their target prices and continuing the ascending trend.

FxGlory
2013.05.06

 

[FXGLORY]

Technical analysis of GBP/JPY dated 07.05.2013

GBP/JPY from the middle of 2012 till now was in a strong ascending trend and it was in saturation sell area (in long term intervals). Right now the buyers during the recent ascending trend were successful in reaching to the highest price of 154.739 and this mentioned resistance level is the most important resistance level in front of the price that by closing of daily candle as a descending candle the price level of 154.739 will be recorded as a peak price. As it is obvious in the picture below, the price has been stopped from more descending by reaching to the supportive level of 153.790 ( alterant level from resistant to support) and by creating a bottom price in this saturation area starts to ascend which shows the potential for ascending in this currency pair.

According to the formed movements in the price chart, between the bottom price of 137.836 and the top price of 154.739 there is an ideal butterfly harmonic pattern that by completion of the D point, there will be the possibility for changing price direction in this currency pair. RSI indicator is in divergence mode with the price chart (if the price level of 154.739 confirms as a peak price) and warns about the potential for price reformation and changing price direction. The first sign for starting a reformation movement and descending of the price is breaking the alterantlevel of 153.790. Generally until the price level of 154.739 is preserved, the price has the potential for descending and price reformation in this currency pair.

FxGlory
2013.05.07

 

[FXGLORY]

Technical analysis of AUD/USD dated 08.05.2013

As it was mentioned in the previous analysis of this currency pair dated 01.05.2013, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. Sellers could reach to the lowest price of 1.01529 which is recorded as a bottom price and warns the potential for ascending of the price. During this price downfall, the price has been stopped from more descending by reaching to the area of important supportive levels made of 3 bottom prices date back to 2012.

According to the formed movements in 4H time frame, between the top price of 1.03840 and bottom price of 1.03840 there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that by completion of the D point in this pattern, there is warning for ascending of the price. Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the D point of this pattern and warns about the potential of ascending during the next candles( because of not being in the same direction with long term time frame it is not much valid).

In daily time frame, the price by making a peak price under a descending trend line starts to fall and right now it is under 5-day moving average. It also warns about the potential for descending of the price, so the ascending signals are less in 4H time frame and if the mentioned supportive level breaks, the field for more descend in this currency pair will be prepared. Until the supportive range is preserved, the price will have the potential for ascending.

FxGlory
2013.05.08

 

[FXGLORY]

Technical analysis of GBP/CHF dated 09.05.2013

As it was mentioned in the previous analysis of this currency pair dated 19.04.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened.Buyers could reach to the highest price of 1.46562 which is recorded as a peak price. As it is obvious in the picture below, price has been stopped by reaching to the descending trend line made of 4 peak prices and also resistance edge of uptrend channel and by creating a top price it has descended.

According to the formed movements in daily chart of this currency pair, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between bottom price of 1.39621 and the top price of 1.46562 that by completion of the D point in this pattern, there is warning for descending of the price and changing price direction. Right now the first warning for descending of the price (in the same direction with harmonic pattern’s signal) is breaking of the supportive level of 1.45073.
According to this point in long term interval, there is a potential for ascending of the price in this currency pair. Sell signals in midterm time frames are temporary and risky. By breaking of the descending trend line and technical AB=CD pattern, there is a warning for more ascend in this currency pair.

FxGlory
2013.05.09

 

[FXGLORY]

Technical analysis of USD/CAD dated 10.05.2013

USD/CAD to the recent price rise, by reaching to the downtrend line specified in the picture below is disable to ascend more and by creating a top price below that started to decline and has fallen. The mentioned down trend line is one of the important resistance levels on long term price range. The sellers were successful in reaching to the lowest price of 1.00122. Price has been stopped from more descend during a downfall by reaching to the uptrend line (consisting of two bottom prices) and Fibonacci support level of 127.2 that shows exit of sellers and their use of these levels for their trades’ purposes . This price level is recorded as a bottom price by an uptrend candle and it prepares the field for the possible ascending of the price during the next days.

According to the formed movements in the chart, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between top price of 1.03392 and the bottom price of 1.00122 that warns about the potential of ascending from the endpoint of this pattern. Stoch indicator in daily time frame is in saturation sell area and also it is in divergence mode with the price chart that confirms the created bottom price on the uptrend line and warns about the potential of changing price direction. Generally according to the mentioned signs, until the bottom price of 1.00122 is preserved, the price will have the potential for increasing.

FxGlory
2013.05.10

 

[FXGLORY]

Technical analysis of USD/JPY dated 13.05.2013

USD /JPY pair from the end of 2012 till now was in a strong and without reformation uptrend that shows buyers determination to achieve predetermined targets. Price during the recent uptrend was able to record the highest price of 102.135 which is possible to convert to a top price in 4H time frame. Some buyers at the end of the previous week tried to cash their trades by approaching to the round resistance level of 102.000 that caused the formation of Shooting Star candlestick pattern under this important resistance level. The mentioned pattern warns about the potential for formation of a top price and the failure of buyers in reaching to the higher prices that for the confirmation it needs closing of a descending candle.

As it is obvious in the picture below,there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between the bottom price of 95.801 and the top price of 102.135 that warns changing price direction from D point. RSI indicator is in saturation buy area and confirms the harmonic D point and potential for descending of the price. One of the important warnings for descending of the price is formation of the candlestick pattern in daily time frame or closing of a descending candle which prepares the field for descending of the price.

FxGlory
2013.05.13

 

[FXGLORY]

Technical analysis of EUR/CAD dated 14.05.2013

EUR/CAD during the recent uptrend by reaching to the resistance range, obvious in the picture below, in 17.04.2013 after testing of the descending trend line has been fallen down. Sellers during this downtrend were successful in achieving the lowest level of 1.30647 that by passing of the price from this level, there is the potential for more descend and moving toward the important supportive level of 1.29456.right now the price during the downfall by reaching to the ascending trend line ( made of two bottom prices ) has been stooped from more descending and if the ascending candle closes at the end of today, the price level of 1.30647 will record as a bottom price that warns about changing price direction.

As it is obvious in the chart below, Stoch indicator is in saturation sell area and also in divergence mode with the price chart that warns about changing price direction during the next candles and confirms the third point of this ascending trend line. The first warning for ascending of the price is breaking of the 1.31442 level and then by passing of the downtrend channel. According to the current situation until the ascending trend line is preserved, there is a potential for ascending of the price toward the descending trend line.

FxGlory
2013.05.14

 

[FXGLORY]

Technical analysis of AUD/NZD dated 15.05.2013

AUD/NZD has experienced a strong downtrend during the recent month that the sellers were successful in achieving the lowest price of 1.19493. price has been stopped from more descending by reaching to the supportive level made of two bottom prices and also the important round supportive level of 1.20000 ( sellers use this round level to exit their trades) and creating a bottom price. According to the formed movements in the chart, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between top price of 1.28260 and the bottom price of 1.19493 that warns about changing price direction from the D point of this pattern.

RSI indicator in daily time frame is in saturation sell area and also it is in divergence mode with the price chart that warns the potential for ascending of the price during the next candles. In weekly time frame the previous week candle was closed as a Doji candlestick pattern that shows the indecision for ascending or descending. If this pattern confirms, there will be the potential for changing price direction. Also Stoch indicator in this time frame is in saturation sell area and warns the ascending of the price according to the next cycle. The first important warning for ascending of the price according to the technical signs is breaking of the resistance level 1.20855. Generally until the bottom price of 1.19493 is preserved, the price has the potential for increase and ascends.

FxGlory
2013.05.15

 

[FXGLORY]

Technical analysis of CHF/JPY dated 16.05.2013

CHF/JPY since 25.07.2012 till now had a consistent uptrend that by recent ascending this currency pair is in one of the highest price levels on its own history. Buyers were successful in achieving the highest level of 107.416 and this level is recorded as a top price by the recent descends. In long term intervals (in monthly time frame) price has been stopped from more ascend by reaching to the important resistance line (made of three peak prices) and by the buyers’ doubt and exit of their trades, the price consistency for ascending has been disappeared. As it is obvious in the picture below, there is a butterfly harmonic pattern between the bottom price of 97.440 and top price of 107.416 that warns the price downfall from the D point of this pattern and has been prevented from more increase till now.

As it is obvious in the picture below, in 14th day by creating a peak price of 106.604 (the third point of descending trend line) there is a warning for descending of the price to the ascending trend line and if this resistance line breaks, it will consider a warning for sellers to start an uptrend again. In daily time frame Stoch indicator is in saturation buy area and according to the possible next cycle warns about the potential of descending in the next candles. Also it confirms the mentioned top price. The first warning for descending of the price in current condition is breaking of the supportive level of 105.279.

FxGlory
2013.05.16

 

[FXGLORY]

Technical analysis of AUD/CAD dated 17.05.2013

AUD/CAD since the middle of last month has experienced a strong downtrend with no significant reformation that right now sellers were successful in achieving the lowest price level of 0.99480 during this downfall. Currently this price level in 1H time frame has been established as a bottom price by a bullish candle. As it is obvious in the picture below, price is in downtrend channel in 1H time frame that by coming across the supportive edge of this channel, it has been stopped from more descending and has created a bottom price on it that warns about price reformation.

RSI indicator in this time frame and in 4H time frame is in saturation sell area and in divergence mode with the price chart that warns about the potential of changing price direction and a price reformation. According to the recent downtrend, the price is in supportive range made of 4 bottom prices that warns about the potential of preventing of more descend. According to the issue that some sellers use the blue tape range to exit their trades (also because of the recent strong downtrend), there is the possibility for creating a bottom price and starting a small price reformation. Breaking the downtrend channel is one the warnings for changing price direction for sellers. Generally until the specified supportive range in daily time frame is preserved, the price will have the potential for reformation and ascending.

FxGlory
2013.05.17

 

[FXGLORY]

Technical analysis of CAD /JPY dated 20.05.2013

CAD /JPY pair from the middle of 2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 101.008. Price has been stopped from more ascend by reaching to the round resistance level of 101.00(the reason for some sellers to exit their trades) and by making a top price in daily time frame has started to reform. Right now the price level of 101.008 has recorded by the descending candles in daily time frame. According to the recent downtrend in the mentioned resistance level, there is a Hanging Man candlestick pattern in weekly time frame that warns about the potential of creating a top price and recessing of the buyers, also it confirms the round level of 101.00.

As it is obvious in the picture below, according to the formed movements in the chart there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 between the bottom price of 68.500 and top price of 101.008 that warns about descending of the price by completion of the D point. Also in CD wave of the mentioned pattern, there is another harmonic pattern (butterfly) that warns about the potential of changing price direction from the green area. According to the recent uptrend RSI indicator is in saturation buy area and confirms the mentioned top price and warns about the potential of descending of the price during the next candles. Generally until the resistance level of 101.008 is not broken, price has the potential for descending and reformation in this currency pair.

FxGlory
2013.05.20