ForexTechnical Analysis

[FXGLORY]

Technical analysis of Gold dated 21.05.2013

Gold chart has been stopped from more ascending in late 2011 by reaching to the important psycho level (resistance) of 1900.00. Buyers by testing this psycho level have failed and eventually forced to retreat and abandon the market to the sellers. Right now price during the downfall from the mentioned top price till now has appeared as an ACD price reformation and has been stopped by coming across to the supportive edge of downtrend channel. During this downward and price reformation sellers were successful in achieving the lowest price of 1321.42 which is the next most important supportive level and if it breaks, the price finds the potential for descending to the supportive level of 1306.00.

As it is obvious in the picture below,there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between top price of 1921.89 and the bottom price of 1321.42 that warns about changing price direction from the D point of this pattern. In daily time frame, price created a bottom price on Fibonacci level of 88.6 and Stoch indicator is in saturation sell area that according to the next cycle , it warns about ascending of the price from the mentioned Fibonacci level during the next candles . The first warning for ascending will be breaking of 1399.38 resistance level (the highest price changes in previous day). Generally according to the technical signs in the price chart until the mentioned supportive levels are preserved, the price has the potential to increase and ascend.

FxGlory
2013.05.21

 

[FXGLORY]

Technical analysis of GBP/CHF dated 22.05.2013


As it was mentioned in the previous analysis of this currency pair dated 09.05.2013, because of potential for increasing of the price in long term time frames, the formed descending signal in the chart does not have high validity that finally the price was able to ascend and pass the mentioned resistance obstacles. Buyers were successful in achieving the highest price of 1.48144 and by the recent downfall it was recorded as a peak price. By breaking this resistance level, price will have the potential to increase in long term intervals.According to the formed price movement, there is AB=CD harmonic pattern with Non-ideal ratios of 78.6 and 161.8 between the bottom price of 1.39665 and top price of 1.48144 that warns about decreasing of the price from the D point of this pattern.

Stoch indicator in daily time frame is in divergence mode with the price chart that warns about the potential for descending of the price during the next candles and confirms the D point of harmonic pattern. As it was mentioned before , in long term intervals there is the potential for ascending and descending signals in daily time frames and lower ones is temporarily and unstable. Currently the first warning for descending of the price is breaking of the supportive level of 1.46082.

FxGlory
2013.05.22

 

[FXGLORY]

Technical analysis of AUD/USD dated 23.05.2013

AUD/USD since 11.04.2013 was in a strong and without reformation downtrend that shows the certainty of the sellers in achieving the predetermined goals. Sellers during this downtrend were successful in achieving the lowest price of 0.95928 that if it breaks, the price will find the potential in reaching to the other important supportive level of 0.95000. Price during the downfall by reaching to the supportive edge of downtrend channel also the supportive level of pivot 1 has been stopped from more descending and right now some of the sellers by reaching to these supportive levels started to cash their trades.

In 1H and 4H time frame, according to the recent movement price, there is a hammer candlestick pattern that warns about formation of a bottom price in this area and ascending of the price. RSI indicator in both mentioned time frames is in saturation sell area and warns about the potential for increasing of the price and changing price direction by the next cycle. Generally according to the current condition and recent downtrend, until the supportive level of 0.95928 is preserved, price has the potential for ascending and reformation in this currency pair.

FxGlory
2013.05.23

 

[FXGLORY]

Technical analysis of EUR/JPY dated 24.05.2013

EUR /JPY pair since 26.07.2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 133.753. As it was mentioned in one of the last year analysis of this currency pair dated 16.08.2012, according to the formed signs, there was the potential for ascending of the price in long term intervals which finally happened.Price during the uptrend by reaching to the important resistance level of number 1 monthly pivot and touching the Fibonacci resistance level of 50( from the top price of 169.860 to bottom price of 94.006) has been stopped from more ascends by creating a top price. In mentioned peak price (in daily time frame) there are two Shooting Star and Hanging Man candlestick pattern that warns about formation of a top price and descending of the price during the next days.

According to the formed price movement, there is butterfly harmonic pattern between the bottom price of 118.609 and top price of 133.753 that warns about changing price direction from the D point of this pattern.RSI indication in daily and weekly time frame is in saturation buy area and in divergence mode with the price chart that confirms the harmonic pattern and warns about changing price direction. Currently by breaking the supportive level of 129.933, there will be an important warning for descending of the price. Generally until the top price of 133.753 is preserved, there is a potential for descending and price reformation in this currency pair.

FxGlory
2013.05.24

 

[FXGLORY]

Technical analysis of silver dated 27.05.2013

Silver chart since the middle of 2011 till now was in a downtrend accompanied with price reformation that sellers were successful in achieving the lowest price of 20.19. By formation of hammer candlestick pattern on 20th day in daily time frame, there is a warning for the first failure of sellers in achieving lower prices and formation of a bottom price for increasing of the price in this area. After formation of the mentioned candlestick pattern, price is range which shows indecision market for ascending or descending. Right now the bottom price of 20.19 is recorded that there is a possibility for ascending of the price.

According to the formed movements in price chart, there is Crab harmonic pattern between the top price of 35.35 and the bottom price of 20.19 that warns about ascending of price from D point. RSI indicator in daily and weekly time frame is in saturation sell area ( also in divergence mode with the price chart in daily time frame ) and by the next cycle it confirms the harmonic D point and warns about the potential for ascending of price during the next candles in both time frame. If price rises and buyers success one of the price targets would be alterant level of 26.00. Generally according to the formed signs in price chart until the bottom price of 20.19 is preserved, price will have the potential for ascending and reformation.

FxGlory
2013.05.27

 

[FXGLORY]

Technical analysis of AUD/USD dated 28.05.2013

AUD/USD since 11.04.2013 till now was in a strong downtrend without a noticeable price reformation that sellers were successful in achieving the lowest price of 0.95909. Right now price has been stopped by reaching to the round level of 0.96000 and supportive levels’ range (made of 5 bottom prices dated back to 2010) and by making a bottom price had a little ascend. The bottom price of 0.95909 is recorded in 4H time frame , also in daily time frame it appeared by creating a Spinning top candlestick pattern which shows indecision market for ascending or descending and warns about the potential to stop declining of the price.

Stoch indicator in 4H time frame is in saturation sell area and also in divergence mode with the price chart which confirms the bottom price of 0.95920 and warns about changing price direction. The first warning for ascending and price reformation is breaking the descending trend line (made of 3 peak prices). Generally according t the formed signs in the price chart until the supportive level of 0.95909 is preserved , price has the potential for reformation in this currency pair.

FxGlory
2013.05.28

 

[Jhunaed islam]

I aloso think that technical analysis is most important for our.
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.

 

[FXGLORY]

Technical analysis of USD/CAD dated 29.05.2013

As it was mentioned in previous analysis of this currency pair dated 10.05.2013, according to the formed signs in the price chary, there was a potential for ascending which finally happened. Buyers were able to achieve the highest price of 1.04202 during this uptrend. Right now price by reaching the resistance line of monthly pivot one and also by creating a peak price in 4H time frame has been stopped from more ascend. By forming a Engulfing candlestick pattern in mentioned top price, there is a potential for creating a top price and ten descending.


As it is obvious in the picture below, between the bottom price of 1.02146 and top price of 1.04202, there is an AB=CD harmonic pattern with non-ideal ratios of 61.8 and 127.2 which warns about descending of the price from the D point of this pattern. RSI indicator is in saturation buy area and in divergence mode with the price chart warns about changing price direction during the next candles. As it was mentioned in previous analysis of this currency pair, according to the potential for ascending in long term intervals, the signals in time frames like 4H time frames are short and unstable. Currently until the mentioned top price is preserved, price has the potential for descending and if the resistance level of 1.04202 breaks, price will have the potential for ascending and reaching to the important resistance level of 1.04456.

FxGlory
2013.05.29

 

[FXGLORY]

Technical analysis of USD/JPY dated 30.05.2013

USD/JPY since 23.09.2012 till now was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 103.675. As it is obvious in the picture below, price has been stopped from more ascending by reaching to the resistance line of ( alterant level) made of two bottom prices and also Fibonacci resistance level of 38.2 and by closing the weakly candle as descending candle, the peak price of 103.675 has been recorded. Right now price in daily time frame and 4H time frame is closed under 5-day moving average and warns about descending of the price during the next candles.

According to the strong and consistent uptrend, Stoch indicator is in saturation buy area and in divergence mode with the price chart that confirms the created top price and warns about the potential of changing price direction. Currently breaking the supportive level of 100.657 is the first warning for descending of the price. Generally according to the technical signs in the price chart, until the top price of 103.675 is preserved; there is the potential for descending and price reformation in this currency pair.

FxGlory
2013.05.30

 

[FXGLORY]

Technical analysis of AUD/NZD dated 31.05.2013

As it was mentioned in previous technical analysis of this currency pair dated 15.05.2013 with breaking of the resistance level of 1.20885, there was the first warning for ascending of the price that finally because of the sell pressure, price was not successful in breaking the mentioned resistance level. Sellers during the recent descending trend were able to achieve the lowest price of 1.18139 which is the most important supportive level before the price. As it is obvious in the picture below between the top price of 1.28254 and bottom price of 1.18139, there is AB=CD harmonic pattern with the ratios of 76.4 and 161.8 that warns about the potential for ascending of the price.

RSI indicator is in saturation sell area in daily and weekly time frame that confirms the harmonic D point and warns about changing price direction during the next candles. Between 24th and 30th days according to the shape of candles in daily time frame, there is important Evening Star pattern with 3 stars (also formation of ideal hammer candlestick pattern that warns the failure of sellers in achieving to the lower prices) that warns about ascending of the price in this price range. Generally according to the formed signs in price chart, until the bottom price of 1.18139 is preserved; price will have the potential for increasing and ascend.

FxGlory
2013.05.31

 

[FXGLORY]

Technical analysis of NZD/USD dated 03.06.2013

As it was mentioned in previous analysis of this currency pair dated 15.04.2013, according to the formed signs in the price chary, there was a potential for descending of price which finally happened. Sellers were successful in achieving the lowest price of 0.79366 in this downtrend. In long term time frames like monthly and weekly, price is closed under 5 day moving average and according to the monthly chart condition, there is the potential for descending of the price in long term interval. Right now, price has been stopped from more descend by recording the bottom price of 0.79366 that shows sellers’ retreat and cashing of their trades.

According to the formed price movements, there is AB=CD harmonic pattern with idea ratios of 76.4 and 127.2 between the top price of 0.82120 and bottom price of 0.79366 that warns about ascending of the price from the D point of this pattern. Stoch indicator in 4H time frame is in saturation sell area and confirms the harmonic D point with its possible ascending cycle and warns about the potential of changing price direction during the next candles. Generally according to the formed signs in price chart until the mentioned bottom price is preserved, price will have the potential for reformation to the resistance level of 0.80039 and in the next stage to the descending trend line.

FxGlory
2013.06.03

 

[FXGLORY]

Technical analysis of GBP/NZD dated 04.06.2013

As it was mentioned in previous analysis of this currency pair dated 03.05.2013, according to the formed signs in the price chart, there was a potential for ascending of price which finally happened. Buyers were able to achieve the highest price of 1.91605 during this uptrend. Currently In long term time frames like monthly, weekly and daily, price is above 5 day moving average that warns the potential of ascending during the next candles.

According to the potential of ascending in long term interval in this currency pair, likely descending signals in short term time frames will be temporary and unstable. According to the picture below, price with forming AB=CD harmonic pattern starts to ascend and buyers face a notable price increase. Currently price has been stopped by reaching to the resistance line (the alterant level made of two bottom prices) and with creating a bearish candle in daily time frame, points to buyers’ trades getting cash in this area. With breaking the resistance level of 1.91605, there is the possibility for ascending of the price to the descending trend line or weekly pivot 1 level.

FxGlory
2013.06.04

 

[FXGLORY]

Technical analysis of GBP/JPY dated 05.06.2013

GBP/JPY was in a strong and consistent uptrend during the recent months that buyers were successful in achieving the highest price of 156.658. According to the chart condition in long term time frames like monthly and weekly, there is the potential of ascending in long term interval of this currency pair and the most important buyers’ midterm goal is achieving the top price of 163.127 ( belong to 2009 ). There is a Hanging Man candlestick pattern in top price of 156.658 that warns the potential for formation of a successful top price and Vulnerability of ascending trend for buyers. With closing of the next bearish candle, this signal is fixed.

According to the formed price movements in the chart, there is a butterfly harmonic pattern between the bottom price of 116.905 and top price of 156.658 that warns about descending of the price with completion of this pattern ending point. Stoch indicator in weekly time frame is in saturation buy area and warns about descending of price according to the next cycle during the next weeks. According to the current condition and ascending again from the bottom price of 151.824, the first important warning for descending is breaking of this supportive level. Generally according to the formed signs in price chart, until the top price of 156.658 is preserved, there is a potential for reformation and descending of the price in this currency pair.

FxGlory
2013.06.05

 

[FXGLORY]

Technical analysis of GBP/CHF dated 06.06.2013


As it was mentioned in previous analysis of this currency pair dated 22.05.2013 , according to the formed signs in the price chart, there was a potential for descending of price which finally happened.Sellers were successful in achieving the lowest price of 1.44549 in this downtrend. According to the continues formation of Spinning top candlestick pattern in recent days, it warns about indecision traders and inability of sellers in achieving the lower price in this currency pair.as it is obvious in the picture below , price has been stopped from more descending with reaching to the supportive level (alterant) and has formed a bottom price.

Stoch indicator is in saturation sell area in daily time frame and it warns the potential for ascending of the price according to the next cycle. The first important warning for ascending of price is breaking of the 1.45790 resistance level(the highest level of price changes in previous day). The first price target of buyers is long term descending trend line in this currency pair. Generally until the bottom price of 1.44549 is preserved, the price has the potential for ascending in this currency pair.

FxGlory
2013.06.06

 

[FXGLORY]

Technical analysis of EUR/CAD dated 07.06.2013

As it was mentioned in the previous analysis of this currency pair dated 14.05.2013 , according to the technical signs in the chart, there was the potential for ascending of price that finally happened. Price has increased form the third point of ascending trend line and buyers were successful in achieving the highest price level of 1.36318. Currently price in long term time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair.

As it is obvious in the picture below, price is in an uptrend channel and breaking of the supportive line of this pattern will be the first warning for a price reformation. Right now the price has reached to the resistance level of weekly Pivot 2 and with forming Shooting Star candlestick pattern warns about formation of a top price (need to be confirmed by a bearish candle). According to the formed price movements in 4H time frame, RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for price reformation.As it was mentioned in the previous analysis of this currency pair, according to the ascending of price in long term interval, the signals of short term time frames are possible to be unstable and temporary.

FxGlory
2013.06.07

 

[FXGLORY]

Technical analysis of EUR/AUD dated 10.06.2013

As it was mentioned in the previous analysis of this currency pair dated 15.01.2013 , according to the technical signs in the chart, there was the potential for ascending of price that finally happened. Buyers were successful in achieving the highest price level of 1.40431in this uptrend. Currently price in long term time frames such as monthly and weekly time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair. Right now price is near the round resistance level of 1.40000 which is one of the buyers price target in this uptrend and if it breaks in daily time frame, price will have the potential of reaching to the resistance level of 1.41400.

According to the formed price movements in 4H time frame, RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for formation of a top price and changing price direction during the next candles. If the supportive level of 1.39717 breaks, there will be the first warning for price reformation in this currency pair and if the price decrease, one of the price targets will be the weekly pivot level which is obvious in the picture below.

FxGlory
2013.06.10

 

[FXGLORY]

Technical analysis of NZD/USD dated 11.06.2013

As it was mentioned in previous analysis of this currency pair dated 03.06.2013, according to the formed signs in the price chart, there was a potential for ascending of price to the specified resistance levels which finally happened and it touched those specified targets. Because of sell pressure and strong downtrend, ascending of price was not stable and sellers could achieve the lowest price of 0.78191. Currently price in long term time frames such as monthly and weekly is under 5-day moving average and warns more descending in long term interval.

As it is obvious in the picture below, right now price during the downtrend has reached to the ascending trend line (made of 3 bottom prices) and if this supportive line breaks, price will have the potential of reaching to the important supportive level of 0.77300. According to the formed price movements in daily time frame, there is a butterfly harmonic pattern between the top price of 0.86738 and the recent descending that by completing the D point of this pattern (formation of an ascending candlestick pattern or a bullish candle); there is a warning about stopping of descending of the price. There is no clear sign for ascending of the price and the least sign for price reformation and increasing of the price is formation of a bottom price in 4H time frame.

FxGlory
2013.06.11

 

[FXGLORY]

Technical analysis of AUD/USD dated 12.06.2013

AUD/USD since 11.04.2013 had a strong and without reformation downtrend, that sellers during this downtrend were successful in achieving the lowest price of 0.93248.Price by reaching to the supportive level (alterant) and expansion Fibonacci range of 261.8 (ABC pattern) stopped from more descend and with forming a bottom price prepared a field for ascending. There is an AB=CD harmonic pattern with the ratios of 61.8 and 127.2 between the top price of 0.97909 and the bottom price of 0.93248 that prepared a field for ascending.

Currently the mentioned bottom price is recorded in daily time frame and with formation of the hammer candlestick pattern that shows sellers failure in achieving the lower price warns about changing trend direction. RSI indicator is in saturation sell area in daily time frame and in divergence mode with the price chart that confirms the bottom price of 0.93248warns about changing trend direction. Generally until the supportive level of 0.93248 is preserved , the price will have the potential for reformation of descending trend and reaching to the weekly pivot 1 resistance level.

FxGlory
2013.06.12

 

[FXGLORY]

Technical analysis of GBP/USD dated 13.06.2013


GBP/USD from the bottom price of 1.50049 till now was in strong and consistent uptrend that buyers could achieve the highest price level of 1.56994.currently the price in weekly and daily time frame is above 5-day moving average and warns the potential of ascending in long period of time in this currency pair. Price by reaching to the round resistance level of 1.57000 and the resistance edge of uptrend channel has stopped from more ascend that shows buyers used this price level to exit their trades. Formation of Shooting Star and Hanging Man candlestick patterns with thin body in green area shows indecision market and vulnerability of ascending trend.

According to the formed price movements, RSI indicator is in saturation buy area and in divergence mode with the price chart that confirms the top price of 1.56994 and warns about changing price direction. One of the important signs for descending is breaking of ascending trend line (made of 3 bottom prices). Generally according to the current situation in 4H time frame until the top price of 1.56994 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.

FxGlory
2013.06.13

 

[FXGLORY]

Technical analysis of USD/CHF dated 14.06.2013


USD/CHF from the top price of 0.98380 till now was in a downtrend that sellers were able to achieve the lowest price of 0.91308. As it is obvious in the picture below, price with formation of AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 has prepared the field for descending of the price from top price of 0.98380 that finally happened. Currently price with teaching to the ascending trend line ( made of 2 bottom prices) has been stopped from more descend and with forming of the Spinning Top candlestick pattern on yesterday, warns the possibility of formation of a bottom price which need the confirmation by the next bullish candle.

Formation of the lower long shadow in the last day candle shows the failure of sellers in reaching to the lower prices. Stoch indicator is in saturation buy area and in divergence mode with the price chart in daily time frame that confirms the price level of 0.91308 and warns changing price direction during the next candles. The first warning for ascending of price is breaking of the resistance level (the yesterday highest price change) 0.92577. Generally according to the current situation of the price chart in daily time frame until the third point of ascending trend line is preserved, the price will have the potential to ascend and pass the mentioned bottom price.

FxGlory
2013.06.14