ForexTechnical Analysis

[FXGLORY]

The USD/JPY currency pair 01.06.2012

The USD/JPY is right now is in a descending trend. This trend has been started since 21st of March and had some minor reform of the price since. Right now, this currency pair is located in some important areas of supportive levels which was not enough powerful to pass these areas and therefore, the sellers of this currency pair retreated right now.

As it is determined in the below picture, USD/JPY is located in a descending channel which is stopped on the supportive edge. The other supportive level which empowers the supportive edge of descending channel is the transformative level of the price. This transformative level consists of 3 supportive points and right now is playing the role of a supportive level.The price is in saturation sell form in the 4h time frame and RSI indicator also formed a bottom price and has enough potential to start the ascend movement. Therefore, we can predict that until when the mentioned supportive levels are not broken, the price is able to ascend and reform its previous trend.

The most important supportive and resistance level:

R1: 79.000
S1: 78.230

Written by the technical team of FxGlory Brokerage

 

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GBP/ USD 06.04.2012
Reform or ascend of the price or the continuation of descending trend !

The GBP/USD currency pair formed a top price on 30th of April and then started its falling process from there which this falling was without any reform in the daily time frame. Right now, this currency pair is stopped by the important supportive lines and levels and the formation of a candle with a bottom shadow confirms that too. The blue tape in the picture number one consists of some supportive levels from different years. The oldest supportive level belongs to 2010.

Right now, the price in the daily time frame is located in saturation of sell and the stoch indicator confirms it. Also, the price is in the divergence mode, which issues the warning of the reversal of the price.

In the picture number 2 and in the weekly time frame the price is located on the ascending trend’s line. The first bottom price of it is formed in 2009 and the second bottom price is formed in 2010. This is the first test of this supportive line and until when it is not broken; we can expect that the price will ascend from the third point of the trend line.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of AUD/USD 05.06.2012

AUD/USD currency pair formed daily hammer candle pattern in the beginning days of the June and also issued a bottom price for technical analyzers. The formation of these two hammer patterns empowered the possibility of the reformation of the prices and stop of more descend, after the severe recent descending trend. To confirm this possibility, we need the formation of an ascending candle.

The formed bottom price is in the area of the supportive levels which the seller should have enough power to break it and pass it which is determined with a green tape in the picture. Right now, the price ascended and moved toward the middle line and reached it, after reaching the lower edge of Andrews Pitchfork pattern which has a supporting role.

The RSI indicator shows that the price is in the saturation sell area and has got a good potential for an ascending movement. Also, the price is in divergence mode with this indicator. Therefore, the warning of changing of the movement between the indicator and price is issued. Until when, the green tape is not broken we can expect the reform of the price and ascend of the AUD/USD

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of USD/CHF 06.06.2012

The USD/CHF currency pair started falling after recording the 0.97698 in its ascending trend. By closing the candle of first of June and by considering the previous candles, the currency pair formed a reversal pattern of Evening Star. This pattern indicates that the ascending trend is stopped and the trend is changing from ascending to descending, which until now, it prevents more ascend in the price.

The price was stopped on the price areas of 0.95970 and 0.95733 in the descending trend. The reason of this pause is the presence of an important supportive area which prevent more descend of the price which you can see this position in the daily frame well. This supportive level is influencing the price, and until when the price does not pass this level, we cannot expect the reversal trend and ascend of the price.

You can see the price in an ascending channel, which has been a good clue for prediction of the price. Right now, it seems that, this channel is broken. When the price passed the blue supportive line again, it returns to the ascending channel. This supportive line plays the role of a resistance line and leads the price to the lower part of the chart.

Written by the technical team of FxGloryBrokergae

 

[FXGLORY]

Technical analysis of GBP/USD on 06.07.2012

The GBP/USD starts its severe falling from 30th of April. When the price reached the important area of supportive levels, the falling became weaker and it was stopped on first of June which we talked about it on 4th of June. You can see that technical analysis here

As we told in our previous analysis we mentioned that there is the possibility of the reform and ascend of the price on 4th of June and interestingly the price moved according to the theory of reform and ascend of the price. Right now, the price is closed above the average of the movements of 5 days in the daily time frame and there is a good potential of ascend of the price.

Right now, the price is in the resistance of 23.6 Fibonacci which is formed from the falling which starts from 30th of April to 1st of June. This stop of the price is evident in the 4h time frame. All the candle stick patterns in the 4h time frame confirm that the price is reacting to theresistance level of 23.6 Fibonacci which is issuing the warning of a price top and falling of the price.

Right now, the sellers prefer that the price starts its falling trend from this top price and also the Stoch indicator confirm it. The price is now located in the saturation buy area. The price shows a potential of a descending trend in the 4h time frame which is very dangerous for the buyers. If the resistances level of 23.6 breaks, it is the sign of more reforms and ascend of the GBP/USD currency pair.

Written by the technical team of FxGloryBrokergae

 

[FXGLORY]

Technical analysis of the GBP/CHF 08.06.2012

The GBP/CHF currency pair started falling and reforming of the price during its ascending trend from the bottom price of 08.10.2011 and after reaching the 1.51000. One of the main reasons of the stopping of the price in this level is the presence of a transformative level during the ascending trend of the price. This transformative level is from 2008 and now plays the role of resistance level. You can see this transformative level in the GBP/CHF weekly chart. Also, it is necessary to mention that, the supportive level of 1.51000 is considered a resistance level too, because of it a simple number.

The prices had stopped from more ascends when it reached the resistance level. Considering the Stoch indicator, there is a good potential of descending trend during the next weeks and until when this resistance level is not broken.

However, in the daily time frame we see another situation. The blue ascending trend’s line, which played its role very well, was broken and moved toward the green ascending trend’s line. At this time, the price has a good potential for ascend from the fourth point of the ascending trend’s line. In the first stage, it moves toward the red descending channel and in the next level moves toward the green resistance line. Until when, the mentioned bottom price is not broken, we can hope ascend of the GBP/CHF currency pair.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of GBP /USD 06.11.2012

The GBP /USD currency pair is in an ascending trend right now. This trend has started from the green tape which consists of several supportive levels. The currency pair was stopped and started falling when it reached the transformative level during the ascending trend and reforming of the previous movement. This transformative level played the role of a resistance level.

Right now, this resistance level is one of the most resistance levels which the price is obliged to pass it to continue its ascending trend. The price is closed above the average movement of the past 5 days and until when the descending candle is not closed we cannot expect the ascending of the price and important reforms.

As we pointed out in the technical analysis of 06.04.2012, the price is making a third point in the ascending trend line. Right now, this bottom price is formed and there is a weekly ascending candle on the line too. Also, the Stoch indicator is in the saturation area of sell and there is agood potential for formation of an ascending cycle. Until when this ascending trend’s line is not broken, we can hope ascending of the price from the formed third point of ascending trend’s line.

The most important resistance level:


R1=1.55984

R2=1.58000

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of USD/JPY 06.12.2012

When the price touched the long term descending trend’s line on 15th and 21th of March, it was not able to pass the line. After this, the price started falling which you can see it in the picture. Descend of the prices continued until the transformative line and then it stopped there.

Right now, the descending trend’s line is broken in the daily time frame and the price top of 79.782 is registered and therefore, the warning of the formation of an ascending trend is issued.

There is the possibility of an ascend of the price by considering that an ascending candle is closed on the supportive line and the current ascending cycle of Stoch indicator and the progress of the price toward the descending trend’s line in the weekly chart.

You can see in the 1 and 4 hour time frame a pennant pattern. This pattern is always a pattern which continues the trend and it forms when the market is resting. Right now, the price is falling after reaching the supportive line of the pennant pattern.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of CHF/JPY 06.13.2012

The CHF/JPY was stopped during its descending trend when it reached to the old ascending trend’s line on 1st of June. The bottom prices of this currency pair formed on 2008 and 2010. Right now, in the weekly time frame the price reacted to the ascending trend line very well and leaded the price to the upper parts of the chart. Also, the Stoch indicator is in the saturation sell area. Therefore, there is a good possibility of ascending of the price. The drawn green line in the chart is another supportive line which along with the ascending trend’s line played the role of a supportive level.

The price was stopped and formed a candle pattern of Shooting Star, when the price continued its ascend and reached the descending trend’s line, and issued a good warning for the buyers about formation of a top price and ascending trend. This descending trend has prevented the fall of the price for 6 times and played an important role. Considering the possibility of ascend and its potential in the weekly time frame, the price should break the descending tend line and pass it.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of AUD/USD 06.15.2012

In our previous technical analysis about AUD/USD on 06.05.2012, we predicted the warning of ascend of the price by considering the technical signs. The price was reached to the resistance Andrew’s Pitchfork pattern in its ascending trend, and therefore the price had a little descend. But, it passes this pattern because of the longing of the buy and locating in the saturation area of sell. Right now, the price is closed above the average of the last 5 days in the daily time frame. We cannot see a strong reason of the descending of the price.

Hypothetically, if the price continues its ascending trend, the most important resistance level will be the drawn descending trend’s line consists of A and C point and it is also the next target of resistance level. Right now, this currency pair is in the ascending trend. Considering the potential of ascend in the weekly time frame (right now, a bottom price is formed in the time frame and the Stoch indicator confirm this ascend) this potential is increasing.

FxGlory Broker
2012.06.15

 

[FXGLORY]

Technical analysis of gold on 06.18.2012

As we predicted by the technical signs in the charton 05.28.2012 that there was the possibility of ascend of the price and increase of the price, we see this ascend in the chart. the price started its ascend from the third bottom price of supportive level ( determined with the green color) and right now the price reached to the resistance level and descending trend’s line and stopped there. This resistance line has prevented the increase of the price twice and now is doing it for the third time. (By a close reviewing, we will understand that the main reason of this stop on 15th of May was a shorter descending line which consists of 2 top prices of 1st of May and 6th of June)

If the daily candle of today were closed in ascending trend, we would be considered as a broken line. But, if the daily candle were closed in a descending trend and under the line, there would form a top price on the line. Right now, the blue and green supportive levels are the most supportive level which prevent the fall of the price. On the other hand, the red and black lines are important resistance levels.If the price breaks the initial descending trend’s lines, we can expect the ascend of the price from the red descending trend’s line.

FxGlory Broker
2012.06.18

 

[FXGLORY]

Technical analysis of USD/CHF 06.19.2012

The USD/CHF currency pair after its ascending trend and registering the 0.97691 was stopped and started its fall. Right now, the price formed its descending channel pattern during its fall. You can see this pattern in the 4h time frame.

Right now, the price is stooped by reaching the descending trend’s line and formed a top price. It necessary to mention that, this resistance line has prevented ascend of the price twice. The Stoch indicator is in the saturation buy area and issued the warning of the formation of top price and the falling of the price. until, this formed top price is not broken, we can expect the descend of the price and decrease of the price in the USD/CHF chart.

FxGlory Broker
2012.06.19

 

[FXGLORY]

Technical analysis of AUDUSD 06.21.2012

We predicted the possibility of an ascending movement and locating in the determined target in our previous analysis on 06.15.2012. Right now, the price reached a very important resistance level, which is a transitive kind, and is stopped there and had a weak falling. The price is in saturation sell area in the daily time frame and also the Stoch indicator confirms this situation. Therefore, there is the possibility of forming top price and a fall in the price, however, the direction of the movement is not the same with the weekly time frame and therefore, the accuracy of this prediction is not confirmed.

The price is closed under the average of the moving of 5 days and right now is reached to the ascending line. This line plays the role of a supporting level for the price. The price should break this line to be able to continue its descending movement. This line is not an ideal supporting line by considering the steep slope of the ascending trend and the potential of a fall in the daily time frame. We expected the descend of the price and reform of the price by considering the daily time frame. Until the formed tip price is not broken, we cannot expect more reform in the price.

AUDUSD,Daily
AUDUSD,H4

FxGlory
2012.06.21

 

[FXGLORY]

Technical analysis of CHF/JPY 06.22.2012

As we predicted the possibility of the price and stop of the falling of the price on 06.13.2012, now you can see in the chart that the price has ascended. The price could not continue its ascending trend after recording the 84.597 and the Shooting Star candle pattern is formed in the daily time frame. In order to continue its ascending trend, the price should break this pattern and also it should pass the upper edge of the ascending channel in the 4h time frame.

The nearest supporting level for the price is 83.547 level and in the next level is the ascending trend line of the ascending channel which can prevent more ascend of the price. The Shooting Star cadle pattern is located on the descending trend’s line in the daily time frame and therefore issued the falling signal. If the daily candle did not close above the Shooting Star candle pattern, there would be the possibility of the descend from the third point of descending trend’s line.

FxGlory
2012.06.22

 

[FXGLORY]

Technical analysis of USD/JPY on 06.25.2012

The USD/JPY will ascend to the 79.773 after breaking the descending trend’s line in the daily time frame. And then again start its falling, however, finally, it will create a bottom price and ascend after facing the descending trend’s line which has the supportive role after breaking. Right now, as we mentioned before, by considering the weekly time frame the potential of an ascend is strengthen.

In the 4h time frame, after reaching the resistance level, the price is not able to ascend more and therefore, a top price is formed in these areas. Right now, the price is in the saturation buy situation, and RSI indicator confirms this idea too and issued the warning of the top price for falling of the price. Until the formed top price (determined by red color) is not broken, we can expect the decreasing of the price.

FxGlory
2012.06.25

 

[FXGLORY]

Technical analysis of Gold on 26.06.2012

Right now, the chart of gold has shown a fragile fall because of created top price of 1588.31 and we can notice the intention of descending movement in the 4h time frame by considering the top price, however, this idea is not valuable by considering the daily time frame and we can expect the break of the price. Now, the gold is located in the area of the supportive and resistance levels which prevents the increasing and decreasing of the price twice.

We have drawn these lines in the below picture. Considering the daily time frame, (ascending of the price from the fourth point of the ascending line and the ascending cycle of Stoch indicator) and the possible start of the ascending cycle of the price until when the blue ascending trend line is stable, we can expect the reaching and ascending of the price to the resistance line.

FxGlory
2012.06.26

 

[FXGLORY]

EUR/USD ascending or descending

The EUR/USD will stop the descending trend and start to ascend from 1 of Jun after its strong fall. This ascending and reformation of the price will continue to the 1.27418 (the price will be reformed for about 38.2) and finally will stop and start falling at the resistance level of 38.2 Fibonacci. As you can see in the below picture, Right now, the price has formed a candle with a long bottom shadow after reaching the supportive level.

This candle is the sign of defeat of the seller in order to get reach a lower price comparing to the May’s. The RSI indicator and the price are in the divergence mode and they issued the warning of a bottom price and ascend of the price. we can expect the ascend of the price until the formed bottom price is not broken. If the supportive level broke, the price would descend and reach the supportive level of 1st of June.

FxGlory
2012.06.27

 

[FXGLORY]

The currency pair of EUR/JPY will ascend to 101.609 and then will stop there after breaking and passing the descending trend line. The resistance level of 38.2 of Fibonacci is the reason of the stop of the price in that level. When the price breaks this descending trend and will back toward this line.

When the price reached there, it will stop there (supportive level) and ascend again which is a good opportunity (for buying and entrance to the ascending trend) for using this transformative line. Right now, this EUR/JPY has formed a bottom price in some areas of supportive level. Also, in the daily time frame, some candles with small bodies are formed on 26th and 27th which is the sign of buyers’ wait for lower price. Until when the formed bottom price of 98.773 is kept, we can expect ascend of the price in the chart.

FxGlory
2012.06.29