ForexTechnical Analysis

[FXGLORY]

EUR/USD ascending or descending

As we mentioned about the possibility of ascend of the price in our previous technical analysis on 06.27.2012, you can notice that the price has ascended. In a long term period and range we expected ascending and increasing of the price by considering the monthly and weekly time frame. In the monthly time frame the price returned to the higher areas of the chart by touching a supporting line which belongs to 2008. Because this supporting line was successful in increasing the price in 2010, thus, there is the possibility of a successful ascending from this supportive line again.

In the weekly time frame, the price is located in the blue line of supporting line which was formed from the bottom price. Generally, the price is going to reach to the red supportive line and also the Stoch indicator is in the ascending cycle and therefore we can expect ascend of the price.

Right now, the price has fallen from the 1.26915 top price (due to the strong and quick ascend, the falling was predictable). Now, the price is between the supportive and resistance lines, as you can see in the below picture, in the 1h timeframe. To continue its ascend; the price should break the red resistance line. Until when the green supportive area is untouched and safe, we can expect ascend of the price and reaching the 1.26915 top price in the first phase.

FxGlory
2012.07.03

 

[FXGLORY]

Technical analysis of EUR/CAD

The EUR/CAD is in the important supporting area after its descending in the recent years. The sellers should have enough power to pass these areas. Right now, the price is located on a supportive line which its bottom price is formed in 2011. This level has prevented the falling of the price on 05.15.2012.

Right now, in the weekly time frame and by considering the price chart you can see the Bullish Wedge pattern which is located on the supportive line of 2011. This patter is one of the most important reversal pattern of the price and indicates the ascend of the price and the end of the falling process. Until the supportive level of 2011 is not broken, we can expect the ascend of the price in the EUR/CAD chart.

2012.07.04
FxGlory

 

[FXGLORY]

Technical analysis of EUR/AUD on 07.05.2012

The EUR/AUD is in a descending situation and we do not see any sign of reformation and return of the price. Right now, the price is located in the lowest level of itself in the past 20 years. This level belongs to the 07.02.2012. Right now, the price is trying to the green supportive level to reform itself and then start its ascending movement, but because of the pressure of the selling and powerful descending trend, this try has not been successful yet. Right now, the rice is located in the saturation area of sell. In case of keeping the supportive areas, we can expect the reform of the price.

FxGlory
2012.07.05

 

[FXGLORY]

Technical analysis of NZDUSD

The NZDUSD currency pair ascended from the 0.74570 bottom price and it is stopped after recording the 0.80742 level and reaching the descending trend line and resistance levels. Right now, two important resistance levels are preventing ascending of the price. These two levels are:

1. Transformative level, which consists of two bottom price, and is playing the role of resistance level.
   
2. Descending trend line which is consists of two top prices. in case of falling of the price the current top price will form the third point of the descending trend line in the daily time frame.

The price is located in the saturation sell area and the RSI indicator confirms this state. Also by considering the recent peaks of the price chart and divergence indicator, we notice that they are issuing the warning of the changing in the trend of the market.If the descending candle were closed today, we can hope more ascend of the price. Generally, if the current peak of the price is safe, we can expect more descend of the price and its reform in this chart.

FxGlory
2012.07.06

 

[FXGLORY]

Technical analysis of AUD/USD 07.09.2012

Right now, this currency pair is located in a top price in the daily time frame. The price reordered the 1.03267 level through its previous ascending trend. Currently, the most important resistance level for the price ( all the supportive and resistance level which have round number are important) is the 1.03000 level. This resistance level could influence the price if the ascending trend continued. The buyers can use this level to exit their trades for in short period of time.

Right now, the price is closed under the average of the last 5 days movement. The price and the RSI indicator are in divergence situation. This situation issued the warning of the falling of the price. Noticing the second current peak of the price which recorded the resistance level of 1.03267, we will see 4 daily candles with small bodies which confirm the tiredness and weakness of the buyer for attempting to reach a higher price than May’s.

Right now, the price has reached the ascending trend line during its descending trend. This line has been successful for 3 times in 4h time frame and the price could not pass it. By considering the intense pressure of selling in the daily time frame and closing of the descending candle in the daily time frame, we can expect the possibility of the breaking of the ascending trend’s line and passing of the price from this line.

FxGlory
2012.07.09

 

[FXGLORY]

Technical analysis of USD/CAD 07.10.2012

The USD/CAD stopped when it reached the drawn red resistance line. It was not able to pass the lien and started its falling. This resistance line is taken from the supportive blue line which has prevented the falling of the price three times. This currency pair is located in the descending channel. If the price ascended, this line would be the next most important resistance line of the channel. Right now, the price has formed the 1.01869 bottom price and the buyers are trying to take the 1.02196 resistance level.

FxGlory
2012.07.10

 

[FXGLORY]

Gold between the Supportive and resistance lines

Right now, the gold is located between the important supportive and resistance areas. These levels had leaded the price to the ascending and descending trends several times. Right now, as you can see in the below picture, the price started its falling and it has been stopped after reaching the descending trend’s line on 3rd of July. After reaching, the price formed the third point of the descending trend and during its return the price has been stopped by reaching the blue supportive lien. Right now, the formed bottom price is stable and the buyers hope for ascending of the price, reaching and passing the descending trend’s line.

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FxGlory
2012.07.11

 

[FXGLORY]

Technical analysis of GBP/CHF 07.12.2012

Right now, the ascending trend of GBP/CHF currency pair has been stopped and it is not able to reach the higher prices. The price has recorded the 1.52538 level during its ascending trend. The shape of candle is closed like Doji Pattern because of the movement of the price in last day. This candle issues the warning of the formation of atop price. this pattern is located on the red line of resistance trend which consists of two resistance points which right now is preventing the ascend of the price.

Also, the Stoch indicator is located in the saturation buy are and show the potential of falling of the price.

An ideal harmonic pattern AB=CD

In the daily time frame we can find the harmonic pattern of AB=CD in an ideal situation which has the ratios of 61.8=161.8 and right now, is issuing the warning of falling of the price. By the way, until when the formed peak of the price is maintained, we can expect the falling and reform of the price.

FxGlory
2012.07.12

 

[FXGLORY]

Technical analysis of USD/CHF 07.16.2012

The USD/CHF has registered the 0.98720 level during its ascending process and right now this level is the nearest and the most important resistance level in front of the currency pair. Currently the ascending trend is stopped and there is a top price. The formed peak of the price is potential for a descending trend and reform of the price. Stoch indicator also is located in the saturation buy are and by considering the next cycle is issuing the warning of falling of the price.

In the daily time frame we are noticing the butterfly pattern which is complete now and is issuing the warning of the falling of the price. Mostly, this pattern is formed at the bottom of the price trends and usually they are considered as the begging of a reformation process. Considering the formed top price, until this peak of the price is not broken, we can expect descend and falling of the price.

2012.07.16
FxGlory

 

[FXGLORY]

Technical analysis of EUR/JPY 07.18.2012

After recording the 96.154 level during the descending trend, the falling movement of the EUR/JPY will be stopped and will form a bottom price. The current bottom price will be formed on the transformative line (which has been descending trend line). This bottom price consists of three resistance points and also two supportive bottoms. Right now, this supportive bottom is supporting the 96.154 level.

Right now, in the daily time frame, an ascending harmonic pattern of Bat has been formed due to the movement of the price in the chart. This pattern is issuing the warning of starting of an ascending trend and finish of the falling of the price. Also, Stoch indicator is located in the saturation area of sell and is confirming the ideal harmonic by considering the next cycle.

By considering the formed technical pattern, we can expect ascend and increase of the price until point D is untouched.

FxGlory
2012.07.18

 

[FXGLORY]

Technical analysis of EUR/USD 19.07.2012

Right now, the EUR/USD is located in the areas between the supportive and resistance lines and it recorded the 1.22959 level during its last ascend. Formation of this top price is caused by the descending trend line of the two previous top prices. Right now, in the daily time frame, a bottom price is formed on 12th and 13th of July due to the intense falling of this currency pair. These bottom prices issue the possibility of ascending in the price for the buyers as far as they are safe. The two drawn lines in the below chart can continue the trend if they broke.

FxGlory
2012.07.19

 

[FXGLORY]

Technical analysis of USD/CAD 07.20.2012

USD/CAD started its falling after recording the 1.04447 level and was not able to continue its ascending trend. Right now, in the recent falls, this currency pair is located in a descending channel which you can see in the below picture. Also, we can see a Andrew’s Pitchfork pattern during the descending trend which has been acting good since 12th of July and the price has fallen. (The price has been stopped by facing the resistance edge of fork pattern and it was expected that a top price has been formed in this area).

Now, the price has been faced with the supportive edge of the descending channel and therefore has formed a bottom price. This bottom price has recorded the 1.00634 level. Also, RSA indicator is in the sell saturation area and we can expect the formation of a bottom price and after that ascend of the price. Right now, the price is not able for more descending and therefore, has formed a bottom price and as far as that, this bottom price is exists, we can expect the reform of previous trend in this chart.

FxGlory
2012.07.20

 

[FXGLORY]

Technical analysis of AUD/USD 07.23.2012

The AUD/USD has recorded the 1.04429 level as the highest resistance level since its ascending trend on 06.01.2012. There is a resistance area in this level which consists of two top prices. These top prices prevented more ascend of the price which is indicated by the red line in the below picture.

Right now, the price has formed a top price on the resistance line and the price started falling. If the falling of the price continues the most important supportive level will be the blue supportive line which consists of four bottom price. Also, the Stoch indicator is increasing the possibility of descend of the price by stabling its position in the saturation buy area and its current signal. Considering the daily time frame and closure of the descending candle in the mentioned top price, we can expect descend of the price. Until the formed top price on the red resistance level is maintained, there is the possibility of descend of the price.

FxGlory
2012.07.23

 

[FXGLORY]

Technical analysis of EUR/GBP 07.27.2012

The EUR/GBP has been in descending trend since 07.03.2011. Since the begging of descending trend, there are just some small reforms and ascend of the price which shows the power of descending trend.

Right now, the price is stopped after reaching the supportive line of the channel. By reaching the supportive line the price has formed a bottom price and therefore a small ascend in the price. currently, the price is closed above the average of last 5 days in the daily time frame, and we expect the ascend of the price. Also, by locating in the saturation sell area, the RSA indicator increase the possibility of ascend of the price in this chart. if the current bottom price maintained its current situation, we can expect the ascend of the price to the transformative level, in the first step, and then reaching the resistance line of channel. The main warning of ascend will be issued when the descending trend’s line is broken and the price passed it.

FxGlory
2012.07.27

 

[FXGLORY]

Technical analysis of EUR/AUD 07.30.2012

The EUR/AUD is standing in the lowest price of the past 20 years. It did not have any ascend or any remarkable reform since 12.01.2008. Right now, this currency pair has the lowest price and also it has broken and passed all of supporting lines since 2008. Currently the descending trend of the price has been stopped in the weekly time frame.

You can see that the Inverted Hammer candle stick pattern is formed because of this reason. This is the first ascending and reforming candle since 05.21.2012 and before this candle the price has just descending movements. RSA indicator is located in the saturation sell area and by considering the next signal we can expect ascend of the price.

As you can see in the below picture the blue supporting line consists of two bottom price. Right now, this is the only supporting line in front of the price which prevents more descend of the price. Generally, considering the intense selling situation in recent weeks and market saturation and also, the formation of the 1.16932, we can expect the reform of the price and its ascend as far as remaining the 1.16932 level.

FxGlory
2012.07.30

 

[FXGLORY]

Technical analysis of USD/JPY 07.31.2012

The USD/JPY has been in a descending trend and has registered the lowest price, 77.942, during the recent days. As you can see in the below picture, 77.942 bottom price has formed after reaching the price to the lower edge of descending channel (supporting line). This bottom price prevented more descending of the price and help to price to ascend.

Right now, this currency pair is located in a smaller ascending channel which prevents the more descending of the price after reaching of the price to its supporting edge ( descending trend line consists of 5 supporting points).The bottom price of 78.092 is stable on the lower edge of the channel. If this bottom price is maintained, we can expect the reaching of the price to the resistance line of ascending channel.

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FxGlory
2012.07.31

 

[FXGLORY]

Technical analysis CHF/JPY

In the recent months, the CHF/JPY has been in a descending trend. As you can see in the below picture, after reaching the ascending trend line, the descending trend of the price has been stopped and the bottom price of 78.361 has been formed. The ascending trend’s line consists of two bottom prices which have been formed in 2010 and 2008 and right now, it is considered as the most important supporting level for the price.The price is located in the saturation sell area. If the mentioned bottom price maintained, the possibility of ascend and reform of the price from the third point of ascending trend’s line would increase.

In the daily time frame, the price has ascended from the formed bottom price, 78.361, of the ascending trend’s line and it was stopped by reaching the red descending trend’s line. However, due to closing of the ascending candle in the last week, and possibility of ascend of the price from ascending trend’s line the price has returned to the descending trend line.Right now, in the daily time frame, by considering the recent movements of the price charts and indicator of MACD we can notice that they are in a divergence mode which issues the warning of formation of a bottom price and ascend of the price. To start ascending and reforming of the price, the price should break descending trend’s line and pass it.

FxGlory
2012.08.01

 

[FXGLORY]

Technical analysis of AUD/USD 08.02.2012

Right now, this currency pair is in an ascending trend and in the daily time frame we can see the ascending channel pattern. As we predicted in the technical analysis of 07.23.2012 there was the possibility of descend and fall of the price. As you can see this descend has happened and it is moving toward the descending trend’s line. By reaching the supporting line the price will not be able to pass it and therefore it will form a bottom price and ascend toward the resistance line.



Right now, the price has formed for the fourth time a top price on the resistance line, and registered the 1.03404 level. In the top price, a Doji pattern has formed which indicates that a top price will form for descend of the price. Likewise, the previous technical analysis the Stoch indicator is showing the next cycle as a descending cycle and is issuing the warning of fall of the price. Generally, as the formed top price is maintained, there is the possibility of descend of the price.

In the weekly time frame, there is not any sign of descend of the price. also, the price is intended to reach the resistance lines in the weekly time frame. Right now, the buyers are leading a movement to reach the 105404 level and you can see this movement in the 4h charts.The price has been stopped from more descend during its descending trend from the 1.05404 to the transformative supporting level. Formation of Lower Long Shadow in the transformative level indicates the importance of supportive level and the intention of buyers to prevent descend of the price.

FxGlory
2012.08.02

 

[FXGLORY]

Technical analysis of GBP/CHF 08.03.2012

During its ascending trend, GBP/CHF has recorded the 1.54651 level and after that it started its descending trend and reforming of the price. Reaching two resistance lines of the ascending channels is the reason of formation of the 1.54651 level. This formation does not let the price ascend more. You can see these two channels in the below picture.

Also, the price has formed the candle stick pattern of Bearish Dark Cloud Cover after reaching the ascending channel which is issuing the warning of forming of a top price and the possibility of falling of the price. Also, indicator of RSA is showing the saturation sell situation and is issuing the warning of fall of the price and reform of the price.Generally, until the formed top price is maintained, there would be the potential of descend and reform of the price. if the price descended, the first target of the price will be the supporting line of ascending channel.

FxGlory
2012.08.03

 

[FXGLORY]

Technical analysis of USD/CHF 08.06.2012

Right now, the price of the USD/CHF is closed under the average of movements of last 5 days in the weekly time frame. By reaching the transformative level, the price will be stopped and will form a top price.The origin of this bottom price was in 2009. Also, this top price is located in the important Fibonacci level of 61.8 which increase the possibility of the reforming and falling of the price.

About indicator, we can notice that the Stoch indicator is located saturation sell situation, and by considering next cycle we can expect the falling and descending of the price. Indicator MACD is in the divergence situation with the price by considering the recent 2 peaks of the price. This indicator is issuing the warning of the formation of a top price and falling of the price. Generally, as far as keeping this formed top price untouched and safe, the price has a good potential of descend and reform.

The price is surrounded by two descending and ascending channels in the 4h time frame. The recent ascend of the price was happened because the price had reached to the supportive bottoms of these channels.The formation of a candle with long shadow is the sign of traders’ attention and consideration about these levels. The price should break the supportive bottom of ascending channel to continue its descending trend, otherwise, we can expect ascend of the price from these area and this ascending channel.

FxGlory
2012.08.06