ForexTechnical Analysis

[FXGLORY]

Technical analysis of EUR/USD 08.07.2012

By forming a bottom price and making it stable on the 1.20408, the EUR/USD currency pair prepares the situation for the ascending of the price. as you can see in the below picture, formation and stabling of the this bottom price has taken 3 weeks and since then it has started its ascending trend. This supportive bottom price was formed on the blue supportive line. This supportive line has prevented more descend of the price and is leading the price toward the descending trend’s line and resistance trend’s line. The price is closed above the average of 5 last days and it is obvious that until the price is closing like this and the trend will be ascending.

The Stoich indicator is located in the saturation sell area and is issuing the warning of ascend of the price with the next cycle. Also, the Stoich indicator is in divergence mode with the price chart which this divergence is issuing a powerful warning comparing to the previous signal about ascending of the price.

FxGlory
2012.08.07

 

[FXGLORY]

Technical analysis of EUR/CAD 08.08.2012

The EUR/CAD is located in the supportive areas which consist of 1991, 2000, 2010. To increase the descending trend the price should pass these areas. These supportive areas have the potential of preventing more descend of the price. You can see these supportive areas in the monthly time frame.

In the weekly time frame, right now, the descending trend of the price has been stopped when the price reached the blue supportive line and the it formed the third bottom price on this line. There are two candle pattern on this line, Hammer and Inverted Hammer, which are good proves of sellers’ defeat to reach the lower prices and then formation of a bottom price.

Stoch indicator is located in the saturation sell area and by considering its next cycle, it is issuing the warning of ascend of the price and increase in the price in this time frame. Right now, the price, is descending in the smaller time frames and is moving toward the 1.21945 and there is not any sign of ascend in the 4h time frame. Generally, until the supportive level of 1.21945 is maintained we can expect the ascend of the price in the weekly time frame from the third supportive bottom price.

FxGlory
2012.08.08

 

[FXGLORY]

Technical analysis of EUR/AUD 08.09.2012

The EUR/AUD is located in the lowest price of its past 20 years. It did not ascend from 12.01.2008 and continued to descend. Also, it has broken all of the supportive lines since 2008 and passed them. Right now, the most important supportive level is the 1.6000 level which due to its roundness is very important.

As you can see in the below picture, the price has descended since 05.13.2012 without any reforms and has been stopped in the two previous candles of weekly chart. The current price bottom consists of the two reversal candle stick pattern of ( Hammer& Inveted Hammer)which both of them are issuing the warning of the formation of a bottom price and then ascend of the price.

Right now, the price is descending and there is not any sign of descend of the price in the 4 h time frame. Closing of the current candle in the weekly time frame can be a sign of ascending of the price, if the bottom price of 1.6000 broke, a bottom price would form in the long time frames. Stoch indicator is in the saturation buy area in this time frame, by considering the next cycle we can expect the ascend of the price during next weeks. The signal of the indicator would be more powerful if the price passed the supportive level of 1.30200.

FxGlory
2012.08.09

 

[FXGLORY]

Technical analysis of AUD/JPY 08.10.2012

During recent weeks the AUD/JPY has been in a descending trend and it was able to reform the powerful descending wave that happened from 03.18.2013 to 06.03.2012. Right now, this currency pair is in a top price in daily time frame as it is indicated in the below picture. The candle of third day is a defeat in this month which is not able to pass the supportive level of 07.05.2012 and finally will lead the price to the reverse supportive level.

Right now, the formed top price is under the influence of the 127.2 Fibonacci from the expansion pattern of ABC (red) and also the 61.8 Fibonacci from the bigger pattern of ABC (blue) and is supporting the supportive level of 83.339.Right now, the Stoch indicator is in the divergence mode with the price chart and is issuing the warning of the fall of the price and also the MACD indicator is in divergence mode by considering its movements and the top prices of A & C.Right now, we can see the potential of descending trend and if the top price of 83.339 maintained we can expect the possibility of descend of the price.

FxGlory
2012.08.10

 

[FXGLORY]

Technical analysis of Gold 08.13.2012

Right now, the gold could pass the supportive and resistance areas after several months by its little ascend and move toward the descending bigger line. Right now the price is closed above the average of last five days and in an ascending mode and is moving toward and testing the resistance level of 1629.07.

The mentioned resistance level is the most important level in the ascending movement of the price. If an ascend trend occurred in the gold chart, the price would move toward descending trend’s line and this level would be the most important resistance level after the level of 1629.07

If the monthly time frame, the candles are closed in ascending mode two months ago and the price is moving toward and generally we can expect the ascending of the price and locating in a bottom price. Also, in this time frame, the Stoch indicator and its next cycle, we can expect the ascend of the price and locating in a bottom price during next months.

FxGlory
2012.08.13

 

[FXGLORY]

Technical analysis of AUD/USD 08.14.2012

During its ascending trend the AUD/USD registered the level of 1.06110, then it started to falling. The reason of this descending, as you can see in the below picture, is the red resistance’s line which consists of 4 peaks of price. All the candles on the resistance line confirm the defeat of the sellers to reach the higher prices on the resistance’s line.

Right now, the price is closed under the average of last 5 days in the daily time frame and if the theformed top price maintained its position, we can expect the ascend of the price to the ascending’s trend line in the first stage. In the weekly time frame, the previous week’s candle is closed like the Doji pattern and this show that the market was unable to make a decision on that week and also, indicates the doubt of the buyers during the ascending trend. Right now, this pattern is like a resistance level according to the characteristics of the candle stick patterns.

Stoch indicator is located in the saturation sell area and by considering the next cycle, it is issuing the warning of the formation of a top price and descending of the price in next weeks. Right now, we can see the lower descending trend’s line according to the lower prices in the chart which are acting as an important resistance level and are issuing the warning of descending of the price from the third point of descending trend’s line.

FxGlory
2012.08.14

 

[FXGLORY]

Technical Analysis of EURJPY pair dated 16.08.2012

EUR/JPY has been stopped on the supportive line by making the lowest price of 94.127 in its descending trend during three weeks ago and after that there is a little ascends. This supportive line is made of two supportive depth in 2010 and 2012 years. And it prevents from the descending of price in 24.07.2012. Right now the price must break the resistance level at 97.800 for having an ascending trend, the price needs to become 97.800 and upper that.

Generally until the created lowest price on the supportive line is preserved, the price has a descending trend which you can see in the below picture. Stoch indicator in weekly time frame determines the ascending trend by next cycle in divergent chart. Right now in this chart the important Wolfe Wave pattern is formed which it is completed in number five. And this pattern predicts the same trend for this pair in the next weeks. This pattern is recessive which often will form at the end of ascending and descending trends, and usually is an important warning for changing trends.

FxGlory
2012.08.16

 

[FXGLORY]

Technical Analysis of AUDUSD pair dated 20.08.2012

As it is mentioned in previous technical analysis of this pair in 14.08.2012, according to the symbols that were formed in the chart, it was possible that the price in this pair decreases and finally it happened. By reaching the price to the ascending line of which you can see in the picture, the price couldn’t crossed the ascending channel so it formed a supportive bottom on this line.

This supportive bottom is fixed in the price level of 1.04098. Right now by reaching the price to the alternate level (from supportive to resistance) which is determined in the picture is testing that, and this level displays its resistance feature and it didn’t let the price to get higher until now. Stoch indicator in 4H time frame is located in the saturation sell area and by considering the next cycle we can expect the increase of the price. And this will be so until the bottom price is 1.04098. Generally until the price is in this ascending channel, the descending hypothesis in daily and weekly time frames is weaker and for having a decending trend the ascending channel must be broken.

FxGlory
2012.08.20

 

[FXGLORY]

Technical Analysis of USD vs. JPY pair dated 22.08.2012

USD/JPY pair in its recent ascending trend by reaching to the descending line which is made of three resistance peaks is unable to ascend more and finally with the formation of top price fell down. Right now in this currency pair in case of the recent downfall the top price of 79.648 is confirmed. And the most important current resistance level will be in front of the price.

Stoch indicator in 4H time frame is located in the saturation sell area and by considering the next cycle we can expect the increase of the price. And also the bottom price of 79.151 is confirmed in the chart. Generally until this price is preserved the ascending trend and reaching to the resistance level of 79.648 is possible. For having an ascending trend the price must break the descending line and crosses that and by confirmation of the bottom price at 77.910 level, the price will be increased and goes toward the next resistance level.

In weekly chart of this currency pair, in recent weeks the price is on the alternate level (from resistance to supportive) formed a supportive bottom with the bellow long shadows which shows the failure of the sellers for reaching to the lower price in this range. Stoch indicator in 4H time frame shows the possibility of ascending candles and the first goal for long-term buyers is the resistance level of 80.597.

FxGlory
2012.08.22

 

[FXGLORY]

Technical analysis of AUD/USD 08.27.2012

As we mentioned in our previous technical analysis about AUDUSD, we can see the sign of stop of ascending trend of the market in the long term time frames like weekly time frame. Right now in the weekly time frame, the price has issued the signal of descending of the price and stooping of the ascending trend by making a top price on the descending trend’s line.

The formed candle on the descending trend’s line is the Doji candle. This candle is confirming that the market is not able to make decision to descend or ascend. This uncertainty will cause the defeat of the buyers in reaching the higher price. Now, the price is closed under the average of the last 5 days and Stoch indicator is issuing the warning of descending and falling of the price in its next cycle.

[/B]FxGlory[/B]

 

[FXGLORY]

Technical analysis of gold 08.28.2012

Gold has started a strong ascending movement during this week it has registered the resistance level of 1676.96. As you can see in the below picture, the price is located in a ascending channel. The resistance edge of the channel prevents ascend of the price and the forward movement of the buyers.

This edge has done its responsibility in preventing more ascend of the price successfully on 23th, 24th, and 27th. on 24th, by formation of the Doji candle in the daily time frame, the uncertainty of the market for ascending or descending was confirmed which finally caused the defeat of the buyers to get the higher prices. To start the next ascending trend we need formation of a bottom price in the 4h time frame and then its stabling and finally breaking of the resistance level of 1655.70 and then 1676.96.

FxGlory
2012.08.28

 

[FXGLORY]

Technical Analysis of EUR vs. CHF pair dated 29.08.2012

EUR/CHF pair from 29.08.2012 faced with a neutral trend which is continued now. The formation of candles with small framework and lower or higher shadows confirms the irresolute market and not having a special aim in this currency pair. As you can see in the below picture, in this density range, the price tends to descend by reaching to the top of this neutral range and finally tends to ascend by reaching to the bottom price.Until the price acts within this range with the mentioned candles, only the transactors, who act within the neutral market, take profit. And the only important attitude toward the technical analysis in present situation is, sell in top prices and buy in bottom prices. Closing of lower prices of descending or ascending candles out of the density range is the first warning of getting out of the neutral trend in this chart.

FxGlory
2012.08.29

 

[FXGLORY]

Technical analysis of USD/CAD dated 30.8.2012

USD/CAD currency pair during the last week by reaching to the supportive level of 0.98405 starts to ascend as it is obvious in the below picture. The formation of long lower shadows emphasizes the existence of supportive level in this range. Also Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price by considering the next cycle.

Right now the price is in conflict with the descending trend line in daily price time frame. This trend line has prevented from ascending and increasing of the price successfully till now. Right now we can see the ascending trend in this time frame and RSA indicator confirms this potential. Closing of the today ascending candle in descending trend line is the first warnings for more price ascend. And also in the next stage the parallel line on the descending trend line is the next obstacle for the price. Generally until the supportive level of 0.98405 is preserved the price has the potential to increase and ascend.

FxGlory
2012.08.30

 

[FXGLORY]

Technical Analysis of NZDUSD pair dated 03.09.2012

The price during its ascending trend in 06.08.2012 and 23.08.2012 by reaching to the descending trend line has been stop from more ascend and finally starts falling down which is obvious in below daily time frame. Right now the price by making the bottom price of 0.79680 and fixing it by strong ascending candle in 31 of August is unable to continue its descending trend. According to the recent price movement, AB=CD harmonic pattern observes in the price chart by ideal ratio of 76.4 and 127.2 that the completion of the D point warns increase and ascend of price by this harmonic pattern. The formation of ending point of this pattern in supportive level (supportive to resistance) confirms the harmonic pattern in below picture.

Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price by considering the next cycle. Generally until the bottom price of 0.98405 is preserved the price has the potential to increase and ascend.

FxGlory
2012.09.03

 

[FXGLORY]

Technical analysis of AUD/USD dated 05.09.2012

As we mentioned in our previous technical analysis about AUD/USD dated 27.08.2012, the downfall of price is possible by technical signs which finally caused the descending of price till now. In daily time frame the price is closed under the five days moving average and shows more descend which is continued. Right now according to the recent downfall around 50 and 61.8 Fibonacci of previous trend is corrected and the next goals are through more descend of 50 and 61.8 Fibonacci which is drawn in the picture below.

Right now there is not a clear and important technical sign for stopping of descend and ascending of the price. In weekly time frame by closing of descending candles on descending trend line in recent three weeks, there is no signal for ascending of the price and shows the possibility of the ascend during the next weeks. The minimum sign of ending the descending trend is the formation of the bottom price in daily time frame and fixing of it, and until there is no bottom price, we can consider the trend as descending one.

FxGlory
2012.09.05

 

[FXGLORY]

Technical analysis of EUR/GBP dated 06.09.2012

In the previous technical analysis of EUR/GBP dated 27.07.2012
is pointed to the possibility of ascend and increase of price which finally the price of this currency pair was ascending till now. Right now the resistance level ( from supportive to resistance )which is drawn in the picture below , prevent from more ascend of price three times in 8th ,20th and 31st of August , and the technical analyzer paid attention to this powerful price obstacle in the previous analysis.

Right now the price in its ascending trend faced the descending trend line but it was not successful to be returned, and the imperceptible price is going to break this descending trend line. The first sign for more ascend is the conversion line (supportive to resistance) and closing of the ascending candles on top of this level. In monthly chart of this currency pair, the bottom price of 0.77624 is fixed and Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price in the next months by considering the next cycle. Also this indicator became divergence with the price chart that makes the possibility of ascend stronger according to its signal. Generally as it is specified in daily time frame until the bottom price of 0.78863 is preserved, it is expected the price increase and ascend.

FxGlory
2012.09.06

 

[FXGLORY]

Technical analysis of GBP/JPY dated 07.09.2012

Right now GPB/JPY pair in its descending trend from 2007 year is in the lowest fixed prices during its recent 20 years. As it is obvious in the picture below the bottom price of 2009 year has prevented from more descend of the price, once in 2011 and twice in 2012 and finally the price has been ascend. Right now the price by reaching to the supportive level, is stopped from more descend and it is ascending now.

According to the heavy and powerful descend which is fixed from 2007 year; there is a vacuum in monthly chart of this currency pair which shows the potential for ascending of the price, and until the supportive level is preserved in this currency pair, the reverse and ascend of the price is possible. In daily time frame, as you see in the picture below, the descending trend line is broken with the three top prices and the price is in top of 5 days moving average and shows the possibility of more ascends in this currency pair.

FxGlory
2012.09.07

 

[FXGLORY]

Technical analysis of USD/JPY dated 10.09.2012

As it is obvious in the picture below the rapid and powerful downfall of 7th of September stops by ascending trend line which is made of two supportive bottom price. The formation of long lower shadows on the ascending trend line shows the importance of this line and the sellers’ failure for getting more descending price.

Right now the USD/JPY currency pair is near its lowest descending price during the previous 20 years, and the most important supportive level with more descend reaches to the level of 75.556 which is the lowest fixed level in the history of monthly USD/JPY chart. Right now the price is located in sell saturation area and is stopped from its descending trend, and stoch indicator confirms this form in 4H time frame and shows the possibility of correction of the previous trend. As long as the supportive level of 78.005 is preserved, the ascending of the price and reaching to the resistance level is possible, and you can see it in the picture below.

FxGlory
2012.09.10

 

[FXGLORY]

Technical analysis of AUD/USD dated 12.09.2012

AUD/USD currency pair in 6th of August starts to ascend by creating the bottom price and fixed ascending candles, and as it was mentioned in the previous analysis of this currency pair the minimum reliable sign for the end of descending trend and beginning of ascending trend is the formation of the bottom price and fixing of it in daily time frame.Right now there is no sign of descending in long term time frames of this currency pair and the price is in top of the five days moving average in daily time frame. The buyers try to reach the long term descending trend line (which was successful for 3 times and the price by reaching to that fell down.) right now the price is drawn on the descending trend line in weekly time frame and if Ascending candle closes today, the goals will be long term descending trend line in first step and in the next step psycho resistance level in this currency pair.

FxGlory
2012.09.12

 

[FXGLORY]

Technical analysis of AUD/USD dated 17.09.2012

As it was mentioned in previous technical analysis of this currency pair, there was the possibility of price ascending which finally could reach to the descending trend line and the important psycho resistance level of 1.06000 during the last weekend. Right now the descending trend line is not broken yet and this line could descend the price. There is Shooting Star candle pattern in the chart which was made in the last day of previous week and warns the formation of a top price but this warning is not important in technical analysis.

According to the last ascend of this currency pair in last week, there is a top price of 1.06225 which is fixed and until this top price is not broken. There is the possibility of descending and price reformation in this currency pair. Stoch indicator is located in the saturation sell area and shows the possibility of descending of price according to the next cycle. The first sign of more ascend is the closing of the ascending candle on descending trend line.

FxGlory
2012.09.17