ForexTechnical Analysis

[FXGLORY]

Technical analysis of AUD/USD dated 19.10.2012

As it was mentioned in the previous analysis of this currency pair dated 09.10.2012, according to the formed signs, there is the possibility of ascend which finally It happened. the price during its ascend , by reaching to the 50% Fibonacci level ( one of the most important recursive ratios ) has been stopped from AB wave and warns the formation of a top price . The formation of Shooting star and Harami candle patterns shows the failure of sellers in reaching to the higher prices and the formation of a top price and finally decreases of price.

Stoch indicator in daily time frame is in saturation sell area and shows the potential of descending of the price. In 4H time frame of this currency pair , right now there is AB=CD harmonic pattern with the ratios of 61.8 and 161.8 which the D point of this pattern is complete and keeps going . The formation of a bottom price of 1.03525 during descending from D point of AB=CD pattern shows facing of price with the drawn channel (from resistance to supportive). The starting point of this cannel is the supportive bottoms of A and C. The price for more descend needs to eliminate the supportive bottom of 1.03525 , generally according to the formed signs , until the resistance top of 1.04099 is preserved the price has the potential of descend and decrease .

FxGlory
2012.10.19

 

[FXGLORY]

Technical analysis of USD/CHF dated 22.10.2012

USD/CHF in its descending by reaching to the level of 0.92114 has been stopped and has formed a supportive bottom. Right now the price in its ascending trend has reached to descending trend line and has stopped as it is obvious in the picture below. Despite the fact that descending trend line in 09.10.2012 had been broken once and the price passed that level, but it preserved its property. The price in its ascending trend and reaching to descending trend line recorded a resistance top of 0.92886 which is obvious in 4H time frame.

Stoch indicator is in the same direction with the formed bottom in the price chart in daily time frame and shows the possibility of ascend in price according to the next cycles. RSE indicator is in divergence mode with the price chart which shows the possibility of formation of a bottom price for ascending. The most important sign for ascending and ending of descending trends is the formation of a bottom price in 4H time frame and finally breaking of the descending trend line and resistance level of 0.92886 in the second stage.

FxGlory
2012.10.22

 

[FXGLORY]

Technical analysis of EUR/CAD dated 23.10.2012

EUR/CAD in its recent ascend could record the highest price level of 1.30094. The price level of 1.30000 has the important psychic and resistance property because of being round that is known as resistance level here and traders pay attention to it. As it is obvious in the picture below, this currency pair is in an ascending channel which the price has reached to the resistance edge of it and has been stopped. The top price of 1.30094 is fixed and the price decreased in the same direction of Stoch indicator in 4H time frame.

RSI indicator is in divergence mode with the price and shows the potential of descending of the price . The top price of 1.30094 in daily time frame appeared like a Shooting Star candle pattern that is the warning for descend and the possibility of formation of a top price. The best confirmation for this candle pattern is closing of relatively long descending candle on today. Stoch indicator is in saturation buy area in daily time frame and shows the possibility of descend in next candles. Generally until the top price of 1.30094 is preserved, the price has the potential for descend and more reformation in this currency pair.

FxGlory
2012.10.23

 

[FXGLORY]

Technical analysis of GBP/CHF dated 24.10.2012

GBP/CHF in its descending trend from the top price of 1.54952 by reaching to the ascending trend line which is made of two supportive bottoms has been stopped and has been made the third point of this ascending trend line this supportive bottom has been fixed in the level of 1.48187 and has been confirmed by the next day ascending candle. As it is obvious in the picture below , right now in daily time frame AB=CD ascending pattern with the ideal ratios of 61.8 and 161.8 is observable that with the completion of the D point there is a warning about increase of price and ascend by this pattern .formation of the third point of ascending trend line with the end point of AB=CD pattern is a powerful signal in changing the trend direction. Stoch indicator in daily time frame is in the same direction with the signals of harmonic pattern and according to the next cycle, shows the potential of increase of the price during the next candles. Generally until the supportive bottom of 1.48187 is preserved, there is the possibility of increase and ascend of price in this currency pair.

FxGlory
2012.10.24

 

[FXGLORY]

Technical analysis of EUR/ NZD dated 25.10.2012

EUR/ NZD has been stopped during its ascend from the bottom price of 1.49631 by reaching to the descending trend line which is made of 2 resistance points , and was not capable of crossing this resistance level . Right now the third point of descending trend line has been made and the top price of 1.60541 has been recorded by the big descending candle of 24th. RSI indicator is in divergence mode with the price chart and warns the possibility of more descend during the next candles.As it is obvious in the picture below, the technical Wolfe wave pattern is observable in daily time frame which the 5th point of this pattern is completed and the price is moving toward the goal line .this pattern often make correct signals In order to change the trend in price charts. Generally until the top price of 1.60541 is preserved, the price has the potential for descend from the third point of descending trend line. By the formation of a bottom price in 4H time frame and breaking of descending trend line, there is the possibility of ascending of the price and one of the important goals for the buyers will be the Wolfe wave goal pattern line.

FxGlory
2012.10.25

 

[FXGLORY]

Technical analysis of EUR/CAD dated 26.10.2012

EUR/CAD during its ascend has reached to the descending trend line which is made of fourth resistance point and has been stopped from more ascend. As it is specified in weekly time frame of this currency pair, the price has been stopped by reaching to descending trend line and had a small downfall. Stoch indicator is in saturation sell area in weekly time frame and warns the possibility of descend according to the next cycle.
The first important warning for ascending in weekly time frame is closing of ascending candle on descending trend line. In daily time frame, the price is in an ascending channel and by reaching to the resistance edge of channel faced with a downfall and decrease. The top price of 1.30091 is fixed by the descending candle in 23th day and the price descends a little. The first important supportive level in front of the price is the conversion level which is specified in the price chart that had stopped the downfall of price twice. Generally until the top price of 1.30091 is preserved, the price has the potential for descend in this currency pair.

FxGlory
2012.10.26

 

[FXGLORY]

Technical analysis of CHF/JPY dated 29.10.2012

CHF/JPY with the formation of a bottom price in the third point of ascending trend line (the C point in the picture below) start to ascend and during its movement recorded the resistance level of 86.358. Right now the most important resistance level in front of price is 86.358 level. The price in daily time frame has been closed under the five day moving average, and there is the possibility of more descends of price.

As it is obvious in the picture below, there is a descending Butterfly harmonic pattern, which the D point of this pattern is completed and the price is going to descend and decrease. Butterfly harmonic pattern often forms at the end if ascending or descending trends and it is an important warning for changing of the trend. In weekly time frame of this currency pair the weekly candle is closed as descending trend , and its type is Shooting Star pattern that warns the formation of a top price and starting of a descend . Generally until the top price of 86.358 which is the ending level of (D point) Butterfly pattern is preserved, there is the possibility decrease and descend of price.

FxGlory
2012.10.29

 

[FXGLORY]

Technical analysis of GBP/CHF dated 30.10.2012

GBP/CHF has been stopped during its ascend from the bottom price of 1.48200 by reaching to the descending trend line and recorded the top price of 1.51100. Right now this top price is fixed by the descending candle in 29th days. The drawn descending trend line in daily time frame had prevented from ascending of price three times, and finally the price after each encountering with the descending trend line faced a downfall.

Stoch indicator in daily time frame shows the possibility of descending of the price according to the next cycle. In weekly time frame of this currency pair the price has been stopped from more descend with the formation of the bottom price of 1.48200 on ascending trend line (the third point of ascending trend line). Stoch indicator is in saturation sell area in this time frame and warns the possibility of ascending of the price during next weeks. Until the third point of ascending trend line is preserved, there is the possibility of increase and ascend of price. The first important warning for ascending of the price is the formation of a bottom price in daily time frame and breaking of the descending trend line.

FxGlory
2012.10.30

 

[FXGLORY]

Technical analysis of USD/CAD dated 31.10.2012

In USD/CAD by breaking of the resistance line of descending cannel, the field for increase of the price was provided as we mentioned in the previous analysis of this currency pair dated 15.10.2012. Right now the price could record the resistance level of 1.00177 during its ascend. as it is obvious in the picture below , the reason for stoppage of this currency pair and closing of descending candle in 30th day is being in an ascending channel and the formation of AB=CD harmonic pattern .

Between the bottom price of 0.96317 and the top price of 1.00177, AB=CD harmonic pattern with 50 to 200 ratio is formed which the D point of this pattern is completed and there is the possibility of descending of the price. The formation of D point of harmonic pattern in resistance edge of ascending candle makes the possibility of formation of a top price and finally a downfall. Stoch indicator is in saturation buy area in this time frame and warns the possibility of descending of the price. The first sign for starting of descending in price is passing of 0.99819 level. Generally until the top price of 1.00177 is preserved, there is the possibility of decrease and price reformation in daily time frame.

FxGlory
2012.10.31

 

[FXGLORY]

Technical analysis of EUR/USD dated 01.11.2012

EUR/USD on 17.10.2012 by reaching to the determined resistance range which is originated from top price of 17.10.2012, was not able to pass this resistance level and finally had a downfall .during the downfall of this currency pair, the price has been stopped by reaching to the ascending trend line and has formed a bottom price on this line (the formation of fourth point of ascending trend line).With the closing of ascending candle on the supportive line on 30th day this point is fixed and there was a warning for the possibility of ascend but more with the closing of descending candle with long upper shadow (Shooting Star candle pattern) on 31st day this possibility was weaker .

Right now the ascending trend line is preserved and Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle. Daily time frame’s signal doesn’t have a high validity because the daily time frame indicator signal is not in the same direction with weekly time frame. Closing of ending today descending candle and breaking of ascending trend line is the first warning in this currency pair for reformation and descend. Generally until the fourth point of ascending trend line on the level of 1.28851 is preserved, the price has the potential for ascend and increase.

FxGlory
2012.11.01

 

[FXGLORY]

Technical analysis of USD/CHF dated 05.11.2012

As it was mentioned in the previous analysis of this currency pair, according to the formed signs, there was the possibility of ascending of the price which finally happened .By breaking of descending trend line the first warning for ascending of the price is issued. After breaking of descending trend line, the price had a little descend and by reaching to the descending trend line with the new property (new supportive level) has been stopped and has made the Hammer candlestick pattern.

The formation of this pattern shows the possibility of formation of a bottom price and ascends of price. Stoch indicator is in the line between the saturation buy and sell and issued the buy signal and warns the possibility of ascending of the price. Right now the price during its ascend has reached to the descending trend line which is made of two resistance peak and two descending candles closed under this resistance line. The top price of 0.94154 is recorded and breaking of this line is a warning for ascending of price. In daily time frame of this currency pair the bottom price of 0.92142 is recorded by the two ascending candle and the price is above 5-day moving average. Stoch indicator confirms the ascending trend in this time frame and warns its possibility. Generally according to the formed signs , there is the possibility of ascending of price in this currency pair .

FxGlory
2012.11.05

 

[FXGLORY]

Technical analysis of GBP/CHF dated 07.11.2012

GBP/CHF has been stopped during its ascend from the bottom price of 1.48200 by reaching to the descending trend line and recorded the top price of 1.51145. As it was mentioned in the previous analysis of this currency pair dated 24.10.2012, there was the possibility of ascend in price by the formation of AB=CD harmonic pattern which finally happened. If the candle closes as descending trend today, there will be the top price of 1.51145. In daily time frame the descending trend line three times prevented from the increase of price and finally the price after each encounter with descending trend line had a downfall.

In weekly time frame of this currency pair the price has been stopped from more descend with the formation of the bottom price of 1.48200 on ascending trend line (the third point of ascending trend line). Stoch indicator in this time frame warns the possibility of ascending of the price during the next weeks according to the next cycle. Until the third point of ascending trend line is preserved, there is the possibility of increase and ascend of price. The first important warning for ascending of the price is breaking of descending trend line. Generally until the top price of 1.51145 is preserved, there is the possibility of decrease and descend of price.

FxGlory Broker
2012.11.07

 

[FXGLORY]

Technical analysis of USD/CAD dated 08.11.2012

As it was mentioned in the previous analysis of this currency pair dated 31.10.2012, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. The price during its downfall has been reached to the supportive edge of ascending cannel and has been stopped and formed the bottom price of 0.98740.

The formation of long lower shadow on 7th day candle shows the importance and sensitivity of price to the ascending trend line, and finally the traders’ attention were toward this supportive level. If the ascending candle closes today, the bottom price of 0.98740 will record. Stoch indicator according to the next cycle warns the possibility of ascend and increase of price in daily time frame. The most important warning for ascending is the breaking of resistance level of 1.00187 and generally until the supportive level of 0.98740 is preserved; the price has the potential for ascending from supportive edge of ascending channel.

FxGlory
2012.11.08

 

[FXGLORY]

Technical analysis of EUR/AUD dated 09.11.2012

EUR/AUD from 05.10.2012 has a descending trend and right now it is in a descending channel. Right now the price has closed under 5 day moving average and follows the descending trend. The price by facing the supportive edge of descending channel and being in 50% Fibonacci correction has been stopped from more descend temporary and recorded the bottom price of 1.21924. The formed candle on 8th day is hammer candlestick pattern which warns the possibility of formation of a bottom price and finally ascend of price.

Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle; also it is in divergence mode with the price chart and warns about ascending of the price. Closing of daily candle as ascending trend upper than hammer candlestick pattern recorded the bottom price of 1.21924 and is an important warning for ascending of the price. Generally until the bottom price of 1.21924 is preserved, there is the possibility of increase and price reformation.

FxGlory
2012.11.09

 

[FXGLORY]

Technical analysis of EUR/GBP dated 12.11.2012

As it was mentioned in the previous analysis of this currency pair dated 01.10.2012, there was the possibility of the price ascend which finally the price passed the supportive level of 0.79230. The price during its ascend has recorded the resistance level of 0.81633 which is one of the important resistance level. The price during its downfall from the mentioned top price by reaching to the ascending trend line (the formation of the third point of ascending trend line) has been stopped from more descend and has recorded the bottom price of 0.795587 by closing of the daily ascending candle on 9th day.

Stoch indicator shows the possibility of ascend (also the divergence mode with the price) in daily time frame according to the next cycle. In 4H time frame as it is obvious in the picture below , there is Wolfe Wave ascending pattern and warns the ascending of price up to the goal line . By the formation and completion of the 5th point of this pattern, there is a warning for ascend and increase of price. The price during its ascend from the 5th point of Wolfe wave pattern and reaching to the descending trend line is not able to ascend more and with the formation of two Shooting Star candlestick patterns has formed the top price of 0.80070 . Breaking of the descending trend line is the first important warning for ascending in this currency pair.

FxGlory
2012.11.12

 

[FXGLORY]

Technical analysis of USD/CHF dated 14.11.2012

As it was mentioned in the previous analysis of this currency pair dated 05.11.2012, according to the formed signs, there was the possibility of ascending of the price which finally happened .The price during its ascend has recorded the price level of 0.95117 and now it is the most important resistance level in front of the price. Right now the price has been stopped from more ascend in daily time frame. The formation of Doji and Shooting Star candle stick pattern on 12th and 13th days shows the market’s indecision in ascending or descending of price, and finally there is a warning for formation of a top price and possibility of descending by these two candlestick patterns during the next days.

Stoch indicator is in saturation sell area and warns the possibility of descending of the price according to the next cycle. According to the formed price movements the AB=CD harmonic pattern with 61.8 and 161.8 ratio has been formed that with the completion of the D point of this pattern ( the formed Candlestick pattern) there is a warning for price for descending of the price . Generally until the top price of 0.95117 is preserved, there is a potential for descending of the price.

FxGlory
2012.11.14

 

[FXGLORY]

Technical analysis of EUR/JPY dated 15.11.2012

As it was mentioned in the previous analysis of this currency pair dated 06.11.2012 according to the formed signs, there was the possibility of descending of the price which finally happened. The price during its descending trend was able to record the supportive level of 100.318 and now this is the most important supportive level in front of the price. The price is currently closed over the 5-day moving average and is likely to ascend more.

Stoch indicator shows the possibility of ascend frame according to the next cycle in this currency pair. As we mentioned in the previous analysis of this currency pair, in weekly time frame this currency pair, there is Wolfe Wave pattern which confirms the ascend potential and generally the price is moving toward the goal line of this pattern. the price is going to reach to the descending trend line which is made of the 2 and 4 points of Wolfe Wave pattern and by breaking and closing of the ascending candle on this line , there is the warning for more ascend of the price .

FxGlory
2012.11.15

 

[FXGLORY]

Technical analysis of NZD/USD dated 16.11.2012

As it was mentioned in the previous analysis of this currency pair dated 17.10.2012, according to the formation of the third point on ascending trend line and other formed signs, there was the possibility of the price ascend which finally happened. Right now the price has passed the ascending channel range and during its downfall could record the price level of 0.80776 .the bottom price of 0.80776 by facing the supportive line which is drawn in the picture below (the formation of the third point on ascending trend line).

The most important sign and confirmation for the bottom price of 0.80776 is closing of ascending candle at the end of day which records this bottom price. Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle. Generally until the supportive level of 0.80776 is preserved, there is the possibility of increase in this currency pair.

FxGlory
2012.11.16

 

[FXGLORY]

Technical analysis of GBP/USD dated 19.11.2012

GBP/USD during its ascend from the bottom price of 1.52696 by reaching to the resistance level of 1.63000 (important resistance level because of being round) and after testing of this resistance level face a downfall that warns the formation of Shooting Star candlestick pattern which is observable in 21.09.2012 chart . The price was able to record the lowest supportive level of 1.58277 during its descending trend.This bottom price is on supportive level of descending channel and was recorded by the ascending candle on 16th day. Right now the price is closed above 5-Day moving average and there is the possibility of ascending of the price. If the price ascends the next important resistance level is 1.60000 and resistance edge of descending channel. Stoch indicator according to the next cycle shows the possibility of ascend during next days. Generally until the bottom price of 1.58277 is preserved, there is the possibility of increase and ascend in this currency pair.

FxGlory
2012.11.19

 

[FXGLORY]

Technical analysis of USD/CAD dated 21.11.2012

As it was mentioned in the previous analysis of this currency pair dated 08.11.2012, according to the formed signs, there was the possibility of increase and ascends of price which finally happened. The price increased to the 1.00500 level and after that had a downfall which shows the attention of traders to this round resistance level and if the price ascends again this level will be one of the most important resistance level in front of price. The price has been stopped during its downfall from the top price of1.00544 by reaching to the supportive line of ascending channel and the supportive edge ( ascending trend line ) prevent it from more descend . Right now bottom price of 0.99558 has formed in this currency pair and the price had a little ascend.

By closing of the ascending candle at the end of today this bottom price will be recorded. Now there is not any clear condition of this currency pair movement and it can be observable on 20th day with the formation of Doji candlestick pattern (indecision traders). In weekly time frame there is the possibility of formation of a top price by formation of Shooting Star candlestick pattern. Stoch indicator is in saturation buy area and warns the possibility of decrease of the price according to the next cycle. Generally until the bottom price of 0.99558 (it is not highly valid because of not approving b weekly time frame) is preserved, there is the possibility of increase and ascend of price in this currency pair.

FxGlory
2012.11.21