ForexTechnical Analysis

[FXGLORY]

Technical analysis of GBP/JPY dated 14.02.2013

GBP/JPY had a great ascending trend without reformation from B bottom price in the level of 118.804 and could record the top price of 148.000. Right now the price by reaching to the resistance Fibonacci level of 200 also resistance round level of 148.000 has been stopped from more ascend and formed a top price which is fixed by previous descending candles in daily time frame. In the range of formed top price there are Hanging Man and Doji candlestick pattern that shows the possibility for formation of a successful top price in continuing descending trend. According to the formed movements RSI indicator is in divergence mode with the price that warns the changing of price direction.Right now the price during its downfall by reaching to the supportive round level of 145.000 has reacted to it and buyers overcome sellers also it caused the formation of hammer candlestick pattern in 4H time frame. The first warning for more descend is breaking of this supportive level. Generally until the top price of 148.000 is preserved, there is a potential for price reformation in this currency pair.

FxGlory
2013.02.14

 

[FXGLORY]

Technical analysis of GBP/CHF dated 15.02.2013

As it was mentioned in the previous analysis of this currency pair dated 06.02.2013 according to the formed signs there was the possibility of the price ascending which finally happened and it could record the top price of 1.45342 during its ascending. Price during the buyers retreating and downfall from the mentioned top price could record the bottom price of 1.42301 which is fixed by the next ascending candles and had an ascending trend. In daily time frame of the previous day, the Inverted Hammer pattern was formed which shows the possibility for formation of a bottom price and price ascending.

As it is obvious in the picture below, by breaking of the descending trend line (with three top prices) and converting of it to the supportive level in 1H time frame, there is a warning for ascending of the price. According to the formed signs in the chart and the potential of this currency pair in reforming of the recent strong descends, until the bottom price of 1. 42301 is preserved, price has the potential for increasing and ascending in this currency pair.

FxGlory
2013.02.15

 

[FXGLORY]

Technical analysis of EUR/USD dated 18.02.2013

EUR/USD During its ascending trend by reaching to the Fibonacci level of 200 and recording the top price of 1.37086 has been stopped from more ascending. Right now the price is under 5-day moving average in daily time frame and warns the potential for descending of the price. In weekly time frame of this currency pair in the top price of 1.37086, there is a Engulfing candlestick pattern that shows the formation of a top price and sellers overcome buyers.Stoch indicator is in saturation buy area in weekly time frame and warns the potential for decreasing of the price according to the next cycle. As it is obvious in the picture below if the price descends, one of the price targets will be the drawn ascending trend line. Right now the first important warning for more descending of price in this currency pair happens by breaking f the 1.33046 level in daily time frame.

FxGlory
2013.02.18

 

[FXGLORY]

Technical analysis of USD/JPY dated 19.02.2013

USD/JPY from 12.09.2012 (formation of ascending trend third point) is in a strong and without reformation ascending trend that could experience a good price growth. Right now this currency pair could record the top price of 94.446 during its ascending trend that according to the formation of recent candles, it is not an ideal top price for descending. In daily time frame the price has been stopped by touching the resistance level and the buyers could not reach to the higher prices.RSI indicator is in divergence mode with the price chart that warns the possibility of changing price direction. In weekly time frame Stoch indicator is in saturation buy area and warns the possibility of price reformation according to the next cycle. Closing of recent weekly descending candle or formation of one of the important candlestick patterns is a good reason for confirming the descending signal by Stoch indicator in weekly time frame. Generally according to the strong and without reformation ascending trend in this currency pair, the price has the potential for downfall until the top price of 94.446 is preserved.

FxGlory
2013.02.19

 

[FXGLORY]

Technical analysis of GBP/USD dated 20.02.2013

GBP/USD from 20.12.2012 began to descend by forming a top price. Due to the technical signs selling pressure of sellers is tangible and there is not a clear reason for reformation and ascending of the price in long term time frames. The price during the descending trend could record the bottom price of 1.54142 which is the nearest level to one of the supportive level in the chart. As it is obvious in the picture below, the price its descending trend could pass the long term ascending trend line which is made of 4 bottom prices and warns about descending of the price.Sellers in midterm outlook try to get the supportive level of 1.53900 and for the next stage, the important level of 1.53000 and these two supportive levels are the possible targets of price downfall. Stoch indicator in monthly time frame shows the possibility of descending of the price according to the next cycle.

FxGlory
2013.02.20

 

[FXGLORY]

Technical analysis of NZD/USD dated 21.02.2013

NZD/USD in daily time frame is in ascending trend and could record the top price of 0.85321. The price has faced a downfall after this top price and has reached to the ascending trend line which is made of 6 bottom prices and prevents from more decrease of price, and with formation of a bottom price provides a field for ascending. According to the daily and weekly time frame of this currency pair, sellers selling pressure is tangible and the price has a good potential for breaking of the ascending trend line. As it is obvious in the picture bellow, according to the formed signs, there is Bat harmonic pattern that completing the D point is a warning for ascend of price.

Stoch indicator in 4H time frame is in saturation sell area and warns the possibility of ascending of the price according to the next cycles. According to the case that this signal is against the daily and weekly time frame, it does not have a high value. Generally until the formed bottom price on ascending trend line and D point of Bat harmonic pattern is preserved, there is the possibility of increase and ascend of price , and if the descending candle closes on the ascending trend line, there will be the potential for more descending of the price.

FxGlory
2013.02.21

 

[FXGLORY]

Technical analysis of Silver date 26.02.2013

As it was mentioned in the previous analysis of Silver on 2013.01.10, according to the formed signs, there was the bullish potential which finally happened .The price was able to touch lowest supportive level of 28.29 during its bearish trend and This price was recorded by the bullish candles on 22 & 25th day .As it shown in figure bellow ,Between the High price of 35.37 and the Low price of 28.29 there is Three Drives Pattern harmonic pattern with ideal ratios that by completing the third point ,bearing trend signal is invisible.RSI indicator is in saturation sell area follows the bottom price of 28.29 and warns the possibility of bullish trend during the next days.Formation of a candle with small body and a Spinning Top candlestick pattern(21th and 22th) shows the indecision of market for ascending or descending and warns the formation of a lowest price in this area.Right now the first important warning for more ascending of price in this pair happens by breaking out the 29.25 level in daily time frame .Generally until the low price of 28.29 is respected, the price has the potential for be bullish from the harmonic pattern.

FxGlory
2013.02.26

 

[FXGLORY]

Technical analysis of USD/CAD dated 27.02.2013

Since 14.01.2013 USDCAD had a strong Bullish trend with little reformation that shows the decision of buyers in reaching to the long term targets. This currency pair during its movement could touch the top price of 1.01318 .The price by reaching to the psychic level of 1.03000 could not pass it and retreated which the usage ability of this level can be seen in M15 time frame. According to the formed movement in the price chart , there is AB=CD harmonic pattern between the low price of 0.96320 and high price of 1.03018 with the ideal ratios of 50 to 200 and by completing the D point of this pattern there is the possibility for formation of a high price.Stoch indicator in Daily time frame is in saturation Buy area and warns the possibility of stopping of the bullish trend by the next cycle. If the candle formed a bearish shape , there will be the high price of 1.03018 . With the formation of a Doji pattern, there is a warning for formation of a Top price and changing direction in the chart but closing of the bearish candle at the end of day is necessary for attention to this signal. Generally until the Level price of 1.03018 is preserved, the price has the potential for descending and reformation.

FxGlory
2013.02.27

 

[FXGLORY]

Technical analysis of GBPUSD dated 01.03.2013

GBPUSD during the recent weeks could descend without reformation and record the Bottom price of 1.50726.Right now the mentioned bottom price is recorded by the next ascending candle and is one of the most important supportive levels in front of price. As it is shown in the picture below, In the daily time frame, the descending trend of the price has been stopped when the price reached the blue supportive line and it formed the Fourth bottom price on this line. In 4H time frame , according to the formed movements the price is in divergence mode with the RSI indicator and warns about the formation of a bottom price and change in price direction. Also in daily time frame of 24th, the Counterrettack line pattern was formed which shows the possibility for formation of a bottom price and price ascending.

As it is obvious in the picture below, by breaking of the descending trend line (with SIX top prices) and converting of it to the supportive level in 1H time frame, there is a warning for ascending of the price.RSI indicator is in saturation sell area follows the bottom price of 1.50726 and warns the possibility of ascending during the next days.(In the Daily time frame). According to this point, this currency pair has experienced the strong descending trend in the past and also mentioned signs until this bottom price is preserved, there is the potential for price increase and reformation in this currency pair.

FxGlory
2013.03.01

 

[FXGLORY]

Technical analysis of NZD/USD dated 04.03.2013

NZD/USD on 28.02.2013 during testing of a resistance level (made of 3 peak price) was not successful and finally descended. As it is obvious in the picture below, the price during its descend by Surmounting the supportive line (made of 2 bottom price) uses it as a resistance level and descends. Right now the price is under 5-day moving average and surmounts the supportive level of 0.82225 that shows the possibility of more descends in this currency pair. In weekly and monthly time frames, there is not a clear reason for ascending of the price and by the type of forming candles; there is the possibility of forming a top price.

Stoch indicator in weekly and monthly time frames is in descending cycle and warns the possibility of more descend in long term time frame. One of the important warnings for more descend in this currency pair is breaking and closing the descending candles under the 0.81910 level( this price level is protected by two important harmonic patterns and there is the potential for ascending of the price in this range that normally the buyers try to increase the price in this level). Generally the first sign for ascending of the price is formation of a bottom price and recording of it in daily time frame.

FxGlory
2013.03.04

 

[FXGLORY]

Technical analysis of AUD/USD dated 05.03.2013

AUD/USD on 01.06.2012 by creating the ideal bottom price (formation of hammer candlestick pattern) has started to ascend and could record the top price of 1.06234. As it is obvious in the picture below, the price in this currency pair is fluctuating in supportive and resistance level range that generally these levels acted successfully for 6 times. Right now the price by a downfall from the red resistance level has recorded the bottom price of 1.01150. The mentioned bottom price by facing the supportive channel edge and the blue supportive level has been stopped from more downfalls and finally has been ascended and has been reached to the resistance descending channel edge.

In daily time frame of previous day the ideal hammer candlestick pattern is seen that has long lower shadow and cause the failure of sellers in reaching to the lower price and possibility of formation of a bottom price in this range. By fixing of hammer candlestick pattern’s warning (closing of ascending candle at the end of the day) there is a possibility for ascending of price. According to the strong ascend of the price from the bottom price of 1.01150 to the resistance descending channel edge; there is the potential for price reformation in the chart. If the important blue supportive range breaks, the next important target for the sellers is the round level of 1.00000.

FxGlory
2013.03.05

 

[FXGLORY]

Technical analysis of EUR/GBP dated 06.03.13

EUR/GBP during the recent weeks had a strong ascending trend and could record the top price of 0.88132. Right now the mentioned top price is one of the most important and nearest resistance level in front of the price that by breaking of it, the price finds the potential to reach the important resistance level of 0.90000. The price during its ascending trend by reaching to the descending resistance channel edge has been stopped and has made a top price that according to the formed candles is fixed. As it is obvious in the picture below (in daily time frame), the mentioned top price is in 76.4 Fibonacci level that there is the possibility of price reformation according to Fibonacci levels’ properties. In weekly time frame, Stoch indicator is in saturation buy area and in descending cycle also warns the possibility of descending of the next candles.

According to the type of previous week formed descending candles, there is a Dark cloud Cover candlestick pattern that warns stopping of ascending trend to the buyers. The first warning for descending in this currency pair is breaking of the supportive level of 0.85749. Generally until the resistance level of 0.88132 on resistance descending channel is preserved, the price has the potential for reformation and descends in this currency pair.

FxGlory
2013.03.06

 

[FXGLORY]

Technical analysis of Gold dated 07.03.2013

The price in Gold chart on 20.09.2013 is between two important supportive and resistance levels which were successful and prevented passing of price from their own price level. The price could record the bottom price of 1555.77 during its downfall and this bottom price is fixed by the next ascending candles and if this supportive level breaks, the price will have the potential for a downfall and reaching to the important supportive level of 1530.73. As it is obvious in the picture below, between the top price of 1754.26 and the bottom price of 1555.77 there is an ideal AB=CD harmonic pattern that from the D point of this pattern, there is a warning for ascending of price during the next days.Stoch indicator confirms the created bottom price in daily time frame and warns about ascending in the next candles according to the next cycle. According to the closing of previous candles in weekly time frame, there is a Inverted Hammer candlestick patterns that warns the possibility of price changing direction and formation of a bottom price in this price range. One of the warnings for ascending of the price is breaking of the resistance level in 30 minutes time frame. Generally until the bottom price of 1555.77 in daily time frame is preserved, there is the possibility of increase and ascend in Gold chart.

FxGlory
2013.03.07

 

[FXGLORY]

Technical analysis of EUR/JPY dated 08.03.2013

EUR/JPY from the price level of 94.123 was in an ascending trend and could ascend without price reformation during this trend that shows the certainty of buyers in reaching to the pre-determined target price (this was mentioned in technical analysis of 16.08.2012). Right now the price descends from the top price of 127.661 and has recorded the bottom price of 118.735 that it can be a possibility for ascending of the price. The price in weekly, daily, 4H and 1H time frame is above 5-day moving average that shows an ascending trend and increase of price.According to the point that in long term time frames such as weekly and daily there is not a clear reason for descending of price, the possibility of ascending in this currency pair is tangible, so the next target of buyers is the resistance level of 127.661. at least formation of a top price and fixing of it in daily or 4H is necessary for continuing this descending trend.

FxGlory
2013.03.08

 

[FXGLORY]

Technical analysis of USD/ CHF dated 11.03.2013


As it was mentioned in the previous analysis of this currency pair dated 04.02.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened. The price could record the top price of 0.95523 that is fixed in 4H time frame. The price by reaching to the mentioned resistance level (dating back to 13.11.2013) has been stopped that was a midterm target price for the buyers. In long term time frames such as weekly and daily time frames there is no clear reason for descending of the price and the price is above 5-day moving average which warns more ascend in long term intervals.The firs signal for continuing the ascending trend is breaking of resistance level of 0.95523. According to the formed candles in 4H, the buyers have retreated. Right now in 4H time frame the price is in divergence mode with RSI indicator and confirms the top price of 0.95523 in a descending trend. Generally until the mentioned top price in 4H time frame is preserved, the price has the potential for reformation.

FxGlory
2013.03.11

 

[FXGLORY]

Technical analysis of AUD/JPY dated 12.03.2013

AUD/JPY had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 99.546 in 4H time frame which is fixed by descending candle. The price by reaching to the resistance ascending channel edge has been stopped from more ascend and by forming a Shooting Star candlestick patterns( possibility of formation of a top price and changing price direction)and fixing of it by a descending candle has prepared the field for creating a top price and a descending trend.In daily time frame the price by reaching to the resistance level made of 3 top prices has been stopped and by closing of descending daily candle, there is a warning for stopping of ascending trend and buyers trades. As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction. Generally until the mentioned top price on the resistance channel edge is preserved, the price has the potential for reformation and descending in this currency pair.

FxGlory
2013.03.12

 

[FXGLORY]

Technical analysis of GBP/USD dated 13.03.2013

GBP/USD had a strong and without reformation descending trend during the recent weeks and could record the bottom price of 1.48306. As it is obvious in the picture below, the price has been stopped by reaching to the supportive line which is made of 4 bottom prices and has recorded the bottom price of 1.48306 on this line and it is fixed by the next ascending candles. According to the strong downfall of price from the top price of 1.63775, it seems that the price is saturation sell area and there is the possibility of price reformation. In daily time frame with the types of price movements in previous day, hammer candle stick pattern has appeared that warns the formation of a bottom price and the failure of sellers in reaching to the lower prices.The first warning in midterm interval for stopping the descending trend and starting the ascending trend is breaking of the descending red trend line in 4H time frame. Generally according to the recent strong descending trend until the bottom price of 1.48306 is preserved, there is the potential for price reformation in this currency pair.

FxGlory
2013.03.13

 

[FXGLORY]

Technical analysis of AUD/USD dated 14.03.2013

As it was mentioned in the previous analysis of this currency pair dated 05.03.2013, according to the formed signs in this price chart, there was the possibility for ascending of price which finally happened. The price could record the top price of 1.03814 during the recent increase. As it is obvious in the picture below, the price by reaching to the resistance range that is made of 3 top prices has stopped from more ascend and has formed a top price in this range. According to the formed movements in the chart, between the bottom price of 1.01143 and the top price of 1.03814, there us AB=CD harmonic pattern with the ratios of 50 to 161.8 that warns the price descends from the D point of this pattern.

Breaking the D point shows the certainty of the buyers in reaching to the predetermined targets in this currency pair. RSI indicator with the recent ascend is in saturation buy area and shows the possibility of stopping the price in midterm interval but because it is not in the same direction with daily time frame, this signal is not much reliable. Generally according to the formed signs until the D point of this pattern is preserved, the price has the potential for descend in this currency and if the resistance level of 1.03814 breaks, the previous analysis of this currency pair will be reliable.

FxGlory
2013.03.14

 

[FXGLORY]

Technical analysis of USD/ CHF dated 15.03.2013

In the previous technical analysis of this currency pair dated 11.03.2013, according to the formed technical signs, there was the potential for price reformation which finally happened (as it was mentioned there was no clear reason for descending in weekly and daily time frames).the buyers could record the top price of 0.95644 that the price by reaching to this price level is in descending trend range also a resistance level and lose its ability for ascending. Right now with the recent downfall, the 0.95644 top price is fixed and it is under 5-day moving average in 4H time frame that shows the descending of price.

RSI indicator is in saturation buy area and warns the potential for formation of a top price and descending of price according to the next cycle. For the technical analysts, breaking of the ascending channel is an important warning for changing trend direction. Generally until the third point of descending trend line is preserved, the price has the potential for descend and reformation in this currency pair.

FxGlory
2013.03.15

 

[FXGLORY]

Technical analysis of USD/JPY dated 18.03.2012

USD/JPY in recent weeks has a strong ascending trend that shows the serious buyers in reaching to their target prices. The price during this ascending trend could record the top price of 96.688 that is the most important resistance level in front of price. As it is obvious in the picture below, the price has been stopped by reaching to the long term descending trend and is not able to ascend more which is a warning for buyers about changing price direction. According to the recent descend, the price closed under 5-day moving average and warns the potential for more descending.The price in the resistance edge of two Fibonacci levels of 261.8 and 161.8 has formed a top price that is this top price there is an important and ideal Evening star candlestick pattern with 4 stars which is an important warning for the formation of a top price and continuing the descending trend. According to the formed movements in daily time frame, right now the price and RSI indicator are in divergence mode and there is the potential for changing price direction. Generally until the mentioned top price is preserved, the price has the potential for descending and reformation in this currency pair.

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FxGlory
2013.03.18