Daily Technical Analysis by PipSafe

[Pip.Safe]

As it was mentioned in the previous technical analysis of GBP/USD pair dated 2014.03.11, according to the formed technical signs, there was the potential for descending of price which finally happened.Sellers were successful in achieving the lowest level of 1.64661.Right now price is above 5-day moving Daily and H4 time frames that show an uptrend during the next candles.Price has formed a Top price with reaching to the specified resistance zone in the picture below and it has stopped from more ascend and has started a little descend with shows exit of some buyers from their trades.

According to the formed price movements in the chart, between the bottom price of 1.64661 and top price of 1.68209 ,there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that with completion of the D point there will be a warning for descending of price.RSI indicator in H4 time frame is in saturation Buy area that confirms the current top price and warns about changing price direction.Generally until the top price of 1.68209 is preserved, price has the potential of descending. Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.

 

[Pip.Safe]

USD/CHF since 29.07.2012 till now was in a downtrend that sellers were successful in achieving the lowest price of 0.86973. Price during the downfall with reaching to the important supportive level (0.87000) has stopped from more descend and has formed a bottom price in the level of 0.88358.Right now price is above 5-day moving daily time frame that show an uptrend during the next candles.
Currently in long term time frames such as monthly, and weekly , there is not a clear reason for price downfall and also in long period of time there is the possibility of growth of price to the Fibonacci levels of 38.2 in the level of 0.91200 and for the next time to 50% in the level of 0.92600.

As it is obvious in the picture below between the top price of 0.99692 and the bottom price of 0.86973, there is an ideal AB=CD harmonic pattern with the ratios of 78.6 and 127.2 that with completion of the D point (also formation of butterfly pattern in CD wave), there is a potential for ascending of price.Currently according to the condition of this currency pair and its strong downtrend in recent months, price is in saturation sell area and warns about a slight reformation in weekly time frame.

 

[Pip.Safe]

GBP/NZD was in a strong and consistent uptrend during the recent days that buyers were successful in obtaining the highest price of 1.96327. price with reaching to the Down Trendline which is shown in the picture below ( made of 2 Top prices) and the important Resistance level(Support to Resistance) of 1.96327 has stopped from more ascend( Buyers used this level to exit their trades) and with formation of a top price in daily time frame has prepared a field for descending of price.

According to the previous day changes, previous day candle was closed as Spining Top candlestick pattern which shows vulnerability of ascending trend and potential for formation of a Top price in this range.As it is obvious in the picture below, between the Bottom of 1.90822 and Top price of 1.96327 there is AB=CD harmonic pattern with ratios of 61.8 and 127.2 that warns the potential of descending from the D point of this pattern.Generally until the D point in daily time frame is preserved, there is a potential for price reformation and descending.

 

[Pip.Safe]

EUR/GBP in recent days, has been experienced many reformation with a gradual down trend that Sellers down price Reduced obtained the lowest price of 0.81977.As it is obvious in the picture below, price during the descending has touched the Up trendline (made of 2 bottom prices) and also the round supportive level of 0.82000(some sellers used these levels to leave their trades). and has created the Harami candlestick pattern. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.

Right now price is over 5-day moving average in H4 and H1 time frames and warns about more ascend. Stoch indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about descending of price during the next candles.Generally until the price level of 0.81977 is preserved, price will have the potential for reformation and ascending.

 

[Pip.Safe]

EUR/AUD chart has experienced a descending trend during the recent week that could record the bottom price of 1.46553. One of the sellers’ targets was the level of 127.2 (AB=CD Pattern) that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price.

Right now price is above 5-day moving daily time frame that show an uptrend during the next candles.Formation of Shooting Star and Hanging Man candlestick patterns with thin body in green area shows indecision market and vulnerability of ascending trend.AS it is obvious in the picture below, there is an non-ideal AB=CD harmonic pattern between the top price of 1.58246 and the bottom price of 1.46553 with ratios of 61.8 and 127.2 that warns the ascending of price from the D point( the first warning for ascending is breaking of the resistance level of 1.49650). Stoch indicator is in saturation sell area that confirms the current harmonic pattern with the next cycle but because of non-compliance and coordination with larger time frame(Monthly Time frame), this signal is not much valid. The first warning in this currency pair for descending of price is breaking of the supportive level of 1.46553.

 

[Pip.Safe]

Gold from the top price of 1392.716 till now was in a downtrend that Sellers were able to achieve the lowest price of 1268.477.As it is obvious in the picture below, price during the descending has touched the Support Level of 1277.658 and has created the hammer candlestick pattern. Formation of the lower long shadow(Hammer Pattern) in the last week candle shows the failure of Sellers in reaching to the lower prices. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.

Right now price is above 5-day moving Monthly and daily time frames that show an uptrend during the next candles.Currently the first warning for increasing of price is breaking of the resistance level of 1306.402. Stoch indicator in weekly time frames in saturation sell area and with the next cycle warns about ascending of price(also monthly) during the next candles. Generally until the bottom price of 1268.477 is preserved, price will have the potential for ascending and reformation.

 

[Pip.Safe]

AUD/USD during the recent week was in a Down trend that sellers were successful in achieving the lowest price of 0.92273. Currently in daily time frame price with touching the ascending trend line (made of 4 price levels) and forming a bottom price has prepared a field for ascending. (sellers used this level to leave their trades).Right now price in short time frames such as H4 and H1 is above 5-day moving average and warns about price increase in short period of time.

As it is obvious in the picture below, between the top price of 0.94600 and bottom price of 0.92273 there is AB=CD harmonic pattern with ratios of 38.2% and 224% that warns the potential of ascending from the D point of this pattern.Stoch indication in Daily and H4 time frame is in saturation sell area and with the next cycle confirms the 5th point of ascending trend line and warns about ascending during the next candles. Generally according to the current situation, until the bottom price of 0.92273 is preserved, price has the potential for reformation of downtrend.

 

[Pip.Safe]

EUR/USD has experienced a Uptrend during the recent month that the buyers were successful in achieving the lowest price of 1.39672.Right now price is above 5-day moving average in long term time frames such as monthly, weekly and daily that shows a consistent Uptrend in long period of time.Price during the downfall with reaching to the Up Trendline( with several bottom price) has stopped from more descend and has formed a bottom price in the level of 1.37744.

If price rises and buyers success one of the price targets would be alterant level of 1.39000(or red resistance level)According to the condition of this currency pair, there is no clear reason for descend. There is formation of recursive candle patterns or one descending candle in daily chart which is the least acceptable sign for price reformation.

S1: 1.38512

S2: 1.37900

R1:1.39000

R2: 1.39400

 

[fxstrategist]

The EURUSD is not going any where unless we get an NFP and unemployment rate reading way off the forecast. This pair will most likely remain range bound until the FED or the ECB decides to act.

 

[Pip.Safe]

Silver chart has experienced a strong descending trend during the recent week that could record the bottom price of 18.857. One of the sellers’ targets was the round level of 19.000 that they were successful in reaching to it and the price was not able to descend more by reaching to this level.

As it is obvious in the picture below, price during the descending has touched the Up Trendline (made of 3 bottom prices) and also the round supportive level of 19.000 has created the hammer candlestick pattern. Closing of the bullish candle (Engulfing Pattern) after this pattern will confirm it and warns about ascending of price .Currently price in Daily and H4 time frames is above 5-day moving average that shows ascending of price during the next candles.RSI indicator in Daily time frame is in saturation sell area and with the next cycle warns about ascending of price during the next candles .Generally until the mentioned bottom price is preserved, there is the potential for downtrend reformation.