Daily Technical Analysis by PipSafe

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USD/JPY was in a consistent descending trend that sellers during this descending trend were successful in achieving the lowest price level of 100.763.According to the recent downfall, in weekly and daily time frames price is under 5-day moving average and warns about more descending during the next candles.As it is obvious in the picture below, there is a harmonic butterfly pattern between the bottom price of 95.818 and the top price of 105.421 that there is a potential for changing price direction from D point of this pattern.

RSI 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.Price is going toward the support level of 101.320 (the important psychic level of Sellers) and there is not any clear reason of buy signal in long term time frames such as daily and weekly.Generally until the top price of 104.138 is preserved, there is a potential for descending and price reformation in this currency pair.

 

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USD/CHF during the recent Days was in a strong and consistent Downtrend that sellers were successful in achieving the lowest price of 0.87202.Price during the downfall with reaching to the Fibonacci level of 161.8 ABC pattern has stopped from more descend and has formed a bottom price in the level of 0.87202.Currently in H4 AND H1 time frames price is above 5-day moving average that warns about the potential of ascending of price during short period of time.

AS it is obvious in the picture below, there is an ideal AB=CD harmonic pattern between the top price of 0.86610 and the bottom price of 0.87202 with ratios of 78.6 and 161.8 (also formation of butterfly pattern in CD wave), that warns the ascending of price from the D point.RSI indicator is in saturation Sell area and confirms the current bottom price, also wars about formation of a bottom price.Generally until the price level of 0.87202(D Point)is preserved, price will have the potential for reformation and ascending.

 

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CAD/CHF form 2012 till now was in a strong and coherent descending trend that sellers strictly followed their descending price targets. Price during the recent downtrend was able to record the bottom price of 0.78000 and it is fixed by the ascending candles. The mentioned bottom price is One of the lowest price in the history of this currency pair and generally the price is in a saturation sell area. As it is obvious in the picture below, price during the descending has touched the lower median line and also the round supportive level of 0.78000 and has created the Spining Top candlestick pattern. Closing of the bullish candle(Engulfing pattern) after this pattern will confirm it and warns about ascending of price.

Also In monthly time frame of this currency pair, there is a non-ideal hammer candle stick pattern that warns about the potential for formation of a bottom price and ascending of the price for buyers.RSI indicator in weekly and Monthly time frame is in saturation sell area and with the next cycle confirms the current bottom price and warns about the potential of ascending during the next candles. Generally according to the formed signs in this price chart, until the bottom price of 0.78000 is preserved, there will be the potential for ascending and price reformation in this currency pair.

Technical analysis of CAD/CHF dated 2015.05.08

 

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CAD/CHF form 2012 till now was in a strong and coherent descending trend that sellers strictly followed their descending price targets. Price during the recent downtrend was able to record the bottom price of 0.78000 and it is fixed by the ascending candles. The mentioned bottom price is One of the lowest price in the history of this currency pair and generally the price is in a saturation sell area. As it is obvious in the picture below, price during the descending has touched the lower median line and also the round supportive level of 0.78000 and has created the Spining Top candlestick pattern. Closing of the bullish candle(Engulfing pattern) after this pattern will confirm it and warns about ascending of price.

Also In monthly time frame of this currency pair, there is a non-ideal hammer candle stick pattern that warns about the potential for formation of a bottom price and ascending of the price for buyers.RSI indicator in weekly and Monthly time frame is in saturation sell area and with the next cycle confirms the current bottom price and warns about the potential of ascending during the next candles. Generally according to the formed signs in this price chart, until the bottom price of 0.78000 is preserved, there will be the potential for ascending and price reformation in this currency pair.

Technical analysis of CAD/CHF dated 2015.05.08

 

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GBP/USD 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 1.70000 in Weekly time frame which is fixed by descending candle(Shooting Star Pattern).The price by reaching to the resistance Up Channel edge and also the round resistance level of 1.70000 (buyers use these levels to exit their trades) has been stopped from more ascend and by forming a Harami 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.

Currently price is under 5-day moving average in daily and 4H time frames that warns about descending of price during the next candles.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the bottom price of 1.62491 and the top price of 1.70000 with none-ideal ratios of 61.8 to 127.2 that warns about descending of price from the D point of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is Daily time frame which generally warns the possibility of changing price direction.Generally until the price level of 1.70000 is preserved, price will have the potential for reformation and descending.

 

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GBP/USD 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 1.70000 in Weekly time frame which is fixed by descending candle(Shooting Star Pattern).The price by reaching to the resistance Up Channel edge and also the round resistance level of 1.70000 (buyers use these levels to exit their trades) has been stopped from more ascend and by forming a Harami 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.

Currently price is under 5-day moving average in daily and 4H time frames that warns about descending of price during the next candles.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the bottom price of 1.62491 and the top price of 1.70000 with none-ideal ratios of 61.8 to 127.2 that warns about descending of price from the D point of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is Daily time frame which generally warns the possibility of changing price direction.Generally until the price level of 1.70000 is preserved, price will have the potential for reformation and descending.

 

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AUD/CAD in recent weeks, has been experienced many reformation with a gradual Down trend that sellers down price increases obtained the lowest price of 1.01133.Currently price in weekly  and H4 time frames is under 5-day moving average that shows descending of price during the net candles. In Weekly time frame of this currency pair, the price is closed by passing the ascending trend line( made of 9 bottom prices)  and breaking of it under the 5- day moving average and there is the possibility of more descends.

With formation of Shooting star candlestick pattern in daily time frame, there is a warning for Vulnerability of uptrend and formation of a Top price. As it is obvious in the picture below, there is Gartley pattern between the bottom price of 0.91723 and the top price of 1.03486 that there is a potential for ceasing of price from D point of this pattern. Generally until the price level of 1.02611 is preserved, price will have the potential for reformation and descending.

Technical analysis of AUD/CAD dated 2014.05.15

 

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As it was mentioned in the previous analysis of this currency pair dated 27.03.2014, according to the technical formed signs there was the possibility of the price descend which finally happened.Sellers were successful in reaching to the lowest price of 1.48314 and after that the price has started to increase. The price by reaching to the Up Trendline (made of 4 bottom prices) which is drawn in the picture below could not pass the supportive level and by forming the bottom price of 1.48314(Hammer Pattern) provides a field for price reformation. Right now price is over 5-day moving average in daily and 4H time frames and warns about more ascend.

As it is obvious in the picture below, between the Top price of 1.55842 and the bottom price of 1.48314 there is none-ideal AB=CD harmonic pattern with the Fibonacci ratios of 50 and 127.2 (also Butterfly harmonic pattern) that warns about ascending of the price.RSI 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 frames(such as weekly and monthly), this signal is not much valid. Generally according to the formed signs in daily time frame, until the bottom price of 1.48314 is preserved, the price has the potential for reformation.


Technical Analysis of EUR/CAD dated of 2014.05.21

 

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As it was mentioned in the previous analysis of this currency pair dated 27.03.2014, according to the technical formed signs there was the possibility of the price descend which finally happened.Sellers were successful in reaching to the lowest price of 1.48314 and after that the price has started to increase. The price by reaching to the Up Trendline (made of 4 bottom prices) which is drawn in the picture below could not pass the supportive level and by forming the bottom price of 1.48314(Hammer Pattern) provides a field for price reformation. Right now price is over 5-day moving average in daily and 4H time frames and warns about more ascend.

As it is obvious in the picture below, between the Top price of 1.55842 and the bottom price of 1.48314 there is none-ideal AB=CD harmonic pattern with the Fibonacci ratios of 50 and 127.2 (also Butterfly harmonic pattern) that warns about ascending of the price.RSI 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 frames(such as weekly and monthly), this signal is not much valid. Generally according to the formed signs in daily time frame, until the bottom price of 1.48314 is preserved, the price has the potential for reformation.


Technical Analysis of EUR/CAD dated of 2014.05.21

 

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USD/JPY from Top price of 104.124 was in downtrend that Sellers could achieve the lowest level of 100.836. Price has been stopped from more descending with reaching to the specified supportive level(Support Zone) and with closing of the bullish candle(Spinning Top!), there is a warning for changing price direction. Formation and repeating the Hammer and Spinning Top candlestick patterns on 19st, 20th and 21th days shows indecision market in ascending or descending and vulnerability of downtrend which prepare the field for formation of a bottom price.

Right now price is above 5-day moving average in short term time frames such as H4 and H1 daily that shows a consistent uptrend in short period of time. As it is obvious in the picture below between the top price of 103.010 and bottom price of 100.836, there is AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that warns about the potential for ascending of the price. Stoch indicator is in saturation sell area and in divergence mode with the price chart confirms the D point of harmonic patterns and warns about potential of ascending during the next candles. Generally according to the current situation until the bottom price of 100.836 (D harmonic point) is preserved m there is a potential for ascending and increasing of the price in short period of time.

Technical Analysis of USD/JPY dated 2014.05.22