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ForexTechnical Analysis(FxGlory)

Discussion in 'Market Predictions and Reports' started by FXGLORY, May 4, 2012.

  1. FXGLORY

    FXGLORY FxGlory Representative

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    Technical analysis of USD/CAD currency pair 05.04.2012

    Right now, in the daily chart of this currency pair the dominant trend of the market is the descending trend which is weak. Considering the strong ascend of the price on 07.24.2012, this descending trend is like a reformation of the price. In this time frame, the price is surrounded by two resistance lines which are determined by the red and blue color which played their role very well for several times.
    Whenthe price reached the blue resistance line on 26th and 27th of April, it lost its power for more descending and fall, also this resistance lines prevent more descend movement of the market.
    Right now, there is a possibility for an ascendingmovement of the price and reaching the red resistance line. Also the Formationof a positive divergence between the price and RSA indicator empower this possibility.

    The most important resistance and supportive levels:

    R= 0.98990
    S= 0.98300

    Written by the technical team of FxGlory Brokerage

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  2. FXGLORY

    FXGLORY FxGlory Representative

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    Technical analysis of EUR/USD 07.05.2012

    As we predicted in our last technical analysis on EUR/USD, this currency pair started a descending trend from 1st of May and reached the minimum goal which was predicted by the analyzers for this trend.

    Right now, this currency pair is located in very important supportive levels which prevent more falling of the price. At this moment, there is a Hammer candle stick pattern in 4h time frame which shows that the seller are forces to retreat temporarily and also shows the price is going down.

    Please consider that, price is out of the selling area and some of the sellers tend to cash their positions. Also, It is possible that the price reform this descending trend partly.

    Written by the technical team of FxGlory Brokerage


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  3. FXGLORY

    FXGLORY FxGlory Representative

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    The technical analysis of USD/CHF 08.05.2012

    The ascending of the price of USD/CHF on 1st of May was under the influence of an ascending trend as we mentioned it in our former technical analysis. Right now, the price passed the resistance level which is determined in the below picture and it registered the new price 0.92653. After the registration of a new price, the buyers will start making cash their trades and finally this will cause the fall of the price. Afterthe fall, the price will be stopped in the change of polarity level (after breaking of the red resistance level becomesthe supportive line) which is determined by the blue color.

    Change of polarity level which right now is considered as the supportive line is playing its role very well. When the change of polarity line plays its role as a supportive line, it is helped by an ascending trend line. This ascending trend line, also, issued a warning of ascend and jump of price.

    Right now, these two elements are preventing the falling of the price and therefore, they create a bottom price in this area. As far as remaining of the price in this level (0.91945), we cannot expect ascending of the price to the 0.92500 level.

    Written by the technical team of FxGlory Brokerage


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  4. FXGLORY

    FXGLORY FxGlory Representative

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    Technical analysis of EUR/USD 09.05.2012

    As we mentioned in our previous analysis EUR/USD was located in saturation area of sell and according to our prediction the price started its ascending movement. Right now, this currency pair has reached the supportive levels which it was not able toreach these levels on 7th of May. We predict that as far as these supportive levels are preventing fall of the price, the buyers like to reach and even pass this supportive line which is determined by red color in the following picture.

    The price is in the situation of “ sellsaturation” and we expected that EUR/USD reforms its previous trend. If this reformation of the price could create a good gap between itself and the supportive levels, the price would start an ascend.In this moment, the sellers are waiting to see the reaction result of the price to these supportive levels.

    Written by the technical team of FxGlory Brokerage

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  5. FXGLORY

    FXGLORY FxGlory Representative

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    Technical analysis of USD/CHF 10.09.2012

    The USD/CHF currency pair is in an ascending trend right now. This ascending trend has been started on 1st of May from the third point. if the ascending trend line which we predicted in our last analysis about USD/CHF.

    At the present moment, the ascending trend is stopped and it is obvious that there is an important resistance level which you can see it in the below picture. This transformative level has been tested twice and it was successful to issue the warning of falling of the price. In the 4H time frame a top price is forming and between considering different candles which are located under the resistance level we can understand that there is a war between sellers and buyers which none of them are successful to win the battle.

    It is good to remember that in this time frame there is potentiality of descend of the price and formation of a reform in the price. In analyzing the 1h time frame there is a transformative level which plays the role of a supportive level and prevents the falling of the price. If the price breaks this line and passes it, it is possible that we see the descending trend and the reformation of the price.

    The most important resistance levels:

    R1= 0.93000

    R2= 0.93350



    Written by the technical team of FxGlory Brokerage

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  6. FXGLORY

    FXGLORY FxGlory Representative

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    Technical analysis of AUD/USD 11.05.2012

    The AUD/USD currency pair has been in a strong descending trend from 30th of April. Right now, this currency pair is got stuck in the ascending trend. In the weekly chart of this currency pair, you can draw a supportive level which is preventing the falling of the price by connecting two bottoms of the price.

    It is soon that we think this descending trend is finished and an ascending trend starts. But, by analyze of the daily and weekly charts we can find some signs of finishing of the descending trend and start of a reformation in the price.

    In picture number two, as you can see, there is a descending channel price which is reached to the supportive level and causes the formation of two important “Candle stick patterns”:
    • Inverted Hammer Pattern
    • Harami Pattern

    Both of these candle stick patterns issue the warning of “bottom price” and the possibility of an ascending from them which is the symbol of sellers’ failure. Moreover, the price is in the situation of saturation also the Stoch indicator confirms this and issues a signal for formation of a “bottom price” with its waves.

    On the whole, by considering the severe falling of the price and without a chance of reformation from 30th of April, we can expect an ascending in the price and reformation of the descending trend from this bottom price until the price reaches the 1.00209 level.

    The most important resistance and supportive levels:

    R2= 1.01411

    R1= 1.02234


    S= 1.00209


    Written by the technical team of FxGlory

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  7. FXGLORY

    FXGLORY FxGlory Representative

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    Daily technical analysis of USD/JPY

    The USD/JPY currency pair broke its descending trend in weekly chart after several years. You can see the descending trend line of this currency pair with 5 top prices which is finally broker after passing of the price from this line.

    In the weekly chart, the price formed a hammer pattern which indicates the possibility of formation of a bottom price in this area and therefore causes an ascending in the price. Also, locating of Stoc indicator in the saturation area of selling empowers this theory. The hammer candle stick is formed in a transformative level which is drawn in the picture 2 increase the accuracy of the warning about the end of descending trend. As far as the existence of the 79.535 and 79.429 as the price levels which prevent the falling of the price we can expect the ascending of the USD/JPY.


    Written by the technical team of FxGlory

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  8. FXGLORY

    FXGLORY FxGlory Representative

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    Daily technical analysis of USD/JPY

    As we mentioned in the previous technical analysis of FxGlory about USD/JPY currency pair, there were some evidence about starting an ascending trend of the price and the end of the descending trend. Right now, our previous predication comes to reality and the price started to go up from 9th May.

    We can find out from the weekly chart of this currency pair that this ascending trend will continue its movement or not. According to the signs which we can see in the market, we can expect the continuity of this ascending trend. As you can see in the below picture the price is closed above the average of the changes of recent 5 days and until when the supportive level of 79.421 is there and plays the role of a bottom price, there is the hope of starting of an ascending trend of the price and reaching the important resistance level of 81.700

    Written by the technical team of FxGlory Brokerage

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  9. FXGLORY

    FXGLORY FxGlory Representative

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    Technical analysis of USD/CHF 05.17.2012
    Written by the technical team of FxGlory Brokerage


    The price continued its ascending trend without any special reform in it, after itascended in third point of ascending trend line on 1st of May. Right now, by considering the rules of trend lines and channels, we can draw an ascending channel of the price in this currency pair.

    As you can see in the below picture we drew this channel to have a clear view for predicting the market movement. By considering formation of Rickshaw Man Pattern we can easily understand that the market cannot decide about its next movement and there is the possibility of formation of a top price and consequently the fall of the price. Also, because the Stoch indicator is located in saturation buying area, there is the possibility of descending of the price and reforming of the ascending trend which has been begun now.

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  10. FXGLORY

    FXGLORY FxGlory Representative

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    Technical analysis of USD/CHF 05.21.2012


    The USD/CHF has formed a top price on the supportive level which is indicated by red line and also the price is closed under the average of last 5 days. As we mentioned in our last technical analysis about this currency pair, there was the possibility of formation of a reformof the price and formation of a top price in this area. Due to some basic news this reform and formation happened with a delay.

    Considering that the price is reached the resistance level of the ascending channel in daily time frame and also, the descending movement of Stoch indicator and finally, the formation of a top price in this area, it is much risky to open a buy position now.

    Until when this top price and resistance level of 0.94971 are not broken, there is the possibility of falling of the price and reform of the previous trend. We can mention the supportive level of 0.93361 as one of next most important supportive levels.

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