ForexTechnical Analysis(FxGlory)

[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

 

[FXGLORY]

Technical analysis of USD/CHF dated 22.11.2012

As it was mentioned in the previous analysis of this currency pair dated 14.11.2012, according to the formed signs, there was the possibility of descending of the price which finally happened. One of the price targets is the descending AB=CD pattern with the Fibonacci level of 61.8 from CD wave. Right now the price during its descend has reached to the ascending trend line which is breaking and passing this supportive line.The bottom price of 0.93574 has formed but it needs the confirmation of the next ascending candles, and this price has not recorded yet. There is no clear reason for ascending of price and the price has been closed under 5-Day moving average and there is the possibility of more descends. as it is obvious in the picture below , the price during its descend from the top price of 0.95117 has formed the ascending AB=CD pattern with 78.6 and 127.2 ratios which the D point of this pattern is completed , but the buyers must wait for the record of t his bottom price for ascending . Breaking of the ascending trend line and the D point of harmonic pattern shows the continuous descend and powerful descending trend line.

FxGlory
2012.11.22

 

[FXGLORY]

Technical analysis of EUR/GBP dated 23.11.2012

As it was mentioned in the previous analysis of this currency pair dated 12.11.2012, according to the formed signs, there was the possibility of the price ascends which finally happened. The price by making the third point on ascending trend line at the level of 0.79587 and fixing of it starts to ascend and there is no clear reason for descending in the daily time frame .as it is obvious in the picture below, the price on 15th day reached to the target price which Wolfe Wave pattern was predicted and after that decreased. This shows the importance of the technical pattern in analysis.Right now the price by breaking the resistance level of 0.80639 and being above the 5-day moving average, there is the possibility of more ascends during the next days. Stoch indicator is near the saturation buy area and warns the possibility of increase of the price during of the next candles. Generally until there is no sign for the formation of a top price in daily time frame, the price has the potential for more ascend in this currency pair.

FxGlory
2012.11.23

 

[FXGLORY]

Technical analysis of GBP/JPY dated 26.11.2012

GBP/JPY during the previous days had a good ascending trend without price reformation and could record the top price of 132.414 which is the nearest level in front of the price. The price by reaching to the resistance edge of ascending channel has made a top price that by closing of descending candle under the this resistance edge this top price will be confirmed . as it is obvious in the picture below , the price during its ascend has formed the AB=CD harmonic pattern with the non ideal 78.6 and 161.8 ratios which by completion of the D point of this pattern , there will be a warning for descending of the price.RSI indicator is in saturation buy area in daily time frame also in divergence mode with the price chart that warns the possibility of descending of the price. Generally until the top price of 132.414 is preserved, the price has the potential of descending and the ascending trend reformation.

FxGlory
2012.11.26

 

[FXGLORY]

Technical analysis of NZD/USD dated 27.11.2012

As it was mentioned in the previous analysis of this currency pair dated 16.11.2012, according to the technical formed signs there was the possibility of the price ascend from the bottom price of 0.80776 which finally happened. The mentioned bottom price is formed on ascending trend line and the supportive edge of descending channel that recording this bottom price ( by the next ascending candle ) there is a warning for ascending of price . The price during its ascend has recorded the resistance level of 0.82475 and it has been stopped from more ascend by reaching to the resistance edge of descending channel. The first important warning for more descend is the breaking of the supportive level of 0.82109 which is the lowest changing level candle on 26th day. According to the weekly time frame of this currency pair which there is more ascending trend , if the bottom price of 0.82109 is preserved ,there will be the possibility of more ascend and catching the resistance edge of descending channel ( second ) . Generally now the price is not able to pass the resistance edge of descending channel (first) and until this top price is preserved on the level of 0.82475, there is the possibility of descending of the price.

FxGlory
2012.11.27

 

[FXGLORY]

Technical analysis of GBP/USD dated 28.11.2012

As it was mentioned in the previous analysis of this currency pair dated 19.11.2012, according to the technical formed signs there was the possibility of the price ascend which finally happened. The price ascends by making a bottom price on the level of 1.58277 and recording of it by ascending candle on 16th day and during this ascend could record the top price of 1.60542 . Right now the price has been stopped from ascending trend and there is a descending trend in the price chart.Formation of two candles with Small Body (formation of Hanging Man candlestick pattern is an important warning for the buyer’s loss in more ascend) after the big ascending candle on 23rd day shows indecision market for reaching to higher prices. The formed top price is on the resistance Fibonacci level of 61.8 which the price must break this level for more ascend and if not there is the possibility of reformation and downfall by this technical tool. Stoch indicator is in saturation buy area in daily time frame and warns the possibility of decrease of the price according to the next cycle. Generally until the top price of 1.60542 is preserved, there is the potential for decrease and descend of the price in this currency pair .

FxGlory
2012.11.28