ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of GBP/CHF dated 06.02.2013

GBP/CHF during the past two weeks had a strong descending trend without reformation and could record the bottom price of 1.41815. The price by reaching to the determined supportive levels could not pass of them and they prevented the price downfall. The price had a downfall from the top price of 1.50016 that seems some of the sellers try to withdraw the profit of their trades and leave the market. Formation of a strong ascending candle in 4H time frame (8:00) confirms this matter.
According to the recent ascending trend the price could break the descending trend line (that prevented ascending of price three times) and it is a warning for changing price direction. RSE indicator is saturation sell area in daily time frame and in 4H time frame is in divergence mode with the price chart and warns the potential of changing price direction. Generally until the price level of 0.41753 is preserved, the price has the potential for reformation in this currency pair.

FxGlory
2013.02.06

 

[FXGLORY]

Technical analysis of AUD/NZD dated 07.02.2013

AUD/NZD is in long term interval of a descending trend and could record the bottom price of 1.22196. By breaking this level the price will find the ability to reach the important supportive level of 1.21000. Yesterday candle with a small body shows indecision market to ascend or descend and this is a warning for sellers in changing price direction (it is a need for confirmation of other factors). Between the top price of 1.30727 and the bottom price of 1.22196 there is a non-ideal AB=CD harmonic pattern with the ratios of 61.8 and 127.2 that with completing the D point of this pattern, there is a warning for ascending of the price.

An interesting point is the formation of a butterfly pattern inside the AB=CD pattern that simultaneously shows changing of price direction. RSI indicator is in saturation sell area that supports the price level of 1.22196 and generally warns about changing of price direction. According to the formed signs until the price level of 1.22196 is preserved, the price has the potential for ascending and reforming of the previous descending trend in this range.

FxGlory
2013.02.07

 

[FXGLORY]

Technical analysis of AUD/JPY dated 08.02.2013

AUD/JPY from 09.10.2012 had a strong ascending trend with little reformation that shows the decision of buyers in reaching to the long term targets. This currency pair during its movement could record the top price of 97.419. The price by reaching to the psychic level of 97.000 could not pass it and retreated which the usage ability of this level can be seen in 1H time frame. As it is obvious in the picture below, between the bottom price of 71.993 and the top price of 97.419, there is AB=CD harmonic pattern with the ratios of 78.6 and 161.8 that the D point of this pattern is completed and warns about descending of the price.RSI indicator confirms the mentioned top price and it is in saturation buy area and also by being in divergence mode with the price chart warns about the price changing direction. Until the top price of 97.419 is preserved, the price has the potential for reformation of ascending trend.

FxGlory
2013.02.08

 

[FXGLORY]

Technical analysis of AUD/USD dated 11.02.2013

AUD/USD during its ascend from the bottom price of 0.95727 could record the top price of 1.05981 and stopped after testing the next resistance levels. As it is obvious in the picture below, the price by reaching to the descending trend line could not pass it and the buyers retreated. Generally this descending trend line could prevent the price ascending and increase twice. After formation of the 4th point of descending trend line, the price has a downfall and it is under 5-day moving average.According to the recent downfall the 4th top price on the descending trend line shows that the price can reach to the lower price so one of the price targets will be the supportive level of 1.01400. According to the Stoch indicator in daily and weekly time frames, the potential for descending of price and the top price of 1.05981 has been confirmed. Generally until the 4th point of descending trend line is preserved, there is a possibility for descending during the next weeks.

FxGlory
2013.02.11

 

[FXGLORY]

Technical analysis of EUR/USD dated 12.02.2013

EUR/USD during its ascend from the bottom price of 1.26546 could record the top price of 1.37066. This currency pair by reaching to the obstacle such as the Fibonacci level of 200 (resistance level) and the round price level of 1.37000 has been descended. Right now the top price of the top price of 1.37066 is fixed by the previous week descending candles and if this resistance level breaks, there will be the potential for ascending trend in this pair. As it is obvious in the picture below, in the mentioned top price, there is a Engulfing candlestick pattern which is a sign for overcoming the pressure of sell to buy and a warning for ending of the ascending trend.

Between the bottom price of 1.20416 and the top price of 1.37066 there AB=CD harmonic pattern with non ideal ratios that by completing the D point there is a warning for changing in price direction. Stoch indicator is in saturation buy area and shows the possibility of descending of the price according to the next cycle. In daily time frame of this currency pair the bottom price of 1.33514 is formed that by breaking of this level, there is first warning for more descend. Generally according to the formed signs in weekly time frame, until the top price of 1.37066 is preserved, the price has the potential for reformation.

FxGlory
2013.02.12

 

[FXGLORY]

Technical analysis of EUR/USD dated 12.02.2013

EUR/USD during its ascend from the bottom price of 1.26546 could record the top price of 1.37066. This currency pair by reaching to the obstacle such as the Fibonacci level of 200 (resistance level) and the round price level of 1.37000 has been descended. Right now the top price of the top price of 1.37066 is fixed by the previous week descending candles and if this resistance level breaks, there will be the potential for ascending trend in this pair. As it is obvious in the picture below, in the mentioned top price, there is a Engulfing candlestick pattern which is a sign for overcoming the pressure of sell to buy and a warning for ending of the ascending trend.

Between the bottom price of 1.20416 and the top price of 1.37066 there AB=CD harmonic pattern with non ideal ratios that by completing the D point there is a warning for changing in price direction. Stoch indicator is in saturation buy area and shows the possibility of descending of the price according to the next cycle. In daily time frame of this currency pair the bottom price of 1.33514 is formed that by breaking of this level, there is first warning for more descend. Generally according to the formed signs in weekly time frame, until the top price of 1.37066 is preserved, the price has the potential for reformation.

FxGlory
2013.02.12

 

[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