ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of GBP/USD dated 25.03.2013

As it was mentioned in the previous analysis of this currency pair dated 13.03.2013 according to the formed signs in this price chart, there was the possibility of ascending of price which finally happened. Right now in daily time frame the price is closed above 5-day moving average and could record the top price of 1.52590. Also in weekly time frame the previous week candle was above 5-day moving average and Stoch indicator is in ascending cycle and warns the possibility of ascending of the price during the next weeks. As it is obvious in the picture below , the price has been stopped by reaching to the descending trend line ( made of 2 peak prices) during the ascending trend and has recorded the top price of 1.52590 that warns descending and reformation of the price during the next candles.

Right now according to the formed movements in the chart, there is an important Inverted head and shoulders pattern that warns changing price direction from descending to ascending trend. According to the point that in this pattern usually there is a short reverse to the Neck line; one of the possible targets of a downfall from the top price of 1.52590 can be the Neck line of this pattern. The first warning for starting and continuing the ascending trend is breaking of the descending trend line in this currency pair.

FxGlory
2013.03.25

 

[FXGLORY]

Technical analysis of EUR/AUD dated 26.03.2013

EUR/AUD during the recent weeks by breaking and crossing the ascending trend line (with 4 bottom prices) has experienced a strong descending trend and could record the bottom price of 1.22556. Right now in daily and weekly time frames, the price is under 5-day moving average that shows the strong descending trend and warns about more descending. As it is obvious in the picture below, the price is in descending channel and could touch the supportive edge of this channel. In 4H time frame, the formation of candles with small body and hammer candlestick pattern (shows stoppage of descending and indecision market) shows that most of the sellers use this supportive level for analyzing their trades.

Stoch indicator in 4H time frame is in saturation sell area and warns about price reformation according to the next cycle ( also it confirms hammer candlestick pattern). according to the selling pressure and strong descending trend in this currency pair, this signal does not have a high validity. If the bottom price of 1.22556 breaks, the price has the potential of reaching to the supportive range which is shown in the picture below. One of the important warning to end the descending trend and starting of the price reformation is formation of a bottom price and breaking of the descending channel in daily time frame.

FxGlory
2013.03.26

 

[FXGLORY]

Technical analysis of AUD/USD dated 27.03.2013

AUD/USD was in ascending trend from the bottom price of 1.01137 that during this ascending trend the buyers could record the top price of 1.04950. The price by reaching to the descending trend line (made of several peak prices) has been stopped from more ascending and right now is in the price reformation condition.In 4H time frame the top price of 1.04950 has been recorded and the Stoch indicator by being in a descending cycle confirms the mentioned top price but because of not being confirmed by the larger time frame, it does not have a high validity.

Right now the next important resistance level is the round level of 1.05000 that buyers tried to get this price yesterday at 5 PM and finally they were successful. Generally if this resistance level breaks, the price will find the potential for ascending and reaching to the resistance range which is shown in the picture below.In weekly time frame of this currency pair there is no clear reason for descending of the price and the price by being above the 5-day moving average and also ascending cycle of Stoch indicator warns about going forward to the resistance levels.One of the important warnings for starting the price downfall is breaking the ascending trend line (made of three bottom prices) in 4H time frame.

FxGlory
2013.03.27

 

[FXGLORY]

Technical analysis of NZD/CHF dated 28.03.2013

NZD/CHF during the recent days had an ascending trend that could record the top price of 0.79926. as it is obvious in the picture below, the price by reaching to the long term descending trend line ( made of 2 peak prices)dated back to the 2010 has been stopped and the buyers were unable to pass this resistance line.According to the formed movements in the price chart, between the bottom price of 0.76471 and the top price of 0.79926 there is an AB=CD harmonic pattern with the ideal ratios of 61.8 and 161.8 which the D point of this pattern is completed and warns about descending of the price in this price range. Stoch indicator in 4H time frame is in the saturation buy area and is in divergence mode with the price chart that warns about changing price direction.According to this point that in long term time frames, price is above 5-day moving average and there is not any clear reason for descending of the price, if the price level of 0.79926 and descending trend line breaks, the price will find a potential for going toward the targets such as the important round level of 0.80000 and 0.81329 level.

FxGlory
2013.03.28

 

[FXGLORY]

Technical analysis of Gold chart dated 29.03.2013


As it was mentioned in the previous technical analysis of Gold on 07.03.2013, according to the formed signs in the chart there was the possibility of price ascend that finally happened and it is still valid for this chart. The price has been stopped in its downfall by recording the bottom price of 1593.88. As it is obvious in the picture below, the price by reaching to the ascending trend line made of 7 peak prices has been stopped from more descending and the buyers are hopeful about ascending of price from this supportive level.Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the created bottom price and warns about the possibility of price ascend. In case of ascending of the price, one of the buyers target will be the drawn resistance line. One of the important warnings is breaking the resistance level of 1616.74 for ascending of the price and leaving this range (which is the top price level in previous week).

FxGlory
2013.03.29

 

[FXGLORY]

Technical analysis of GBP/AUD dated 01.04.2013

GBP/AUD is in a long term descending trend that right now is in the lowest price levels during the recent 20 years. The price in this currency pair during the descending trend could record the bottom price of 1.43759. as it is obvious in the picture below, the price by reaching to the blue supportive level ( made of 2 bottom prices) has been stopped from more descending . In weekly time frame formation of candles with long lower shadow shows the sellers failure in reaching to the lower prices and warns about the potential for formation of a successful bottom price for increasing of the price.According to the formed movements in the price chart, between the top price of 1.61781 and the bottom price of 1.43759 there is an ideal harmonic pattern with the ratios of 78.6 and 127.2 that by completing the D point of this pattern, there is a warning for ascending of the price and changing price direction. Generally until the bottom price of 1.43759 is preserved, the price has the potential for ascending and changing price direction in this currency pair.

FxGlory
2013.04.01

 

[FXGLORY]

Technical analysis of EUR/USD dated 03.04.13

EUR/USD from 04.02.2013 was in a reforming and falling trend that could record the bottom price of 1.27505 during this descending trend. The price has been stopped during its descending trend by reaching to the supportive level (made of 2 bottom prices) and has made the bottom price of 1.27505 that provides the filed for stopping of the price downfall. In long term time frames such as weekly and monthly time frames, the price has closed under the 5-day moving average that shows a descending trend and generally there is no clear reason for ascending of price in long term intervals in this currency pair. As it is obvious in the picture below, in 4H time frame the price descends from the top price of 1.28771 that by reaching to the ascending trend line has stopped and has created a bottom price.

Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the created bottom price and warns about the possibility of ascending of the price during the next candles. According to the next descending trend line, the first warning for changing trend direction and increasing of the price is breaking of this resistance line.

FxGlory
2013.04.03

 

[FXGLORY]

Technical analysis of EUR/NZD dated 04.04.2013


EUR/NZD was in a descending trend from the top price of 1.63538 that could record the bottom price of 1.51770. Right now this bottom price is fixed by the next ascending candles and is the next nearest supportive level. If this supportive level breaks , the price will have the potential of reaching to the important supportive level of 1.50000.as it is obvious in the picture below, the price in a descending channel during its descending trend that the supportive level of this channel prevent it from a downfall for several times and each time the price has ascended. According to the formed movements in the price chart, the price and RSI indicator are in divergence mode and warns about the potential of changing price direction in this currency pair.

In daily time frame there is a hammer candlestick pattern (also a Harami pattern) that shows the sellers retreat for reaching to the lower prices that it needs confirming with closing of an ascending candle. By breaking of the resistance level of 1.53747 and passing of it, there will be an important signal for changing price direction and the buyers will find more hope to control the market. Generally until the bottom price of 1.51770 is preserved, the price has the potential for reformation and ascending.

FxGlory
2013.04.04

 

[FXGLORY]

Technical analysis of USD/CAD dated 05.04.2013

USD/CAD during the ascending trend by reaching to the descending trend made of (2 peak prices) has been stopped from more ascend and by forming of a top price under this resistance line finally descend. Right now the price could record the bottom price of 1.01000 and as it is obvious in the picture below, this level is in alterant level (resistance to supportive) that prevent from more descending of the price. According to the formed movements in this price chart , between the top price of 1.3400 and the bottom price of 1.01000 there is an AB=CD harmonic pattern with the ideal ratios of 61.8 and 161.8 that by completing the D point of this pattern, there will be a warning for ascending of the price.In 4H time frame in the range of D point of harmonic pattern, there is a hammer candlestick pattern with long lower shadows that confirms this D point and possibility of formation of a bottom price in this chart. If the supportive level of 1.01000 breaks, the price will find the potential for reaching to the important supportive level of 1.00000.

FxGlory
2013.04.05

 

[FXGLORY]

Technical analysis of GBP/USD dated 08.04.2013

As it was mentioned in previous analysis of this currency pair dated 25.03.2013, according to the formed signs there was a potential for descending of the price and movement toward the Neck line in Inverted head and shoulders pattern that finally happened. As it is obvious in the picture below the price has an ascending trend and without reformation from the bottom price of 1.53617 that could record the top price of 1.53617 during this trend. The mentioned bottom price was created by reaching of price to the descending trend line (resistance to supportive property) and was the beginning of ascending trend.

Right now the price in 4H time frame by reaching to the resistance line of ascending channel has stopped and has created the top price of 1.5361 which is fixed by the descending candles. According to the long term time frames like weekly and monthly time frames, there is not any clear reason for descending of the price and the price in both time frames is closed above 5day moving average. This situation shows unstable reformation and descends in 4 H time frame. Generally until the top price of 1.53617 is preserved, the price has the potential for descending and reformation in this currency pair and by breaking this price level in 4H time frame, there is the possibility of more ascending of price ( according to the technical analysis of 13.03.2013).

FxGlory
2013.04.08