ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of CAD /JPY dated 20.05.2013

CAD /JPY pair from the middle of 2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 101.008. Price has been stopped from more ascend by reaching to the round resistance level of 101.00(the reason for some sellers to exit their trades) and by making a top price in daily time frame has started to reform. Right now the price level of 101.008 has recorded by the descending candles in daily time frame. According to the recent downtrend in the mentioned resistance level, there is a Hanging Man candlestick pattern in weekly time frame that warns about the potential of creating a top price and recessing of the buyers, also it confirms the round level of 101.00.

As it is obvious in the picture below, according to the formed movements in the chart there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 between the bottom price of 68.500 and top price of 101.008 that warns about descending of the price by completion of the D point. Also in CD wave of the mentioned pattern, there is another harmonic pattern (butterfly) that warns about the potential of changing price direction from the green area. According to the recent uptrend RSI indicator is in saturation buy area and confirms the mentioned top price and warns about the potential of descending of the price during the next candles. Generally until the resistance level of 101.008 is not broken, price has the potential for descending and reformation in this currency pair.

FxGlory
2013.05.20

 

[FXGLORY]

Technical analysis of Gold dated 21.05.2013

Gold chart has been stopped from more ascending in late 2011 by reaching to the important psycho level (resistance) of 1900.00. Buyers by testing this psycho level have failed and eventually forced to retreat and abandon the market to the sellers. Right now price during the downfall from the mentioned top price till now has appeared as an ACD price reformation and has been stopped by coming across to the supportive edge of downtrend channel. During this downward and price reformation sellers were successful in achieving the lowest price of 1321.42 which is the next most important supportive level and if it breaks, the price finds the potential for descending to the supportive level of 1306.00.

As it is obvious in the picture below,there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between top price of 1921.89 and the bottom price of 1321.42 that warns about changing price direction from the D point of this pattern. In daily time frame, price created a bottom price on Fibonacci level of 88.6 and Stoch indicator is in saturation sell area that according to the next cycle , it warns about ascending of the price from the mentioned Fibonacci level during the next candles . The first warning for ascending will be breaking of 1399.38 resistance level (the highest price changes in previous day). Generally according to the technical signs in the price chart until the mentioned supportive levels are preserved, the price has the potential to increase and ascend.

FxGlory
2013.05.21

 

[FXGLORY]

Technical analysis of GBP/CHF dated 22.05.2013


As it was mentioned in the previous analysis of this currency pair dated 09.05.2013, because of potential for increasing of the price in long term time frames, the formed descending signal in the chart does not have high validity that finally the price was able to ascend and pass the mentioned resistance obstacles. Buyers were successful in achieving the highest price of 1.48144 and by the recent downfall it was recorded as a peak price. By breaking this resistance level, price will have the potential to increase in long term intervals.According to the formed price movement, there is AB=CD harmonic pattern with Non-ideal ratios of 78.6 and 161.8 between the bottom price of 1.39665 and top price of 1.48144 that warns about decreasing of the price from the D point of this pattern.

Stoch indicator in daily time frame is in divergence mode with the price chart that warns about the potential for descending of the price during the next candles and confirms the D point of harmonic pattern. As it was mentioned before , in long term intervals there is the potential for ascending and descending signals in daily time frames and lower ones is temporarily and unstable. Currently the first warning for descending of the price is breaking of the supportive level of 1.46082.

FxGlory
2013.05.22

 

[FXGLORY]

Technical analysis of AUD/USD dated 23.05.2013

AUD/USD since 11.04.2013 was in a strong and without reformation downtrend that shows the certainty of the sellers in achieving the predetermined goals. Sellers during this downtrend were successful in achieving the lowest price of 0.95928 that if it breaks, the price will find the potential in reaching to the other important supportive level of 0.95000. Price during the downfall by reaching to the supportive edge of downtrend channel also the supportive level of pivot 1 has been stopped from more descending and right now some of the sellers by reaching to these supportive levels started to cash their trades.

In 1H and 4H time frame, according to the recent movement price, there is a hammer candlestick pattern that warns about formation of a bottom price in this area and ascending of the price. RSI indicator in both mentioned time frames is in saturation sell area and warns about the potential for increasing of the price and changing price direction by the next cycle. Generally according to the current condition and recent downtrend, until the supportive level of 0.95928 is preserved, price has the potential for ascending and reformation in this currency pair.

FxGlory
2013.05.23

 

[FXGLORY]

Technical analysis of EUR/JPY dated 24.05.2013

EUR /JPY pair since 26.07.2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 133.753. As it was mentioned in one of the last year analysis of this currency pair dated 16.08.2012, according to the formed signs, there was the potential for ascending of the price in long term intervals which finally happened.Price during the uptrend by reaching to the important resistance level of number 1 monthly pivot and touching the Fibonacci resistance level of 50( from the top price of 169.860 to bottom price of 94.006) has been stopped from more ascends by creating a top price. In mentioned peak price (in daily time frame) there are two Shooting Star and Hanging Man candlestick pattern that warns about formation of a top price and descending of the price during the next days.

According to the formed price movement, there is butterfly harmonic pattern between the bottom price of 118.609 and top price of 133.753 that warns about changing price direction from the D point of this pattern.RSI indication in daily and weekly time frame is in saturation buy area and in divergence mode with the price chart that confirms the harmonic pattern and warns about changing price direction. Currently by breaking the supportive level of 129.933, there will be an important warning for descending of the price. Generally until the top price of 133.753 is preserved, there is a potential for descending and price reformation in this currency pair.

FxGlory
2013.05.24

 

[FXGLORY]

Technical analysis of silver dated 27.05.2013

Silver chart since the middle of 2011 till now was in a downtrend accompanied with price reformation that sellers were successful in achieving the lowest price of 20.19. By formation of hammer candlestick pattern on 20th day in daily time frame, there is a warning for the first failure of sellers in achieving lower prices and formation of a bottom price for increasing of the price in this area. After formation of the mentioned candlestick pattern, price is range which shows indecision market for ascending or descending. Right now the bottom price of 20.19 is recorded that there is a possibility for ascending of the price.

According to the formed movements in price chart, there is Crab harmonic pattern between the top price of 35.35 and the bottom price of 20.19 that warns about ascending of price from D point. RSI indicator in daily and weekly time frame is in saturation sell area ( also in divergence mode with the price chart in daily time frame ) and by the next cycle it confirms the harmonic D point and warns about the potential for ascending of price during the next candles in both time frame. If price rises and buyers success one of the price targets would be alterant level of 26.00. Generally according to the formed signs in price chart until the bottom price of 20.19 is preserved, price will have the potential for ascending and reformation.

FxGlory
2013.05.27

 

[FXGLORY]

Technical analysis of AUD/USD dated 28.05.2013

AUD/USD since 11.04.2013 till now was in a strong downtrend without a noticeable price reformation that sellers were successful in achieving the lowest price of 0.95909. Right now price has been stopped by reaching to the round level of 0.96000 and supportive levels’ range (made of 5 bottom prices dated back to 2010) and by making a bottom price had a little ascend. The bottom price of 0.95909 is recorded in 4H time frame , also in daily time frame it appeared by creating a Spinning top candlestick pattern which shows indecision market for ascending or descending and warns about the potential to stop declining of the price.

Stoch indicator in 4H time frame is in saturation sell area and also in divergence mode with the price chart which confirms the bottom price of 0.95920 and warns about changing price direction. The first warning for ascending and price reformation is breaking the descending trend line (made of 3 peak prices). Generally according t the formed signs in the price chart until the supportive level of 0.95909 is preserved , price has the potential for reformation in this currency pair.

FxGlory
2013.05.28

 

[FXGLORY]

Technical analysis of USD/CAD dated 29.05.2013

As it was mentioned in previous analysis of this currency pair dated 10.05.2013, according to the formed signs in the price chary, there was a potential for ascending which finally happened. Buyers were able to achieve the highest price of 1.04202 during this uptrend. Right now price by reaching the resistance line of monthly pivot one and also by creating a peak price in 4H time frame has been stopped from more ascend. By forming a Engulfing candlestick pattern in mentioned top price, there is a potential for creating a top price and ten descending.


As it is obvious in the picture below, between the bottom price of 1.02146 and top price of 1.04202, there is an AB=CD harmonic pattern with non-ideal ratios of 61.8 and 127.2 which warns about descending of the price from the D point of this pattern. RSI indicator is in saturation buy area and in divergence mode with the price chart warns about changing price direction during the next candles. As it was mentioned in previous analysis of this currency pair, according to the potential for ascending in long term intervals, the signals in time frames like 4H time frames are short and unstable. Currently until the mentioned top price is preserved, price has the potential for descending and if the resistance level of 1.04202 breaks, price will have the potential for ascending and reaching to the important resistance level of 1.04456.

FxGlory
2013.05.29

 

[FXGLORY]

Technical analysis of USD/JPY dated 30.05.2013

USD/JPY since 23.09.2012 till now was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 103.675. As it is obvious in the picture below, price has been stopped from more ascending by reaching to the resistance line of ( alterant level) made of two bottom prices and also Fibonacci resistance level of 38.2 and by closing the weakly candle as descending candle, the peak price of 103.675 has been recorded. Right now price in daily time frame and 4H time frame is closed under 5-day moving average and warns about descending of the price during the next candles.

According to the strong and consistent uptrend, Stoch indicator is in saturation buy area and in divergence mode with the price chart that confirms the created top price and warns about the potential of changing price direction. Currently breaking the supportive level of 100.657 is the first warning for descending of the price. Generally according to the technical signs in the price chart, until the top price of 103.675 is preserved; there is the potential for descending and price reformation in this currency pair.

FxGlory
2013.05.30

 

[FXGLORY]

Technical analysis of AUD/NZD dated 31.05.2013

As it was mentioned in previous technical analysis of this currency pair dated 15.05.2013 with breaking of the resistance level of 1.20885, there was the first warning for ascending of the price that finally because of the sell pressure, price was not successful in breaking the mentioned resistance level. Sellers during the recent descending trend were able to achieve the lowest price of 1.18139 which is the most important supportive level before the price. As it is obvious in the picture below between the top price of 1.28254 and bottom price of 1.18139, there is AB=CD harmonic pattern with the ratios of 76.4 and 161.8 that warns about the potential for ascending of the price.

RSI indicator is in saturation sell area in daily and weekly time frame that confirms the harmonic D point and warns about changing price direction during the next candles. Between 24th and 30th days according to the shape of candles in daily time frame, there is important Evening Star pattern with 3 stars (also formation of ideal hammer candlestick pattern that warns the failure of sellers in achieving to the lower prices) that warns about ascending of the price in this price range. Generally according to the formed signs in price chart, until the bottom price of 1.18139 is preserved; price will have the potential for increasing and ascend.

FxGlory
2013.05.31