ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of NZD/USD dated 03.06.2013

As it was mentioned in previous analysis of this currency pair dated 15.04.2013, according to the formed signs in the price chary, there was a potential for descending of price which finally happened. Sellers were successful in achieving the lowest price of 0.79366 in this downtrend. In long term time frames like monthly and weekly, price is closed under 5 day moving average and according to the monthly chart condition, there is the potential for descending of the price in long term interval. Right now, price has been stopped from more descend by recording the bottom price of 0.79366 that shows sellers’ retreat and cashing of their trades.

According to the formed price movements, there is AB=CD harmonic pattern with idea ratios of 76.4 and 127.2 between the top price of 0.82120 and bottom price of 0.79366 that warns about ascending of the price from the D point of this pattern. Stoch indicator in 4H time frame is in saturation sell area and confirms the harmonic D point with its possible ascending cycle and warns about the potential of changing price direction during the next candles. Generally according to the formed signs in price chart until the mentioned bottom price is preserved, price will have the potential for reformation to the resistance level of 0.80039 and in the next stage to the descending trend line.

FxGlory
2013.06.03

 

[FXGLORY]

Technical analysis of GBP/NZD dated 04.06.2013

As it was mentioned in previous analysis of this currency pair dated 03.05.2013, according to the formed signs in the price chart, there was a potential for ascending of price which finally happened. Buyers were able to achieve the highest price of 1.91605 during this uptrend. Currently In long term time frames like monthly, weekly and daily, price is above 5 day moving average that warns the potential of ascending during the next candles.

According to the potential of ascending in long term interval in this currency pair, likely descending signals in short term time frames will be temporary and unstable. According to the picture below, price with forming AB=CD harmonic pattern starts to ascend and buyers face a notable price increase. Currently price has been stopped by reaching to the resistance line (the alterant level made of two bottom prices) and with creating a bearish candle in daily time frame, points to buyers’ trades getting cash in this area. With breaking the resistance level of 1.91605, there is the possibility for ascending of the price to the descending trend line or weekly pivot 1 level.

FxGlory
2013.06.04

 

[FXGLORY]

Technical analysis of GBP/JPY dated 05.06.2013

GBP/JPY was in a strong and consistent uptrend during the recent months that buyers were successful in achieving the highest price of 156.658. According to the chart condition in long term time frames like monthly and weekly, there is the potential of ascending in long term interval of this currency pair and the most important buyers’ midterm goal is achieving the top price of 163.127 ( belong to 2009 ). There is a Hanging Man candlestick pattern in top price of 156.658 that warns the potential for formation of a successful top price and Vulnerability of ascending trend for buyers. With closing of the next bearish candle, this signal is fixed.

According to the formed price movements in the chart, there is a butterfly harmonic pattern between the bottom price of 116.905 and top price of 156.658 that warns about descending of the price with completion of this pattern ending point. Stoch indicator in weekly time frame is in saturation buy area and warns about descending of price according to the next cycle during the next weeks. According to the current condition and ascending again from the bottom price of 151.824, the first important warning for descending is breaking of this supportive level. Generally according to the formed signs in price chart, until the top price of 156.658 is preserved, there is a potential for reformation and descending of the price in this currency pair.

FxGlory
2013.06.05

 

[FXGLORY]

Technical analysis of GBP/CHF dated 06.06.2013


As it was mentioned in previous analysis of this currency pair dated 22.05.2013 , according to the formed signs in the price chart, there was a potential for descending of price which finally happened.Sellers were successful in achieving the lowest price of 1.44549 in this downtrend. According to the continues formation of Spinning top candlestick pattern in recent days, it warns about indecision traders and inability of sellers in achieving the lower price in this currency pair.as it is obvious in the picture below , price has been stopped from more descending with reaching to the supportive level (alterant) and has formed a bottom price.

Stoch indicator is in saturation sell area in daily time frame and it warns the potential for ascending of the price according to the next cycle. The first important warning for ascending of price is breaking of the 1.45790 resistance level(the highest level of price changes in previous day). The first price target of buyers is long term descending trend line in this currency pair. Generally until the bottom price of 1.44549 is preserved, the price has the potential for ascending in this currency pair.

FxGlory
2013.06.06

 

[FXGLORY]

Technical analysis of EUR/CAD dated 07.06.2013

As it was mentioned in the previous analysis of this currency pair dated 14.05.2013 , according to the technical signs in the chart, there was the potential for ascending of price that finally happened. Price has increased form the third point of ascending trend line and buyers were successful in achieving the highest price level of 1.36318. Currently price in long term time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair.

As it is obvious in the picture below, price is in an uptrend channel and breaking of the supportive line of this pattern will be the first warning for a price reformation. Right now the price has reached to the resistance level of weekly Pivot 2 and with forming Shooting Star candlestick pattern warns about formation of a top price (need to be confirmed by a bearish candle). According to the formed price movements in 4H time frame, RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for price reformation.As it was mentioned in the previous analysis of this currency pair, according to the ascending of price in long term interval, the signals of short term time frames are possible to be unstable and temporary.

FxGlory
2013.06.07

 

[FXGLORY]

Technical analysis of EUR/AUD dated 10.06.2013

As it was mentioned in the previous analysis of this currency pair dated 15.01.2013 , according to the technical signs in the chart, there was the potential for ascending of price that finally happened. Buyers were successful in achieving the highest price level of 1.40431in this uptrend. Currently price in long term time frames such as monthly and weekly time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair. Right now price is near the round resistance level of 1.40000 which is one of the buyers price target in this uptrend and if it breaks in daily time frame, price will have the potential of reaching to the resistance level of 1.41400.

According to the formed price movements in 4H time frame, RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for formation of a top price and changing price direction during the next candles. If the supportive level of 1.39717 breaks, there will be the first warning for price reformation in this currency pair and if the price decrease, one of the price targets will be the weekly pivot level which is obvious in the picture below.

FxGlory
2013.06.10

 

[FXGLORY]

Technical analysis of NZD/USD dated 11.06.2013

As it was mentioned in previous analysis of this currency pair dated 03.06.2013, according to the formed signs in the price chart, there was a potential for ascending of price to the specified resistance levels which finally happened and it touched those specified targets. Because of sell pressure and strong downtrend, ascending of price was not stable and sellers could achieve the lowest price of 0.78191. Currently price in long term time frames such as monthly and weekly is under 5-day moving average and warns more descending in long term interval.

As it is obvious in the picture below, right now price during the downtrend has reached to the ascending trend line (made of 3 bottom prices) and if this supportive line breaks, price will have the potential of reaching to the important supportive level of 0.77300. According to the formed price movements in daily time frame, there is a butterfly harmonic pattern between the top price of 0.86738 and the recent descending that by completing the D point of this pattern (formation of an ascending candlestick pattern or a bullish candle); there is a warning about stopping of descending of the price. There is no clear sign for ascending of the price and the least sign for price reformation and increasing of the price is formation of a bottom price in 4H time frame.

FxGlory
2013.06.11

 

[FXGLORY]

Technical analysis of AUD/USD dated 12.06.2013

AUD/USD since 11.04.2013 had a strong and without reformation downtrend, that sellers during this downtrend were successful in achieving the lowest price of 0.93248.Price by reaching to the supportive level (alterant) and expansion Fibonacci range of 261.8 (ABC pattern) stopped from more descend and with forming a bottom price prepared a field for ascending. There is an AB=CD harmonic pattern with the ratios of 61.8 and 127.2 between the top price of 0.97909 and the bottom price of 0.93248 that prepared a field for ascending.

Currently the mentioned bottom price is recorded in daily time frame and with formation of the hammer candlestick pattern that shows sellers failure in achieving the lower price warns about changing trend direction. RSI indicator is in saturation sell area in daily time frame and in divergence mode with the price chart that confirms the bottom price of 0.93248warns about changing trend direction. Generally until the supportive level of 0.93248 is preserved , the price will have the potential for reformation of descending trend and reaching to the weekly pivot 1 resistance level.

FxGlory
2013.06.12

 

[FXGLORY]

Technical analysis of AUD/USD dated 12.06.2013

AUD/USD since 11.04.2013 had a strong and without reformation downtrend, that sellers during this downtrend were successful in achieving the lowest price of 0.93248.Price by reaching to the supportive level (alterant) and expansion Fibonacci range of 261.8 (ABC pattern) stopped from more descend and with forming a bottom price prepared a field for ascending. There is an AB=CD harmonic pattern with the ratios of 61.8 and 127.2 between the top price of 0.97909 and the bottom price of 0.93248 that prepared a field for ascending.

Currently the mentioned bottom price is recorded in daily time frame and with formation of the hammer candlestick pattern that shows sellers failure in achieving the lower price warns about changing trend direction. RSI indicator is in saturation sell area in daily time frame and in divergence mode with the price chart that confirms the bottom price of 0.93248warns about changing trend direction. Generally until the supportive level of 0.93248 is preserved , the price will have the potential for reformation of descending trend and reaching to the weekly pivot 1 resistance level.

FxGlory
2013.06.12

 

[FXGLORY]

Technical analysis of GBP/USD dated 13.06.2013


GBP/USD from the bottom price of 1.50049 till now was in strong and consistent uptrend that buyers could achieve the highest price level of 1.56994.currently the price in weekly and daily time frame is above 5-day moving average and warns the potential of ascending in long period of time in this currency pair. Price by reaching to the round resistance level of 1.57000 and the resistance edge of uptrend channel has stopped from more ascend that shows buyers used this price level to exit their trades. Formation of Shooting Star and Hanging Man candlestick patterns with thin body in green area shows indecision market and vulnerability of ascending trend.

According to the formed price movements, RSI indicator is in saturation buy area and in divergence mode with the price chart that confirms the top price of 1.56994 and warns about changing price direction. One of the important signs for descending is breaking of ascending trend line (made of 3 bottom prices). Generally according to the current situation in 4H time frame until the top price of 1.56994 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.

FxGlory
2013.06.13