ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of AUD/USD dated 05.08.2013

As it was mentioned in the previous technical analysis of this currency pair dated 24.07.2013, according to the formed technical signs, there was the potential for descending of price which finally happened. During the uptrend from bottom price of 1.91258, price with reaching to the descending trend line made of 4 peak prices has been stopped form more ascend. Right now in 4H time frame price with creating the hammer candlestick pattern (failure of sellers in reaching to the lower price) warns about the formation of a bottom price in this range that needs the recording of the bottom price of 0.88472.

As it is obvious in the picture below, there is non-ideal butterfly pattern between the top price of 0.93159 and the bottom price of 0.88472 that there is a potential for ceasing of price from D point of this pattern. RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about ascending of price during the next candles. Generally until the price level of 0.88472 is preserved, price will have the potential for reformation and ascending.

FxGlory
2013.08.05

 

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[FXGLORY]

Technical analysis of GBP/AUD dated 06.08.2013

As it was mentioned in the previous technical analysis of this currency pair dated 24.04.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful to achieve the highest price level of 1.72547.Currently price in long term time frames like monthly, weekly and daily time frames is above 5 day moving average which shows a consistent ascending trend in long period of time.

As it is obvious in the picture below, there is a harmonic butterfly pattern between the bottom price of 1.61292 and the top price of 1.72547 that there is a potential for changing price direction from D point of this pattern. RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about descending of price during the next candles. Generally until the price level of 1.72547 is preserved, price will have the potential for reformation and descending.

FxGlory
2013.08.06

 

[FXGLORY]

Technical analysis of Gold dated 07.08.2013

As it was mentioned in the previous technical analysis of Gold dated 11.07.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful to achieve the highest price level of 1347.38. Currently price during the downfall from the top price of 1347.38 has been stopped from more descending with reaching to the middle line of Andrews Pitchfork pattern.

As it is obvious in the picture below, there is AB=CD harmonic pattern between the top price of 1338.92 and the current descend price with ideal ratios of 61.8 and 127.2 that there is a potential for changing price direction from D point of this pattern. Stoch indicator is in saturation sell area that warns about ascending of price during the next candles and according to the current condition of daily time frame is not high validated. According to the current condition of price, the first warning for descending of price is breaking of the resistance level of 1284.91.

FxGlory
2013.08.07

 

[FXGLORY]

Technical analysis of USD/CHF dated 08.08.2013

USD/CHF since 10.07.2013 till now was in a downtrend that sellers were successful in achieving the lowest price of 0.91892. Currently in long term time frames such as monthly, weekly and daily price is under 5-day moving average (a consistent downtrend) and there is not any clear reason about ascending of price in these time frames.As it is obvious in the picture below, price during the descending has touched the ascending trend line (made of 3 bottom prices) and also the round supportive level of 0.92000 and has created the hammer candlestick pattern.

Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.Stoch indicator in 4H time frame is in saturation sell area and with the next cycle confirms the current bottom price and warns about ascending of price that with not being in the same direction with daily time frame is not so much valid. According to the current condition the first warning for descending of price is breaking of the resistance level of 0.92303.

FxGlory
2013.08.08

 

[FXGLORY]

Technical analysis of AUD/NZD dated 09.08.2013

AUD/NZD during the recent month was in a strong downtrend that sellers were successful in achieving the lowest price of 1.11958. Right now price is under 5-day moving average in long term time frames such as monthly and weekly that shows a consistent downtrend in this currency pair. With cashing of some sellers’ trades (formation of candle stick pattern with long lower shadow in weekly time frame) the price ascends and currently with closing of bullish candle on second day records the bottom price of 1.11958.

Stoch indicator in weekly time frame is in saturation sell area and with the next cycle confirms the current bottom price and warns about the potential of ascending during the next candles. Price with reaching to the descending trend line made of 4 top prices test it that according to the signal from Stoch indicator, there is the possibility for breaking of this resistance level. Currently according to the condition of this currency pair and its strong downtrend in recent months, price is in saturation sell area and warns about a slight reformation in weekly time frame.

FxGlory
2013.08.09

 

[FXGLORY]

Technical analysis of EUR/JPY dated 12.08.2013

As it was mentioned in the previous technical analysis of this currency pair dated 09.07.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened.Buyers were successful to achieve the highest price level of 132.726. Currently in long term time frames such as monthly, weekly, there is a potential for descending and price reformation also price is under 5-day moving average in weekly and daily time frames. AS it is obvious in the picture below, there is an ideal AB=CD harmonic pattern between the top price of 132.726 and the bottom price of 127.962 with ratios of 78.6 and 127.2 that warns the ascending of price from the D point( the first warning for ascending is breaking of the resistance level of 128.726).

Stoch indicator is in saturation sell area that confirms the current harmonic pattern with the next cycle but because of non-compliance and coordination with larger time frames, this signal is not much valid. Generally until the bottom price of 127.962 is preserved, price has the potential to ascend.

FxGlory
2013.08.12

 

[FXGLORY]

Technical analysis of AUD/NZD dated 15.08.2013

As it was mentioned in the previous technical analysis of this currency pair dated 09.08.2013, according to the formed technical signs, there was the potential for stopping of downtrend which finally happened. Sellers were not successful to continue this trend.Right now price is under 5-day moving average in long term time frames such as monthly, weekly and daily that shows a consistent downtrend in long period of time.

During the uptrend from bottom price of 1.11958, price with reaching to the downtrend line and breaking of it did not qualify for ascending. In the return of Price, the downtrend line’s property is reversed and as a supportive line is impressive on price. Also price is on the descending trend line made of 2 bottom prices that with formation of a bottom price (the third point of ascending trend line) warns about ascending of price.

Stoch indicator in 4H time frame is in saturation sell area and with the next cycle warns about ascending of price during the next candles, but because of lack of coordination with the daily time frame is not much valid. Given the current situation of price, the best confirmations for ascending and reformation of price is closing of bullish candle in weekly time frame and being of price above 5-day moving average in daily time frame.

FxGlory
2013.08.15

 

[FXGLORY]

Technical analysis of Gold dated 16.08.2013

As it was mentioned in the previous technical analysis of Gold dated 07.08.2013 , according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were not successful in achieving the highest price of 1372.66.Right now price is above 5-day moving weekly and daily time frames that show an uptrend during the next candles. Currently in long term time frames such as monthly, weekly and daily, there is not a clear reason for price downfall and also in long period of time there is the possibility of growth of price to the Fibonacci levels of 38.2 in the level of 1415.00 and for the next time to 50% in the level of 1487.00.As it is obvious in the picture below, price is in an uptrend channel going toward the resistance level. Currently price has been stopped from more ascend that cause formation of Shooting Star pattern in 4H time frame. With closing of bearish candle, there is a potential for price reformation to the conversion range.

FxGlory
2013.08.16

 

[FXGLORY]

Technical analysis of GBP/USD dated 19.08.2013

GBP/USD from bottom price of 1.48131 was in uptrend that buyers could achieve the highest level of 1.56545. Currently price in weekly and daily time frames is above 5-day moving average that shows more ascending during the next candles. As it is shown in the picture below, price is in an uptrend channel that has reached to the resistance edge of this channel.According to the formed movements, there is AB=CD harmonic pattern with non-ideal ratios of 50 and 161.8between the bottom price of 1.48131 and the top price of 1.56545that warns changing price direction from D point of this pattern. RSI indicator is in saturation buy area and in divergence mode with the price chart that confirms the current top price and warns about more ascends. The first warning for decreasing of price is breaking of supportive level of 1.56069 in this currency pair.

FxGlory
2013.08.19