ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of the GBP/CHF 08.06.2012

The GBP/CHF currency pair started falling and reforming of the price during its ascending trend from the bottom price of 08.10.2011 and after reaching the 1.51000. One of the main reasons of the stopping of the price in this level is the presence of a transformative level during the ascending trend of the price. This transformative level is from 2008 and now plays the role of resistance level. You can see this transformative level in the GBP/CHF weekly chart. Also, it is necessary to mention that, the supportive level of 1.51000 is considered a resistance level too, because of it a simple number.

The prices had stopped from more ascends when it reached the resistance level. Considering the Stoch indicator, there is a good potential of descending trend during the next weeks and until when this resistance level is not broken.

However, in the daily time frame we see another situation. The blue ascending trend’s line, which played its role very well, was broken and moved toward the green ascending trend’s line. At this time, the price has a good potential for ascend from the fourth point of the ascending trend’s line. In the first stage, it moves toward the red descending channel and in the next level moves toward the green resistance line. Until when, the mentioned bottom price is not broken, we can hope ascend of the GBP/CHF currency pair.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of GBP /USD 06.11.2012

The GBP /USD currency pair is in an ascending trend right now. This trend has started from the green tape which consists of several supportive levels. The currency pair was stopped and started falling when it reached the transformative level during the ascending trend and reforming of the previous movement. This transformative level played the role of a resistance level.

Right now, this resistance level is one of the most resistance levels which the price is obliged to pass it to continue its ascending trend. The price is closed above the average movement of the past 5 days and until when the descending candle is not closed we cannot expect the ascending of the price and important reforms.

As we pointed out in the technical analysis of 06.04.2012, the price is making a third point in the ascending trend line. Right now, this bottom price is formed and there is a weekly ascending candle on the line too. Also, the Stoch indicator is in the saturation area of sell and there is agood potential for formation of an ascending cycle. Until when this ascending trend’s line is not broken, we can hope ascending of the price from the formed third point of ascending trend’s line.

The most important resistance level:


R1=1.55984

R2=1.58000

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of USD/JPY 06.12.2012

When the price touched the long term descending trend’s line on 15th and 21th of March, it was not able to pass the line. After this, the price started falling which you can see it in the picture. Descend of the prices continued until the transformative line and then it stopped there.

Right now, the descending trend’s line is broken in the daily time frame and the price top of 79.782 is registered and therefore, the warning of the formation of an ascending trend is issued.

There is the possibility of an ascend of the price by considering that an ascending candle is closed on the supportive line and the current ascending cycle of Stoch indicator and the progress of the price toward the descending trend’s line in the weekly chart.

You can see in the 1 and 4 hour time frame a pennant pattern. This pattern is always a pattern which continues the trend and it forms when the market is resting. Right now, the price is falling after reaching the supportive line of the pennant pattern.

Written by the technical team of FxGlory Brokerage

 

[FXGLORY]

Technical analysis of AUD/USD 06.15.2012

In our previous technical analysis about AUD/USD on 06.05.2012, we predicted the warning of ascend of the price by considering the technical signs. The price was reached to the resistance Andrew’s Pitchfork pattern in its ascending trend, and therefore the price had a little descend. But, it passes this pattern because of the longing of the buy and locating in the saturation area of sell. Right now, the price is closed above the average of the last 5 days in the daily time frame. We cannot see a strong reason of the descending of the price.

Hypothetically, if the price continues its ascending trend, the most important resistance level will be the drawn descending trend’s line consists of A and C point and it is also the next target of resistance level. Right now, this currency pair is in the ascending trend. Considering the potential of ascend in the weekly time frame (right now, a bottom price is formed in the time frame and the Stoch indicator confirm this ascend) this potential is increasing.

FxGlory Broker
2012.06.15

 

[FXGLORY]

Technical analysis of gold on 06.18.2012

As we predicted by the technical signs in the charton 05.28.2012 that there was the possibility of ascend of the price and increase of the price, we see this ascend in the chart. the price started its ascend from the third bottom price of supportive level ( determined with the green color) and right now the price reached to the resistance level and descending trend’s line and stopped there. This resistance line has prevented the increase of the price twice and now is doing it for the third time. (By a close reviewing, we will understand that the main reason of this stop on 15th of May was a shorter descending line which consists of 2 top prices of 1st of May and 6th of June)

If the daily candle of today were closed in ascending trend, we would be considered as a broken line. But, if the daily candle were closed in a descending trend and under the line, there would form a top price on the line. Right now, the blue and green supportive levels are the most supportive level which prevent the fall of the price. On the other hand, the red and black lines are important resistance levels.If the price breaks the initial descending trend’s lines, we can expect the ascend of the price from the red descending trend’s line.

FxGlory Broker
2012.06.18

 

[FXGLORY]

Technical analysis of USD/CHF 06.19.2012

The USD/CHF currency pair after its ascending trend and registering the 0.97691 was stopped and started its fall. Right now, the price formed its descending channel pattern during its fall. You can see this pattern in the 4h time frame.

Right now, the price is stooped by reaching the descending trend’s line and formed a top price. It necessary to mention that, this resistance line has prevented ascend of the price twice. The Stoch indicator is in the saturation buy area and issued the warning of the formation of top price and the falling of the price. until, this formed top price is not broken, we can expect the descend of the price and decrease of the price in the USD/CHF chart.

FxGlory Broker
2012.06.19

 

[FXGLORY]

Technical analysis of AUDUSD 06.21.2012

We predicted the possibility of an ascending movement and locating in the determined target in our previous analysis on 06.15.2012. Right now, the price reached a very important resistance level, which is a transitive kind, and is stopped there and had a weak falling. The price is in saturation sell area in the daily time frame and also the Stoch indicator confirms this situation. Therefore, there is the possibility of forming top price and a fall in the price, however, the direction of the movement is not the same with the weekly time frame and therefore, the accuracy of this prediction is not confirmed.

The price is closed under the average of the moving of 5 days and right now is reached to the ascending line. This line plays the role of a supporting level for the price. The price should break this line to be able to continue its descending movement. This line is not an ideal supporting line by considering the steep slope of the ascending trend and the potential of a fall in the daily time frame. We expected the descend of the price and reform of the price by considering the daily time frame. Until the formed tip price is not broken, we cannot expect more reform in the price.

AUDUSD,Daily
AUDUSD,H4

FxGlory
2012.06.21

 

[FXGLORY]

Technical analysis of CHF/JPY 06.22.2012

As we predicted the possibility of the price and stop of the falling of the price on 06.13.2012, now you can see in the chart that the price has ascended. The price could not continue its ascending trend after recording the 84.597 and the Shooting Star candle pattern is formed in the daily time frame. In order to continue its ascending trend, the price should break this pattern and also it should pass the upper edge of the ascending channel in the 4h time frame.

The nearest supporting level for the price is 83.547 level and in the next level is the ascending trend line of the ascending channel which can prevent more ascend of the price. The Shooting Star cadle pattern is located on the descending trend’s line in the daily time frame and therefore issued the falling signal. If the daily candle did not close above the Shooting Star candle pattern, there would be the possibility of the descend from the third point of descending trend’s line.

FxGlory
2012.06.22

 

[FXGLORY]

Technical analysis of USD/JPY on 06.25.2012

The USD/JPY will ascend to the 79.773 after breaking the descending trend’s line in the daily time frame. And then again start its falling, however, finally, it will create a bottom price and ascend after facing the descending trend’s line which has the supportive role after breaking. Right now, as we mentioned before, by considering the weekly time frame the potential of an ascend is strengthen.

In the 4h time frame, after reaching the resistance level, the price is not able to ascend more and therefore, a top price is formed in these areas. Right now, the price is in the saturation buy situation, and RSI indicator confirms this idea too and issued the warning of the top price for falling of the price. Until the formed top price (determined by red color) is not broken, we can expect the decreasing of the price.

FxGlory
2012.06.25

 

[FXGLORY]

EUR/USD ascending or descending

The EUR/USD will stop the descending trend and start to ascend from 1 of Jun after its strong fall. This ascending and reformation of the price will continue to the 1.27418 (the price will be reformed for about 38.2) and finally will stop and start falling at the resistance level of 38.2 Fibonacci. As you can see in the below picture, Right now, the price has formed a candle with a long bottom shadow after reaching the supportive level.

This candle is the sign of defeat of the seller in order to get reach a lower price comparing to the May’s. The RSI indicator and the price are in the divergence mode and they issued the warning of a bottom price and ascend of the price. we can expect the ascend of the price until the formed bottom price is not broken. If the supportive level broke, the price would descend and reach the supportive level of 1st of June.

FxGlory
2012.06.27