ForexTechnical Analysis(FxGlory)

[FXGLORY]

The currency pair of EUR/JPY will ascend to 101.609 and then will stop there after breaking and passing the descending trend line. The resistance level of 38.2 of Fibonacci is the reason of the stop of the price in that level. When the price breaks this descending trend and will back toward this line.

When the price reached there, it will stop there (supportive level) and ascend again which is a good opportunity (for buying and entrance to the ascending trend) for using this transformative line. Right now, this EUR/JPY has formed a bottom price in some areas of supportive level. Also, in the daily time frame, some candles with small bodies are formed on 26th and 27th which is the sign of buyers’ wait for lower price. Until when the formed bottom price of 98.773 is kept, we can expect ascend of the price in the chart.

FxGlory
2012.06.29

 

[FXGLORY]

EUR/USD ascending or descending

As we mentioned about the possibility of ascend of the price in our previous technical analysis on 06.27.2012, you can notice that the price has ascended. In a long term period and range we expected ascending and increasing of the price by considering the monthly and weekly time frame. In the monthly time frame the price returned to the higher areas of the chart by touching a supporting line which belongs to 2008. Because this supporting line was successful in increasing the price in 2010, thus, there is the possibility of a successful ascending from this supportive line again.

In the weekly time frame, the price is located in the blue line of supporting line which was formed from the bottom price. Generally, the price is going to reach to the red supportive line and also the Stoch indicator is in the ascending cycle and therefore we can expect ascend of the price.

Right now, the price has fallen from the 1.26915 top price (due to the strong and quick ascend, the falling was predictable). Now, the price is between the supportive and resistance lines, as you can see in the below picture, in the 1h timeframe. To continue its ascend; the price should break the red resistance line. Until when the green supportive area is untouched and safe, we can expect ascend of the price and reaching the 1.26915 top price in the first phase.

FxGlory
2012.07.03

 

[FXGLORY]

Technical analysis of NZDUSD

The NZDUSD currency pair ascended from the 0.74570 bottom price and it is stopped after recording the 0.80742 level and reaching the descending trend line and resistance levels. Right now, two important resistance levels are preventing ascending of the price. These two levels are:

1. Transformative level, which consists of two bottom price, and is playing the role of resistance level.
   
2. Descending trend line which is consists of two top prices. in case of falling of the price the current top price will form the third point of the descending trend line in the daily time frame.

The price is located in the saturation sell area and the RSI indicator confirms this state. Also by considering the recent peaks of the price chart and divergence indicator, we notice that they are issuing the warning of the changing in the trend of the market.If the descending candle were closed today, we can hope more ascend of the price. Generally, if the current peak of the price is safe, we can expect more descend of the price and its reform in this chart.

FxGlory
2012.07.06

 

[FXGLORY]

Technical analysis of AUD/USD 07.09.2012

Right now, this currency pair is located in a top price in the daily time frame. The price reordered the 1.03267 level through its previous ascending trend. Currently, the most important resistance level for the price ( all the supportive and resistance level which have round number are important) is the 1.03000 level. This resistance level could influence the price if the ascending trend continued. The buyers can use this level to exit their trades for in short period of time.

Right now, the price is closed under the average of the last 5 days movement. The price and the RSI indicator are in divergence situation. This situation issued the warning of the falling of the price. Noticing the second current peak of the price which recorded the resistance level of 1.03267, we will see 4 daily candles with small bodies which confirm the tiredness and weakness of the buyer for attempting to reach a higher price than May’s.

Right now, the price has reached the ascending trend line during its descending trend. This line has been successful for 3 times in 4h time frame and the price could not pass it. By considering the intense pressure of selling in the daily time frame and closing of the descending candle in the daily time frame, we can expect the possibility of the breaking of the ascending trend’s line and passing of the price from this line.

FxGlory
2012.07.09

 

[FXGLORY]

Technical analysis of GBP/CHF 07.12.2012

Right now, the ascending trend of GBP/CHF currency pair has been stopped and it is not able to reach the higher prices. The price has recorded the 1.52538 level during its ascending trend. The shape of candle is closed like Doji Pattern because of the movement of the price in last day. This candle issues the warning of the formation of atop price. this pattern is located on the red line of resistance trend which consists of two resistance points which right now is preventing the ascend of the price.

Also, the Stoch indicator is located in the saturation buy are and show the potential of falling of the price.

An ideal harmonic pattern AB=CD

In the daily time frame we can find the harmonic pattern of AB=CD in an ideal situation which has the ratios of 61.8=161.8 and right now, is issuing the warning of falling of the price. By the way, until when the formed peak of the price is maintained, we can expect the falling and reform of the price.

FxGlory
2012.07.12

 

[FXGLORY]

Technical analysis of USD/CHF 07.16.2012

The USD/CHF has registered the 0.98720 level during its ascending process and right now this level is the nearest and the most important resistance level in front of the currency pair. Currently the ascending trend is stopped and there is a top price. The formed peak of the price is potential for a descending trend and reform of the price. Stoch indicator also is located in the saturation buy are and by considering the next cycle is issuing the warning of falling of the price.

In the daily time frame we are noticing the butterfly pattern which is complete now and is issuing the warning of the falling of the price. Mostly, this pattern is formed at the bottom of the price trends and usually they are considered as the begging of a reformation process. Considering the formed top price, until this peak of the price is not broken, we can expect descend and falling of the price.

2012.07.16
FxGlory

 

[FXGLORY]

Technical analysis of EUR/JPY 07.18.2012

After recording the 96.154 level during the descending trend, the falling movement of the EUR/JPY will be stopped and will form a bottom price. The current bottom price will be formed on the transformative line (which has been descending trend line). This bottom price consists of three resistance points and also two supportive bottoms. Right now, this supportive bottom is supporting the 96.154 level.

Right now, in the daily time frame, an ascending harmonic pattern of Bat has been formed due to the movement of the price in the chart. This pattern is issuing the warning of starting of an ascending trend and finish of the falling of the price. Also, Stoch indicator is located in the saturation area of sell and is confirming the ideal harmonic by considering the next cycle.

By considering the formed technical pattern, we can expect ascend and increase of the price until point D is untouched.

FxGlory
2012.07.18

 

[FXGLORY]

Technical analysis of EUR/USD 19.07.2012

Right now, the EUR/USD is located in the areas between the supportive and resistance lines and it recorded the 1.22959 level during its last ascend. Formation of this top price is caused by the descending trend line of the two previous top prices. Right now, in the daily time frame, a bottom price is formed on 12th and 13th of July due to the intense falling of this currency pair. These bottom prices issue the possibility of ascending in the price for the buyers as far as they are safe. The two drawn lines in the below chart can continue the trend if they broke.

FxGlory
2012.07.19

 

[FXGLORY]

Technical analysis of AUD/USD 07.23.2012

The AUD/USD has recorded the 1.04429 level as the highest resistance level since its ascending trend on 06.01.2012. There is a resistance area in this level which consists of two top prices. These top prices prevented more ascend of the price which is indicated by the red line in the below picture.

Right now, the price has formed a top price on the resistance line and the price started falling. If the falling of the price continues the most important supportive level will be the blue supportive line which consists of four bottom price. Also, the Stoch indicator is increasing the possibility of descend of the price by stabling its position in the saturation buy area and its current signal. Considering the daily time frame and closure of the descending candle in the mentioned top price, we can expect descend of the price. Until the formed top price on the red resistance level is maintained, there is the possibility of descend of the price.

FxGlory
2012.07.23

 

[FXGLORY]

Technical analysis of GPB/CHF 07.24.2012

The GPB/CHF currency pair has started its ascending trend since 08.10.2011 and it was able to continue this trend up to now with some small reforms. It recorded the 1.54652 level during its ascending trend. The price is now located in an ascending channel. Also the price has been stopped when it reached the resistance line and has formed a top price. Therefore, the price has descended a little. Right now, in this currency pair, the Stoch indicator is located in the saturation buy area and by considering the next cycle, there is the possibility of descend of theprice. Also, this indicator is the divergence mode with the price.The general trend is an ascending trend in this currency pair, however, as far as the existence of the top price on the channel, we can expect the descend of the price.

FxGlory
2012.07.24