ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of USD/CAD 07.25.2012

This currency pair started its ascending trend after forming a bottom price. right now, this currency pair is stopped after reaching the determined resistance area in the below picture. This resistance area consists of the top prices of the previous price of this currency pair.

There are several candle stick pattern that are formed in the top price.

1. Doji Pattern
2. Hanging man Pattern
3. Harami Pattern

All of the mentioned candle stick patterns are issuing the warning of descend and fall of the price. However, by considering that the RSA indicator is located in the saturation sell area and also it is in a divergence mode with the previous price chart, it is issuing the warning of the falling of the price.We can notice the potential of the falling of the price in the 4h time frame and in the lower time frames. Until the mentioned top price is maintained, we can expect the reformation of the price.

FxGlory
2012.07.25

 

[FXGLORY]

Technical analysis of NZD/USD 07.26.2012

As you can see in the below picture, the NZD/USD has formed a top price on the descending trend line when its ascending trend has been blocked when the currency pair reached the descending trend’s line and the transformative level. Right now, in the weekly time frame, NZD/USD is surrounded between supportive and resistance lines. So far, these 2 lines have successfully done their function.

Currently, the price is experiencing a little fall due to reaching to the descending trend’s lien in weekly time frame. If this falling trend continues, the next important goal is the trend’s line and blue supportive line. Also, the Stoch indicator and the next cycle are issuing the warning of descend and fall of the price in this time frame.

In the daily time frame, the price has started its ascending trend which is in opposite to the weekly time frame. Also, in the daily time frame, the price has recorded the 0.78065 level. This bottom price is located in the 38.2 Fibonachi ratios which has been drawn from 06.01.2012 to 07.05.2012.

The price has been appeared in the reforming form of ABCD until when it formed the bottom price during its descending trend. To sum up, as far as keeping the 0.78065 level, we can expect the ascend of the price and its reaching to the red descending trend’s line.

FxGlory
2012.07.26

 

[FXGLORY]

Technical analysis of EUR/GBP 07.27.2012

The EUR/GBP has been in descending trend since 07.03.2011. Since the begging of descending trend, there are just some small reforms and ascend of the price which shows the power of descending trend.

Right now, the price is stopped after reaching the supportive line of the channel. By reaching the supportive line the price has formed a bottom price and therefore a small ascend in the price. currently, the price is closed above the average of last 5 days in the daily time frame, and we expect the ascend of the price. Also, by locating in the saturation sell area, the RSA indicator increase the possibility of ascend of the price in this chart. if the current bottom price maintained its current situation, we can expect the ascend of the price to the transformative level, in the first step, and then reaching the resistance line of channel. The main warning of ascend will be issued when the descending trend’s line is broken and the price passed it.

FxGlory
2012.07.27

 

[FXGLORY]

Technical analysis of EUR/AUD 07.30.2012

The EUR/AUD is standing in the lowest price of the past 20 years. It did not have any ascend or any remarkable reform since 12.01.2008. Right now, this currency pair has the lowest price and also it has broken and passed all of supporting lines since 2008. Currently the descending trend of the price has been stopped in the weekly time frame.

You can see that the Inverted Hammer candle stick pattern is formed because of this reason. This is the first ascending and reforming candle since 05.21.2012 and before this candle the price has just descending movements. RSA indicator is located in the saturation sell area and by considering the next signal we can expect ascend of the price.

As you can see in the below picture the blue supporting line consists of two bottom price. Right now, this is the only supporting line in front of the price which prevents more descend of the price. Generally, considering the intense selling situation in recent weeks and market saturation and also, the formation of the 1.16932, we can expect the reform of the price and its ascend as far as remaining the 1.16932 level.

FxGlory
2012.07.30

 

[FXGLORY]

Technical analysis of USD/JPY 07.31.2012

The USD/JPY has been in a descending trend and has registered the lowest price, 77.942, during the recent days. As you can see in the below picture, 77.942 bottom price has formed after reaching the price to the lower edge of descending channel (supporting line). This bottom price prevented more descending of the price and help to price to ascend.

Right now, this currency pair is located in a smaller ascending channel which prevents the more descending of the price after reaching of the price to its supporting edge ( descending trend line consists of 5 supporting points).The bottom price of 78.092 is stable on the lower edge of the channel. If this bottom price is maintained, we can expect the reaching of the price to the resistance line of ascending channel.

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FxGlory
2012.07.31

 

[FXGLORY]

Technical analysis CHF/JPY

In the recent months, the CHF/JPY has been in a descending trend. As you can see in the below picture, after reaching the ascending trend line, the descending trend of the price has been stopped and the bottom price of 78.361 has been formed. The ascending trend’s line consists of two bottom prices which have been formed in 2010 and 2008 and right now, it is considered as the most important supporting level for the price.The price is located in the saturation sell area. If the mentioned bottom price maintained, the possibility of ascend and reform of the price from the third point of ascending trend’s line would increase.

In the daily time frame, the price has ascended from the formed bottom price, 78.361, of the ascending trend’s line and it was stopped by reaching the red descending trend’s line. However, due to closing of the ascending candle in the last week, and possibility of ascend of the price from ascending trend’s line the price has returned to the descending trend line.Right now, in the daily time frame, by considering the recent movements of the price charts and indicator of MACD we can notice that they are in a divergence mode which issues the warning of formation of a bottom price and ascend of the price. To start ascending and reforming of the price, the price should break descending trend’s line and pass it.

FxGlory
2012.08.01

 

[FXGLORY]

Technical analysis of AUD/USD 08.02.2012

Right now, this currency pair is in an ascending trend and in the daily time frame we can see the ascending channel pattern. As we predicted in the technical analysis of 07.23.2012 there was the possibility of descend and fall of the price. As you can see this descend has happened and it is moving toward the descending trend’s line. By reaching the supporting line the price will not be able to pass it and therefore it will form a bottom price and ascend toward the resistance line.



Right now, the price has formed for the fourth time a top price on the resistance line, and registered the 1.03404 level. In the top price, a Doji pattern has formed which indicates that a top price will form for descend of the price. Likewise, the previous technical analysis the Stoch indicator is showing the next cycle as a descending cycle and is issuing the warning of fall of the price. Generally, as the formed top price is maintained, there is the possibility of descend of the price.

In the weekly time frame, there is not any sign of descend of the price. also, the price is intended to reach the resistance lines in the weekly time frame. Right now, the buyers are leading a movement to reach the 105404 level and you can see this movement in the 4h charts.The price has been stopped from more descend during its descending trend from the 1.05404 to the transformative supporting level. Formation of Lower Long Shadow in the transformative level indicates the importance of supportive level and the intention of buyers to prevent descend of the price.

FxGlory
2012.08.02

 

[FXGLORY]

Technical analysis of GBP/CHF 08.03.2012

During its ascending trend, GBP/CHF has recorded the 1.54651 level and after that it started its descending trend and reforming of the price. Reaching two resistance lines of the ascending channels is the reason of formation of the 1.54651 level. This formation does not let the price ascend more. You can see these two channels in the below picture.

Also, the price has formed the candle stick pattern of Bearish Dark Cloud Cover after reaching the ascending channel which is issuing the warning of forming of a top price and the possibility of falling of the price. Also, indicator of RSA is showing the saturation sell situation and is issuing the warning of fall of the price and reform of the price.Generally, until the formed top price is maintained, there would be the potential of descend and reform of the price. if the price descended, the first target of the price will be the supporting line of ascending channel.

FxGlory
2012.08.03

 

[FXGLORY]

Technical analysis of USD/CHF 08.06.2012

Right now, the price of the USD/CHF is closed under the average of movements of last 5 days in the weekly time frame. By reaching the transformative level, the price will be stopped and will form a top price.The origin of this bottom price was in 2009. Also, this top price is located in the important Fibonacci level of 61.8 which increase the possibility of the reforming and falling of the price.

About indicator, we can notice that the Stoch indicator is located saturation sell situation, and by considering next cycle we can expect the falling and descending of the price. Indicator MACD is in the divergence situation with the price by considering the recent 2 peaks of the price. This indicator is issuing the warning of the formation of a top price and falling of the price. Generally, as far as keeping this formed top price untouched and safe, the price has a good potential of descend and reform.

The price is surrounded by two descending and ascending channels in the 4h time frame. The recent ascend of the price was happened because the price had reached to the supportive bottoms of these channels.The formation of a candle with long shadow is the sign of traders’ attention and consideration about these levels. The price should break the supportive bottom of ascending channel to continue its descending trend, otherwise, we can expect ascend of the price from these area and this ascending channel.

FxGlory
2012.08.06

 

[FXGLORY]

Technical analysis of EUR/USD 08.07.2012

By forming a bottom price and making it stable on the 1.20408, the EUR/USD currency pair prepares the situation for the ascending of the price. as you can see in the below picture, formation and stabling of the this bottom price has taken 3 weeks and since then it has started its ascending trend. This supportive bottom price was formed on the blue supportive line. This supportive line has prevented more descend of the price and is leading the price toward the descending trend’s line and resistance trend’s line. The price is closed above the average of 5 last days and it is obvious that until the price is closing like this and the trend will be ascending.

The Stoich indicator is located in the saturation sell area and is issuing the warning of ascend of the price with the next cycle. Also, the Stoich indicator is in divergence mode with the price chart which this divergence is issuing a powerful warning comparing to the previous signal about ascending of the price.

FxGlory
2012.08.07