ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of EUR/CAD 08.08.2012

The EUR/CAD is located in the supportive areas which consist of 1991, 2000, 2010. To increase the descending trend the price should pass these areas. These supportive areas have the potential of preventing more descend of the price. You can see these supportive areas in the monthly time frame.

In the weekly time frame, right now, the descending trend of the price has been stopped when the price reached the blue supportive line and the it formed the third bottom price on this line. There are two candle pattern on this line, Hammer and Inverted Hammer, which are good proves of sellers’ defeat to reach the lower prices and then formation of a bottom price.

Stoch indicator is located in the saturation sell area and by considering its next cycle, it is issuing the warning of ascend of the price and increase in the price in this time frame. Right now, the price, is descending in the smaller time frames and is moving toward the 1.21945 and there is not any sign of ascend in the 4h time frame. Generally, until the supportive level of 1.21945 is maintained we can expect the ascend of the price in the weekly time frame from the third supportive bottom price.

FxGlory
2012.08.08

 

[FXGLORY]

Technical analysis of EUR/AUD 08.09.2012

The EUR/AUD is located in the lowest price of its past 20 years. It did not ascend from 12.01.2008 and continued to descend. Also, it has broken all of the supportive lines since 2008 and passed them. Right now, the most important supportive level is the 1.6000 level which due to its roundness is very important.

As you can see in the below picture, the price has descended since 05.13.2012 without any reforms and has been stopped in the two previous candles of weekly chart. The current price bottom consists of the two reversal candle stick pattern of ( Hammer& Inveted Hammer)which both of them are issuing the warning of the formation of a bottom price and then ascend of the price.

Right now, the price is descending and there is not any sign of descend of the price in the 4 h time frame. Closing of the current candle in the weekly time frame can be a sign of ascending of the price, if the bottom price of 1.6000 broke, a bottom price would form in the long time frames. Stoch indicator is in the saturation buy area in this time frame, by considering the next cycle we can expect the ascend of the price during next weeks. The signal of the indicator would be more powerful if the price passed the supportive level of 1.30200.

FxGlory
2012.08.09

 

[FXGLORY]

Technical analysis of AUD/JPY 08.10.2012

During recent weeks the AUD/JPY has been in a descending trend and it was able to reform the powerful descending wave that happened from 03.18.2013 to 06.03.2012. Right now, this currency pair is in a top price in daily time frame as it is indicated in the below picture. The candle of third day is a defeat in this month which is not able to pass the supportive level of 07.05.2012 and finally will lead the price to the reverse supportive level.

Right now, the formed top price is under the influence of the 127.2 Fibonacci from the expansion pattern of ABC (red) and also the 61.8 Fibonacci from the bigger pattern of ABC (blue) and is supporting the supportive level of 83.339.Right now, the Stoch indicator is in the divergence mode with the price chart and is issuing the warning of the fall of the price and also the MACD indicator is in divergence mode by considering its movements and the top prices of A & C.Right now, we can see the potential of descending trend and if the top price of 83.339 maintained we can expect the possibility of descend of the price.

FxGlory
2012.08.10

 

[FXGLORY]

Technical analysis of Gold 08.13.2012

Right now, the gold could pass the supportive and resistance areas after several months by its little ascend and move toward the descending bigger line. Right now the price is closed above the average of last five days and in an ascending mode and is moving toward and testing the resistance level of 1629.07.

The mentioned resistance level is the most important level in the ascending movement of the price. If an ascend trend occurred in the gold chart, the price would move toward descending trend’s line and this level would be the most important resistance level after the level of 1629.07

If the monthly time frame, the candles are closed in ascending mode two months ago and the price is moving toward and generally we can expect the ascending of the price and locating in a bottom price. Also, in this time frame, the Stoch indicator and its next cycle, we can expect the ascend of the price and locating in a bottom price during next months.

FxGlory
2012.08.13

 

[FXGLORY]

Technical analysis of AUD/USD 08.14.2012

During its ascending trend the AUD/USD registered the level of 1.06110, then it started to falling. The reason of this descending, as you can see in the below picture, is the red resistance’s line which consists of 4 peaks of price. All the candles on the resistance line confirm the defeat of the sellers to reach the higher prices on the resistance’s line.

Right now, the price is closed under the average of last 5 days in the daily time frame and if the theformed top price maintained its position, we can expect the ascend of the price to the ascending’s trend line in the first stage. In the weekly time frame, the previous week’s candle is closed like the Doji pattern and this show that the market was unable to make a decision on that week and also, indicates the doubt of the buyers during the ascending trend. Right now, this pattern is like a resistance level according to the characteristics of the candle stick patterns.

Stoch indicator is located in the saturation sell area and by considering the next cycle, it is issuing the warning of the formation of a top price and descending of the price in next weeks. Right now, we can see the lower descending trend’s line according to the lower prices in the chart which are acting as an important resistance level and are issuing the warning of descending of the price from the third point of descending trend’s line.

FxGlory
2012.08.14

 

[FXGLORY]

Technical analysis of EUR/USD 08.15.2012

The EUR/USD has been stopped and formed a supportive bottom price during its descending trend and after reaching the 1.23159 level. As you can see in the picture, the reason of the formation of this bottom price is the presence of a transformative level which prevents more descend of the price. Also, this level is the lower price of the daily candle of yesterday and therefore is a very important one. If the price ascended, the price would reach the drawn ascending lines in the picture.

Right now, if the 1.23159 level is maintained, the price would ascend to the 1.23159 level at the first level and then to the 1.23853. also, in the 4h time frame the Stoch indicator is located in the saturation sell area and by considering the next cycle we can expect the ascend of the price.

FxGlory
2012.08.15

 

[FXGLORY]

Technical Analysis of EURJPY pair dated 16.08.2012

EUR/JPY has been stopped on the supportive line by making the lowest price of 94.127 in its descending trend during three weeks ago and after that there is a little ascends. This supportive line is made of two supportive depth in 2010 and 2012 years. And it prevents from the descending of price in 24.07.2012. Right now the price must break the resistance level at 97.800 for having an ascending trend, the price needs to become 97.800 and upper that.

Generally until the created lowest price on the supportive line is preserved, the price has a descending trend which you can see in the below picture. Stoch indicator in weekly time frame determines the ascending trend by next cycle in divergent chart. Right now in this chart the important Wolfe Wave pattern is formed which it is completed in number five. And this pattern predicts the same trend for this pair in the next weeks. This pattern is recessive which often will form at the end of ascending and descending trends, and usually is an important warning for changing trends.

FxGlory
2012.08.16

 

[FXGLORY]

Technical Analysis of AUDUSD pair dated 20.08.2012

As it is mentioned in previous technical analysis of this pair in 14.08.2012, according to the symbols that were formed in the chart, it was possible that the price in this pair decreases and finally it happened. By reaching the price to the ascending line of which you can see in the picture, the price couldn’t crossed the ascending channel so it formed a supportive bottom on this line.

This supportive bottom is fixed in the price level of 1.04098. Right now by reaching the price to the alternate level (from supportive to resistance) which is determined in the picture is testing that, and this level displays its resistance feature and it didn’t let the price to get higher until now. Stoch indicator in 4H time frame is located in the saturation sell area and by considering the next cycle we can expect the increase of the price. And this will be so until the bottom price is 1.04098. Generally until the price is in this ascending channel, the descending hypothesis in daily and weekly time frames is weaker and for having a decending trend the ascending channel must be broken.

FxGlory
2012.08.20

 

[FXGLORY]

Technical Analysis of USD vs. JPY pair dated 22.08.2012

USD/JPY pair in its recent ascending trend by reaching to the descending line which is made of three resistance peaks is unable to ascend more and finally with the formation of top price fell down. Right now in this currency pair in case of the recent downfall the top price of 79.648 is confirmed. And the most important current resistance level will be in front of the price.

Stoch indicator in 4H time frame is located in the saturation sell area and by considering the next cycle we can expect the increase of the price. And also the bottom price of 79.151 is confirmed in the chart. Generally until this price is preserved the ascending trend and reaching to the resistance level of 79.648 is possible. For having an ascending trend the price must break the descending line and crosses that and by confirmation of the bottom price at 77.910 level, the price will be increased and goes toward the next resistance level.

In weekly chart of this currency pair, in recent weeks the price is on the alternate level (from resistance to supportive) formed a supportive bottom with the bellow long shadows which shows the failure of the sellers for reaching to the lower price in this range. Stoch indicator in 4H time frame shows the possibility of ascending candles and the first goal for long-term buyers is the resistance level of 80.597.

FxGlory
2012.08.22

 

[FXGLORY]

Technical analysis of AUD/USD 08.27.2012

As we mentioned in our previous technical analysis about AUDUSD, we can see the sign of stop of ascending trend of the market in the long term time frames like weekly time frame. Right now in the weekly time frame, the price has issued the signal of descending of the price and stooping of the ascending trend by making a top price on the descending trend’s line.

The formed candle on the descending trend’s line is the Doji candle. This candle is confirming that the market is not able to make decision to descend or ascend. This uncertainty will cause the defeat of the buyers in reaching the higher price. Now, the price is closed under the average of the last 5 days and Stoch indicator is issuing the warning of descending and falling of the price in its next cycle.

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