ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of gold 08.28.2012

Gold has started a strong ascending movement during this week it has registered the resistance level of 1676.96. As you can see in the below picture, the price is located in a ascending channel. The resistance edge of the channel prevents ascend of the price and the forward movement of the buyers.

This edge has done its responsibility in preventing more ascend of the price successfully on 23th, 24th, and 27th. on 24th, by formation of the Doji candle in the daily time frame, the uncertainty of the market for ascending or descending was confirmed which finally caused the defeat of the buyers to get the higher prices. To start the next ascending trend we need formation of a bottom price in the 4h time frame and then its stabling and finally breaking of the resistance level of 1655.70 and then 1676.96.

FxGlory
2012.08.28

 

[FXGLORY]

Technical Analysis of EUR vs. CHF pair dated 29.08.2012

EUR/CHF pair from 29.08.2012 faced with a neutral trend which is continued now. The formation of candles with small framework and lower or higher shadows confirms the irresolute market and not having a special aim in this currency pair. As you can see in the below picture, in this density range, the price tends to descend by reaching to the top of this neutral range and finally tends to ascend by reaching to the bottom price.Until the price acts within this range with the mentioned candles, only the transactors, who act within the neutral market, take profit. And the only important attitude toward the technical analysis in present situation is, sell in top prices and buy in bottom prices. Closing of lower prices of descending or ascending candles out of the density range is the first warning of getting out of the neutral trend in this chart.

FxGlory
2012.08.29

 

[FXGLORY]

Technical analysis of USD/CAD dated 30.8.2012

USD/CAD currency pair during the last week by reaching to the supportive level of 0.98405 starts to ascend as it is obvious in the below picture. The formation of long lower shadows emphasizes the existence of supportive level in this range. Also Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price by considering the next cycle.

Right now the price is in conflict with the descending trend line in daily price time frame. This trend line has prevented from ascending and increasing of the price successfully till now. Right now we can see the ascending trend in this time frame and RSA indicator confirms this potential. Closing of the today ascending candle in descending trend line is the first warnings for more price ascend. And also in the next stage the parallel line on the descending trend line is the next obstacle for the price. Generally until the supportive level of 0.98405 is preserved the price has the potential to increase and ascend.

FxGlory
2012.08.30

 

[FXGLORY]

Technical Analysis of NZDUSD pair dated 03.09.2012

The price during its ascending trend in 06.08.2012 and 23.08.2012 by reaching to the descending trend line has been stop from more ascend and finally starts falling down which is obvious in below daily time frame. Right now the price by making the bottom price of 0.79680 and fixing it by strong ascending candle in 31 of August is unable to continue its descending trend. According to the recent price movement, AB=CD harmonic pattern observes in the price chart by ideal ratio of 76.4 and 127.2 that the completion of the D point warns increase and ascend of price by this harmonic pattern. The formation of ending point of this pattern in supportive level (supportive to resistance) confirms the harmonic pattern in below picture.

Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price by considering the next cycle. Generally until the bottom price of 0.98405 is preserved the price has the potential to increase and ascend.

FxGlory
2012.09.03

 

[FXGLORY]

Technical analysis of AUD/USD dated 05.09.2012

As we mentioned in our previous technical analysis about AUD/USD dated 27.08.2012, the downfall of price is possible by technical signs which finally caused the descending of price till now. In daily time frame the price is closed under the five days moving average and shows more descend which is continued. Right now according to the recent downfall around 50 and 61.8 Fibonacci of previous trend is corrected and the next goals are through more descend of 50 and 61.8 Fibonacci which is drawn in the picture below.

Right now there is not a clear and important technical sign for stopping of descend and ascending of the price. In weekly time frame by closing of descending candles on descending trend line in recent three weeks, there is no signal for ascending of the price and shows the possibility of the ascend during the next weeks. The minimum sign of ending the descending trend is the formation of the bottom price in daily time frame and fixing of it, and until there is no bottom price, we can consider the trend as descending one.

FxGlory
2012.09.05

 

[FXGLORY]

Technical analysis of EUR/GBP dated 06.09.2012

In the previous technical analysis of EUR/GBP dated 27.07.2012
is pointed to the possibility of ascend and increase of price which finally the price of this currency pair was ascending till now. Right now the resistance level ( from supportive to resistance )which is drawn in the picture below , prevent from more ascend of price three times in 8th ,20th and 31st of August , and the technical analyzer paid attention to this powerful price obstacle in the previous analysis.

Right now the price in its ascending trend faced the descending trend line but it was not successful to be returned, and the imperceptible price is going to break this descending trend line. The first sign for more ascend is the conversion line (supportive to resistance) and closing of the ascending candles on top of this level. In monthly chart of this currency pair, the bottom price of 0.77624 is fixed and Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price in the next months by considering the next cycle. Also this indicator became divergence with the price chart that makes the possibility of ascend stronger according to its signal. Generally as it is specified in daily time frame until the bottom price of 0.78863 is preserved, it is expected the price increase and ascend.

FxGlory
2012.09.06

 

[FXGLORY]

Technical analysis of GBP/JPY dated 07.09.2012

Right now GPB/JPY pair in its descending trend from 2007 year is in the lowest fixed prices during its recent 20 years. As it is obvious in the picture below the bottom price of 2009 year has prevented from more descend of the price, once in 2011 and twice in 2012 and finally the price has been ascend. Right now the price by reaching to the supportive level, is stopped from more descend and it is ascending now.

According to the heavy and powerful descend which is fixed from 2007 year; there is a vacuum in monthly chart of this currency pair which shows the potential for ascending of the price, and until the supportive level is preserved in this currency pair, the reverse and ascend of the price is possible. In daily time frame, as you see in the picture below, the descending trend line is broken with the three top prices and the price is in top of 5 days moving average and shows the possibility of more ascends in this currency pair.

FxGlory
2012.09.07

 

[FXGLORY]

Technical analysis of USD/JPY dated 10.09.2012

As it is obvious in the picture below the rapid and powerful downfall of 7th of September stops by ascending trend line which is made of two supportive bottom price. The formation of long lower shadows on the ascending trend line shows the importance of this line and the sellers’ failure for getting more descending price.

Right now the USD/JPY currency pair is near its lowest descending price during the previous 20 years, and the most important supportive level with more descend reaches to the level of 75.556 which is the lowest fixed level in the history of monthly USD/JPY chart. Right now the price is located in sell saturation area and is stopped from its descending trend, and stoch indicator confirms this form in 4H time frame and shows the possibility of correction of the previous trend. As long as the supportive level of 78.005 is preserved, the ascending of the price and reaching to the resistance level is possible, and you can see it in the picture below.

FxGlory
2012.09.10

 

[dmitrievsky]

EURUSD: likely decline.

Good afternoon. The market situation is characterized by a high probability of a decline for the euro-dollar. In the picture you can see the basic scenario for the current week, resistance is located at 1.2820 area, the goal of 1.2520, the timing of the forecast - up to 17-18 September. I wish you a successful trading this week!

 

[FXGLORY]

Technical analysis of AUD/USD dated 12.09.2012

AUD/USD currency pair in 6th of August starts to ascend by creating the bottom price and fixed ascending candles, and as it was mentioned in the previous analysis of this currency pair the minimum reliable sign for the end of descending trend and beginning of ascending trend is the formation of the bottom price and fixing of it in daily time frame.Right now there is no sign of descending in long term time frames of this currency pair and the price is in top of the five days moving average in daily time frame. The buyers try to reach the long term descending trend line (which was successful for 3 times and the price by reaching to that fell down.) right now the price is drawn on the descending trend line in weekly time frame and if Ascending candle closes today, the goals will be long term descending trend line in first step and in the next step psycho resistance level in this currency pair.

FxGlory
2012.09.12