ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of USD/CAD dated 13.09.12

USD/CAD currency pair was in descending trend from 04.06.2012 till now and in its moving, it has done considerable price reformation. This currency pair by reaching to the blue supportive line which is made of two supportive bottoms loses its ability to descend and the daily candle of this currency pair closes in ascending trend and forms the bottom price of 0.97120. This bottom price has stabilized by closing of yesterday ascending candle and it is the nearest supportive level if the price descends more.

There is a bottom price in supportive level which supports the 0.97120 level. And Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price in the next days. Although there is an ascending trend and price reformation in daily time frame, there is no sign of ascending in weekly and monthly time frames. Generally until the bottom price on supportive line is preserved, it is expected the price increase and ascend.

FxGlory
2012.09.13

 

[Joh]

Thk you FX - man i hope and pray you are right and that the aud will go to 096 or lower

 

[FXGLORY]

Technical analysis of AUD/USD dated 17.09.2012

As it was mentioned in previous technical analysis of this currency pair, there was the possibility of price ascending which finally could reach to the descending trend line and the important psycho resistance level of 1.06000 during the last weekend. Right now the descending trend line is not broken yet and this line could descend the price. There is Shooting Star candle pattern in the chart which was made in the last day of previous week and warns the formation of a top price but this warning is not important in technical analysis.

According to the last ascend of this currency pair in last week, there is a top price of 1.06225 which is fixed and until this top price is not broken. There is the possibility of descending and price reformation in this currency pair. Stoch indicator is located in the saturation sell area and shows the possibility of descending of price according to the next cycle. The first sign of more ascend is the closing of the ascending candle on descending trend line.

FxGlory
2012.09.17

 

[FXGLORY]

Technical analysis of EUR/GBP dated 18.09.2012

As it was mentioned in the last technical analysis of this currency at 6th of August, there was the possibility of ascending and increasing of the price with the formation of the bottom price on the ascending trend line and also the formed signs in weekly and monthly time frames, which finally this currency pair ascends. The price during its ascending trend reached to the red resistance line (the top edge of ascending channel) and descends.Predicting of this channel was true about the ascending of the price. Right now the top price of 0.81149 is fixed and the stoch indicator is in saturation sell area and shows the possibility of descends by the next signal. Generally the ascending of price is possible if the top price is preserved. There is a general trend in technical analysis view of this currency pair monthly and until the bottom price of 0.77624 is preserved this view is possible.

FxGlory
2012.09.18

 

[FXGLORY]

Technical analysis of USD/JPY dated 19.09.2012

USD/JPY currency pair in its descending trend in last week by reaching to the blue ascending trend line has been stopped ( the formation of third point of ascending trend line ) , and the sellers are not able to reach to the lower price. As it is obvious in the picture below , the formation of long lower shadow in weekly candle shows the care and attention of the traders to the blue supportive trend line which finally this candle convert to Hammer candlestick pattern that shows the possibility of the formation of a bottom price and ascend of the price during the next weeks.

According to the next cycle, stoch indicator shows the potential and the possibility of ascend in weekly time frame. Right now the price in its ascending trend has reached to the short term descending trend line and is testing this resistance line. The most important sign of ascending is the closing of the ascending candles on descending trend line in daily time frame. And in this case the next important goal is the long term descending trend line, as it is drawn in the picture below.

FxGlory
2012.09.19

 

[Joh]

Thank you again am going to look closer at the week of the UY to get a clearer imprint in my head re ascend and descent candles - also thk you for the AU chart and news a few days ago -sorry i did not reply then have some issues here - and sometimes have to read and reread to fully grasp it as i seem to miss it a lot. Super explanations!

p.s. have looked at the UY weekly chart on my chart is not as clearly defined as yours the bottom Up TL is almost horizontal - thks heaps.

 

[FXGLORY]

Technical analysis of USD/CHF dated 20.09.2012

USD/CHF currency pair in its descending trend from the top price of 0.99704 to the ascending trend line (fourth point of ascending trend line) has been stopped from more descends and made the bottom price of 0.92384 The formation of candles with small body in 17 ,18 and19th shows the Market indecision for ascending or descending that generally is the failure of the sellers for reaching to the lower price.

As it is drawn in the picture below , the price is on the supportive edge of the descending channel that was simultaneously with the formation of the third point on ascending trend line, and this is not an ideal mode for returning from supportive edge of Channel but there is the possibility of ascend and the price reformation. RSA indicator is in saturation sell area and shows the possibility of the formation of the bottom price to ascend and increase of the price during the next days in daily time frame. Generally until the supportive level of 0.92384 is preserved, there is the possibility of the price reformation.

FxGlory
2012.09.20

 

[FXGLORY]

Gold: more ascend or price reformation?

In daily time frame of Gold, as it is obvious in the picture below, it recorded the bottom price in 16.05.2012 and confirming of it in 23rd and 30th of the same month and finally ascends. The price in its ascending trend recorded the level of 1786.85 and reached to the descending trend line which is made of two resistance point and finally stops. (The formation of third point of descending trend line)

With the formation of the six daily candle on this trending line and not starting of descending and downfall in chart, the strength of the buyers and non-cash transactions of their buy and finally they hope to the higher price. From the formed candles we can point to Shooting Star and Hanging Man Pattern which both of them warns about the formation of top price and descend. But the important point is here that the descending of next candle which is not observable yet.

Stoch indicator is in saturation sell area in daily and weekly time frame and shows the possibility of descend during the next days. Also with the recent movement of this indicator is in divergence mode in price chart which warns about ascending. Generally until the top price of 1786.85 is preserved, there is the possibility of the price reformation in this chart. The first sign of more ascend is the closing of ascending candle in this range.

FxGlory
2012.09.24

 

[FXGLORY]

Technical analysis of EUR/USD dated 25.09.2012

EUR/USD currency pair during ascending from 25.07.2012, could record the price level of 1.31708. As it is obvious in the picture below, the drawn ascending channel is the guide for traders during top and bottom prices. In 11.09.2012 with the revert of the price and reaching to the resistance line of channel , the property of the resistance line will change and convert to the supportive line and cause ascending of the price.

Right now the price reached to this supportive line and stopped from more descends and recorded the bottom price of 1.28846. Stoch indicator is in saturation sell area and shows the possibility of ascend during the next candles. The first important sign and confirm of ascending mode is preserving of the created bottom price on supportive line and closing of ascending candle on resistance level of 1.29525 in 4 hours time frame.

Fxglory
2012.09.25

 

[FXGLORY]

Technical analysis of GBP/CHF dated 27.09.2012

GBP/CHF with creating the bottom price of 1.49893 and recording of it by the next candles provided a situation for ascending. From the top price of 1.54656 to the bottom price of 1.49893, AB=CD harmonic pattern with ideal ratios of 76.4 and 127.2 is observable, which is one of the reasons for recent ascend. Right now the price reached to the descending trend line that is made of three peak prices.

As it is obvious in the picture below, the formation of upper long shadows in ascending candles shows the cautious of the buyers and notice of traders to this descending trend line. Right now the price is testing it. The first sign of ascend in this currency pair is closing of ascending candles in daily time frame. According to the closing of candles in last week time frame, there is the possibility of the breakage of this trend line. stoch indicator is in saturation sell area and shows the possibility of ascend by the next cycle. Generally until the top price on the descending trend line is preserved (fourth point), there is the possibility of descending of the price during next days.

FxGlory
2012.09.27