ForexTechnical Analysis(FxGlory)

[FXGLORY]

Technical analysis of USD/CHF dated 28.09.2012

As it was mentioned in previous technical analysis of USD/CHF dated 20.09.2012, according to the formed signs of that chart, there was the potential of ascending in price which finally the price ascends. The price during its ascend could record the resistance level of 194163 and right now is the important resistance level. The descending channel is drawn by the close points of candles.

The top price is made under the conversion level (from support to resistance), and this conversion level is an important obstacle for ascending of price that prevented from the increase of the price twice. Stoch indicator is in the saturation sell area in daily time frame and shows descend of the price according to the next cycle, but it is not valid because of not being in the same direction of weekly time frame. Generally until the top price of 0.94163 is preserved, there is a potential of descend in this currency pair in daily time frame.

FxGlory
2012.09.20

 

[FXGLORY]

Technical analysis of EUR/GBP dated 01.10.2012

EUR/GBP by making the top price of 0.81149 and closing the descending candle in the next day recorded it. As it was mentioned in previous technical analysis of this currency pair dated 18.09.2012, from this resistant level there can be downfall of the price. Right now the price by reaching to the ascending trend line (the formation of the third point of ascending trend line) has been stopped from more ascend. The third point on this ascending trend line is recorded on the level of 0.79230.

As it is drawn in the picture below, in addition to the ascending trend line, there is other supportive line in this region. This line is made of three resistance points and after breaking of their level, it is converted to the supportive line, and show the possibility of formation of the bottom price in this region. The formation of candle patterns of Hammer and Inverted Hammer on ascending trend line and the alternate line shows the failure of the sellers for reaching to the lower price and the possibility of the formation of the bottom price for ascending of the price. Stoch indicator shows the possibility of ascend according to the next cycle during the next days. Generally according to the formed signs in the chart of EUR/GBP, until the bottom price of 0.79230 is preserved, there is the possibility of ascend in this currency pair.

FxGlory
2012.10.01

 

[FXGLORY]

Technical analysis of AUD/USD dated 03.10.2012

In the previous technical analysis of this currency pair dated 17.09.2012, according to the technical signs there was the possibility of descending of price which finally happened. The price by reaching to the descending trend line has been stopped from more ascend and made the Shooting Star candle pattern and this shows the first warning for descending of the price.

The price in it descending trend eliminated the ascending trend line, which is drawn with two supportive bottoms in the picture below, with descending powerful candle, and this shows power of buyers. The price in its recent downfall, tried to reach to the supportive levels which are drawn in the picture below. According to the condition of this currency pair, there is no clear reason for ascend. There is formation of recursive candle patterns or one ascending candle in daily chart which is the least acceptable sign for price reformation.

FxGlory
2012.10.03

 

[FXGLORY]

Technical analysis of EUR/USD dated 04.10.2012

EUR/USD during the recent ascend goes further from the bottom price of 1.20389 to the 1.31712 level, and with the formation of the Evening star candle pattern in 14th and 18th days , there is an important warning for descend and price formation which finally happened . The price by reaching to the conversion line during it’s descend has been stopped and made the bottom price on this line.

This conversion line is made of four resistance peak and after breaking converted to a supportive line which affects the price. In monthly intervals of this currency pair, according to the formed signs, there is the potential for ascending of the price during the next months. Stoch indicator in daily time frame warns the possibility of ascending of the price according to the next cycle. Generally until the formed supportive bottom is on the level of 1.28021, the price has the potential of ascending till the level of 1.29690 and 1.31000 in the second stage.

FxGlory
2012.10.04

 

[FXGLORY]

Technical analysis of AUD/JPY dated 05.10.2012

AUD/JPY during descend from the top price of 83.076, by reaching to the ascending trend line has been stopped. As it is obvious in the picture below, the price in daily time frame is surrounded by ascending and descending trend line and that effect on the price. The price has made the bottom price on ascending trend line (fourth point) which with the formation of Hammer candlestick pattern, this bottom price is confirmed.

And the formation of the long lower shadow on ascending trend line indicates the failure of the sellers for reaching to the lower price. Stoch indicator in daily time frame is in saturation sell area (and also in divergence mode with the price) warns the possibility of ascending of the price according to the next cycle during the next days. In 4H time frame of this currency pair, the price by reaching to the descending trend line has been stopped and has made the top price on the level of 80.635 and Stoch indicators confirms this matter and shows the possibility of decrease and descend of the price. The first warning for increase and ascend of price is the formation of a bottom price in 4H time frame and the most important warning is , breaking of the descending trend line and closing of ascending candles on this line.

FxGlory
2012.10.05

 

[FXGLORY]

Technical analysis of Gold dated 08.10.2012

The price of gold has increased and it has gone up to its important resistance range by making the supportive bottom of 1526.85 on determined supportive levels in the picture below. Right now the price of gold has been stopped by reaching to its resistance range which is made of 1804.62 and 1790.99 levels and has made a top price in 1795.66 level.

Right now the price is in Divergence mode with the RSI indicator and this shows the possibility of a price decrease during the next days. In weekly time frame, the price by making a sort of candles (for example Doji) shows that gold is on a top price, and warns about being of gold in a peak price. Stoch indicator is in saturation sell area in this time frame and shows the possibility of decrease and descends of the price according to the next cycle. Generally until the top price of 1795.66 is preserved, the price has the potential to descend.

FxGlory
2012.10.08

 

[FXGLORY]

Technical analysis of AUD/USD dated 09.10.2012

As it was mentioned in the previous analysis of this currency pair dated 03.10.2012, the price continued its descending and finally have reached to the supportive level. Right now the price has been stopped by reaching to the supportive region and has recorded the bottom price of 1.06230 by making the ascending candle which is obvious in the picture below.

Closing of ascending candle in 18th shows temporary failure of the sellers in reaching to the lower price but it doesn’t cause they stop their sell because in weekly time frame of this currency pair there is no clear sign for ascending of the price. From the top price of 1.06230 till the bottom price of 1.01474, there is AB=CD harmonic pattern with the ideal ratios of 50 to 200 which there is a warning for ascending of the price with the completion of D point in this pattern. Stoch indicator is in saturation sell area and shows the possibility of ascend according to the next cycle during the next days. Generally until the bottom price of 1.01474 is preserved, the price has the potential to ascend in this currency pair.

FxGlory
2012.10.09

 

[FXGLORY]

Technical analysis of USD/CHF dated 10.10.2012

USD/CHF started to ascend from the bottom price of 0.92368 and right now have reached to the descending trend line which is drawn in daily time frame. This descending trend line is made of three peak prices and it is an obstacle for ascending of the price as it is obvious in the picture below. According to the formation of the bottom price on the 5th day and its record on the level of 0.92757, the field for breaking this trend line has been provided.

Closing of ascending candle at the end of the day is the first warning for more ascend in this currency pair. Stoch indicator is in saturation sell area and shows the possibility of ascend according to the next cycle in daily and weekly time frames.

FxGlory
2012.10.10

 

[FXGLORY]

Technical analysis of GBP/ USD dated 11.10.2012

The price of GBP/ USD dated 21.09.2012 on the level of 1.63083 stopped ascending by making three peak prices and started a downfall. Right now the price ascends by making and recording the bottom price on the level of 1.59759. In daily time frame this currency pair on the 10th day by the formation of candle with small body and long shadows shows the preparation of market for changing of trend direction.In 4H time frame as it is obvious in the picture below , there is AB=CD harmonic pattern with the 61.8 and 161.8 ratio which the D point in this pattern shows the completion and warns the ascend of price.RSE indicator is in divergence mode with the price and shows the possibility of ascending of price. Generally until the bottom price of 1.59759 is preserved, the price has the potential to ascend.

FxGlory
2012.10.11

 

[FXGLORY]

Technical analysis of EUR/AUD dated 12.10.2012

EUR/AUD by making a top price starts to descend on 8th day. Right now this currency pair has been stopped by reaching to the determined supportive region in the chart below and the sellers could not reach to the lower prices. In daily time frame on 11th day, a hammer candle pattern is made on the ascending trend line (the fourth point on ascending trend line) which warns about the formation of a bottom price and the end of descending.As it is obvious in the picture below, right now the conversion level (from resistance to supportive) supports the bottom price on the level of 1.25032. This bottom price is on the Fibonacci level of 23.6 (from 1.16013 to 1.28204 levels) and there is the possibility of starting a price reformation on this level. Generally according to the daily time frame the descending trend has been stopped and a bottom price has been made and until the supportive level of 1.25032 is preserved, the price has the potential to increase and ascend in this currency pair.

FxGlory
2012.10.12