ForexTechnical Analysis(FxGlory.com)

[FXGLORY]

Technical analysis of USD/CAD dated 31.10.2012

In USD/CAD by breaking of the resistance line of descending cannel, the field for increase of the price was provided as we mentioned in the previous analysis of this currency pair dated 15.10.2012. Right now the price could record the resistance level of 1.00177 during its ascend. as it is obvious in the picture below , the reason for stoppage of this currency pair and closing of descending candle in 30th day is being in an ascending channel and the formation of AB=CD harmonic pattern .

Between the bottom price of 0.96317 and the top price of 1.00177, AB=CD harmonic pattern with 50 to 200 ratio is formed which the D point of this pattern is completed and there is the possibility of descending of the price. The formation of D point of harmonic pattern in resistance edge of ascending candle makes the possibility of formation of a top price and finally a downfall. Stoch indicator is in saturation buy area in this time frame and warns the possibility of descending of the price. The first sign for starting of descending in price is passing of 0.99819 level. Generally until the top price of 1.00177 is preserved, there is the possibility of decrease and price reformation in daily time frame.

FxGlory
2012.10.31

 

[FXGLORY]

Technical analysis of EUR/USD dated 01.11.2012

EUR/USD on 17.10.2012 by reaching to the determined resistance range which is originated from top price of 17.10.2012, was not able to pass this resistance level and finally had a downfall .during the downfall of this currency pair, the price has been stopped by reaching to the ascending trend line and has formed a bottom price on this line (the formation of fourth point of ascending trend line).With the closing of ascending candle on the supportive line on 30th day this point is fixed and there was a warning for the possibility of ascend but more with the closing of descending candle with long upper shadow (Shooting Star candle pattern) on 31st day this possibility was weaker .

Right now the ascending trend line is preserved and Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle. Daily time frame’s signal doesn’t have a high validity because the daily time frame indicator signal is not in the same direction with weekly time frame. Closing of ending today descending candle and breaking of ascending trend line is the first warning in this currency pair for reformation and descend. Generally until the fourth point of ascending trend line on the level of 1.28851 is preserved, the price has the potential for ascend and increase.

FxGlory
2012.11.01

 

[FaZiL^aFiZi]

i pollow thread ni.

 

[FXGLORY]

Technical analysis of USD/CHF dated 05.11.2012

As it was mentioned in the previous analysis of this currency pair, according to the formed signs, there was the possibility of ascending of the price which finally happened .By breaking of descending trend line the first warning for ascending of the price is issued. After breaking of descending trend line, the price had a little descend and by reaching to the descending trend line with the new property (new supportive level) has been stopped and has made the Hammer candlestick pattern.

The formation of this pattern shows the possibility of formation of a bottom price and ascends of price. Stoch indicator is in the line between the saturation buy and sell and issued the buy signal and warns the possibility of ascending of the price. Right now the price during its ascend has reached to the descending trend line which is made of two resistance peak and two descending candles closed under this resistance line. The top price of 0.94154 is recorded and breaking of this line is a warning for ascending of price. In daily time frame of this currency pair the bottom price of 0.92142 is recorded by the two ascending candle and the price is above 5-day moving average. Stoch indicator confirms the ascending trend in this time frame and warns its possibility. Generally according to the formed signs , there is the possibility of ascending of price in this currency pair .

FxGlory
2012.11.05

 

[FaZiL^aFiZi]

Technical analysis of EUR/USD dated 01.11.2012

EUR/USD on 17.10.2012 by reaching to the determined resistance range which is originated from top price of 17.10.2012, was not able to pass this resistance level and finally had a downfall .during the downfall of this currency pair, the price has been stopped by reaching to the ascending trend line and has formed a bottom price on this line (the formation of fourth point of ascending trend line).With the closing of ascending candle on the supportive line on 30th day this point is fixed and there was a warning for the possibility of ascend but more with the closing of descending candle with long upper shadow (Shooting Star candle pattern) on 31st day this possibility was weaker .

Right now the ascending trend line is preserved and Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle. Daily time frame’s signal doesn’t have a high validity because the daily time frame indicator signal is not in the same direction with weekly time frame. Closing of ending today descending candle and breaking of ascending trend line is the first warning in this currency pair for reformation and descend. Generally until the fourth point of ascending trend line on the level of 1.28851 is preserved, the price has the potential for ascend and increase.

FxGlory
2012.11.01

tq .

 

[FXGLORY]

Technical analysis of EUR/JPY dated 06.11.2012

As it was mentioned in the previous analysis of this currency pair dated 16.08.2012 according to the formed signs, there was the possibility of ascending of the price which finally happened. The price starts to ascend from the 5th point of Wolfe Wave pattern and goes toward the goal line. Right now the price reached to the descending trend line which is made of the points 2 and 4, and by reaching to this line, it was not able to ascend more and made a top price under this resistance level.

In daily time frame of this currency pair the top price of 104.592 is recorded and the weekly candle as Shooting Star candle stick pattern shows the failure of the buyers in reaching to the upper prices and also it warns the formation of a top price and finally the descend of price . In daily time frame the price is in divergence mode with RSI indicator and warns the possibility of descending of the price. The price during its downfall could pass the ascending channel and reaches to the supportive level of 102.121 which is one of the important supportive levels. Breaking of the supportive level of 102.121 is the first warning for descending of the price. In weekly and daily time frame of this currency pair, there is no stable sign for increase of price and start of the ascending trend. Generally until the top price of 104.592 is preserved, there is more potential for price reformation in this currency pair.

FxGlory
2012.11.06

 

[FXGLORY]

Technical analysis of GBP/CHF dated 07.11.2012

GBP/CHF has been stopped during its ascend from the bottom price of 1.48200 by reaching to the descending trend line and recorded the top price of 1.51145. As it was mentioned in the previous analysis of this currency pair dated 24.10.2012, there was the possibility of ascend in price by the formation of AB=CD harmonic pattern which finally happened. If the candle closes as descending trend today, there will be the top price of 1.51145. In daily time frame the descending trend line three times prevented from the increase of price and finally the price after each encounter with descending trend line had a downfall.

In weekly time frame of this currency pair the price has been stopped from more descend with the formation of the bottom price of 1.48200 on ascending trend line (the third point of ascending trend line). Stoch indicator in this time frame warns the possibility of ascending of the price during the next weeks according to the next cycle. Until the third point of ascending trend line is preserved, there is the possibility of increase and ascend of price. The first important warning for ascending of the price is breaking of descending trend line. Generally until the top price of 1.51145 is preserved, there is the possibility of decrease and descend of price.

FxGlory Broker
2012.11.07

 

[FXGLORY]

Technical analysis of USD/CAD dated 08.11.2012

As it was mentioned in the previous analysis of this currency pair dated 31.10.2012, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. The price during its downfall has been reached to the supportive edge of ascending channel and has been stopped and formed the bottom price of 0.98740.

The formation of long lower shadow on 7th day candle shows the importance and sensitivity of price to the ascending trend line, and finally the traders’ attention were toward this supportive level. If the ascending candle closes today, the bottom price of 0.98740 will record. Stoch indicator according to the next cycle warns the possibility of ascend and increase of price in daily time frame. The most important warning for ascending is the breaking of resistance level of 1.00187 and generally until the supportive level of 0.98740 is preserved; the price has the potential for ascending from supportive edge of ascending channel.

FxGlory
2012.11.08

 

[FXGLORY]

Technical analysis of EUR/AUD dated 09.11.2012

EUR/AUD from 05.10.2012 has a descending trend and right now it is in a descending channel. Right now the price has closed under 5 day moving average and follows the descending trend. The price by facing the supportive edge of descending channel and being in 50% Fibonacci correction has been stopped from more descend temporary and recorded the bottom price of 1.21924. The formed candle on 8th day is hammer candlestick pattern which warns the possibility of formation of a bottom price and finally ascend of price.

Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle; also it is in divergence mode with the price chart and warns about ascending of the price. Closing of daily candle as ascending trend upper than hammer candlestick pattern recorded the bottom price of 1.21924 and is an important warning for ascending of the price. Generally until the bottom price of 1.21924 is preserved, there is the possibility of increase and price reformation.

FxGlory
2012.11.09

 

[FXGLORY]

Technical analysis of EUR/GBP dated 12.11.2012

As it was mentioned in the previous analysis of this currency pair dated 01.10.2012, there was the possibility of the price ascend which finally the price passed the supportive level of 0.79230. The price during its ascend has recorded the resistance level of 0.81633 which is one of the important resistance level. The price during its downfall from the mentioned top price by reaching to the ascending trend line (the formation of the third point of ascending trend line) has been stopped from more descend and has recorded the bottom price of 0.795587 by closing of the daily ascending candle on 9th day.

Stoch indicator shows the possibility of ascend (also the divergence mode with the price) in daily time frame according to the next cycle. In 4H time frame as it is obvious in the picture below , there is Wolfe Wave ascending pattern and warns the ascending of price up to the goal line . By the formation and completion of the 5th point of this pattern, there is a warning for ascend and increase of price. The price during its ascend from the 5th point of Wolfe wave pattern and reaching to the descending trend line is not able to ascend more and with the formation of two Shooting Star candlestick patterns has formed the top price of 0.80070 . Breaking of the descending trend line is the first important warning for ascending in this currency pair.

FxGlory
2012.11.12