EUR/AUD by creating the bottom price of 1.21590 and recording of it by the ascending candle in the next week has been started to ascend and right now it is in ascending trend too. As it is obvious in the picture below, the mentioned bottom price by reaching to the supportive level (resistance to supportive) prevents from more descend and finally the price ascends. According to the formed movements in weekly time frame, there is Wolfe Wave ascending pattern which the 5th point of this pattern is completed and is going toward the target line.Stoch indicator is in saturation sell area and warns the buy signal and also warns the possibility of increase of the price during the next candles according to the next cycle. In daily time frame of this currency pair, the price is closed by passing the descending trend line and breaking of it above the 5- day moving average and there is the possibility of more ascends. Right now there is no clear and obvious reason for descending of the price in the mentioned time frames and according to the formed signs; there is the possibility of ascending in this currency pair.
As it was mentioned in the previous analysis of this currency pair dated 5.10.2012, according to the formed signs in the price chart, there was the possibility of ascending of the price which finally happened. The price during its ascending trend could record the top price of 86.414. Right now the price by reaching to the descending trend line (primary) has been stopped and the formation of this top price forms the third point of descending trend line and warns about descending of the price. RSI indicator is in saturation buy area and warns the possibility of decrease of the price according to the next cycle.
The price from 11.11.2012 has experienced the ascending trend without the reformation and by formation of the top price of 86.414 and other signs, generally there is the possibility of price reformation of previous ascends. As it is obvious in the picture below, the price under the middle line of Andrews’ Pitchfork pattern has formed the top price which this technical pattern warns the descending of the price and changing the price direction .Generally according to the formed signs in this currency pair, until the third point of descending trend line is preserved, the price has the potential for decrease and descend.
EUR/USD during its ascending trend has recorded the top price of 1.31248. Right now this level is the nearest next resistance level of the price that by breaking of this level, there is the warning for more ascends. As it is obvious in the picture below, the price has been stopped from more ascend during its ascend from the bottom price of 1.26605 and reaching to the descending trend line. Right now there is a descending trend in the chart and the previous day daily candle had a long upper shadow in a descending trend which is the reason for the failure of the buyers in reaching to the upper price.The top price of 1.31248 is surrounded by the two descending trend line and the third point of both descending trend lines is formed and warns the descending of the price. Stoch indicator is in saturation buy area and also is in divergence mood with the price chart which makes its signal stronger. Generally until these third points of descending trend lines are preserved, the price has the potential for descending in this currency pair.
As it was mentioned in the previous analysis of this currency pair dated 29.10.2012. With the formation of Butterfly harmonic pattern and other signs, there was the possibility of the price descend which finally happened. The price has the ascending trend from the level of 83.247 and could record the top price of 89.373 that right now is the next nearest resistance level to the price. The price has been stopped by reaching to the resistance line of ascending channel and formed a top price on this line and according to the formation of the candlestick charts in this area shows the indecision market for continuing the movement. Right now the price is closed under 5- day moving average and there is a potential for a descending movement in this currency pair.
As it is obvious in the picture below, the top price of 89.373 is formed under the Fibonacci resistance level of 78.6 which effect on the price like a resistance level. Generally according to the mentioned top price, there is the possibility of the price reformation and descend from this Fibonacci level. RSI indicator is in divergence mode with the price chart and made a top price in the same direction of the price chart and warns the possibility of descending of the price. Generally according to the formed signs until the top price of 89.737 is preserved, there is the potential for descending of the price in this currency pair.
Gold chart after touch the price 1754.34 on 26.11.2012 show bearish trend. Now in lowest price it can register as low as 1660.84 and now this the most important support level. Price while it’s bearish trend with touching 1672.85 and support line that drawn also , shapes a hammer candle in that region. There is a long down shadow indicates doubts in sellers to reach lower prices.This support line is proved with bullish candles occurred after hammer candle already. As shown in figure there is a Wolfe Wave pattern ,shaped by its 5th point that indicates probability to be bullish till it’s target (Green line). Stoch indicator also show saturating in sell zone and show some probability for bullish trend starting. Totally while price respects support line 1660.84 , bullish trend is more probable.
USD/CAD pair in it’s bearish trend registers 0.98236 as lowest price and after building this support starts bullish trend. This new trend as shown in H4 time frame can break bearish trend line that resist 3 times before breaking. This break turn on alarms for bullish trend plus that price is closed above 5D MA already. As sellers and buyers have this sight view , we can see long down shadow for the candle with low price 0.98798 that shows inefficient sellers try to sell.Totally most important alarm for starting bullish trend is closing bullish candle above resistance level 0.98911 and break it in this pair. In daily time frame for this pair Stoch indicator indicates bullish probabilities in furthermore candles. Until support level 0.98236 is steady , price have a good potential for touch higher prices in this pair.
USD/CHF during it’s bearish trend touched 0.90837 and this support is the most efficient support already. In 19th daily candle is a hammer candle that indicates sellers can’t make lower prices, next candle with a tiny body (Like doji but not exactly) show us may be we have a change in trend to bullish. As we see in figure in the daily time frame there is a butterfly pattern (harmonic method) that AB=CD in the pattern shaped 50/200 , ideal situation for AB=CD pattern. Stoch indicator in daily time frame is in sell saturated region and probably is an alarm for bullish trend starting. RSI indicator also alarmed for changing trend to bullish. While support line 0.90837 respected , price will have potential to pull up and make a bullish trend.
EUR/CAD during its ascending trend has been stopped by reaching to the resistance edge of ascending channel and has formed the top price of 1.31845 as it is obvious in the picture below. Right now this top price is recorded by the descending candle after it. In the mentioned top price there is Hanging Man candlestick pattern which warns the possibility of formation of a top price and doubt in more ascending trend. Stoch indicator is in saturation buy area in daily time frame and warns the possibility of decrease of the price according to the next cycle.
As it is obvious in the picture below,the AB=CD harmonic pattern is formed with the ideal ratios of 78.6 and 127.2 in this currency pair that with the formation of D point , there is the possibility of decrease and descend during the next days. The price has been stopped from more descend during it downfall by reaching to the supportive level of 1.30233 (Change of polarity). Right now the mentioned alterant level is an obstacle for the price and breaking of this line is a warning for more descend. Generally according to the formed signs in the chart, until the top price of 1.31845 is preserved, there is the possibility of descending of the price in this chart.
As it was mentioned in the previous analysis of this currency pair dated 06.11.2012 according to the formed signs and the Wolfe wave technical pattern, there was the possibility of ascending of the price till the target line which finally happened. The price during its ascend has recorded the top price of 116.000 and this level was in the attention of many traders specially buyers because of being rounded and has been used as a target price.Right now this price level is the nearest and important resistance level in front of price (also because of being rounded is important).
As it is obvious in the picture below, in daily time frame the price has been stopped by reaching to the descending trend line and Stoch indicator is in saturation buy area warns the possibility of decrease of the price according to the next cycle. Right now the daily candle of the previous day is closed in a descending trend and shows the descending trend in daily and weekly time frame of this currency pair. Generally until the top price of 116.000 is preserved, there is the possibility of recent ascending trend reformation.
As it was mentioned in the previous analysis of this currency pair dated 21.12.2012 according to the technical formed signs, there was the possibility of ascending of the price which finally happened. Right now the price is above 5-Day moving average and the daily candle of the previous day was closed in an ascending trend which warns the possibility of more ascend of price. With the formation of Hammer candlestick pattern in weekly time frame and formation of the bottom price of 0.90820 the price has been stopped from more descend and there is the possibility of price ascending from this bottom price.Stoch indicator is in saturation sell area in weekly time frame and warns the possibility of ascending of the price during the next weeks. Right now there is not any clear technical signs for descending of the price in this currency pair and the previous technical analysis of this currency pair dated 21.12.2012 is still preserved.
