ForexTechnical Analysis(FxGlory.com)

[FXGLORY]

Technical analysis of GBP/USD dated 18.04.2013

As it was mentioned in the previous analysis of this currency pair dated 08.04.2013, according to the formed signs in the price chart, there was the potential for descending and reformation of the price that finally happened. As it is obvious in the picture below, the price is fluctuating in ascending channel and right now an ascending trend line prevent from more descending of the price. Price has been stopped during the recent descending and could record the bottom price of 1.52143 on supportive trend line which is shown in the picture below.

Right now this bottom price is fixed by an ascending candle and there is hammer candlestick pattern in this bottom price that shows the possibility of formation of a bottom price and then ascending of the price. According to the formed signs in the price chart between the top price of 1.54091 and the bottom price of 1.52143 there is an AB=CD harmonic pattern with the ideal ratios of 78.6 and 127.2 that from the D point of this pattern there will be a warning for changing price direction.

RSE indicator is in saturation sell area and warns about the possibility of ascending of the price according to the next cycle. Generally according to the formed signs, price is able to ascend from the mentioned bottom price and if the sellers succeed in breaking this supportive level, the price will have the potential to descend and reach to another supportive trend line.

FxGlory
2013.04.18

 

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[FXGLORY]

Technical analysis of GBP/CHF dated 19.04.2013

As it is obvious in the below price chart, GBP/CHF from the top price of 1.44686 has descended and sellers could record the bottom price of 1.40727 that this supportive level is fixed in daily time frame ( by ascending candles) and acts as a bottom price. Price by reaching to the ascending trend line (made of 2 bottom price) was not able to descend and break it in daily time frame and by creating the hammer candlestick pattern on this line shows recessing of sellers in reaching to the lower price and also the supportive level of 1.40727.

According to the below picture, price by making the third bottom price of ascending trend line has started to ascend and is above 5-day moving average that warns about ascending of price during the next candles. Stoch indicator is in saturation sell area and in divergence mode with the price chart that warns about changing price direction. Right now the price by reaching to the red descending trend line has stopped from more ascend and generally by breaking this resistance line, first signal for increasing and more ascends of price will be issued.

FxGlory
2013.04.19

 

[FXGLORY]

Technical analysis of Silver dated 22.04.2013

Silver chart has experienced a strong descending trend during the recent week that could record the bottom price of 22.02. One of the sellers’ targets was the round level of 22.00 that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price. According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation.

According to the formed movements in the price chart, between the top price of 37.47 and the bottom price of 22.02 there is an ideal AB=CD harmonic pattern with the ratios of 78.6 and 127.2 that warns about changing price direction and price reformation. RSI indicator is in saturation sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days. Generally until the price level of 22.00 is preserved, the price has the potential for ascending and reformation.

FxGlory
2013.04.22

 

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[FXGLORY]

Technical analysis of AUD/NZD dated 23.04.2013

As it is obvious in the picture below, price in AUD/NZD currency pair from the end of 2011till now was in a descending channel that Sellers have the price close to the supportive levels’ range of 2009 and 2010. Right now price is closed under 5-day moving average in long term time frames and could record the bottom price of 1.21575 in recent days. If the supportive level of 1.21334 breaks, the price finds the potential for descending up to the round level of 1.20000. Price during descending from the resistance edge of descending channel (top price of 1.26778) has stopped from more descend by reaching to the supportive range and it is fluctuating in green range.RSI indicator is in saturation sell area in daily time frame and according to the next cycle confirms the mentioned bottom price and warns about ascending during the next candles. By breaking the short term descending channel, there is first technical signal for starting the price reformation and ascending trend. Generally if the short term descending channel breaks, until the price level of 1.21575 is preserved, price has the potential for reformation and ascending from the supportive edge of descending channel.

FxGlory
2013.04.23

 

[FXGLORY]

Technical analysis of GBP/AUD dated 24.04.2013

As it was mentioned in the previous analysis of this currency pair dated 01.04.2013, according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. Right now the price is in the lowest prices in the recorded history and generally in long term interval according to the bottom price of 1.43759 and other factors, it has a good potential for ascending. Price could record the top price of 1.49373 during this ascending trend and stopped (In 4H time frame with the formation of AB=CD harmonic pattern and completing its D point, the price stopped from more ascends).

AB=CD harmonic pattern in weekly time frame of this currency pair is active yet and effects on the price. Price in weekly and daily time frame is above 5-day moving average and warns about the increasing of the price according to the ascending potential in this currency pair. Currently price at daily time frame has formed Shooting Star candlestick pattern (To notice this candlestick pattern, there is a need to closure of a descending candle) that shows the first warning signals for the formation of a top price. Stoch indicator is in saturation buy area in daily time frame and also confirms the candlestick pattern according to the next cycle and warns about price reformation (due to not being in the same direction with weekly time frame, it is not so valid). By breaking this resistance peak of 1.49373, there will be a signal for more ascends in this currency pair.

FxGlory
2013.04.24

 

[FXGLORY]

Technical analysis of CHF/JPY dated 25.04.2013

CHF/JPY during the recent months and from the bottom price of 78.272 was in a strong and without reformation ascending trend that buyers could record the top price of 107.413. Price stopped by reaching to the important resistance level of 107.115 (related to the date 09.08.2011) and after trying to break this resistance level twice that was unsuccessful, the price created a top price under that level.

Beside the mentioned resistance level, as it is obvious in the picture below the Fibonacci level of 2.00 is also one of the target prices of buyers during the ascending of price and when the price reaches to this level, by cashing the buyers’ trades the price has dropped. According to the formation types of price movements on the chart, there is a descending Butterfly harmonic pattern and by completion of the D point of this pattern, there will be a warning for descending and changing price direction. In Weekly time frame in the previous week, the weekly candle appeared as a Hanging Man candlestick pattern (to notice this candlestick pattern, there is a need to a descending candle as confirmation) that shows the possibility for formation of a top price and ending up the ascending of the price).

RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for changing price direction. Generally according to the formed sign in the price chart until the top price of 107.413 is preserved, the price has the potential for descending in this currency pair.

FxGlory
2013.04.25

 

[FXGLORY]

Technical analysis of GBP/CHF dated 26.04.2013

As it was mentioned in the previous analysis of this currency pair dated 19.04.2013 according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. During this process, buyers were able to register the highest price of 1.46438 that is one of their target prices for ascending of the price. As it is shown in the picture below, right now the price by reaching to the resistance line of ascending channel has stopped and has created a top price on it which shows cashing of the buyers trades and exit of some of them from the buy trades.

Between the bottom price of 1.39615 and top price of 1.46438, there is a descending AB=CD harmonic pattern, with the ratios of 78.6 and 127.2 that by completion of the ending point of this pattern, there is a warning for price reformation (Due to the rapid growth in CD wave and not completing of it, this pattern is not ideal).In the mentioned resistance level according to the formed movements, there is an ideal Shooting Star candlestick pattern that warns about formation of a top price and descending trend. RSI indicator is in saturation buy area in 4H time frame that confirms the top price of 1.46438 and warns about price reformation. In long term interval, there is the possibility for ascending of the price and the created top prices may be unstable.

FxGlory
2013.04.26