ForexTechnical Analysis(FxGlory.com)

[FXGLORY]

Technical analysis of CAD/JPY dated 29.04.2013

CAD/JPY in recent weeks has been in a strong and consistent trend in the price movements which buyers have been successful in reaching to the highest price of 98.763. Currently the mentioned price level is fixed as a peak price, and it is the most important resistance level in front of the price. One of the buyers’ goals for their trades is Fibonacci level of 50 and the resistance edge of the uptrend channel that some buyers have used these levels to exit trades that eventually led to the formation of a peak price on the resistance edge of the uptrend channel.

In weekly time frame RSI indicator is in saturation sell area according to the recent ascending and also according to the formed movements in the price chart, it is in divergence mode with it that warns the potential of changing price direction. In top price of 98.763, there are 3 Shooting Star,Hanging Man, and Engulfing candlestick patterns that All point to the possibility of formation of a top price and the potential for changing price direction. In case of descending, one of the target prices will be 94.491 level. The first important warning to start a price reformation is breaking of the supportive level of 95.798. Generally, according to the signs in the price chart, until the top price of 98.763 is preserved, the price will have the potential for reformation in this currency pair.

FxGlory
2013.04.29

 

[FXGLORY]

Technical analysis of GBP/USD dated 30.04.2013

As it was mentioned in the previous analysis of this currency pair dated 18.04.2013 according to the formed signs in this price chart, finally price could ascend from the bottom price of 1.52143. As it was mentioned in the previous analysis of this currency pair, in long term interval there is a good potential for ascending that the price starts to ascend by making the third bottom price on ascending trend line and the buyers could record the top price of 1.55443. Right now this resistance level in 4H time frame is as a top price and it is the nearest resistance level in front of price. By breaking of this level, the price will have the potential for ascending (according to the potential of ascending in long term interval).

According to the formed movements in the price chart, between the bottom price of 1.48317 and top price of 1.55443 and also from the bottom price of 1.50335 to top price of 1.55443, there are 2 AB=CD harmonic patterns with the ratios of 50 and 161.8 that by completion of the D point, there will be the possibility of price reformation in this currency pair. In daily time frame there is Shooting Star candle stick pattern which shows cashing of the buyers trades and the potential for formation of a top price. If today daily candle closes in a descending trend, it confirms this pattern. By breaking of the supportive level of 1.54660, there will be the first signal for descending of the price and price reformation in this currency pair.

FxGlory
2013.04.30

 

[FXGLORY]

Technical analysis of AUD/USD dated 01.05.2013

AUD/USD during the recent weeks was in an ascending trend that buyers were successful in reaching to the highest price of 1.03839. The price has stopped from more ascend by reaching to the resistance edge of uptrend channel and a top price was created on the resistance line by the buyers retreat. Right now the price level of 1.03839 is known as a peak price by closing of the descending candle. As it is obvious in the picture below, between the bottom price of 1.02195 and the top price of 1.03839, there is an ideal AB=CD harmonic pattern with the ratios of 61.8 and 16.8 that warns about the potential for a price downfall from the D point.

RSI indicator in 4H time frame is in saturation buy area of the D point confirms AB=CD harmonic pattern and make the potential for a price downfall possible. If the downfall continues, the supportive levels of 1.03374 and 1.03278 will be the target prices. According to the ascending potential in weekly time frame, price reformation of 4H time frame is not stable and by breaking the resistance level of 1.03839, the descending signal for 4H time frame will be invalid.

FxGlory
2013.05.01

 

[FXGLORY]

Technical analysis of USD/CHF 02.05.2013

USD/CHF on 24.04.2013 by reaching to the descending trend line has been stopped from more ascend and finally by creating a top price descended. Sellers during the recent descending were successful in reaching to the bottom price of0.92465. As it is obvious in the picture below, the sellers were not able to descend more by reaching to the ascending trend line (a place to cash their trades) that cause formation of the third point on ascending trend line and now this bottom price is fixed by ascending trend candles. RSI indicator in 4H time frame is in saturation sell area that confirms the third point of ascending trend line ( also in 1H time frame it is in divergence mode with the price chart) and warns the potential for ascending of the price.

One of the current target prices is the resistance level of 0.93116 and by breaking of it; there will be more potential for ascending in this currency pair (moving toward the descending trend line). Until the third point of ascending trend line is preserved, there will be the potential for ascending of the price. In daily time frame of this currency pair, price is under 5-day moving average and there is not any clear reason for ascending of the price. If the bottom price of 0.92465 succumbs, the price will find the potential for reaching to the next supportive level of 0.92055.

FxGlory
2013.05.02

 

[FXGLORY]

Technical analysis of GBP/NZD 03.05.2013

GBP/ NZD form 2000 till now was in a strong and coherent descending trend that sellers strictly followed their descending price targets. Price during the recent downtrend was able to record the bottom price of 1.76933 and it is fixed by the ascending candles. The mentioned bottom price is the lowest price in the history of this currency pair and generally the price is in a saturation sell area. In monthly time frame of this currency pair, there is a hammer candle stick pattern that warns about the potential for formation of a bottom price and ascending of the price for buyers. According to the formed movements in the price chart, between the top price of 2.25137 and the bottom price of 1.76933 there is an AB=CD harmonic pattern with ratios of 61.8 and 127.2 that by completing the ending point of this pattern, there will be a warning for ascending trend.

As it is obvious in the picture below, the price reacts by coming across the supportive line and prepared a field for price reformation by creating the bottom price of 1.76933. RSI indicator in weekly time frame is in saturation sell area (also in divergence mode with the price chart) that confirms the mentioned bottom price by the next cycle and warns about the potential of changing price direction. Breaking the resistance level of 1.83843 is a good warning for ascending of the price. Generally according to the formed signs in this price chart, until the bottom price of 1.76933 is preserved, there will be the potential for ascending and price reformation in this currency pair.

FxGlory
2013.05.03

 

[FXGLORY]

Technical analysis of USD/CHF dated 06.05.2013

As it was mentioned in the previous analysis of this currency pair dated 02.05.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened. Price has been stopped from more ascending during this ascend by approaching to the resistance Fibonacci level of 61.8 (where the buyers’ trades will cash) and by forming a top price under it , was finally forced to descend. The price by a little descending went toward the ascending trend line and by creating a bottom price prepared the field for another ascending. Right now in daily time frame, price is above 5-day moving average and is ascending and going toward the resistance line.

Stoch indicator in daily and weekly time frames confirms the bottom price of 0.92465 and according to the next cycle warns about the potential of ascending during the next candles. If the price ascends, the buyers’ targets will be resistance level of 0.93980 and in the next step the descending trend line. Breaking the important supportive level of 0.93000 is an important warning for the failure of the buyers in reaching to their target prices and continuing the ascending trend.

FxGlory
2013.05.06

 

[FXGLORY]

Technical analysis of GBP/JPY dated 07.05.2013

GBP/JPY from the middle of 2012 till now was in a strong ascending trend and it was in saturation sell area (in long term intervals). Right now the buyers during the recent ascending trend were successful in reaching to the highest price of 154.739 and this mentioned resistance level is the most important resistance level in front of the price that by closing of daily candle as a descending candle the price level of 154.739 will be recorded as a peak price. As it is obvious in the picture below, the price has been stopped from more descending by reaching to the supportive level of 153.790 ( alterant level from resistant to support) and by creating a bottom price in this saturation area starts to ascend which shows the potential for ascending in this currency pair.

According to the formed movements in the price chart, between the bottom price of 137.836 and the top price of 154.739 there is an ideal butterfly harmonic pattern that by completion of the D point, there will be the possibility for changing price direction in this currency pair. RSI indicator is in divergence mode with the price chart (if the price level of 154.739 confirms as a peak price) and warns about the potential for price reformation and changing price direction. The first sign for starting a reformation movement and descending of the price is breaking the alterantlevel of 153.790. Generally until the price level of 154.739 is preserved, the price has the potential for descending and price reformation in this currency pair.

FxGlory
2013.05.07

 

[FXGLORY]

Technical analysis of AUD/USD dated 08.05.2013

As it was mentioned in the previous analysis of this currency pair dated 01.05.2013, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. Sellers could reach to the lowest price of 1.01529 which is recorded as a bottom price and warns the potential for ascending of the price. During this price downfall, the price has been stopped from more descending by reaching to the area of important supportive levels made of 3 bottom prices date back to 2012.

According to the formed movements in 4H time frame, between the top price of 1.03840 and bottom price of 1.03840 there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that by completion of the D point in this pattern, there is warning for ascending of the price. Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the D point of this pattern and warns about the potential of ascending during the next candles( because of not being in the same direction with long term time frame it is not much valid).

In daily time frame, the price by making a peak price under a descending trend line starts to fall and right now it is under 5-day moving average. It also warns about the potential for descending of the price, so the ascending signals are less in 4H time frame and if the mentioned supportive level breaks, the field for more descend in this currency pair will be prepared. Until the supportive range is preserved, the price will have the potential for ascending.

FxGlory
2013.05.08

 

[FXGLORY]

Technical analysis of GBP/CHF dated 09.05.2013

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 of price ascending which finally happened.Buyers could reach to the highest price of 1.46562 which is recorded as a peak price. As it is obvious in the picture below, price has been stopped by reaching to the descending trend line made of 4 peak prices and also resistance edge of uptrend channel and by creating a top price it has descended.

According to the formed movements in daily chart of this currency pair, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between bottom price of 1.39621 and the top price of 1.46562 that by completion of the D point in this pattern, there is warning for descending of the price and changing price direction. Right now the first warning for descending of the price (in the same direction with harmonic pattern’s signal) is breaking of the supportive level of 1.45073.
According to this point in long term interval, there is a potential for ascending of the price in this currency pair. Sell signals in midterm time frames are temporary and risky. By breaking of the descending trend line and technical AB=CD pattern, there is a warning for more ascend in this currency pair.

FxGlory
2013.05.09

 

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