The USD/CAD stopped when it reached the drawn red resistance line. It was not able to pass the lien and started its falling. This resistance line is taken from the supportive blue line which has prevented the falling of the price three times. This currency pair is located in the descending channel. If the price ascended, this line would be the next most important resistance line of the channel. Right now, the price has formed the 1.01869 bottom price and the buyers are trying to take the 1.02196 resistance level.
Right now, the gold is located between the important supportive and resistance areas. These levels had leaded the price to the ascending and descending trends several times. Right now, as you can see in the below picture, the price started its falling and it has been stopped after reaching the descending trend’s line on 3rd of July. After reaching, the price formed the third point of the descending trend and during its return the price has been stopped by reaching the blue supportive lien. Right now, the formed bottom price is stable and the buyers hope for ascending of the price, reaching and passing the descending trend’s line.
Right now, the ascending trend of GBP/CHF currency pair has been stopped and it is not able to reach the higher prices. The price has recorded the 1.52538 level during its ascending trend. The shape of candle is closed like Doji Pattern because of the movement of the price in last day. This candle issues the warning of the formation of atop price. this pattern is located on the red line of resistance trend which consists of two resistance points which right now is preventing the ascend of the price.
Also, the Stoch indicator is located in the saturation buy are and show the potential of falling of the price.
An ideal harmonic pattern AB=CD
In the daily time frame we can find the harmonic pattern of AB=CD in an ideal situation which has the ratios of 61.8=161.8 and right now, is issuing the warning of falling of the price. By the way, until when the formed peak of the price is maintained, we can expect the falling and reform of the price.
The USD/CHF has registered the 0.98720 level during its ascending process and right now this level is the nearest and the most important resistance level in front of the currency pair. Currently the ascending trend is stopped and there is a top price. The formed peak of the price is potential for a descending trend and reform of the price. Stoch indicator also is located in the saturation buy are and by considering the next cycle is issuing the warning of falling of the price.
In the daily time frame we are noticing the butterfly pattern which is complete now and is issuing the warning of the falling of the price. Mostly, this pattern is formed at the bottom of the price trends and usually they are considered as the begging of a reformation process. Considering the formed top price, until this peak of the price is not broken, we can expect descend and falling of the price.
After recording the 96.154 level during the descending trend, the falling movement of the EUR/JPY will be stopped and will form a bottom price. The current bottom price will be formed on the transformative line (which has been descending trend line). This bottom price consists of three resistance points and also two supportive bottoms. Right now, this supportive bottom is supporting the 96.154 level.
Right now, in the daily time frame, an ascending harmonic pattern of Bat has been formed due to the movement of the price in the chart. This pattern is issuing the warning of starting of an ascending trend and finish of the falling of the price. Also, Stoch indicator is located in the saturation area of sell and is confirming the ideal harmonic by considering the next cycle.
By considering the formed technical pattern, we can expect ascend and increase of the price until point D is untouched.
Right now, the EUR/USD is located in the areas between the supportive and resistance lines and it recorded the 1.22959 level during its last ascend. Formation of this top price is caused by the descending trend line of the two previous top prices. Right now, in the daily time frame, a bottom price is formed on 12th and 13th of July due to the intense falling of this currency pair. These bottom prices issue the possibility of ascending in the price for the buyers as far as they are safe. The two drawn lines in the below chart can continue the trend if they broke.
USD/CAD started its falling after recording the 1.04447 level and was not able to continue its ascending trend. Right now, in the recent falls, this currency pair is located in a descending channel which you can see in the below picture. Also, we can see a Andrew’s Pitchfork pattern during the descending trend which has been acting good since 12th of July and the price has fallen. (The price has been stopped by facing the resistance edge of fork pattern and it was expected that a top price has been formed in this area).
Now, the price has been faced with the supportive edge of the descending channel and therefore has formed a bottom price. This bottom price has recorded the 1.00634 level. Also, RSA indicator is in the sell saturation area and we can expect the formation of a bottom price and after that ascend of the price. Right now, the price is not able for more descending and therefore, has formed a bottom price and as far as that, this bottom price is exists, we can expect the reform of previous trend in this chart.
The AUD/USD has recorded the 1.04429 level as the highest resistance level since its ascending trend on 06.01.2012. There is a resistance area in this level which consists of two top prices. These top prices prevented more ascend of the price which is indicated by the red line in the below picture.
Right now, the price has formed a top price on the resistance line and the price started falling. If the falling of the price continues the most important supportive level will be the blue supportive line which consists of four bottom price. Also, the Stoch indicator is increasing the possibility of descend of the price by stabling its position in the saturation buy area and its current signal. Considering the daily time frame and closure of the descending candle in the mentioned top price, we can expect descend of the price. Until the formed top price on the red resistance level is maintained, there is the possibility of descend of the price.
The GPB/CHF currency pair has started its ascending trend since 08.10.2011 and it was able to continue this trend up to now with some small reforms. It recorded the 1.54652 level during its ascending trend. The price is now located in an ascending channel. Also the price has been stopped when it reached the resistance line and has formed a top price. Therefore, the price has descended a little. Right now, in this currency pair, the Stoch indicator is located in the saturation buy area and by considering the next cycle, there is the possibility of descend of theprice. Also, this indicator is the divergence mode with the price.The general trend is an ascending trend in this currency pair, however, as far as the existence of the top price on the channel, we can expect the descend of the price.
This currency pair started its ascending trend after forming a bottom price. right now, this currency pair is stopped after reaching the determined resistance area in the below picture. This resistance area consists of the top prices of the previous price of this currency pair.
There are several candle stick pattern that are formed in the top price.
Doji Pattern
Hanging man Pattern
Harami Pattern
All of the mentioned candle stick patterns are issuing the warning of descend and fall of the price. However, by considering that the RSA indicator is located in the saturation sell area and also it is in a divergence mode with the previous price chart, it is issuing the warning of the falling of the price.We can notice the potential of the falling of the price in the 4h time frame and in the lower time frames. Until the mentioned top price is maintained, we can expect the reformation of the price.
