NZD/USD in 14.09.2012 has been stopped by reaching to the resistance level of ascending channel and has been made Shooting Star candle pattern and finally the price goes toward supportive line channel with its downfall. Right now the price has stopped by facing the ascending trend line (the formation of the third point on ascending trend line) and has made Hammer candlestick pattern on this line which shows the failure of buyers for reaching to the lower price.
During the last week as it is obvious in daily time frame, this currency pair is in neutral range (The formation of candles with a small body) that shows Market uncertainty and indecision. Stoch indicator in daily time frame shows the possibility of ascends and increases of the price in the next candles according to the next cycle. Generally until the bottom price of 0.81069 is preserved, there is the possibility of increase and ascend of price in this currency pair.
As it was mentioned in the previous analysis of Gold dated 08.10.2012, the price has been stopped and had a downfall by reaching to resistance levels. Right now in daily time frame, Gold by reaching to the Fibonacci level of 23.6 from 1527.03 to 1795.68 levels has been stopped and formed a bottom price on this Fibonacci level.Generally until the supportive level of 1728.07 is preserved, price has the potential of ascending from this bottom price. Stoch indicator in daily time frame shows the possibility of ascends and increases of the price in the next candles according to the next cycle. In 4H time frame the price has been stopped by reaching to the descending trend line and has formed a top price. Right now there is a little downfall in price and cannot pass this resistance level. There is the possibility of decreasing in price according to the descending trend line in 4H time frame. Breaking of descending trend line and closing of the first ascending candle on this line is the first warning for starting of the ascending trend and increase of price.
As it was mentioned in the previous analysis of this currency pair dated 09.10.2012, according to the formed signs, there is the possibility of ascend which finally It happened. the price during its ascend , by reaching to the 50% Fibonacci level ( one of the most important recursive ratios ) has been stopped from AB wave and warns the formation of a top price . The formation of Shooting star and Harami candle patterns shows the failure of sellers in reaching to the higher prices and the formation of a top price and finally decreases of price.
Stoch indicator in daily time frame is in saturation sell area and shows the potential of descending of the price. In 4H time frame of this currency pair , right now there is AB=CD harmonic pattern with the ratios of 61.8 and 161.8 which the D point of this pattern is complete and keeps going . The formation of a bottom price of 1.03525 during descending from D point of AB=CD pattern shows facing of price with the drawn channel (from resistance to supportive). The starting point of this cannel is the supportive bottoms of A and C. The price for more descend needs to eliminate the supportive bottom of 1.03525 , generally according to the formed signs , until the resistance top of 1.04099 is preserved the price has the potential of descend and decrease .
USD/CHF in its descending by reaching to the level of 0.92114 has been stopped and has formed a supportive bottom. Right now the price in its ascending trend has reached to descending trend line and has stopped as it is obvious in the picture below. Despite the fact that descending trend line in 09.10.2012 had been broken once and the price passed that level, but it preserved its property. The price in its ascending trend and reaching to descending trend line recorded a resistance top of 0.92886 which is obvious in 4H time frame.
Stoch indicator is in the same direction with the formed bottom in the price chart in daily time frame and shows the possibility of ascend in price according to the next cycles. RSE indicator is in divergence mode with the price chart which shows the possibility of formation of a bottom price for ascending. The most important sign for ascending and ending of descending trends is the formation of a bottom price in 4H time frame and finally breaking of the descending trend line and resistance level of 0.92886 in the second stage.
EUR/CAD in its recent ascend could record the highest price level of 1.30094. The price level of 1.30000 has the important psychic and resistance property because of being round that is known as resistance level here and traders pay attention to it. As it is obvious in the picture below, this currency pair is in an ascending channel which the price has reached to the resistance edge of it and has been stopped. The top price of 1.30094 is fixed and the price decreased in the same direction of Stoch indicator in 4H time frame.
RSI indicator is in divergence mode with the price and shows the potential of descending of the price . The top price of 1.30094 in daily time frame appeared like a Shooting Star candle pattern that is the warning for descend and the possibility of formation of a top price. The best confirmation for this candle pattern is closing of relatively long descending candle on today. Stoch indicator is in saturation buy area in daily time frame and shows the possibility of descend in next candles. Generally until the top price of 1.30094 is preserved, the price has the potential for descend and more reformation in this currency pair.
GBP/CHF in its descending trend from the top price of 1.54952 by reaching to the ascending trend line which is made of two supportive bottoms has been stopped and has been made the third point of this ascending trend line this supportive bottom has been fixed in the level of 1.48187 and has been confirmed by the next day ascending candle. As it is obvious in the picture below , right now in daily time frame AB=CD ascending pattern with the ideal ratios of 61.8 and 161.8 is observable that with the completion of the D point there is a warning about increase of price and ascend by this pattern .formation of the third point of ascending trend line with the end point of AB=CD pattern is a powerful signal in changing the trend direction. Stoch indicator in daily time frame is in the same direction with the signals of harmonic pattern and according to the next cycle, shows the potential of increase of the price during the next candles. Generally until the supportive bottom of 1.48187 is preserved, there is the possibility of increase and ascend of price in this currency pair.
EUR/ NZD has been stopped during its ascend from the bottom price of 1.49631 by reaching to the descending trend line which is made of 2 resistance points , and was not capable of crossing this resistance level . Right now the third point of descending trend line has been made and the top price of 1.60541 has been recorded by the big descending candle of 24th. RSI indicator is in divergence mode with the price chart and warns the possibility of more descend during the next candles.As it is obvious in the picture below, the technical Wolfe wave pattern is observable in daily time frame which the 5th point of this pattern is completed and the price is moving toward the goal line .this pattern often make correct signals In order to change the trend in price charts. Generally until the top price of 1.60541 is preserved, the price has the potential for descend from the third point of descending trend line. By the formation of a bottom price in 4H time frame and breaking of descending trend line, there is the possibility of ascending of the price and one of the important goals for the buyers will be the Wolfe wave goal pattern line.
EUR/CAD during its ascend has reached to the descending trend line which is made of fourth resistance point and has been stopped from more ascend. As it is specified in weekly time frame of this currency pair, the price has been stopped by reaching to descending trend line and had a small downfall. Stoch indicator is in saturation sell area in weekly time frame and warns the possibility of descend according to the next cycle.
The first important warning for ascending in weekly time frame is closing of ascending candle on descending trend line. In daily time frame, the price is in an ascending channel and by reaching to the resistance edge of channel faced with a downfall and decrease. The top price of 1.30091 is fixed by the descending candle in 23th day and the price descends a little. The first important supportive level in front of the price is the conversion level which is specified in the price chart that had stopped the downfall of price twice. Generally until the top price of 1.30091 is preserved, the price has the potential for descend in this currency pair.
CHF/JPY with the formation of a bottom price in the third point of ascending trend line (the C point in the picture below) start to ascend and during its movement recorded the resistance level of 86.358. Right now the most important resistance level in front of price is 86.358 level. The price in daily time frame has been closed under the five day moving average, and there is the possibility of more descends of price.
As it is obvious in the picture below, there is a descending Butterfly harmonic pattern, which the D point of this pattern is completed and the price is going to descend and decrease. Butterfly harmonic pattern often forms at the end if ascending or descending trends and it is an important warning for changing of the trend. In weekly time frame of this currency pair the weekly candle is closed as descending trend , and its type is Shooting Star pattern that warns the formation of a top price and starting of a descend . Generally until the top price of 86.358 which is the ending level of (D point) Butterfly pattern is preserved, there is the possibility decrease and descend of price.
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 1.51100. Right now this top price is fixed by the descending candle in 29th days. The drawn descending trend line in daily time frame had prevented from ascending of price three times, and finally the price after each encountering with the descending trend line faced a downfall.
Stoch indicator in daily time frame shows the possibility of descending of the price according to the next cycle. 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 is in saturation sell area in this time frame and warns the possibility of ascending of the price during next weeks. 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 the formation of a bottom price in daily time frame and breaking of the descending trend line.
