EUR/NZD from 2009 in a long term interval was in a strong descending trend and could record the bottom price of 1.49689. as it is obvious in the picture below, the price by reaching to the historical supportive level of 1.52126 ( formed on 1988 ) after testing this level was not able to cross it and descend more and in this area a bottom price is formed by closing of the next ascending candles. Right now it seems that price is in saturation sell area and according to the descending trend there is not a significant price reformation.RSI Indicator is near the saturation sell area in monthly time frame and warns the potential for ascending of the price. In daily time frame of this currency pair, there is a Wolfe wave pattern which the price from the 5th point of this pattern starts to ascend and follows the target line. Generally in long term interval until the bottom price of 1.52126 is preserved, the price will have the potential for reformation in this currency pair during the next months.
USD/CAD from 2002 is in long term interval, generally it is in a descending trend and right now it is in the range of lowest historical prices. In monthly time frame of this currency pair, the price by making a hammer candlestick pattern in the level of 0.96385 by the next candles has ascended. This is a reason for failure of sellers in reaching to the lower prices. According to the long descending trend of this currency pair from 2002, it is in saturation sell area and there is the potential for ascending and reformation of the price during the next months.As it is obvious in the picture below according to the formed movement in the chart, there is Gartley harmonic pattern with the ideal ratios that with the formation of the D point of this pattern, there is a warning for increase and ascend of price. Generally until the bottom price of 0.96385 is preserved, the price has the potential for ascending from the harmonic pattern.
CAD/JPY during the recent weeks could ascend without reformation and record the top price of 91.429. Right now this is one of the most important resistance levels in front of price and by breaking of this level; there is the possibility of ascending up to the resistance level of 94.000. According to the two candles in previous week the price appears as a Hanging Man candlestick pattern that there is the possibility of formation of the top price and vulnerability of ascending trend .there is a need for closing of a descending candle during this week to confirm this event.As it is obvious in the picture below, according to the formed movements , the AB=CD harmonic pattern with the ratios of 78.6 and 161.8 is formed and by completing the D point of this pattern, there is a warning for descending in this currency pair. Stoch indicator in weekly time frame is in saturation sell area and warns the possibility of stopping of the ascending trend by the next cycle. Generally until the top price of 91.429 is preserved, the price has the potential for descending and reformation.
As it was mentioned in the previous analysis of this currency pair on 23.11.2012, according to the formed signs there was the potential for increase of price which finally happened. EUR/GBP from 23.07.2012 had a strong ascend and could record the top price of 0.85843 (right now the price has been stopped by reaching to the Fibonacci level of 61.8). As it is obvious in the picture below, from the bottom price of 0.79592 till now there was a strong and without reformation ascend and there is a warning for price reformation and ceasing of the price ascends in the market. According to the formed movement in the price chart , there is AB=CD harmonic pattern between the bottom price of 0.77612 and top price of 0.85843 with the ideal ratios of 50 to 200 and by completing the D point of this pattern there is the possibility for formation of a top price.
In the range of the D point, there is a Hanging Man candlestick pattern which is not a good sign for the buyers and continue of ascending trend.RSI indicator is in saturation buy area and warns the formation of a top price and descend of price in this range. According to this point in weekly chart there is not a clear reason for descending of the price and by breaking of the top price of 0.85843, the price will have the potential for increase and ascend during the next days.
GBP/USD during its descend from the top price of 1.63810 had a great downfall and recorded the bottom price of 1.56738. The price during its ascend from the bottom price of 1.56738 of could pass the descending trend line and is above 5-day moving average that generally warns more ascending. The formed bottom price is in 127.2 supportive Fibonacci level and right now is one of the most important supportive levels in front of price. As it is obvious in the picture below, price is in divergence mode with the MACD indicator and there is a possibility of price change in this chart.
Right now the bottom price of 1.56738 is supported by an important ascending trend line dating back to 2009. This bottom price is the 6th point of this ascending trend line and by fixing of this point there is a possibility of changing in price direction during the next weeks. Generally according to the mentioned signs until the ascending trend line is preserved for a long time, the price has the potential for ascending in this currency pair.
USDSGD from 2001 was in a great descending trend and could record the bottom price of 1.19914. With the formation of this bottom price on Fibonacci level of 161.8, the field is prepared for the formation of a successful bottom price and ascends. As it is shown in the picture below, according to the formed movements the price is in divergence mode with the RSI indicator and warns about the formation of a bottom price and change in price direction. With the formation of the bottom price of 1.21489 and closing of price above 5- day moving average and there is the possibility of long term ascending in this currency pair.
Stoch indicator in this time frame confirms this bottom price according to the next cycle. In the mentioned bottom price there is an important Morning Star candlestick pattern which is formed from 3 star candles and warns the possibility of increasing of the price. According to the mentioned signs until this bottom price is preserved, there is the potential for price increase and reformation in this currency pair.
USD/CHF during the previous week had a descending trend that could record the bottom price of 0.90204. Right now the price is below 5-day moving average in daily time frame which shows a strong descending trend. In the last day of previous week, the price by reaching to the supportive line and level of 0.90423 (as it is shown in the picture below, it is made of two bottom prices) has been stopped from more descend and the sellers cannot reach to the lower prices. With the formation of a hammer pattern, there is a warning for formation of a bottom price and changing direction in the chart but closing of the ascending candle at the end of day is necessary for attention to this signal.Stoch indicator is in saturation sell area in daily time frame that shows a strong descending trend but generally according to the next cycle, there is the possibility of price reformation. If the 0.90204 price level breaks, there will be important supportive levels of 0.90000 and 0.89316 that the price is able to reach them. Among these two supportive levels, the level of 0.90000 has a special importance for traders because of being rounded.
EUR/CHF during its strong ascend ( from 10.01.2013 to 18.01.2013) by reaching to the previous resistance level in 1.24672 range, after testing it to break and passing of it by buyers twice ,the price could not pass this resistance level and faced a downfall. The price could record the top price of 1.25673 which is one of the most important resistance levels in front of price. By fixing of this top price with the next descending candles, the price reforms and descends. Also it could record the bottom price of 1.22565. Right now the price has been stopped by reaching to the supportive edge of descending channel and in 4H time frame has been made two candles with small body which shows indecision market to ascend or descend.
Between the top price of 1.25673 and bottom price of 1.22565, there is AB=CD harmonic pattern with the ratios of 76.4 and 127.2 that with completing the D point of this pattern there is a warning for ascending from the supportive edge of descending channel. RSI indicator is in saturation sell area and warns the formation of a bottom price in the next stage of ascends. Generally according to the formed signs until the supportive edge is preserved, the price has the potential for ascending and continuing its previous trend.
GBP/CHF during the past two weeks had a strong descending trend without reformation and could record the bottom price of 1.41815. The price by reaching to the determined supportive levels could not pass of them and they prevented the price downfall. The price had a downfall from the top price of 1.50016 that seems some of the sellers try to withdraw the profit of their trades and leave the market. Formation of a strong ascending candle in 4H time frame (8:00) confirms this matter.
According to the recent ascending trend the price could break the descending trend line (that prevented ascending of price three times) and it is a warning for changing price direction. RSE indicator is saturation sell area in daily time frame and in 4H time frame is in divergence mode with the price chart and warns the potential of changing price direction. Generally until the price level of 0.41753 is preserved, the price has the potential for reformation in this currency pair.
AUD/NZD is in long term interval of a descending trend and could record the bottom price of 1.22196. By breaking this level the price will find the ability to reach the important supportive level of 1.21000. Yesterday candle with a small body shows indecision market to ascend or descend and this is a warning for sellers in changing price direction (it is a need for confirmation of other factors). Between the top price of 1.30727 and the bottom price of 1.22196 there is a non-ideal AB=CD harmonic pattern with the ratios of 61.8 and 127.2 that with completing the D point of this pattern, there is a warning for ascending of the price.
An interesting point is the formation of a butterfly pattern inside the AB=CD pattern that simultaneously shows changing of price direction. RSI indicator is in saturation sell area that supports the price level of 1.22196 and generally warns about changing of price direction. According to the formed signs until the price level of 1.22196 is preserved, the price has the potential for ascending and reforming of the previous descending trend in this range.
