GBP/AUD is in a long term descending trend that right now is in the lowest price levels during the recent 20 years. The price in this currency pair during the descending trend could record the bottom price of 1.43759. as it is obvious in the picture below, the price by reaching to the blue supportive level ( made of 2 bottom prices) has been stopped from more descending . In weekly time frame formation of candles with long lower shadow shows the sellers failure in reaching to the lower prices and warns about the potential for formation of a successful bottom price for increasing of the price.According to the formed movements in the price chart, between the top price of 1.61781 and the bottom price of 1.43759 there is an ideal harmonic pattern with the ratios of 78.6 and 127.2 that by completing the D point of this pattern, there is a warning for ascending of the price and changing price direction. Generally until the bottom price of 1.43759 is preserved, the price has the potential for ascending and changing price direction in this currency pair.
EUR/USD from 04.02.2013 was in a reforming and falling trend that could record the bottom price of 1.27505 during this descending trend. The price has been stopped during its descending trend by reaching to the supportive level (made of 2 bottom prices) and has made the bottom price of 1.27505 that provides the filed for stopping of the price downfall. In long term time frames such as weekly and monthly time frames, the price has closed under the 5-day moving average that shows a descending trend and generally there is no clear reason for ascending of price in long term intervals in this currency pair. As it is obvious in the picture below, in 4H time frame the price descends from the top price of 1.28771 that by reaching to the ascending trend line has stopped and has created a bottom price.Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the created bottom price and warns about the possibility of ascending of the price during the next candles. According to the next descending trend line, the first warning for changing trend direction and increasing of the price is breaking of this resistance line.
EUR/NZD was in a descending trend from the top price of 1.63538 that could record the bottom price of 1.51770. Right now this bottom price is fixed by the next ascending candles and is the next nearest supportive level. If this supportive level breaks , the price will have the potential of reaching to the important supportive level of 1.50000.as it is obvious in the picture below, the price in a descending channel during its descending trend that the supportive level of this channel prevent it from a downfall for several times and each time the price has ascended. According to the formed movements in the price chart, the price and RSI indicator are in divergence mode and warns about the potential of changing price direction in this currency pair.
In daily time frame there is a hammer candlestick pattern (also a Harami pattern) that shows the sellers retreat for reaching to the lower prices that it needs confirming with closing of an ascending candle. By breaking of the resistance level of 1.53747 and passing of it, there will be an important signal for changing price direction and the buyers will find more hope to control the market. Generally until the bottom price of 1.51770 is preserved, the price has the potential for reformation and ascending.
USD/CAD during the ascending trend by reaching to the descending trend made of (2 peak prices) has been stopped from more ascend and by forming of a top price under this resistance line finally descend. Right now the price could record the bottom price of 1.01000 and as it is obvious in the picture below, this level is in alterant level (resistance to supportive) that prevent from more descending of the price. According to the formed movements in this price chart , between the top price of 1.3400 and the bottom price of 1.01000 there is an AB=CD harmonic pattern with the ideal ratios of 61.8 and 161.8 that by completing the D point of this pattern, there will be a warning for ascending of the price.In 4H time frame in the range of D point of harmonic pattern, there is a hammer candlestick pattern with long lower shadows that confirms this D point and possibility of formation of a bottom price in this chart. If the supportive level of 1.01000 breaks, the price will find the potential for reaching to the important supportive level of 1.00000.
As it was mentioned in previous analysis of this currency pair dated 25.03.2013, according to the formed signs there was a potential for descending of the price and movement toward the Neck line in Inverted head and shoulders pattern that finally happened. As it is obvious in the picture below the price has an ascending trend and without reformation from the bottom price of 1.53617 that could record the top price of 1.53617 during this trend. The mentioned bottom price was created by reaching of price to the descending trend line (resistance to supportive property) and was the beginning of ascending trend.
Right now the price in 4H time frame by reaching to the resistance line of ascending channel has stopped and has created the top price of 1.5361 which is fixed by the descending candles. According to the long term time frames like weekly and monthly time frames, there is not any clear reason for descending of the price and the price in both time frames is closed above 5day moving average. This situation shows unstable reformation and descends in 4 H time frame. Generally until the top price of 1.53617 is preserved, the price has the potential for descending and reformation in this currency pair and by breaking this price level in 4H time frame, there is the possibility of more ascending of price ( according to the technical analysis of 13.03.2013).
USD/JPY was in a strong ascending trend and without reformation that could record the top price of 99.618 which is the next nearest resistance level of this currency pair. According to the strong ascending trend and not having a clear technical reason for descending of the price in long term time frame, if the mentioned peak price breaks, the price will have the possibility of reaching to the important round level of 100.000 for the first target.In 4H time frame there is a Evening Star candlestick pattern (with 2 stars) on the peak price of 99.618 according to the type and formation of the price candles that shows the potential for formation of a successful top price and after that a downfall.As it is obvious in the picture below, between the bottom price of 90.871 and the top price of 99.618 there is AB=CD harmonic pattern with the Fibonacci ratios of 61.8 and161.8 (also The Three Drives Pattern harmonic pattern) that warns about descending of the price.RSI and stoch indicator are in saturation buy area and warn about the descending of the price according to the next cycle. Generally until the top price of 99.618 is preserved, there is the potential for reforming of the ascending trend in this currency pair.
CAD/JPY from the bottom price of 91.166 was in a strong ascending trend without reformation that could record the top price of 97.983. According the general ascending trend and not observing a clear technical reason for descending of price in long term time frames, if the price level of 97.983 breaks, the price will have the potential of reaching to the resistance range in this currency pair.To review trades with some buyers, the price has been stopped from more ascend which is shown by forming of the candles with small body (also candlestick pattern shows formation of a top price).
As it is obvious in the picture below, between the bottom price of 88.507 and the top price of 97.983 there is AB=CD harmonic pattern with the ratios of 50 to 200 that by completing the end point of this pattern, there will be a warning for forming of a top price.RSI indicator is in saturation buy area and that shows the possibility of having a top price and then a downfall. The first important warning for starting a reformation in ascending trend and falling of the price is breaking of the supportive level of 96.960 (the lowest changing price level on the previous day).
NZD/USD during the last week has experienced an ascending trend that could record the top price of 0.86754. As it is obvious in the picture below, the price is in an ascending trend and fluctuating in an ascending channel. The price during the ascending trend by reaching to the resistance line of ascending channel and also the Fibonacci level of 127.2 has been stopped from more ascend and started to reform the ascending trend.
Between the bottom price of 0.80492 and the top price of 0.86754, there is an AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that warns about changing price direction. According to the formed movements in the chart, Stoch indicator is in saturation buy area and confirms the top price of 0.86754 by the next cycle and warns the possibility of descending of the price during the next days. In long term time frames such as weekly and monthly time frame, the price is above 5-day moving average and there is not any clear reason for descending of the price. If the price level of 0.86754, the price find the potential of reaching to highest historical level of 0.88422 this currency pair.
As it was mentioned in the previous analysis of this currency pair dated 09.04.2013, according to the formed signs in the price chart, there was the potential for descending of the price that finally happened. The price during the downfall could record the bottom price of 95.806.right now in 4H time frame the mentioned price level is fixed by an ascending candle and act as a bottom price.According to descending of the price in last week, the previous week candle has appeared as a Shooting Star candlestick pattern that shows the buyers failure in reaching to the upper prices and vulnerability of ascending trend that will be fixed by closing of the descending candle at the end of this week. As it is obvious in weekly time frame, according to the formed price movements, there is an ideal Three Drives Pattern harmonic pattern that warns about changing price direction.
RSI indicator is in saturation buy area and it is in divergence mode with the price and confirms the Shooting Star candlestick pattern. The first warning for starting of a descending trend and decrease of price is breaking of the supportive level of 95.806. Generally according to the formed signs in the price chart until the resistance level of 100.000 is preserved, the price has the potential for reformation and descending in this currency pair.
Gold price has experienced a severe descending trend and could record the bottom price of 1320.30. This bottom price is fixed by the ascending candles in 4H time frame and is the most important supportive level in front of the price. As it is obvious in the picture below, the price has been stopped and formed a bottom price by reaching to the supportive edge of descending channel during the descending trend.Closing of descending candle of Spinning top pattern type in previous day shows indecision market for ascending or descending and the buyers doubt in reaching to the lower prices.
Also the combination of this pattern with the big descending candle on 15th day will create the Harami candle stick pattern that warns about formation of a bottom price and finally ascending of the price.
Between the top price of 1920.31 and the bottom price of 1320.30, there is AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that from the D point of this pattern, there is the potential for ascending and price reformation.RSI indicator is in saturation sell area in daily time frame and also confirms the D point of harmonic pattern by the next cycle and warns about the possibility of changing price direction. Generally until the price level of 1320.30 is preserved, the price has the potential for reforming of the descending trend.
