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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #111

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    Technical analysis of GBP/CHF dated 24.10.2012

    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.



    FxGlory
    2012.10.24

  2. #112

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    Technical analysis of EUR/ NZD dated 25.10.2012

    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.



    FxGlory
    2012.10.25

  3. #113

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    Technical analysis of EUR/CAD dated 26.10.2012

    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.


    FxGlory
    2012.10.26

  4. #114

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    Technical analysis of CHF/JPY dated 29.10.2012

    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.



    FxGlory
    2012.10.29

  5. #115

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    Technical analysis of GBP/CHF dated 30.10.2012

    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.



    FxGlory
    2012.10.30

  6. #116

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    Technical analysis of USD/CAD dated 31.10.2012

    In USD/CAD by breaking of the resistance line of descending cannel, the field for increase of the price was provided as we mentioned in the previous analysis of this currency pair dated 15.10.2012. Right now the price could record the resistance level of 1.00177 during its ascend. as it is obvious in the picture below , the reason for stoppage of this currency pair and closing of descending candle in 30th day is being in an ascending channel and the formation of AB=CD harmonic pattern .

    Between the bottom price of 0.96317 and the top price of 1.00177, AB=CD harmonic pattern with 50 to 200 ratio is formed which the D point of this pattern is completed and there is the possibility of descending of the price. The formation of D point of harmonic pattern in resistance edge of ascending candle makes the possibility of formation of a top price and finally a downfall. Stoch indicator is in saturation buy area in this time frame and warns the possibility of descending of the price. The first sign for starting of descending in price is passing of 0.99819 level. Generally until the top price of 1.00177 is preserved, there is the possibility of decrease and price reformation in daily time frame.



    FxGlory
    2012.10.31

  7. #117

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    Technical analysis of EUR/USD dated 01.11.2012

    EUR/USD on 17.10.2012 by reaching to the determined resistance range which is originated from top price of 17.10.2012, was not able to pass this resistance level and finally had a downfall .during the downfall of this currency pair, the price has been stopped by reaching to the ascending trend line and has formed a bottom price on this line (the formation of fourth point of ascending trend line).With the closing of ascending candle on the supportive line on 30th day this point is fixed and there was a warning for the possibility of ascend but more with the closing of descending candle with long upper shadow (Shooting Star candle pattern) on 31st day this possibility was weaker .

    Right now the ascending trend line is preserved and Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle. Daily time frame’s signal doesn’t have a high validity because the daily time frame indicator signal is not in the same direction with weekly time frame. Closing of ending today descending candle and breaking of ascending trend line is the first warning in this currency pair for reformation and descend. Generally until the fourth point of ascending trend line on the level of 1.28851 is preserved, the price has the potential for ascend and increase.


    FxGlory
    2012.11.01

  8. #118

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    Technical analysis of USD/CHF dated 05.11.2012

    As it was mentioned in the previous analysis of this currency pair, according to the formed signs, there was the possibility of ascending of the price which finally happened .By breaking of descending trend line the first warning for ascending of the price is issued. After breaking of descending trend line, the price had a little descend and by reaching to the descending trend line with the new property (new supportive level) has been stopped and has made the Hammer candlestick pattern.

    The formation of this pattern shows the possibility of formation of a bottom price and ascends of price. Stoch indicator is in the line between the saturation buy and sell and issued the buy signal and warns the possibility of ascending of the price. Right now the price during its ascend has reached to the descending trend line which is made of two resistance peak and two descending candles closed under this resistance line. The top price of 0.94154 is recorded and breaking of this line is a warning for ascending of price. In daily time frame of this currency pair the bottom price of 0.92142 is recorded by the two ascending candle and the price is above 5-day moving average. Stoch indicator confirms the ascending trend in this time frame and warns its possibility. Generally according to the formed signs , there is the possibility of ascending of price in this currency pair .



    FxGlory
    2012.11.05

  9. #119

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    Technical analysis of EUR/JPY dated 06.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 16.08.2012 according to the formed signs, there was the possibility of ascending of the price which finally happened. The price starts to ascend from the 5th point of Wolfe Wave pattern and goes toward the goal line. Right now the price reached to the descending trend line which is made of the points 2 and 4, and by reaching to this line, it was not able to ascend more and made a top price under this resistance level.

    In daily time frame of this currency pair the top price of 104.592 is recorded and the weekly candle as Shooting Star candle stick pattern shows the failure of the buyers in reaching to the upper prices and also it warns the formation of a top price and finally the descend of price . In daily time frame the price is in divergence mode with RSI indicator and warns the possibility of descending of the price. The price during its downfall could pass the ascending channel and reaches to the supportive level of 102.121 which is one of the important supportive levels. Breaking of the supportive level of 102.121 is the first warning for descending of the price. In weekly and daily time frame of this currency pair, there is no stable sign for increase of price and start of the ascending trend. Generally until the top price of 104.592 is preserved, there is more potential for price reformation in this currency pair.


    FxGlory
    2012.11.06

  10. #120

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    Technical analysis of GBP/CHF dated 07.11.2012

    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 1.51145. As it was mentioned in the previous analysis of this currency pair dated 24.10.2012, there was the possibility of ascend in price by the formation of AB=CD harmonic pattern which finally happened. If the candle closes as descending trend today, there will be the top price of 1.51145. In daily time frame the descending trend line three times prevented from the increase of price and finally the price after each encounter with descending trend line had a downfall.

    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 in this time frame warns the possibility of ascending of the price during the next weeks according to the next cycle. 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 breaking of descending trend line. Generally until the top price of 1.51145 is preserved, there is the possibility of decrease and descend of price.



    FxGlory Broker
    2012.11.07

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