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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #121

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    ForexTechnical Analysis(FxGlory.com)

  2. #122

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    Technical analysis of USD/CAD dated 08.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 31.10.2012, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. The price during its downfall has been reached to the supportive edge of ascending cannel and has been stopped and formed the bottom price of 0.98740.

    The formation of long lower shadow on 7th day candle shows the importance and sensitivity of price to the ascending trend line, and finally the tradersí attention were toward this supportive level. If the ascending candle closes today, the bottom price of 0.98740 will record. Stoch indicator according to the next cycle warns the possibility of ascend and increase of price in daily time frame. The most important warning for ascending is the breaking of resistance level of 1.00187 and generally until the supportive level of 0.98740 is preserved; the price has the potential for ascending from supportive edge of ascending channel.



    FxGlory
    2012.11.08

  3. #123

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    Technical analysis of EUR/AUD dated 09.11.2012

    EUR/AUD from 05.10.2012 has a descending trend and right now it is in a descending channel. Right now the price has closed under 5 day moving average and follows the descending trend. The price by facing the supportive edge of descending channel and being in 50% Fibonacci correction has been stopped from more descend temporary and recorded the bottom price of 1.21924. The formed candle on 8th day is hammer candlestick pattern which warns the possibility of formation of a bottom price and finally ascend of price.

    Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle; also it is in divergence mode with the price chart and warns about ascending of the price. Closing of daily candle as ascending trend upper than hammer candlestick pattern recorded the bottom price of 1.21924 and is an important warning for ascending of the price. Generally until the bottom price of 1.21924 is preserved, there is the possibility of increase and price reformation.



    FxGlory
    2012.11.09

  4. #124

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    Technical analysis of EUR/GBP dated 12.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 01.10.2012, there was the possibility of the price ascend which finally the price passed the supportive level of 0.79230. The price during its ascend has recorded the resistance level of 0.81633 which is one of the important resistance level. The price during its downfall from the mentioned top price by reaching to the ascending trend line (the formation of the third point of ascending trend line) has been stopped from more descend and has recorded the bottom price of 0.795587 by closing of the daily ascending candle on 9th day.

    Stoch indicator shows the possibility of ascend (also the divergence mode with the price) in daily time frame according to the next cycle. In 4H time frame as it is obvious in the picture below , there is Wolfe Wave ascending pattern and warns the ascending of price up to the goal line . By the formation and completion of the 5th point of this pattern, there is a warning for ascend and increase of price. The price during its ascend from the 5th point of Wolfe wave pattern and reaching to the descending trend line is not able to ascend more and with the formation of two Shooting Star candlestick patterns has formed the top price of 0.80070 . Breaking of the descending trend line is the first important warning for ascending in this currency pair.



    FxGlory
    2012.11.12

  5. #125

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    Technical analysis of USD/CHF dated 14.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 05.11.2012, according to the formed signs, there was the possibility of ascending of the price which finally happened .The price during its ascend has recorded the price level of 0.95117 and now it is the most important resistance level in front of the price. Right now the price has been stopped from more ascend in daily time frame. The formation of Doji and Shooting Star candle stick pattern on 12th and 13th days shows the marketís indecision in ascending or descending of price, and finally there is a warning for formation of a top price and possibility of descending by these two candlestick patterns during the next days.

    Stoch indicator is in saturation sell area and warns the possibility of descending of the price according to the next cycle. According to the formed price movements the AB=CD harmonic pattern with 61.8 and 161.8 ratio has been formed that with the completion of the D point of this pattern ( the formed Candlestick pattern) there is a warning for price for descending of the price . Generally until the top price of 0.95117 is preserved, there is a potential for descending of the price.


    FxGlory
    2012.11.14

  6. #126

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    Technical analysis of EUR/JPY dated 15.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 06.11.2012 according to the formed signs, there was the possibility of descending of the price which finally happened. The price during its descending trend was able to record the supportive level of 100.318 and now this is the most important supportive level in front of the price. The price is currently closed over the 5-day moving average and is likely to ascend more.

    Stoch indicator shows the possibility of ascend frame according to the next cycle in this currency pair. As we mentioned in the previous analysis of this currency pair, in weekly time frame this currency pair, there is Wolfe Wave pattern which confirms the ascend potential and generally the price is moving toward the goal line of this pattern. the price is going to reach to the descending trend line which is made of the 2 and 4 points of Wolfe Wave pattern and by breaking and closing of the ascending candle on this line , there is the warning for more ascend of the price .



    FxGlory
    2012.11.15

  7. #127

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    Technical analysis of NZD/USD dated 16.11.2012


    As it was mentioned in the previous analysis of this currency pair dated 17.10.2012, according to the formation of the third point on ascending trend line and other formed signs, there was the possibility of the price ascend which finally happened. Right now the price has passed the ascending channel range and during its downfall could record the price level of 0.80776 .the bottom price of 0.80776 by facing the supportive line which is drawn in the picture below (the formation of the third point on ascending trend line).

    The most important sign and confirmation for the bottom price of 0.80776 is closing of ascending candle at the end of day which records this bottom price. Stoch indicator is in saturation sell area and warns the possibility of increase of the price according to the next cycle. Generally until the supportive level of 0.80776 is preserved, there is the possibility of increase in this currency pair.



    FxGlory
    2012.11.16

  8. #128

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    Technical analysis of GBP/USD dated 19.11.2012

    GBP/USD during its ascend from the bottom price of 1.52696 by reaching to the resistance level of 1.63000 (important resistance level because of being round) and after testing of this resistance level face a downfall that warns the formation of Shooting Star candlestick pattern which is observable in 21.09.2012 chart . The price was able to record the lowest supportive level of 1.58277 during its descending trend.This bottom price is on supportive level of descending channel and was recorded by the ascending candle on 16th day. Right now the price is closed above 5-Day moving average and there is the possibility of ascending of the price. If the price ascends the next important resistance level is 1.60000 and resistance edge of descending channel. Stoch indicator according to the next cycle shows the possibility of ascend during next days. Generally until the bottom price of 1.58277 is preserved, there is the possibility of increase and ascend in this currency pair.



    FxGlory
    2012.11.19

  9. #129

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    Technical analysis of USD/CAD dated 21.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 08.11.2012, according to the formed signs, there was the possibility of increase and ascends of price which finally happened. The price increased to the 1.00500 level and after that had a downfall which shows the attention of traders to this round resistance level and if the price ascends again this level will be one of the most important resistance level in front of price. The price has been stopped during its downfall from the top price of1.00544 by reaching to the supportive line of ascending channel and the supportive edge ( ascending trend line ) prevent it from more descend . Right now bottom price of 0.99558 has formed in this currency pair and the price had a little ascend.

    By closing of the ascending candle at the end of today this bottom price will be recorded. Now there is not any clear condition of this currency pair movement and it can be observable on 20th day with the formation of Doji candlestick pattern (indecision traders). In weekly time frame there is the possibility of formation of a top price by formation of Shooting Star candlestick pattern. Stoch indicator is in saturation buy area and warns the possibility of decrease of the price according to the next cycle. Generally until the bottom price of 0.99558 (it is not highly valid because of not approving b weekly time frame) is preserved, there is the possibility of increase and ascend of price in this currency pair.


    FxGlory
    2012.11.21

  10. #130

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    Technical analysis of USD/CHF dated 22.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 14.11.2012, according to the formed signs, there was the possibility of descending of the price which finally happened. One of the price targets is the descending AB=CD pattern with the Fibonacci level of 61.8 from CD wave. Right now the price during its descend has reached to the ascending trend line which is breaking and passing this supportive line.The bottom price of 0.93574 has formed but it needs the confirmation of the next ascending candles, and this price has not recorded yet. There is no clear reason for ascending of price and the price has been closed under 5-Day moving average and there is the possibility of more descends. as it is obvious in the picture below , the price during its descend from the top price of 0.95117 has formed the ascending AB=CD pattern with 78.6 and 127.2 ratios which the D point of this pattern is completed , but the buyers must wait for the record of t his bottom price for ascending . Breaking of the ascending trend line and the D point of harmonic pattern shows the continuous descend and powerful descending trend line.



    FxGlory
    2012.11.22

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