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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #131

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    Technical analysis of EUR/GBP dated 23.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 12.11.2012, according to the formed signs, there was the possibility of the price ascends which finally happened. The price by making the third point on ascending trend line at the level of 0.79587 and fixing of it starts to ascend and there is no clear reason for descending in the daily time frame .as it is obvious in the picture below, the price on 15th day reached to the target price which Wolfe Wave pattern was predicted and after that decreased. This shows the importance of the technical pattern in analysis.Right now the price by breaking the resistance level of 0.80639 and being above the 5-day moving average, there is the possibility of more ascends during the next days. Stoch indicator is near the saturation buy area and warns the possibility of increase of the price during of the next candles. Generally until there is no sign for the formation of a top price in daily time frame, the price has the potential for more ascend in this currency pair.



    FxGlory
    2012.11.23

  2. #132

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    Technical analysis of EUR/GBP dated 23.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 12.11.2012, according to the formed signs, there was the possibility of the price ascends which finally happened. The price by making the third point on ascending trend line at the level of 0.79587 and fixing of it starts to ascend and there is no clear reason for descending in the daily time frame .as it is obvious in the picture below, the price on 15th day reached to the target price which Wolfe Wave pattern was predicted and after that decreased. This shows the importance of the technical pattern in analysis.Right now the price by breaking the resistance level of 0.80639 and being above the 5-day moving average, there is the possibility of more ascends during the next days. Stoch indicator is near the saturation buy area and warns the possibility of increase of the price during of the next candles. Generally until there is no sign for the formation of a top price in daily time frame, the price has the potential for more ascend in this currency pair.



    FxGlory
    2012.11.23

  3. #133

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    Technical analysis of GBP/JPY dated 26.11.2012

    GBP/JPY during the previous days had a good ascending trend without price reformation and could record the top price of 132.414 which is the nearest level in front of the price. The price by reaching to the resistance edge of ascending channel has made a top price that by closing of descending candle under the this resistance edge this top price will be confirmed . as it is obvious in the picture below , the price during its ascend has formed the AB=CD harmonic pattern with the non ideal 78.6 and 161.8 ratios which by completion of the D point of this pattern , there will be a warning for descending of the price.RSI indicator is in saturation buy area in daily time frame also in divergence mode with the price chart that warns the possibility of descending of the price. Generally until the top price of 132.414 is preserved, the price has the potential of descending and the ascending trend reformation.



    FxGlory
    2012.11.26

  4. #134

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    Technical analysis of NZD/USD dated 27.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 16.11.2012, according to the technical formed signs there was the possibility of the price ascend from the bottom price of 0.80776 which finally happened. The mentioned bottom price is formed on ascending trend line and the supportive edge of descending channel that recording this bottom price ( by the next ascending candle ) there is a warning for ascending of price . The price during its ascend has recorded the resistance level of 0.82475 and it has been stopped from more ascend by reaching to the resistance edge of descending channel. The first important warning for more descend is the breaking of the supportive level of 0.82109 which is the lowest changing level candle on 26th day. According to the weekly time frame of this currency pair which there is more ascending trend , if the bottom price of 0.82109 is preserved ,there will be the possibility of more ascend and catching the resistance edge of descending channel ( second ) . Generally now the price is not able to pass the resistance edge of descending channel (first) and until this top price is preserved on the level of 0.82475, there is the possibility of descending of the price.



    FxGlory
    2012.11.27

  5. #135

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    Technical analysis of GBP/USD dated 28.11.2012

    As it was mentioned in the previous analysis of this currency pair dated 19.11.2012, according to the technical formed signs there was the possibility of the price ascend which finally happened. The price ascends by making a bottom price on the level of 1.58277 and recording of it by ascending candle on 16th day and during this ascend could record the top price of 1.60542 . Right now the price has been stopped from ascending trend and there is a descending trend in the price chart.Formation of two candles with Small Body (formation of Hanging Man candlestick pattern is an important warning for the buyer’s loss in more ascend) after the big ascending candle on 23rd day shows indecision market for reaching to higher prices. The formed top price is on the resistance Fibonacci level of 61.8 which the price must break this level for more ascend and if not there is the possibility of reformation and downfall by this technical tool. Stoch indicator is in saturation buy area in daily time frame and warns the possibility of decrease of the price according to the next cycle. Generally until the top price of 1.60542 is preserved, there is the potential for decrease and descend of the price in this currency pair .



    FxGlory
    2012.11.28

  6. #136

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    Technical analysis of EUR/AUD dated 30.11.2012

    EUR/AUD by creating the bottom price of 1.21590 and recording of it by the ascending candle in the next week has been started to ascend and right now it is in ascending trend too. As it is obvious in the picture below, the mentioned bottom price by reaching to the supportive level (resistance to supportive) prevents from more descend and finally the price ascends. According to the formed movements in weekly time frame, there is Wolfe Wave ascending pattern which the 5th point of this pattern is completed and is going toward the target line.Stoch indicator is in saturation sell area and warns the buy signal and also warns the possibility of increase of the price during the next candles according to the next cycle. In daily time frame of this currency pair, the price is closed by passing the descending trend line and breaking of it above the 5- day moving average and there is the possibility of more ascends. Right now there is no clear and obvious reason for descending of the price in the mentioned time frames and according to the formed signs; there is the possibility of ascending in this currency pair.

    FxGlory
    2012.11.30




  7. #137

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    Technical analysis of AUD/JPY dated 03.12.2012

    As it was mentioned in the previous analysis of this currency pair dated 5.10.2012, according to the formed signs in the price chart, there was the possibility of ascending of the price which finally happened. The price during its ascending trend could record the top price of 86.414. Right now the price by reaching to the descending trend line (primary) has been stopped and the formation of this top price forms the third point of descending trend line and warns about descending of the price. RSI indicator is in saturation buy area and warns the possibility of decrease of the price according to the next cycle.

    The price from 11.11.2012 has experienced the ascending trend without the reformation and by formation of the top price of 86.414 and other signs, generally there is the possibility of price reformation of previous ascends. As it is obvious in the picture below, the price under the middle line of Andrews’ Pitchfork pattern has formed the top price which this technical pattern warns the descending of the price and changing the price direction .Generally according to the formed signs in this currency pair, until the third point of descending trend line is preserved, the price has the potential for decrease and descend.



    FxGlory
    2012.12.03

  8. #138

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    Technical analysis of EUR/USD dated 06.12.2012

    EUR/USD during its ascending trend has recorded the top price of 1.31248. Right now this level is the nearest next resistance level of the price that by breaking of this level, there is the warning for more ascends. As it is obvious in the picture below, the price has been stopped from more ascend during its ascend from the bottom price of 1.26605 and reaching to the descending trend line. Right now there is a descending trend in the chart and the previous day daily candle had a long upper shadow in a descending trend which is the reason for the failure of the buyers in reaching to the upper price.The top price of 1.31248 is surrounded by the two descending trend line and the third point of both descending trend lines is formed and warns the descending of the price. Stoch indicator is in saturation buy area and also is in divergence mood with the price chart which makes its signal stronger. Generally until these third points of descending trend lines are preserved, the price has the potential for descending in this currency pair.



    FxGlory
    2012.12.06

  9. #139

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    Technical analysis of CHF/JPY dated 07.12.2012

    As it was mentioned in the previous analysis of this currency pair dated 29.10.2012. With the formation of Butterfly harmonic pattern and other signs, there was the possibility of the price descend which finally happened. The price has the ascending trend from the level of 83.247 and could record the top price of 89.373 that right now is the next nearest resistance level to the price. The price has been stopped by reaching to the resistance line of ascending channel and formed a top price on this line and according to the formation of the candlestick charts in this area shows the indecision market for continuing the movement. Right now the price is closed under 5- day moving average and there is a potential for a descending movement in this currency pair.

    As it is obvious in the picture below, the top price of 89.373 is formed under the Fibonacci resistance level of 78.6 which effect on the price like a resistance level. Generally according to the mentioned top price, there is the possibility of the price reformation and descend from this Fibonacci level. RSI indicator is in divergence mode with the price chart and made a top price in the same direction of the price chart and warns the possibility of descending of the price. Generally according to the formed signs until the top price of 89.737 is preserved, there is the potential for descending of the price in this currency pair.


    FxGlory
    2012.12.07

  10. #140

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    Gold Analysis

    Gold chart after touch the price 1754.34 on 26.11.2012 show bearish trend. Now in lowest price it can register as low as 1660.84 and now this the most important support level. Price while it’s bearish trend with touching 1672.85 and support line that drawn also , shapes a hammer candle in that region. There is a long down shadow indicates doubts in sellers to reach lower prices.This support line is proved with bullish candles occurred after hammer candle already. As shown in figure there is a Wolfe Wave pattern ,shaped by its 5th point that indicates probability to be bullish till it’s target (Green line). Stoch indicator also show saturating in sell zone and show some probability for bullish trend starting. Totally while price respects support line 1660.84 , bullish trend is more probable.


    FxGlory
    2012.12.19

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