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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #171

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    Technical analysis of USD/JPY dated 19.02.2013

    USD/JPY from 12.09.2012 (formation of ascending trend third point) is in a strong and without reformation ascending trend that could experience a good price growth. Right now this currency pair could record the top price of 94.446 during its ascending trend that according to the formation of recent candles, it is not an ideal top price for descending. In daily time frame the price has been stopped by touching the resistance level and the buyers could not reach to the higher prices.RSI indicator is in divergence mode with the price chart that warns the possibility of changing price direction. In weekly time frame Stoch indicator is in saturation buy area and warns the possibility of price reformation according to the next cycle. Closing of recent weekly descending candle or formation of one of the important candlestick patterns is a good reason for confirming the descending signal by Stoch indicator in weekly time frame. Generally according to the strong and without reformation ascending trend in this currency pair, the price has the potential for downfall until the top price of 94.446 is preserved.


    FxGlory
    2013.02.19

  2. #172

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    Technical analysis of GBP/USD dated 20.02.2013

    GBP/USD from 20.12.2012 began to descend by forming a top price. Due to the technical signs selling pressure of sellers is tangible and there is not a clear reason for reformation and ascending of the price in long term time frames. The price during the descending trend could record the bottom price of 1.54142 which is the nearest level to one of the supportive level in the chart. As it is obvious in the picture below, the price its descending trend could pass the long term ascending trend line which is made of 4 bottom prices and warns about descending of the price.Sellers in midterm outlook try to get the supportive level of 1.53900 and for the next stage, the important level of 1.53000 and these two supportive levels are the possible targets of price downfall. Stoch indicator in monthly time frame shows the possibility of descending of the price according to the next cycle.



    FxGlory
    2013.02.20

  3. #173

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    Technical analysis of NZD/USD dated 21.02.2013

    NZD/USD in daily time frame is in ascending trend and could record the top price of 0.85321. The price has faced a downfall after this top price and has reached to the ascending trend line which is made of 6 bottom prices and prevents from more decrease of price, and with formation of a bottom price provides a field for ascending. According to the daily and weekly time frame of this currency pair, sellers selling pressure is tangible and the price has a good potential for breaking of the ascending trend line. As it is obvious in the picture bellow, according to the formed signs, there is Bat harmonic pattern that completing the D point is a warning for ascend of price.

    Stoch indicator in 4H time frame is in saturation sell area and warns the possibility of ascending of the price according to the next cycles. According to the case that this signal is against the daily and weekly time frame, it does not have a high value. Generally until the formed bottom price on ascending trend line and D point of Bat harmonic pattern is preserved, there is the possibility of increase and ascend of price , and if the descending candle closes on the ascending trend line, there will be the potential for more descending of the price.



    FxGlory
    2013.02.21

  4. #174

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    Technical analysis of Silver date 26.02.2013

    As it was mentioned in the previous analysis of Silver on 2013.01.10, according to the formed signs, there was the bullish potential which finally happened .The price was able to touch lowest supportive level of 28.29 during its bearish trend and This price was recorded by the bullish candles on 22 & 25th day .As it shown in figure bellow ,Between the High price of 35.37 and the Low price of 28.29 there is Three Drives Pattern harmonic pattern with ideal ratios that by completing the third point ,bearing trend signal is invisible.RSI indicator is in saturation sell area follows the bottom price of 28.29 and warns the possibility of bullish trend during the next days.Formation of a candle with small body and a Spinning Top candlestick pattern(21th and 22th) shows the indecision of market for ascending or descending and warns the formation of a lowest price in this area.Right now the first important warning for more ascending of price in this pair happens by breaking out the 29.25 level in daily time frame .Generally until the low price of 28.29 is respected, the price has the potential for be bullish from the harmonic pattern.



    FxGlory
    2013.02.26

  5. #175

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    Technical analysis of USD/CAD dated 27.02.2013

    Since 14.01.2013 USDCAD had a strong Bullish trend with little reformation that shows the decision of buyers in reaching to the long term targets. This currency pair during its movement could touch the top price of 1.01318 .The price by reaching to the psychic level of 1.03000 could not pass it and retreated which the usage ability of this level can be seen in M15 time frame. According to the formed movement in the price chart , there is AB=CD harmonic pattern between the low price of 0.96320 and high price of 1.03018 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 high price.Stoch indicator in Daily time frame is in saturation Buy area and warns the possibility of stopping of the bullish trend by the next cycle. If the candle formed a bearish shape , there will be the high price of 1.03018 . With the formation of a Doji pattern, there is a warning for formation of a Top price and changing direction in the chart but closing of the bearish candle at the end of day is necessary for attention to this signal. Generally until the Level price of 1.03018 is preserved, the price has the potential for descending and reformation.


    FxGlory
    2013.02.27

  6. #176

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    Technical analysis of GBPUSD dated 01.03.2013

    GBPUSD during the recent weeks could descend without reformation and record the Bottom price of 1.50726.Right now the mentioned bottom price is recorded by the next ascending candle and is one of the most important supportive levels in front of price. As it is shown in the picture below, In the daily time frame, the descending trend of the price has been stopped when the price reached the blue supportive line and it formed the Fourth bottom price on this line. In 4H time frame , 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. Also in daily time frame of 24th, the Counterrettack line pattern was formed which shows the possibility for formation of a bottom price and price ascending.

    As it is obvious in the picture below, by breaking of the descending trend line (with SIX top prices) and converting of it to the supportive level in 1H time frame, there is a warning for ascending of the price.RSI indicator is in saturation sell area follows the bottom price of 1.50726 and warns the possibility of ascending during the next days.(In the Daily time frame). According to this point, this currency pair has experienced the strong descending trend in the past and also mentioned signs until this bottom price is preserved, there is the potential for price increase and reformation in this currency pair.




    FxGlory
    2013.03.01
    Last edited by FXGLORY(IB); 03-01-2013 at 09:15.

  7. #177

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    Technical analysis of NZD/USD dated 04.03.2013

    NZD/USD on 28.02.2013 during testing of a resistance level (made of 3 peak price) was not successful and finally descended. As it is obvious in the picture below, the price during its descend by Surmounting the supportive line (made of 2 bottom price) uses it as a resistance level and descends. Right now the price is under 5-day moving average and surmounts the supportive level of 0.82225 that shows the possibility of more descends in this currency pair. In weekly and monthly time frames, there is not a clear reason for ascending of the price and by the type of forming candles; there is the possibility of forming a top price.

    Stoch indicator in weekly and monthly time frames is in descending cycle and warns the possibility of more descend in long term time frame. One of the important warnings for more descend in this currency pair is breaking and closing the descending candles under the 0.81910 level( this price level is protected by two important harmonic patterns and there is the potential for ascending of the price in this range that normally the buyers try to increase the price in this level). Generally the first sign for ascending of the price is formation of a bottom price and recording of it in daily time frame.


    FxGlory
    2013.03.04

  8. #178

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    Technical analysis of AUD/USD dated 05.03.2013

    AUD/USD on 01.06.2012 by creating the ideal bottom price (formation of hammer candlestick pattern) has started to ascend and could record the top price of 1.06234. As it is obvious in the picture below, the price in this currency pair is fluctuating in supportive and resistance level range that generally these levels acted successfully for 6 times. Right now the price by a downfall from the red resistance level has recorded the bottom price of 1.01150. The mentioned bottom price by facing the supportive channel edge and the blue supportive level has been stopped from more downfalls and finally has been ascended and has been reached to the resistance descending channel edge.

    In daily time frame of previous day the ideal hammer candlestick pattern is seen that has long lower shadow and cause the failure of sellers in reaching to the lower price and possibility of formation of a bottom price in this range. By fixing of hammer candlestick pattern’s warning (closing of ascending candle at the end of the day) there is a possibility for ascending of price. According to the strong ascend of the price from the bottom price of 1.01150 to the resistance descending channel edge; there is the potential for price reformation in the chart. If the important blue supportive range breaks, the next important target for the sellers is the round level of 1.00000.


    FxGlory
    2013.03.05

  9. #179

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    Technical analysis of EUR/GBP dated 06.03.13

    EUR/GBP during the recent weeks had a strong ascending trend and could record the top price of 0.88132. Right now the mentioned top price is one of the most important and nearest resistance level in front of the price that by breaking of it, the price finds the potential to reach the important resistance level of 0.90000. The price during its ascending trend by reaching to the descending resistance channel edge has been stopped and has made a top price that according to the formed candles is fixed. As it is obvious in the picture below (in daily time frame), the mentioned top price is in 76.4 Fibonacci level that there is the possibility of price reformation according to Fibonacci levels’ properties. In weekly time frame, Stoch indicator is in saturation buy area and in descending cycle also warns the possibility of descending of the next candles.

    According to the type of previous week formed descending candles, there is a Dark cloud Cover candlestick pattern that warns stopping of ascending trend to the buyers. The first warning for descending in this currency pair is breaking of the supportive level of 0.85749. Generally until the resistance level of 0.88132 on resistance descending channel is preserved, the price has the potential for reformation and descends in this currency pair.



    FxGlory
    2013.03.06

  10. #180

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    Technical analysis of Gold dated 07.03.2013

    The price in Gold chart on 20.09.2013 is between two important supportive and resistance levels which were successful and prevented passing of price from their own price level. The price could record the bottom price of 1555.77 during its downfall and this bottom price is fixed by the next ascending candles and if this supportive level breaks, the price will have the potential for a downfall and reaching to the important supportive level of 1530.73. As it is obvious in the picture below, between the top price of 1754.26 and the bottom price of 1555.77 there is an ideal AB=CD harmonic pattern that from the D point of this pattern, there is a warning for ascending of price during the next days.Stoch indicator confirms the created bottom price in daily time frame and warns about ascending in the next candles according to the next cycle. According to the closing of previous candles in weekly time frame, there is a Inverted Hammer candlestick patterns that warns the possibility of price changing direction and formation of a bottom price in this price range. One of the warnings for ascending of the price is breaking of the resistance level in 30 minutes time frame. Generally until the bottom price of 1555.77 in daily time frame is preserved, there is the possibility of increase and ascend in Gold chart.


    FxGlory
    2013.03.07

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