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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #181

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    Technical analysis of EUR/JPY dated 08.03.2013

    EUR/JPY from the price level of 94.123 was in an ascending trend and could ascend without price reformation during this trend that shows the certainty of buyers in reaching to the pre-determined target price (this was mentioned in technical analysis of 16.08.2012). Right now the price descends from the top price of 127.661 and has recorded the bottom price of 118.735 that it can be a possibility for ascending of the price. The price in weekly, daily, 4H and 1H time frame is above 5-day moving average that shows an ascending trend and increase of price.According to the point that in long term time frames such as weekly and daily there is not a clear reason for descending of price, the possibility of ascending in this currency pair is tangible, so the next target of buyers is the resistance level of 127.661. at least formation of a top price and fixing of it in daily or 4H is necessary for continuing this descending trend.



    FxGlory
    2013.03.08

  2. #182

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    Technical analysis of USD/ CHF dated 11.03.2013


    As it was mentioned in the previous analysis of this currency pair dated 04.02.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened. The price could record the top price of 0.95523 that is fixed in 4H time frame. The price by reaching to the mentioned resistance level (dating back to 13.11.2013) has been stopped that was a midterm target price for the buyers. In long term time frames such as weekly and daily time frames there is no clear reason for descending of the price and the price is above 5-day moving average which warns more ascend in long term intervals.The firs signal for continuing the ascending trend is breaking of resistance level of 0.95523. According to the formed candles in 4H, the buyers have retreated. Right now in 4H time frame the price is in divergence mode with RSI indicator and confirms the top price of 0.95523 in a descending trend. Generally until the mentioned top price in 4H time frame is preserved, the price has the potential for reformation.



    FxGlory
    2013.03.11

  3. #183

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    Technical analysis of AUD/JPY dated 12.03.2013

    AUD/JPY had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 99.546 in 4H time frame which is fixed by descending candle. The price by reaching to the resistance ascending channel edge has been stopped from more ascend and by forming a Shooting Star candlestick patterns( possibility of formation of a top price and changing price direction)and fixing of it by a descending candle has prepared the field for creating a top price and a descending trend.In daily time frame the price by reaching to the resistance level made of 3 top prices has been stopped and by closing of descending daily candle, there is a warning for stopping of ascending trend and buyers trades. As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction. Generally until the mentioned top price on the resistance channel edge is preserved, the price has the potential for reformation and descending in this currency pair.


    FxGlory
    2013.03.12

  4. #184

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    Technical analysis of GBP/USD dated 13.03.2013

    GBP/USD had a strong and without reformation descending trend during the recent weeks and could record the bottom price of 1.48306. As it is obvious in the picture below, the price has been stopped by reaching to the supportive line which is made of 4 bottom prices and has recorded the bottom price of 1.48306 on this line and it is fixed by the next ascending candles. According to the strong downfall of price from the top price of 1.63775, it seems that the price is saturation sell area and there is the possibility of price reformation. In daily time frame with the types of price movements in previous day, hammer candle stick pattern has appeared that warns the formation of a bottom price and the failure of sellers in reaching to the lower prices.The first warning in midterm interval for stopping the descending trend and starting the ascending trend is breaking of the descending red trend line in 4H time frame. Generally according to the recent strong descending trend until the bottom price of 1.48306 is preserved, there is the potential for price reformation in this currency pair.


    FxGlory
    2013.03.13

  5. #185

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    Technical analysis of AUD/USD dated 14.03.2013

    As it was mentioned in the previous analysis of this currency pair dated 05.03.2013, according to the formed signs in this price chart, there was the possibility for ascending of price which finally happened. The price could record the top price of 1.03814 during the recent increase. As it is obvious in the picture below, the price by reaching to the resistance range that is made of 3 top prices has stopped from more ascend and has formed a top price in this range. According to the formed movements in the chart, between the bottom price of 1.01143 and the top price of 1.03814, there us AB=CD harmonic pattern with the ratios of 50 to 161.8 that warns the price descends from the D point of this pattern.

    Breaking the D point shows the certainty of the buyers in reaching to the predetermined targets in this currency pair. RSI indicator with the recent ascend is in saturation buy area and shows the possibility of stopping the price in midterm interval but because it is not in the same direction with daily time frame, this signal is not much reliable. Generally according to the formed signs until the D point of this pattern is preserved, the price has the potential for descend in this currency and if the resistance level of 1.03814 breaks, the previous analysis of this currency pair will be reliable.


    FxGlory
    2013.03.14

  6. #186

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    Technical analysis of USD/ CHF dated 15.03.2013

    In the previous technical analysis of this currency pair dated 11.03.2013, according to the formed technical signs, there was the potential for price reformation which finally happened (as it was mentioned there was no clear reason for descending in weekly and daily time frames).the buyers could record the top price of 0.95644 that the price by reaching to this price level is in descending trend range also a resistance level and lose its ability for ascending. Right now with the recent downfall, the 0.95644 top price is fixed and it is under 5-day moving average in 4H time frame that shows the descending of price.

    RSI indicator is in saturation buy area and warns the potential for formation of a top price and descending of price according to the next cycle. For the technical analysts, breaking of the ascending channel is an important warning for changing trend direction. Generally until the third point of descending trend line is preserved, the price has the potential for descend and reformation in this currency pair.


    FxGlory
    2013.03.15

  7. #187

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    Technical analysis of USD/JPY dated 18.03.2012

    USD/JPY in recent weeks has a strong ascending trend that shows the serious buyers in reaching to their target prices. The price during this ascending trend could record the top price of 96.688 that is the most important resistance level in front of price. As it is obvious in the picture below, the price has been stopped by reaching to the long term descending trend and is not able to ascend more which is a warning for buyers about changing price direction. According to the recent descend, the price closed under 5-day moving average and warns the potential for more descending.The price in the resistance edge of two Fibonacci levels of 261.8 and 161.8 has formed a top price that is this top price there is an important and ideal Evening star candlestick pattern with 4 stars which is an important warning for the formation of a top price and continuing the descending trend. According to the formed movements in daily time frame, right now the price and RSI indicator are in divergence mode and there is the potential for changing price direction. Generally until the mentioned top price is preserved, the price has the potential for descending and reformation in this currency pair.




    FxGlory
    2013.03.18

  8. #188

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    Technical analysis of AUD/ NZD dated 19.03.2013

    AUD/ NZD from the bottom price of 1.21378 had a strong ascending trend and could record the top price of 1.26733 during this ascend. As it is obvious in the picture below, the price by reaching to the descending trend line which is made of 4 top prices is not able to ascend more and has been stopped. By closing of the descending candle on 15th day in daily time frame, the price level of 1.26773 is fixed as a top price. Stoch indicator in daily time frame is in saturation buy area and according to the next cycle confirms the mentioned top price but because of not being in the same direction with other long term time frames is not reliable.In weekly and monthly time frames of this currency pair there is not a clear reason for descending of price and there is a potential for ascending in long term interval. The first sign for starting the descending trend and price reformation is, breaking of the supportive level of 1.25551 in this currency pair. Generally until the mentioned top price on descending trend line is preserved, the price has the potential for descending and downfall.


    FxGlory
    2013.03.19

  9. #189

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    Technical analysis of EURCAD dated 22.03.2013

    EUR/CAD during its ascending trend and reaching to the resistance line of ascending channel has been stopped and by recording a top price has prepared a field for price reformation and a downfall. Right now as it is obvious in the daily time frame , the price during the downfall from the mentioned top price and reaching to the supportive edge of ascending channel ( made of 3 bottom prices) has stopped and has recorded the bottom price of 1.31715. In weekly time frames of this currency pair there is not a clear reason for ascending of the price and the first warning for ascending of the price in long term interval is creating a bottom price in weekly time frame. The most important supportive level in front of price for preventing more downfalls is the ascending trend line and also the alterant level which is shown in the picture below.

    According to this point( until the bottom price of 1.31715 is preserved ) in daily time frame of this currency pair , the 4th point on ascending trend line has formed and if the resistance level of 1.33014 breaks, there will be the possibility of ascending and increase of price in ascending channel.


    FxGlory
    2013.03.22

  10. #190

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    Technical analysis of GBP/USD dated 25.03.2013

    As it was mentioned in the previous analysis of this currency pair dated 13.03.2013 according to the formed signs in this price chart, there was the possibility of ascending of price which finally happened. Right now in daily time frame the price is closed above 5-day moving average and could record the top price of 1.52590. Also in weekly time frame the previous week candle was above 5-day moving average and Stoch indicator is in ascending cycle and warns the possibility of ascending of the price during the next weeks. As it is obvious in the picture below , the price has been stopped by reaching to the descending trend line ( made of 2 peak prices) during the ascending trend and has recorded the top price of 1.52590 that warns descending and reformation of the price during the next candles.

    Right now according to the formed movements in the chart, there is an important Inverted head and shoulders pattern that warns changing price direction from descending to ascending trend. According to the point that in this pattern usually there is a short reverse to the Neck line; one of the possible targets of a downfall from the top price of 1.52590 can be the Neck line of this pattern. The first warning for starting and continuing the ascending trend is breaking of the descending trend line in this currency pair.




    FxGlory
    2013.03.25

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