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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #201

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    Technical analysis of CAD/JPY dated 10.04.2013

    CAD/JPY from the bottom price of 91.166 was in a strong ascending trend without reformation that could record the top price of 97.983. According the general ascending trend and not observing a clear technical reason for descending of price in long term time frames, if the price level of 97.983 breaks, the price will have the potential of reaching to the resistance range in this currency pair.To review trades with some buyers, the price has been stopped from more ascend which is shown by forming of the candles with small body (also candlestick pattern shows formation of a top price).

    As it is obvious in the picture below, between the bottom price of 88.507 and the top price of 97.983 there is AB=CD harmonic pattern with the ratios of 50 to 200 that by completing the end point of this pattern, there will be a warning for forming of a top price.RSI indicator is in saturation buy area and that shows the possibility of having a top price and then a downfall. The first important warning for starting a reformation in ascending trend and falling of the price is breaking of the supportive level of 96.960 (the lowest changing price level on the previous day).



    FxGlory
    2013.04.10

  2. #202

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    Technical analysis of NZD/USD dated 15.04.2013

    NZD/USD during the last week has experienced an ascending trend that could record the top price of 0.86754. As it is obvious in the picture below, the price is in an ascending trend and fluctuating in an ascending channel. The price during the ascending trend by reaching to the resistance line of ascending channel and also the Fibonacci level of 127.2 has been stopped from more ascend and started to reform the ascending trend.

    Between the bottom price of 0.80492 and the top price of 0.86754, there is an AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that warns about changing price direction. According to the formed movements in the chart, Stoch indicator is in saturation buy area and confirms the top price of 0.86754 by the next cycle and warns the possibility of descending of the price during the next days. In long term time frames such as weekly and monthly time frame, the price is above 5-day moving average and there is not any clear reason for descending of the price. If the price level of 0.86754, the price find the potential of reaching to highest historical level of 0.88422 this currency pair.


    FxGlory
    2013.04.15

  3. #203

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    Technical analysis of USD/JPY dated 16.04.2013

    As it was mentioned in the previous analysis of this currency pair dated 09.04.2013, according to the formed signs in the price chart, there was the potential for descending of the price that finally happened. The price during the downfall could record the bottom price of 95.806.right now in 4H time frame the mentioned price level is fixed by an ascending candle and act as a bottom price.According to descending of the price in last week, the previous week candle has appeared as a Shooting Star candlestick pattern that shows the buyers failure in reaching to the upper prices and vulnerability of ascending trend that will be fixed by closing of the descending candle at the end of this week. As it is obvious in weekly time frame, according to the formed price movements, there is an ideal Three Drives Pattern harmonic pattern that warns about changing price direction.

    RSI indicator is in saturation buy area and it is in divergence mode with the price and confirms the Shooting Star candlestick pattern. The first warning for starting of a descending trend and decrease of price is breaking of the supportive level of 95.806. Generally according to the formed signs in the price chart until the resistance level of 100.000 is preserved, the price has the potential for reformation and descending in this currency pair.




    FxGlory
    2013.04.16

  4. #204

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    Technical analysis of Gold dated 17.04.2013

    Gold price has experienced a severe descending trend and could record the bottom price of 1320.30. This bottom price is fixed by the ascending candles in 4H time frame and is the most important supportive level in front of the price. As it is obvious in the picture below, the price has been stopped and formed a bottom price by reaching to the supportive edge of descending channel during the descending trend.Closing of descending candle of Spinning top pattern type in previous day shows indecision market for ascending or descending and the buyers doubt in reaching to the lower prices.
    Also the combination of this pattern with the big descending candle on 15th day will create the Harami candle stick pattern that warns about formation of a bottom price and finally ascending of the price.

    Between the top price of 1920.31 and the bottom price of 1320.30, there is AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that from the D point of this pattern, there is the potential for ascending and price reformation.RSI indicator is in saturation sell area in daily time frame and also confirms the D point of harmonic pattern by the next cycle and warns about the possibility of changing price direction. Generally until the price level of 1320.30 is preserved, the price has the potential for reforming of the descending trend.



    FxGlory
    2013.04.17

  5. #205

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    Technical analysis of GBP/USD dated 18.04.2013

    As it was mentioned in the previous analysis of this currency pair dated 08.04.2013, according to the formed signs in the price chart, there was the potential for descending and reformation of the price that finally happened. As it is obvious in the picture below, the price is fluctuating in ascending channel and right now an ascending trend line prevent from more descending of the price. Price has been stopped during the recent descending and could record the bottom price of 1.52143 on supportive trend line which is shown in the picture below.

    Right now this bottom price is fixed by an ascending candle and there is hammer candlestick pattern in this bottom price that shows the possibility of formation of a bottom price and then ascending of the price. According to the formed signs in the price chart between the top price of 1.54091 and the bottom price of 1.52143 there is an AB=CD harmonic pattern with the ideal ratios of 78.6 and 127.2 that from the D point of this pattern there will be a warning for changing price direction.

    RSE indicator is in saturation sell area and warns about the possibility of ascending of the price according to the next cycle. Generally according to the formed signs, price is able to ascend from the mentioned bottom price and if the sellers succeed in breaking this supportive level, the price will have the potential to descend and reach to another supportive trend line.



    FxGlory
    2013.04.18

  6. #206

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    Technical analysis of GBP/USD dated 18.04.2013

    As it was mentioned in the previous analysis of this currency pair dated 08.04.2013, according to the formed signs in the price chart, there was the potential for descending and reformation of the price that finally happened. As it is obvious in the picture below, the price is fluctuating in ascending channel and right now an ascending trend line prevent from more descending of the price. Price has been stopped during the recent descending and could record the bottom price of 1.52143 on supportive trend line which is shown in the picture below.

    Right now this bottom price is fixed by an ascending candle and there is hammer candlestick pattern in this bottom price that shows the possibility of formation of a bottom price and then ascending of the price. According to the formed signs in the price chart between the top price of 1.54091 and the bottom price of 1.52143 there is an AB=CD harmonic pattern with the ideal ratios of 78.6 and 127.2 that from the D point of this pattern there will be a warning for changing price direction.

    RSE indicator is in saturation sell area and warns about the possibility of ascending of the price according to the next cycle. Generally according to the formed signs, price is able to ascend from the mentioned bottom price and if the sellers succeed in breaking this supportive level, the price will have the potential to descend and reach to another supportive trend line.



    FxGlory
    2013.04.18

  7. #207

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    Technical analysis of GBP/CHF dated 19.04.2013

    As it is obvious in the below price chart, GBP/CHF from the top price of 1.44686 has descended and sellers could record the bottom price of 1.40727 that this supportive level is fixed in daily time frame ( by ascending candles) and acts as a bottom price. Price by reaching to the ascending trend line (made of 2 bottom price) was not able to descend and break it in daily time frame and by creating the hammer candlestick pattern on this line shows recessing of sellers in reaching to the lower price and also the supportive level of 1.40727.

    According to the below picture, price by making the third bottom price of ascending trend line has started to ascend and is above 5-day moving average that warns about ascending of price during the next candles. Stoch indicator is in saturation sell area and in divergence mode with the price chart that warns about changing price direction. Right now the price by reaching to the red descending trend line has stopped from more ascend and generally by breaking this resistance line, first signal for increasing and more ascends of price will be issued.



    FxGlory
    2013.04.19

  8. #208

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    Technical analysis of Silver dated 22.04.2013

    Silver chart has experienced a strong descending trend during the recent week that could record the bottom price of 22.02. One of the sellersí targets was the round level of 22.00 that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price. According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation.

    According to the formed movements in the price chart, between the top price of 37.47 and the bottom price of 22.02 there is an ideal AB=CD harmonic pattern with the ratios of 78.6 and 127.2 that warns about changing price direction and price reformation. RSI indicator is in saturation sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days. Generally until the price level of 22.00 is preserved, the price has the potential for ascending and reformation.


    FxGlory
    2013.04.22

  9. #209

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    Technical analysis of AUD/NZD dated 23.04.2013

    As it is obvious in the picture below, price in AUD/NZD currency pair from the end of 2011till now was in a descending channel that Sellers have the price close to the supportive levelsí range of 2009 and 2010. Right now price is closed under 5-day moving average in long term time frames and could record the bottom price of 1.21575 in recent days. If the supportive level of 1.21334 breaks, the price finds the potential for descending up to the round level of 1.20000. Price during descending from the resistance edge of descending channel (top price of 1.26778) has stopped from more descend by reaching to the supportive range and it is fluctuating in green range.RSI indicator is in saturation sell area in daily time frame and according to the next cycle confirms the mentioned bottom price and warns about ascending during the next candles. By breaking the short term descending channel, there is first technical signal for starting the price reformation and ascending trend. Generally if the short term descending channel breaks, until the price level of 1.21575 is preserved, price has the potential for reformation and ascending from the supportive edge of descending channel.



    FxGlory
    2013.04.23

  10. #210

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    Technical analysis of GBP/AUD dated 24.04.2013

    As it was mentioned in the previous analysis of this currency pair dated 01.04.2013, according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. Right now the price is in the lowest prices in the recorded history and generally in long term interval according to the bottom price of 1.43759 and other factors, it has a good potential for ascending. Price could record the top price of 1.49373 during this ascending trend and stopped (In 4H time frame with the formation of AB=CD harmonic pattern and completing its D point, the price stopped from more ascends).

    AB=CD harmonic pattern in weekly time frame of this currency pair is active yet and effects on the price. Price in weekly and daily time frame is above 5-day moving average and warns about the increasing of the price according to the ascending potential in this currency pair. Currently price at daily time frame has formed Shooting Star candlestick pattern (To notice this candlestick pattern, there is a need to closure of a descending candle) that shows the first warning signals for the formation of a top price. Stoch indicator is in saturation buy area in daily time frame and also confirms the candlestick pattern according to the next cycle and warns about price reformation (due to not being in the same direction with weekly time frame, it is not so valid). By breaking this resistance peak of 1.49373, there will be a signal for more ascends in this currency pair.




    FxGlory
    2013.04.24

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