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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #211

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    Technical analysis of CHF/JPY dated 25.04.2013

    CHF/JPY during the recent months and from the bottom price of 78.272 was in a strong and without reformation ascending trend that buyers could record the top price of 107.413. Price stopped by reaching to the important resistance level of 107.115 (related to the date 09.08.2011) and after trying to break this resistance level twice that was unsuccessful, the price created a top price under that level.

    Beside the mentioned resistance level, as it is obvious in the picture below the Fibonacci level of 2.00 is also one of the target prices of buyers during the ascending of price and when the price reaches to this level, by cashing the buyers’ trades the price has dropped. According to the formation types of price movements on the chart, there is a descending Butterfly harmonic pattern and by completion of the D point of this pattern, there will be a warning for descending and changing price direction. In Weekly time frame in the previous week, the weekly candle appeared as a Hanging Man candlestick pattern (to notice this candlestick pattern, there is a need to a descending candle as confirmation) that shows the possibility for formation of a top price and ending up the ascending of the price).

    RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for changing price direction. Generally according to the formed sign in the price chart until the top price of 107.413 is preserved, the price has the potential for descending in this currency pair.


    FxGlory
    2013.04.25

  2. #212

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    Technical analysis of GBP/CHF dated 26.04.2013

    As it was mentioned in the previous analysis of this currency pair dated 19.04.2013 according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. During this process, buyers were able to register the highest price of 1.46438 that is one of their target prices for ascending of the price. As it is shown in the picture below, right now the price by reaching to the resistance line of ascending channel has stopped and has created a top price on it which shows cashing of the buyers trades and exit of some of them from the buy trades.

    Between the bottom price of 1.39615 and top price of 1.46438, there is a descending AB=CD harmonic pattern, with the ratios of 78.6 and 127.2 that by completion of the ending point of this pattern, there is a warning for price reformation (Due to the rapid growth in CD wave and not completing of it, this pattern is not ideal).In the mentioned resistance level according to the formed movements, there is an ideal Shooting Star candlestick pattern that warns about formation of a top price and descending trend. RSI indicator is in saturation buy area in 4H time frame that confirms the top price of 1.46438 and warns about price reformation. In long term interval, there is the possibility for ascending of the price and the created top prices may be unstable.


    FxGlory
    2013.04.26

  3. #213

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    Technical analysis of CAD/JPY dated 29.04.2013

    CAD/JPY in recent weeks has been in a strong and consistent trend in the price movements which buyers have been successful in reaching to the highest price of 98.763. Currently the mentioned price level is fixed as a peak price, and it is the most important resistance level in front of the price. One of the buyers’ goals for their trades is Fibonacci level of 50 and the resistance edge of the uptrend channel that some buyers have used these levels to exit trades that eventually led to the formation of a peak price on the resistance edge of the uptrend channel.

    In weekly time frame RSI indicator is in saturation sell area according to the recent ascending and also according to the formed movements in the price chart, it is in divergence mode with it that warns the potential of changing price direction. In top price of 98.763, there are 3 Shooting Star,Hanging Man, and Engulfing candlestick patterns that All point to the possibility of formation of a top price and the potential for changing price direction. In case of descending, one of the target prices will be 94.491 level. The first important warning to start a price reformation is breaking of the supportive level of 95.798. Generally, according to the signs in the price chart, until the top price of 98.763 is preserved, the price will have the potential for reformation in this currency pair.




    FxGlory
    2013.04.29

  4. #214

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    Technical analysis of USD/CHF 02.05.2013

    USD/CHF on 24.04.2013 by reaching to the descending trend line has been stopped from more ascend and finally by creating a top price descended. Sellers during the recent descending were successful in reaching to the bottom price of0.92465. As it is obvious in the picture below, the sellers were not able to descend more by reaching to the ascending trend line (a place to cash their trades) that cause formation of the third point on ascending trend line and now this bottom price is fixed by ascending trend candles. RSI indicator in 4H time frame is in saturation sell area that confirms the third point of ascending trend line ( also in 1H time frame it is in divergence mode with the price chart) and warns the potential for ascending of the price.

    One of the current target prices is the resistance level of 0.93116 and by breaking of it; there will be more potential for ascending in this currency pair (moving toward the descending trend line). Until the third point of ascending trend line is preserved, there will be the potential for ascending of the price. In daily time frame of this currency pair, price is under 5-day moving average and there is not any clear reason for ascending of the price. If the bottom price of 0.92465 succumbs, the price will find the potential for reaching to the next supportive level of 0.92055.



    FxGlory
    2013.05.02

  5. #215

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    Technical analysis of GBP/NZD 03.05.2013

    GBP/ NZD form 2000 till now was in a strong and coherent descending trend that sellers strictly followed their descending price targets. Price during the recent downtrend was able to record the bottom price of 1.76933 and it is fixed by the ascending candles. The mentioned bottom price is the lowest price in the history of this currency pair and generally the price is in a saturation sell area. In monthly time frame of this currency pair, there is a hammer candle stick pattern that warns about the potential for formation of a bottom price and ascending of the price for buyers. According to the formed movements in the price chart, between the top price of 2.25137 and the bottom price of 1.76933 there is an AB=CD harmonic pattern with ratios of 61.8 and 127.2 that by completing the ending point of this pattern, there will be a warning for ascending trend.

    As it is obvious in the picture below, the price reacts by coming across the supportive line and prepared a field for price reformation by creating the bottom price of 1.76933. RSI indicator in weekly time frame is in saturation sell area (also in divergence mode with the price chart) that confirms the mentioned bottom price by the next cycle and warns about the potential of changing price direction. Breaking the resistance level of 1.83843 is a good warning for ascending of the price. Generally according to the formed signs in this price chart, until the bottom price of 1.76933 is preserved, there will be the potential for ascending and price reformation in this currency pair.


    FxGlory
    2013.05.03

  6. #216

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    Technical analysis of USD/CHF dated 06.05.2013

    As it was mentioned in the previous analysis of this currency pair dated 02.05.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened. Price has been stopped from more ascending during this ascend by approaching to the resistance Fibonacci level of 61.8 (where the buyers’ trades will cash) and by forming a top price under it , was finally forced to descend. The price by a little descending went toward the ascending trend line and by creating a bottom price prepared the field for another ascending. Right now in daily time frame, price is above 5-day moving average and is ascending and going toward the resistance line.

    Stoch indicator in daily and weekly time frames confirms the bottom price of 0.92465 and according to the next cycle warns about the potential of ascending during the next candles. If the price ascends, the buyers’ targets will be resistance level of 0.93980 and in the next step the descending trend line. Breaking the important supportive level of 0.93000 is an important warning for the failure of the buyers in reaching to their target prices and continuing the ascending trend.

    FxGlory
    2013.05.06

  7. #217

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    Technical analysis of GBP/JPY dated 07.05.2013

    GBP/JPY from the middle of 2012 till now was in a strong ascending trend and it was in saturation sell area (in long term intervals). Right now the buyers during the recent ascending trend were successful in reaching to the highest price of 154.739 and this mentioned resistance level is the most important resistance level in front of the price that by closing of daily candle as a descending candle the price level of 154.739 will be recorded as a peak price. As it is obvious in the picture below, the price has been stopped from more descending by reaching to the supportive level of 153.790 ( alterant level from resistant to support) and by creating a bottom price in this saturation area starts to ascend which shows the potential for ascending in this currency pair.

    According to the formed movements in the price chart, between the bottom price of 137.836 and the top price of 154.739 there is an ideal butterfly harmonic pattern that by completion of the D point, there will be the possibility for changing price direction in this currency pair. RSI indicator is in divergence mode with the price chart (if the price level of 154.739 confirms as a peak price) and warns about the potential for price reformation and changing price direction. The first sign for starting a reformation movement and descending of the price is breaking the alterantlevel of 153.790. Generally until the price level of 154.739 is preserved, the price has the potential for descending and price reformation in this currency pair.


    FxGlory
    2013.05.07

  8. #218

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    Technical analysis of AUD/USD dated 08.05.2013

    As it was mentioned in the previous analysis of this currency pair dated 01.05.2013, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. Sellers could reach to the lowest price of 1.01529 which is recorded as a bottom price and warns the potential for ascending of the price. During this price downfall, the price has been stopped from more descending by reaching to the area of important supportive levels made of 3 bottom prices date back to 2012.

    According to the formed movements in 4H time frame, between the top price of 1.03840 and bottom price of 1.03840 there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that by completion of the D point in this pattern, there is warning for ascending of the price. Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the D point of this pattern and warns about the potential of ascending during the next candles( because of not being in the same direction with long term time frame it is not much valid).

    In daily time frame, the price by making a peak price under a descending trend line starts to fall and right now it is under 5-day moving average. It also warns about the potential for descending of the price, so the ascending signals are less in 4H time frame and if the mentioned supportive level breaks, the field for more descend in this currency pair will be prepared. Until the supportive range is preserved, the price will have the potential for ascending.



    FxGlory
    2013.05.08

  9. #219

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    Technical analysis of AUD/USD dated 08.05.2013

    As it was mentioned in the previous analysis of this currency pair dated 01.05.2013, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. Sellers could reach to the lowest price of 1.01529 which is recorded as a bottom price and warns the potential for ascending of the price. During this price downfall, the price has been stopped from more descending by reaching to the area of important supportive levels made of 3 bottom prices date back to 2012.

    According to the formed movements in 4H time frame, between the top price of 1.03840 and bottom price of 1.03840 there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that by completion of the D point in this pattern, there is warning for ascending of the price. Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the D point of this pattern and warns about the potential of ascending during the next candles( because of not being in the same direction with long term time frame it is not much valid).

    In daily time frame, the price by making a peak price under a descending trend line starts to fall and right now it is under 5-day moving average. It also warns about the potential for descending of the price, so the ascending signals are less in 4H time frame and if the mentioned supportive level breaks, the field for more descend in this currency pair will be prepared. Until the supportive range is preserved, the price will have the potential for ascending.



    FxGlory
    2013.05.08

  10. #220

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    Technical analysis of GBP/CHF dated 09.05.2013

    As it was mentioned in the previous analysis of this currency pair dated 19.04.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened.Buyers could reach to the highest price of 1.46562 which is recorded as a peak price. As it is obvious in the picture below, price has been stopped by reaching to the descending trend line made of 4 peak prices and also resistance edge of uptrend channel and by creating a top price it has descended.

    According to the formed movements in daily chart of this currency pair, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between bottom price of 1.39621 and the top price of 1.46562 that by completion of the D point in this pattern, there is warning for descending of the price and changing price direction. Right now the first warning for descending of the price (in the same direction with harmonic pattern’s signal) is breaking of the supportive level of 1.45073.
    According to this point in long term interval, there is a potential for ascending of the price in this currency pair. Sell signals in midterm time frames are temporary and risky. By breaking of the descending trend line and technical AB=CD pattern, there is a warning for more ascend in this currency pair.




    FxGlory
    2013.05.09

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