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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #221

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    Technical analysis of USD/CAD dated 10.05.2013

    USD/CAD to the recent price rise, by reaching to the downtrend line specified in the picture below is disable to ascend more and by creating a top price below that started to decline and has fallen. The mentioned down trend line is one of the important resistance levels on long term price range. The sellers were successful in reaching to the lowest price of 1.00122. Price has been stopped from more descend during a downfall by reaching to the uptrend line (consisting of two bottom prices) and Fibonacci support level of 127.2 that shows exit of sellers and their use of these levels for their trades’ purposes . This price level is recorded as a bottom price by an uptrend candle and it prepares the field for the possible ascending of the price during the next days.

    According to the formed movements in the chart, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between top price of 1.03392 and the bottom price of 1.00122 that warns about the potential of ascending from the endpoint of this pattern. Stoch indicator in daily time frame is in saturation sell area and also it is in divergence mode with the price chart that confirms the created bottom price on the uptrend line and warns about the potential of changing price direction. Generally according to the mentioned signs, until the bottom price of 1.00122 is preserved, the price will have the potential for increasing.



    FxGlory
    2013.05.10

  2. #222

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    Technical analysis of USD/JPY dated 13.05.2013

    USD /JPY pair from the end of 2012 till now was in a strong and without reformation uptrend that shows buyers determination to achieve predetermined targets. Price during the recent uptrend was able to record the highest price of 102.135 which is possible to convert to a top price in 4H time frame. Some buyers at the end of the previous week tried to cash their trades by approaching to the round resistance level of 102.000 that caused the formation of Shooting Star candlestick pattern under this important resistance level. The mentioned pattern warns about the potential for formation of a top price and the failure of buyers in reaching to the higher prices that for the confirmation it needs closing of a descending candle.

    As it is obvious in the picture below,there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between the bottom price of 95.801 and the top price of 102.135 that warns changing price direction from D point. RSI indicator is in saturation buy area and confirms the harmonic D point and potential for descending of the price. One of the important warnings for descending of the price is formation of the candlestick pattern in daily time frame or closing of a descending candle which prepares the field for descending of the price.



    FxGlory
    2013.05.13

  3. #223

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    Technical analysis of EUR/CAD dated 14.05.2013

    EUR/CAD during the recent uptrend by reaching to the resistance range, obvious in the picture below, in 17.04.2013 after testing of the descending trend line has been fallen down. Sellers during this downtrend were successful in achieving the lowest level of 1.30647 that by passing of the price from this level, there is the potential for more descend and moving toward the important supportive level of 1.29456.right now the price during the downfall by reaching to the ascending trend line ( made of two bottom prices ) has been stooped from more descending and if the ascending candle closes at the end of today, the price level of 1.30647 will record as a bottom price that warns about changing price direction.

    As it is obvious in the chart below, Stoch indicator is in saturation sell area and also in divergence mode with the price chart that warns about changing price direction during the next candles and confirms the third point of this ascending trend line. The first warning for ascending of the price is breaking of the 1.31442 level and then by passing of the downtrend channel. According to the current situation until the ascending trend line is preserved, there is a potential for ascending of the price toward the descending trend line.


    FxGlory
    2013.05.14

  4. #224

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    Technical analysis of AUD/NZD dated 15.05.2013

    AUD/NZD has experienced a strong downtrend during the recent month that the sellers were successful in achieving the lowest price of 1.19493. price has been stopped from more descending by reaching to the supportive level made of two bottom prices and also the important round supportive level of 1.20000 ( sellers use this round level to exit their trades) and creating a bottom price. According to the formed movements in the chart, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between top price of 1.28260 and the bottom price of 1.19493 that warns about changing price direction from the D point of this pattern.

    RSI indicator in daily time frame is in saturation sell area and also it is in divergence mode with the price chart that warns the potential for ascending of the price during the next candles. In weekly time frame the previous week candle was closed as a Doji candlestick pattern that shows the indecision for ascending or descending. If this pattern confirms, there will be the potential for changing price direction. Also Stoch indicator in this time frame is in saturation sell area and warns the ascending of the price according to the next cycle. The first important warning for ascending of the price according to the technical signs is breaking of the resistance level 1.20855. Generally until the bottom price of 1.19493 is preserved, the price has the potential for increase and ascends.



    FxGlory
    2013.05.15

  5. #225

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    Technical analysis of CHF/JPY dated 16.05.2013

    CHF/JPY since 25.07.2012 till now had a consistent uptrend that by recent ascending this currency pair is in one of the highest price levels on its own history. Buyers were successful in achieving the highest level of 107.416 and this level is recorded as a top price by the recent descends. In long term intervals (in monthly time frame) price has been stopped from more ascend by reaching to the important resistance line (made of three peak prices) and by the buyers’ doubt and exit of their trades, the price consistency for ascending has been disappeared. As it is obvious in the picture below, there is a butterfly harmonic pattern between the bottom price of 97.440 and top price of 107.416 that warns the price downfall from the D point of this pattern and has been prevented from more increase till now.

    As it is obvious in the picture below, in 14th day by creating a peak price of 106.604 (the third point of descending trend line) there is a warning for descending of the price to the ascending trend line and if this resistance line breaks, it will consider a warning for sellers to start an uptrend again. In daily time frame Stoch indicator is in saturation buy area and according to the possible next cycle warns about the potential of descending in the next candles. Also it confirms the mentioned top price. The first warning for descending of the price in current condition is breaking of the supportive level of 105.279.


    FxGlory
    2013.05.16

  6. #226

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    Technical analysis of AUD/CAD dated 17.05.2013

    AUD/CAD since the middle of last month has experienced a strong downtrend with no significant reformation that right now sellers were successful in achieving the lowest price level of 0.99480 during this downfall. Currently this price level in 1H time frame has been established as a bottom price by a bullish candle. As it is obvious in the picture below, price is in downtrend channel in 1H time frame that by coming across the supportive edge of this channel, it has been stopped from more descending and has created a bottom price on it that warns about price reformation.

    RSI indicator in this time frame and in 4H time frame is in saturation sell area and in divergence mode with the price chart that warns about the potential of changing price direction and a price reformation. According to the recent downtrend, the price is in supportive range made of 4 bottom prices that warns about the potential of preventing of more descend. According to the issue that some sellers use the blue tape range to exit their trades (also because of the recent strong downtrend), there is the possibility for creating a bottom price and starting a small price reformation. Breaking the downtrend channel is one the warnings for changing price direction for sellers. Generally until the specified supportive range in daily time frame is preserved, the price will have the potential for reformation and ascending.



    FxGlory
    2013.05.17

  7. #227

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    Technical analysis of CAD /JPY dated 20.05.2013

    CAD /JPY pair from the middle of 2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 101.008. Price has been stopped from more ascend by reaching to the round resistance level of 101.00(the reason for some sellers to exit their trades) and by making a top price in daily time frame has started to reform. Right now the price level of 101.008 has recorded by the descending candles in daily time frame. According to the recent downtrend in the mentioned resistance level, there is a Hanging Man candlestick pattern in weekly time frame that warns about the potential of creating a top price and recessing of the buyers, also it confirms the round level of 101.00.

    As it is obvious in the picture below, according to the formed movements in the chart there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 between the bottom price of 68.500 and top price of 101.008 that warns about descending of the price by completion of the D point. Also in CD wave of the mentioned pattern, there is another harmonic pattern (butterfly) that warns about the potential of changing price direction from the green area. According to the recent uptrend RSI indicator is in saturation buy area and confirms the mentioned top price and warns about the potential of descending of the price during the next candles. Generally until the resistance level of 101.008 is not broken, price has the potential for descending and reformation in this currency pair.


    FxGlory
    2013.05.20

  8. #228

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    Technical analysis of Gold dated 21.05.2013

    Gold chart has been stopped from more ascending in late 2011 by reaching to the important psycho level (resistance) of 1900.00. Buyers by testing this psycho level have failed and eventually forced to retreat and abandon the market to the sellers. Right now price during the downfall from the mentioned top price till now has appeared as an ACD price reformation and has been stopped by coming across to the supportive edge of downtrend channel. During this downward and price reformation sellers were successful in achieving the lowest price of 1321.42 which is the next most important supportive level and if it breaks, the price finds the potential for descending to the supportive level of 1306.00.

    As it is obvious in the picture below,there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between top price of 1921.89 and the bottom price of 1321.42 that warns about changing price direction from the D point of this pattern. In daily time frame, price created a bottom price on Fibonacci level of 88.6 and Stoch indicator is in saturation sell area that according to the next cycle , it warns about ascending of the price from the mentioned Fibonacci level during the next candles . The first warning for ascending will be breaking of 1399.38 resistance level (the highest price changes in previous day). Generally according to the technical signs in the price chart until the mentioned supportive levels are preserved, the price has the potential to increase and ascend.



    FxGlory
    2013.05.21

  9. #229

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    Technical analysis of GBP/CHF dated 22.05.2013


    As it was mentioned in the previous analysis of this currency pair dated 09.05.2013, because of potential for increasing of the price in long term time frames, the formed descending signal in the chart does not have high validity that finally the price was able to ascend and pass the mentioned resistance obstacles. Buyers were successful in achieving the highest price of 1.48144 and by the recent downfall it was recorded as a peak price. By breaking this resistance level, price will have the potential to increase in long term intervals.According to the formed price movement, there is AB=CD harmonic pattern with Non-ideal ratios of 78.6 and 161.8 between the bottom price of 1.39665 and top price of 1.48144 that warns about decreasing of the price from the D point of this pattern.

    Stoch indicator in daily time frame is in divergence mode with the price chart that warns about the potential for descending of the price during the next candles and confirms the D point of harmonic pattern. As it was mentioned before , in long term intervals there is the potential for ascending and descending signals in daily time frames and lower ones is temporarily and unstable. Currently the first warning for descending of the price is breaking of the supportive level of 1.46082.



    FxGlory
    2013.05.22

  10. #230

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    Technical analysis of AUD/USD dated 23.05.2013

    AUD/USD since 11.04.2013 was in a strong and without reformation downtrend that shows the certainty of the sellers in achieving the predetermined goals. Sellers during this downtrend were successful in achieving the lowest price of 0.95928 that if it breaks, the price will find the potential in reaching to the other important supportive level of 0.95000. Price during the downfall by reaching to the supportive edge of downtrend channel also the supportive level of pivot 1 has been stopped from more descending and right now some of the sellers by reaching to these supportive levels started to cash their trades.

    In 1H and 4H time frame, according to the recent movement price, there is a hammer candlestick pattern that warns about formation of a bottom price in this area and ascending of the price. RSI indicator in both mentioned time frames is in saturation sell area and warns about the potential for increasing of the price and changing price direction by the next cycle. Generally according to the current condition and recent downtrend, until the supportive level of 0.95928 is preserved, price has the potential for ascending and reformation in this currency pair.


    FxGlory
    2013.05.23

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