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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #231

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    Technical analysis of EUR/JPY dated 24.05.2013

    EUR /JPY pair since 26.07.2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 133.753. As it was mentioned in one of the last year analysis of this currency pair dated 16.08.2012, according to the formed signs, there was the potential for ascending of the price in long term intervals which finally happened.Price during the uptrend by reaching to the important resistance level of number 1 monthly pivot and touching the Fibonacci resistance level of 50( from the top price of 169.860 to bottom price of 94.006) has been stopped from more ascends by creating a top price. In mentioned peak price (in daily time frame) there are two Shooting Star and Hanging Man candlestick pattern that warns about formation of a top price and descending of the price during the next days.

    According to the formed price movement, there is butterfly harmonic pattern between the bottom price of 118.609 and top price of 133.753 that warns about changing price direction from the D point of this pattern.RSI indication in daily and weekly time frame is in saturation buy area and in divergence mode with the price chart that confirms the harmonic pattern and warns about changing price direction. Currently by breaking the supportive level of 129.933, there will be an important warning for descending of the price. Generally until the top price of 133.753 is preserved, there is a potential for descending and price reformation in this currency pair.


    FxGlory
    2013.05.24

  2. #232

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    Technical analysis of silver dated 27.05.2013

    Silver chart since the middle of 2011 till now was in a downtrend accompanied with price reformation that sellers were successful in achieving the lowest price of 20.19. By formation of hammer candlestick pattern on 20th day in daily time frame, there is a warning for the first failure of sellers in achieving lower prices and formation of a bottom price for increasing of the price in this area. After formation of the mentioned candlestick pattern, price is range which shows indecision market for ascending or descending. Right now the bottom price of 20.19 is recorded that there is a possibility for ascending of the price.

    According to the formed movements in price chart, there is Crab harmonic pattern between the top price of 35.35 and the bottom price of 20.19 that warns about ascending of price from D point. RSI indicator in daily and weekly time frame is in saturation sell area ( also in divergence mode with the price chart in daily time frame ) and by the next cycle it confirms the harmonic D point and warns about the potential for ascending of price during the next candles in both time frame. If price rises and buyers success one of the price targets would be alterant level of 26.00. Generally according to the formed signs in price chart until the bottom price of 20.19 is preserved, price will have the potential for ascending and reformation.



    FxGlory
    2013.05.27

  3. #233

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    Technical analysis of AUD/USD dated 28.05.2013

    AUD/USD since 11.04.2013 till now was in a strong downtrend without a noticeable price reformation that sellers were successful in achieving the lowest price of 0.95909. Right now price has been stopped by reaching to the round level of 0.96000 and supportive levels’ range (made of 5 bottom prices dated back to 2010) and by making a bottom price had a little ascend. The bottom price of 0.95909 is recorded in 4H time frame , also in daily time frame it appeared by creating a Spinning top candlestick pattern which shows indecision market for ascending or descending and warns about the potential to stop declining of the price.

    Stoch indicator in 4H time frame is in saturation sell area and also in divergence mode with the price chart which confirms the bottom price of 0.95920 and warns about changing price direction. The first warning for ascending and price reformation is breaking the descending trend line (made of 3 peak prices). Generally according t the formed signs in the price chart until the supportive level of 0.95909 is preserved , price has the potential for reformation in this currency pair.



    FxGlory
    2013.05.28

  4. #234

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    Technical analysis of USD/CAD dated 29.05.2013

    As it was mentioned in previous analysis of this currency pair dated 10.05.2013, according to the formed signs in the price chary, there was a potential for ascending which finally happened. Buyers were able to achieve the highest price of 1.04202 during this uptrend. Right now price by reaching the resistance line of monthly pivot one and also by creating a peak price in 4H time frame has been stopped from more ascend. By forming a Engulfing candlestick pattern in mentioned top price, there is a potential for creating a top price and ten descending.


    As it is obvious in the picture below, between the bottom price of 1.02146 and top price of 1.04202, there is an AB=CD harmonic pattern with non-ideal ratios of 61.8 and 127.2 which warns about descending of the price from the D point of this pattern. RSI indicator is in saturation buy area and in divergence mode with the price chart warns about changing price direction during the next candles. As it was mentioned in previous analysis of this currency pair, according to the potential for ascending in long term intervals, the signals in time frames like 4H time frames are short and unstable. Currently until the mentioned top price is preserved, price has the potential for descending and if the resistance level of 1.04202 breaks, price will have the potential for ascending and reaching to the important resistance level of 1.04456.



    FxGlory
    2013.05.29

  5. #235

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    Technical analysis of USD/JPY dated 30.05.2013

    USD/JPY since 23.09.2012 till now was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 103.675. As it is obvious in the picture below, price has been stopped from more ascending by reaching to the resistance line of ( alterant level) made of two bottom prices and also Fibonacci resistance level of 38.2 and by closing the weakly candle as descending candle, the peak price of 103.675 has been recorded. Right now price in daily time frame and 4H time frame is closed under 5-day moving average and warns about descending of the price during the next candles.

    According to the strong and consistent uptrend, Stoch indicator is in saturation buy area and in divergence mode with the price chart that confirms the created top price and warns about the potential of changing price direction. Currently breaking the supportive level of 100.657 is the first warning for descending of the price. Generally according to the technical signs in the price chart, until the top price of 103.675 is preserved; there is the potential for descending and price reformation in this currency pair.



    FxGlory
    2013.05.30

  6. #236

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    Technical analysis of AUD/NZD dated 31.05.2013

    As it was mentioned in previous technical analysis of this currency pair dated 15.05.2013 with breaking of the resistance level of 1.20885, there was the first warning for ascending of the price that finally because of the sell pressure, price was not successful in breaking the mentioned resistance level. Sellers during the recent descending trend were able to achieve the lowest price of 1.18139 which is the most important supportive level before the price. As it is obvious in the picture below between the top price of 1.28254 and bottom price of 1.18139, there is AB=CD harmonic pattern with the ratios of 76.4 and 161.8 that warns about the potential for ascending of the price.

    RSI indicator is in saturation sell area in daily and weekly time frame that confirms the harmonic D point and warns about changing price direction during the next candles. Between 24th and 30th days according to the shape of candles in daily time frame, there is important Evening Star pattern with 3 stars (also formation of ideal hammer candlestick pattern that warns the failure of sellers in achieving to the lower prices) that warns about ascending of the price in this price range. Generally according to the formed signs in price chart, until the bottom price of 1.18139 is preserved; price will have the potential for increasing and ascend.


    FxGlory
    2013.05.31

  7. #237

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    Technical analysis of NZD/USD dated 03.06.2013

    As it was mentioned in previous analysis of this currency pair dated 15.04.2013, according to the formed signs in the price chary, there was a potential for descending of price which finally happened. Sellers were successful in achieving the lowest price of 0.79366 in this downtrend. In long term time frames like monthly and weekly, price is closed under 5 day moving average and according to the monthly chart condition, there is the potential for descending of the price in long term interval. Right now, price has been stopped from more descend by recording the bottom price of 0.79366 that shows sellers’ retreat and cashing of their trades.

    According to the formed price movements, there is AB=CD harmonic pattern with idea ratios of 76.4 and 127.2 between the top price of 0.82120 and bottom price of 0.79366 that warns about ascending of the price from the D point of this pattern. Stoch indicator in 4H time frame is in saturation sell area and confirms the harmonic D point with its possible ascending cycle and warns about the potential of changing price direction during the next candles. Generally according to the formed signs in price chart until the mentioned bottom price is preserved, price will have the potential for reformation to the resistance level of 0.80039 and in the next stage to the descending trend line.



    FxGlory
    2013.06.03

  8. #238

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    Technical analysis of GBP/NZD dated 04.06.2013

    As it was mentioned in previous analysis of this currency pair dated 03.05.2013, according to the formed signs in the price chart, there was a potential for ascending of price which finally happened. Buyers were able to achieve the highest price of 1.91605 during this uptrend. Currently In long term time frames like monthly, weekly and daily, price is above 5 day moving average that warns the potential of ascending during the next candles.

    According to the potential of ascending in long term interval in this currency pair, likely descending signals in short term time frames will be temporary and unstable. According to the picture below, price with forming AB=CD harmonic pattern starts to ascend and buyers face a notable price increase. Currently price has been stopped by reaching to the resistance line (the alterant level made of two bottom prices) and with creating a bearish candle in daily time frame, points to buyers’ trades getting cash in this area. With breaking the resistance level of 1.91605, there is the possibility for ascending of the price to the descending trend line or weekly pivot 1 level.



    FxGlory
    2013.06.04

  9. #239

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    Technical analysis of GBP/JPY dated 05.06.2013

    GBP/JPY was in a strong and consistent uptrend during the recent months that buyers were successful in achieving the highest price of 156.658. According to the chart condition in long term time frames like monthly and weekly, there is the potential of ascending in long term interval of this currency pair and the most important buyers’ midterm goal is achieving the top price of 163.127 ( belong to 2009 ). There is a Hanging Man candlestick pattern in top price of 156.658 that warns the potential for formation of a successful top price and Vulnerability of ascending trend for buyers. With closing of the next bearish candle, this signal is fixed.

    According to the formed price movements in the chart, there is a butterfly harmonic pattern between the bottom price of 116.905 and top price of 156.658 that warns about descending of the price with completion of this pattern ending point. Stoch indicator in weekly time frame is in saturation buy area and warns about descending of price according to the next cycle during the next weeks. According to the current condition and ascending again from the bottom price of 151.824, the first important warning for descending is breaking of this supportive level. Generally according to the formed signs in price chart, until the top price of 156.658 is preserved, there is a potential for reformation and descending of the price in this currency pair.



    FxGlory
    2013.06.05

  10. #240

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    Technical analysis of GBP/CHF dated 06.06.2013


    As it was mentioned in previous analysis of this currency pair dated 22.05.2013 , according to the formed signs in the price chart, there was a potential for descending of price which finally happened.Sellers were successful in achieving the lowest price of 1.44549 in this downtrend. According to the continues formation of Spinning top candlestick pattern in recent days, it warns about indecision traders and inability of sellers in achieving the lower price in this currency pair.as it is obvious in the picture below , price has been stopped from more descending with reaching to the supportive level (alterant) and has formed a bottom price.

    Stoch indicator is in saturation sell area in daily time frame and it warns the potential for ascending of the price according to the next cycle. The first important warning for ascending of price is breaking of the 1.45790 resistance level(the highest level of price changes in previous day). The first price target of buyers is long term descending trend line in this currency pair. Generally until the bottom price of 1.44549 is preserved, the price has the potential for ascending in this currency pair.



    FxGlory
    2013.06.06

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