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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #241

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    Technical analysis of EUR/CAD dated 07.06.2013

    As it was mentioned in the previous analysis of this currency pair dated 14.05.2013 , according to the technical signs in the chart, there was the potential for ascending of price that finally happened. Price has increased form the third point of ascending trend line and buyers were successful in achieving the highest price level of 1.36318. Currently price in long term time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair.

    As it is obvious in the picture below, price is in an uptrend channel and breaking of the supportive line of this pattern will be the first warning for a price reformation. Right now the price has reached to the resistance level of weekly Pivot 2 and with forming Shooting Star candlestick pattern warns about formation of a top price (need to be confirmed by a bearish candle). According to the formed price movements in 4H time frame, RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for price reformation.As it was mentioned in the previous analysis of this currency pair, according to the ascending of price in long term interval, the signals of short term time frames are possible to be unstable and temporary.


    FxGlory
    2013.06.07

  2. #242

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    Technical analysis of EUR/AUD dated 10.06.2013

    As it was mentioned in the previous analysis of this currency pair dated 15.01.2013 , according to the technical signs in the chart, there was the potential for ascending of price that finally happened. Buyers were successful in achieving the highest price level of 1.40431in this uptrend. Currently price in long term time frames such as monthly and weekly time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair. Right now price is near the round resistance level of 1.40000 which is one of the buyers price target in this uptrend and if it breaks in daily time frame, price will have the potential of reaching to the resistance level of 1.41400.

    According to the formed price movements in 4H time frame, RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for formation of a top price and changing price direction during the next candles. If the supportive level of 1.39717 breaks, there will be the first warning for price reformation in this currency pair and if the price decrease, one of the price targets will be the weekly pivot level which is obvious in the picture below.



    FxGlory
    2013.06.10

  3. #243

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    Technical analysis of NZD/USD dated 11.06.2013

    As it was mentioned in previous analysis of this currency pair dated 03.06.2013, according to the formed signs in the price chart, there was a potential for ascending of price to the specified resistance levels which finally happened and it touched those specified targets. Because of sell pressure and strong downtrend, ascending of price was not stable and sellers could achieve the lowest price of 0.78191. Currently price in long term time frames such as monthly and weekly is under 5-day moving average and warns more descending in long term interval.

    As it is obvious in the picture below, right now price during the downtrend has reached to the ascending trend line (made of 3 bottom prices) and if this supportive line breaks, price will have the potential of reaching to the important supportive level of 0.77300. According to the formed price movements in daily time frame, there is a butterfly harmonic pattern between the top price of 0.86738 and the recent descending that by completing the D point of this pattern (formation of an ascending candlestick pattern or a bullish candle); there is a warning about stopping of descending of the price. There is no clear sign for ascending of the price and the least sign for price reformation and increasing of the price is formation of a bottom price in 4H time frame.



    FxGlory
    2013.06.11

  4. #244

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    Technical analysis of AUD/USD dated 12.06.2013

    AUD/USD since 11.04.2013 had a strong and without reformation downtrend, that sellers during this downtrend were successful in achieving the lowest price of 0.93248.Price by reaching to the supportive level (alterant) and expansion Fibonacci range of 261.8 (ABC pattern) stopped from more descend and with forming a bottom price prepared a field for ascending. There is an AB=CD harmonic pattern with the ratios of 61.8 and 127.2 between the top price of 0.97909 and the bottom price of 0.93248 that prepared a field for ascending.

    Currently the mentioned bottom price is recorded in daily time frame and with formation of the hammer candlestick pattern that shows sellers failure in achieving the lower price warns about changing trend direction. RSI indicator is in saturation sell area in daily time frame and in divergence mode with the price chart that confirms the bottom price of 0.93248warns about changing trend direction. Generally until the supportive level of 0.93248 is preserved , the price will have the potential for reformation of descending trend and reaching to the weekly pivot 1 resistance level.




    FxGlory
    2013.06.12

  5. #245

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    Technical analysis of GBP/USD dated 13.06.2013


    GBP/USD from the bottom price of 1.50049 till now was in strong and consistent uptrend that buyers could achieve the highest price level of 1.56994.currently the price in weekly and daily time frame is above 5-day moving average and warns the potential of ascending in long period of time in this currency pair. Price by reaching to the round resistance level of 1.57000 and the resistance edge of uptrend channel has stopped from more ascend that shows buyers used this price level to exit their trades. Formation of Shooting Star and Hanging Man candlestick patterns with thin body in green area shows indecision market and vulnerability of ascending trend.

    According to the formed price movements, RSI indicator is in saturation buy area and in divergence mode with the price chart that confirms the top price of 1.56994 and warns about changing price direction. One of the important signs for descending is breaking of ascending trend line (made of 3 bottom prices). Generally according to the current situation in 4H time frame until the top price of 1.56994 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.



    FxGlory
    2013.06.13

  6. #246

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    Technical analysis of USD/CHF dated 14.06.2013


    USD/CHF from the top price of 0.98380 till now was in a downtrend that sellers were able to achieve the lowest price of 0.91308. As it is obvious in the picture below, price with formation of AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 has prepared the field for descending of the price from top price of 0.98380 that finally happened. Currently price with teaching to the ascending trend line ( made of 2 bottom prices) has been stopped from more descend and with forming of the Spinning Top candlestick pattern on yesterday, warns the possibility of formation of a bottom price which need the confirmation by the next bullish candle.

    Formation of the lower long shadow in the last day candle shows the failure of sellers in reaching to the lower prices. Stoch indicator is in saturation buy area and in divergence mode with the price chart in daily time frame that confirms the price level of 0.91308 and warns changing price direction during the next candles. The first warning for ascending of price is breaking of the resistance level (the yesterday highest price change) 0.92577. Generally according to the current situation of the price chart in daily time frame until the third point of ascending trend line is preserved, the price will have the potential to ascend and pass the mentioned bottom price.



    FxGlory
    2013.06.14

  7. #247

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    Technical analysis of CHF/JPY dated 17.06.2013

    As it was obvious in the previous technical analysis of this currency pair dated 16.05.2013 , according to the formed signs in price chart, the price has the potential of descending which finally happened. CHFJPY during the uptrend since 2012 with approaching to the highest historical level in the price chart has been stopped from more ascend and with formation of a top price and recording of it in weekly time frame warns the potential of reformation of the price in long period of time.Currently on monthly time frame in the previous candle , price has formed Spinning Top candle stick pattern that is the possible vulnerability of ascending trend on long period of time and also in weekly and daily time frames price is under 5-day moving average and warns about more descending during the next candles.

    Sellers during the recent descending were successful in achieving the lowest price of 101.799. As it is obvious in the picture below, price with reaching to the supportive edge of downtrend channel also alterant level range has been stopped from more descend and by forming a bottom price of 101.799 has prepared the field for ascending of price. In 4H time frame in green range, price has formed Evening Star candlestick pattern which is in the same direction with RSI indicatorís signal that warns about ascending of price during the next candle in midterm intervals. The first warning in this currency pair for descending of price (in the same direction of long term time frames) is breaking of the supportive level of 101.799.



    FxGlory
    2013.06.17

  8. #248

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    Technical analysis of NZD/USD dated 18.06.2013

    As it was mentioned in the previous technical analysis of this currency pair, according to the formed signs in the price chart, there is the potential of formation of a butterfly harmonic pattern which finally happened and price has ascend to the level of 0.81364. price in daily time frame created hammer candle stick pattern in bottom price of 0.77622 and has provided ascending of price and stop loss of price.

    In weekly time frame, price with creating four points on ascending trend line warns stopping of price downfall against monthly time frame. stoch indicator is in saturation sell area confirms the mentioned bottom price and warns the potential of ascending of price according to the next cycle. Currently sellers were successful in descending of price in midterm interval and the first sign for buyers with formation of a bottom price and recording of it in 4H time frame is breaking of 0.80105 level that provide ascending of price in the same direction of butterfly harmonic pattern signal.


    FxGlory
    2013.06.18

  9. #249

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    Technical analysis of AUD/JPY dated 19.06.2013

    AUD/JPY with formation of the top price of 105.349 has started to descend and sellers were successful in achieving the lower price of 88.897.Currently price in monthly, weekly and daily time frames is under 5-day moving average that shows a consistent descending trend with the potential of more downfalls in long period of time. Price during the downtrend with reaching to the ascending trend line (made of 2 bottom prices) and also alterant levelsí range has stopped from more downfalls and with formation of Inverted Hammer and Hammer candlestick patterns shows the vulnerability of the downtrend.

    Stopping of price at mentioned Support levels indicates some sellers use them to exit their trades.Currently due to the recent heavy decline, RSI indicator is in saturation sell area that warns about formation of a bottom price in this area. The first warning for price reformation and beginning of an ascend is breaking of the resistance level of 90.704. Currently according to unclear signs for ascending of price in long term time frames, if the supportive level of 88.897 breaks, price will have the potential for descending to the important supportive level of 88.000.




    FxGlory
    2013.06.19

  10. #250

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    Technical analysis of AUD/CAD dated 24.06.2013

    AUD/CAD since 11.04.2013 was in strong and consistent downtrend that sellers were successful in achieving the lowest price level of 0.94740. On 20th day price with reaching to the round supportive level of 0.95000 and also the alterant level (made of two peak prices) has been stopped form more descend and with formation of hammer candlestick pattern warns about formation of a bottom price. Formation of long lower shadow at the end of 20th day shows sellers failure in reaching to the lower prices.

    In daily time frame with closing of bullish candle at the end of 21st day and its combination with two previous candles has made an important Morning Star candlestick pattern which warns about formation of a successful bottom price and ascending of price during the next candles. With this downtrend, RSI indicator is in saturation sell area and in divergence mode with the price chart that warns changing price direction. Generally according to the formed signs in the chart, until the bottom price of 0.94740 is preserved, price has the potential to ascend.


    FxGlory
    2013.06.24

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