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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #271

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    Technical analysis of NZD/USD dated 25.07.2013

    As it was mentioned in the previous technical analysis of this currency pair dated 27.06.2013, according to the formed technical signs, there was the potential for changing price direction which finally the price ascends. Buyers were successful in achieving the highest price of 0.80228. As it is obvious in the picture below, Price has passed the descending trend line made of 2peak prices and with being above 5-day moving average warns about more ascending.

    Stoch indicator in weekly time frame is in saturation sell area and in divergence mode with the price chart that warns about the potential of ascending during the next candles. If the price ascends more, one of the buyers’ targets and the next resistance level will be number one weekly pivot of 0.80400 and 0.81000. According to the current situation there is not any clear reason about descending of price in long term time frames. The least sign for descending of price is formation of a top price and recording of it in daily time frame.



    FxGlory
    2013.07.25

  2. #272

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    Technical analysis of USD/CAD dated 26.07.2013

    USD/CAD since the first days of this month with creating a top price of 1.06084 has started to descend. According to the recent downfall, price is under 5-day moving average that shows a strong and consistent descending trend. Currently price has touched the ascending trend line made of 2 bottom prices and with exit of some sellers from their trade; there is a hammer candlestick pattern in 4H time frame which is the price reaction to this supportive level. According to the recent pressure of selling there is a need of confirmation with closing of a bullish candle, otherwise this pattern is not much reliable.

    As it is obvious in the picture below, between the top price of 1.04403 and the bottom price of 1.02528, there is a butterfly harmonic pattern that with completion of the D point there will be a warning for increasing of the price. RSI indicator is in saturation sell area and in divergence mode with the price chart that warns about changing price direction. Generally the first warning for ascending of price is breaking of 1.02871 resistance level.




    FxGlory
    2013.07.26

  3. #273

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    Technical analysis of EUR/USD dated 29.07.2013

    As it was mentioned in the previous technical analysis of this currency pair dated 10.07.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 1.32958. Right now in weekly, daily and 4H time frames price is above 5-day moving average which shows consistent ascending trend. As it is obvious in the picture below, price has been stopped from more ascending with reaching to the descending trend line made of several resistance points (buyers leave their trades) and with creating the top price of 1.32958, the field has been prepared for descending.

    RSI indicator is in saturation buy area and in divergence mode with the price chart and confirms the top price and warns about changing price direction during the next candle. The first warning for descending of price is breaking of the conversion level of 1.32526 (resistance to support) or breaking of ascending trend line (made of 3 bottom prices, obvious in the picture below) in this currency pair.


    FxGlory
    2013.07.29

  4. #274

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    Technical analysis of GBP/JPY dated 30.07.2013

    GBP/JPY has prepared the field for a downfall from the level of 154.016 with creating a top price (formation of divergence mode between RSI indicator and chart and AB=CD harmonic pattern). According to the created top prices in monthly and weekly time frames, there is the potential for reformation of ascending trend in long period of time. Sellers were successful in achieving the lowest price level of 149.957. Price has been stopped from more descending with reaching to the middle line of Andrew’s Pitchfork pattern during descending and also ascending trend line made of 2 supportive points (some sellers used these levels to leave their trades).

    According to the recent downfall from the top price of 154.016, RSI indicator is in saturation sell area and with the next cycle confirms the bottom price of 149.957 warns about price reformation during the next candles. The first warning for ascending of price is breaking of resistance level of 150.889.


    FxGlory
    2013.07.30

  5. #275

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    Technical analysis of USDCAD dated 31.07.2013

    As it was mentioned in the previous technical analysis of this currency pair dated 26.07.2013, according to the formed technical signs, there was the potential for ascending of price to the conversion level (supportive to resistance) which finally happened. Buyers were successful in achieving the highest price of 1.03210.as it is obvious in daily time frame, price has been stopped from more descending with touching the supportive lines made of ascending trend line and 2 bottom prices and number one level of Warning line, Andrew’s Pitchfork pattern and with creating the bottom price of 1.02488 has prepared the field for ascending. With closing of the yesterday bullish candle, there is the potential for more ascending from the round resistance level of 1.06000.

    As it is obvious in the picture below, Stoch indicator is in saturation sell area and warns about ascending of the price during the next candles. Currently there is a top price in 4H time frame that the first warning for ascending of price is breaking of the resistance level of 1.03210.


    FxGlory
    2013.07.31

  6. #276

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    Technical analysis of AUD/CAD dated 01.08.2013

    AUD/CAD was in a strong and consistent descending trend that sellers during this descending trend were successful in achieving the lowest price level of 0.91698. Currently in 4H time frame with formation of hammer candlestick pattern (the failure of sellers in reaching to the lower prices) price has been stopped from more descending and there is a possibility of formation of a bottom price and finally ascending of the price.

    As it is obvious in the picture below between the top price of .97788 and the bottom price of 0.91698, there is an ideal AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that with completion of the D point (also formation of butterfly pattern in CD wave), there is a potential for ascending of price.Stoch indicator is in saturation sell area and in divergence mode with the price chart confirms the D point of harmonic patterns and warns about potential of ascending during the next candles. Generally until the bottom price of 0.91698 is preserved, price will have the potential for reformation.


    FxGlory
    2013.08.01

  7. #277

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    Technical analysis of GBP/CHF dated 02.08.2013

    GBP/CHF since 20.05.2013 is in a downtrend that sellers were successful to achieve the lowest price of 1.40426. Right now price in long term time frames such as monthly and weekly is under 5-day moving average which shows the downtrend. As it is drawn in the picture below, according to the type of price movement, price is in a downtrend channel that sellers use the supportive edge of that to leave their trades.

    Price has been stopped from more descending with reaching to the specified supportive level( supportive level of downtrend channel, number 3(lower warning line 3) level of pitchfork pattern, supportive level related to 17.04.2013) and with closing of the bearish candle, there is a warning for changing price direction.Stoch indicator in Daily time frame is in saturation sell area and confirms 1.40426 also warns about ascending of price during the next candles. Generally until the bottom price of 1.40426 is preserved, price will have the potential for ascending and reformation.


    FxGlory
    2013.08.02
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  8. #278

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    Technical analysis of AUD/USD dated 05.08.2013

    As it was mentioned in the previous technical analysis of this currency pair dated 24.07.2013, according to the formed technical signs, there was the potential for descending of price which finally happened. During the uptrend from bottom price of 1.91258, price with reaching to the descending trend line made of 4 peak prices has been stopped form more ascend. Right now in 4H time frame price with creating the hammer candlestick pattern (failure of sellers in reaching to the lower price) warns about the formation of a bottom price in this range that needs the recording of the bottom price of 0.88472.

    As it is obvious in the picture below, there is non-ideal butterfly pattern between the top price of 0.93159 and the bottom price of 0.88472 that there is a potential for ceasing of price from D point of this pattern. RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about ascending of price during the next candles. Generally until the price level of 0.88472 is preserved, price will have the potential for reformation and ascending.



    FxGlory
    2013.08.05

  9. #279

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    Technical analysis of GBP/AUD dated 06.08.2013

    As it was mentioned in the previous technical analysis of this currency pair dated 24.04.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful to achieve the highest price level of 1.72547.Currently price in long term time frames like monthly, weekly and daily time frames is above 5 day moving average which shows a consistent ascending trend in long period of time.

    As it is obvious in the picture below, there is a harmonic butterfly pattern between the bottom price of 1.61292 and the top price of 1.72547 that there is a potential for changing price direction from D point of this pattern. RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about descending of price during the next candles. Generally until the price level of 1.72547 is preserved, price will have the potential for reformation and descending.


    FxGlory
    2013.08.06

  10. #280

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    Technical analysis of Gold dated 07.08.2013

    As it was mentioned in the previous technical analysis of Gold dated 11.07.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful to achieve the highest price level of 1347.38. Currently price during the downfall from the top price of 1347.38 has been stopped from more descending with reaching to the middle line of Andrews Pitchfork pattern.

    As it is obvious in the picture below, there is AB=CD harmonic pattern between the top price of 1338.92 and the current descend price with ideal ratios of 61.8 and 127.2 that there is a potential for changing price direction from D point of this pattern. Stoch indicator is in saturation sell area that warns about ascending of price during the next candles and according to the current condition of daily time frame is not high validated. According to the current condition of price, the first warning for descending of price is breaking of the resistance level of 1284.91.


    FxGlory
    2013.08.07

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