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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #21

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    Quote Originally Posted by ;56113
    Thanks to this... but is this accurate? or it can be change??
    Dear quinnrah
    Thanks For your attention
    Not definitive
    Good Luck

  2. #22

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    GBP/JPY in a descending channel

    Right now, the GBP/JPY is in a descending trend. This trend has been started since 21st of March. Also, the current descending channel of this currency pair prevented more falling three times, but the ascend of the price from this supportive line is fragile and small which is the confirmation of victory of the sellers. Right now, the price reached this supportive line for the third time and the formation of the candles with long bottom shadow is showing that the trader pay close attention to this line.

    The third point is the place of facing the price with the channel in the 161.8 Fibonacci level. The price should break and pass this level for more descend. Right now, the price is the saturation area of sell and the price with the RSA indicator is in the divergence state. Divergences are often the sign of reversal trends in the warning charts.

    Because the dominated trend of the market is descending trend, buying positions in this currency pair right now carry high risks. It is better to follow the movement of the market with a close analysis of the price in the 1h timeframe. The drawn lines in the 1h time frame are the most important supporting and resisting levels, and until when the blue line is not broken we can hope the reform of the price in this chart.


    Written by the technical team of FxGlory Brokerage

  3. #23

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    AUD/USD in a descending trend

    The AUD/USD currency pair formed a top price on 29th February and started falling, until now this falling movement is considerable. When the price reached the supportive levels, determined in the below picture, on 23rd and 24th of May, it did not have enough power to break the level. Therefore, the sellers were forced to make cash their positions and retreat. Of course this retreat is temporary and the will control the market again. The important point in analyzing of this supportive level is the formation of the long bottom shadow which is a good reason for confirming the importance of this supportive level.

    In the daily time frame the price is in the supportive area and the average of 14 days movement plays the role of resistance for the price and forces the price to move to the bottom. Also, the price is closed under the average of 5 days movement which confirms the descending trend of the market.



    The possibility of ascend and reform of the price:


    Considering the intensity of the descending trend and the signs of the daily time frame, it is so soon to be hopeful about the reform of the price, but considering the next supportive level and formation of an ideal hammer pattern in the 4h time frame, we can expect that, until when this level is not broken and until when a considerable ascending candle forms, there is the possibility of the reform of the price. Stoch indicator, also, is the saturation of the price and there is a good possibility of an ascending cycle.



    Written by the technical team of FxGlory Brokerage

  4. #24

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    The USD/JPY currency pair 01.06.2012

    The USD/JPY is right now is in a descending trend. This trend has been started since 21st of March and had some minor reform of the price since. Right now, this currency pair is located in some important areas of supportive levels which was not enough powerful to pass these areas and therefore, the sellers of this currency pair retreated right now.

    As it is determined in the below picture, USD/JPY is located in a descending channel which is stopped on the supportive edge. The other supportive level which empowers the supportive edge of descending channel is the transformative level of the price. This transformative level consists of 3 supportive points and right now is playing the role of a supportive level.The price is in saturation sell form in the 4h time frame and RSI indicator also formed a bottom price and has enough potential to start the ascend movement. Therefore, we can predict that until when the mentioned supportive levels are not broken, the price is able to ascend and reform its previous trend.

    The most important supportive and resistance level:

    R1: 79.000
    S1: 78.230



    Written by the technical team of FxGlory Brokerage

  5. #25

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    GBP/ USD 06.04.2012
    Reform or ascend of the price or the continuation of descending trend !


    The GBP/USD currency pair formed a top price on 30th of April and then started its falling process from there which this falling was without any reform in the daily time frame. Right now, this currency pair is stopped by the important supportive lines and levels and the formation of a candle with a bottom shadow confirms that too. The blue tape in the picture number one consists of some supportive levels from different years. The oldest supportive level belongs to 2010.

    Right now, the price in the daily time frame is located in saturation of sell and the stoch indicator confirms it. Also, the price is in the divergence mode, which issues the warning of the reversal of the price.

    In the picture number 2 and in the weekly time frame the price is located on the ascending trendís line. The first bottom price of it is formed in 2009 and the second bottom price is formed in 2010. This is the first test of this supportive line and until when it is not broken; we can expect that the price will ascend from the third point of the trend line.



    Written by the technical team of FxGlory Brokerage

  6. #26

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    Technical analysis of AUD/USD 05.06.2012

    AUD/USD currency pair formed daily hammer candle pattern in the beginning days of the June and also issued a bottom price for technical analyzers. The formation of these two hammer patterns empowered the possibility of the reformation of the prices and stop of more descend, after the severe recent descending trend. To confirm this possibility, we need the formation of an ascending candle.

    The formed bottom price is in the area of the supportive levels which the seller should have enough power to break it and pass it which is determined with a green tape in the picture. Right now, the price ascended and moved toward the middle line and reached it, after reaching the lower edge of Andrews Pitchfork pattern which has a supporting role.

    The RSI indicator shows that the price is in the saturation sell area and has got a good potential for an ascending movement. Also, the price is in divergence mode with this indicator. Therefore, the warning of changing of the movement between the indicator and price is issued. Until when, the green tape is not broken we can expect the reform of the price and ascend of the AUD/USD



    Written by the technical team of FxGlory Brokerage

  7. #27

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    Technical analysis of USD/CHF 06.06.2012

    The USD/CHF currency pair started falling after recording the 0.97698 in its ascending trend. By closing the candle of first of June and by considering the previous candles, the currency pair formed a reversal pattern of Evening Star. This pattern indicates that the ascending trend is stopped and the trend is changing from ascending to descending, which until now, it prevents more ascend in the price.

    The price was stopped on the price areas of 0.95970 and 0.95733 in the descending trend. The reason of this pause is the presence of an important supportive area which prevent more descend of the price which you can see this position in the daily frame well. This supportive level is influencing the price, and until when the price does not pass this level, we cannot expect the reversal trend and ascend of the price.

    You can see the price in an ascending channel, which has been a good clue for prediction of the price. Right now, it seems that, this channel is broken. When the price passed the blue supportive line again, it returns to the ascending channel. This supportive line plays the role of a resistance line and leads the price to the lower part of the chart.


    Written by the technical team of FxGloryBrokergae

  8. #28

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    Technical analysis of GBP/USD on 06.07.2012

    The GBP/USD starts its severe falling from 30th of April. When the price reached the important area of supportive levels, the falling became weaker and it was stopped on first of June which we talked about it on 4th of June. You can see that technical analysis here

    As we told in our previous analysis we mentioned that there is the possibility of the reform and ascend of the price on 4th of June and interestingly the price moved according to the theory of reform and ascend of the price. Right now, the price is closed above the average of the movements of 5 days in the daily time frame and there is a good potential of ascend of the price.

    Right now, the price is in the resistance of 23.6 Fibonacci which is formed from the falling which starts from 30th of April to 1st of June. This stop of the price is evident in the 4h time frame. All the candle stick patterns in the 4h time frame confirm that the price is reacting to theresistance level of 23.6 Fibonacci which is issuing the warning of a price top and falling of the price.

    Right now, the sellers prefer that the price starts its falling trend from this top price and also the Stoch indicator confirm it. The price is now located in the saturation buy area. The price shows a potential of a descending trend in the 4h time frame which is very dangerous for the buyers. If the resistances level of 23.6 breaks, it is the sign of more reforms and ascend of the GBP/USD currency pair.



    Written by the technical team of FxGloryBrokergae

  9. #29

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    Technical analysis of the GBP/CHF 08.06.2012

    The GBP/CHF currency pair started falling and reforming of the price during its ascending trend from the bottom price of 08.10.2011 and after reaching the 1.51000. One of the main reasons of the stopping of the price in this level is the presence of a transformative level during the ascending trend of the price. This transformative level is from 2008 and now plays the role of resistance level. You can see this transformative level in the GBP/CHF weekly chart. Also, it is necessary to mention that, the supportive level of 1.51000 is considered a resistance level too, because of it a simple number.

    The prices had stopped from more ascends when it reached the resistance level. Considering the Stoch indicator, there is a good potential of descending trend during the next weeks and until when this resistance level is not broken.

    However, in the daily time frame we see another situation. The blue ascending trend’s line, which played its role very well, was broken and moved toward the green ascending trend’s line. At this time, the price has a good potential for ascend from the fourth point of the ascending trend’s line. In the first stage, it moves toward the red descending channel and in the next level moves toward the green resistance line. Until when, the mentioned bottom price is not broken, we can hope ascend of the GBP/CHF currency pair.


    Written by the technical team of FxGlory Brokerage

  10. #30

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    Technical analysis of GBP /USD 06.11.2012

    The GBP /USD currency pair is in an ascending trend right now. This trend has started from the green tape which consists of several supportive levels. The currency pair was stopped and started falling when it reached the transformative level during the ascending trend and reforming of the previous movement. This transformative level played the role of a resistance level.

    Right now, this resistance level is one of the most resistance levels which the price is obliged to pass it to continue its ascending trend. The price is closed above the average movement of the past 5 days and until when the descending candle is not closed we cannot expect the ascending of the price and important reforms.

    As we pointed out in the technical analysis of 06.04.2012, the price is making a third point in the ascending trend line. Right now, this bottom price is formed and there is a weekly ascending candle on the line too. Also, the Stoch indicator is in the saturation area of sell and there is agood potential for formation of an ascending cycle. Until when this ascending trendís line is not broken, we can hope ascending of the price from the formed third point of ascending trendís line.

    The most important resistance level:


    R1=1.55984

    R2=1.58000



    Written by the technical team of FxGlory Brokerage

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