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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #51

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    Technical analysis of EUR/USD 19.07.2012

    Right now, the EUR/USD is located in the areas between the supportive and resistance lines and it recorded the 1.22959 level during its last ascend. Formation of this top price is caused by the descending trend line of the two previous top prices. Right now, in the daily time frame, a bottom price is formed on 12th and 13th of July due to the intense falling of this currency pair. These bottom prices issue the possibility of ascending in the price for the buyers as far as they are safe. The two drawn lines in the below chart can continue the trend if they broke.



    FxGlory
    2012.07.19

  2. #52

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    Technical analysis of USD/CAD 07.20.2012

    USD/CAD started its falling after recording the 1.04447 level and was not able to continue its ascending trend. Right now, in the recent falls, this currency pair is located in a descending channel which you can see in the below picture. Also, we can see a Andrewís Pitchfork pattern during the descending trend which has been acting good since 12th of July and the price has fallen. (The price has been stopped by facing the resistance edge of fork pattern and it was expected that a top price has been formed in this area).

    Now, the price has been faced with the supportive edge of the descending channel and therefore has formed a bottom price. This bottom price has recorded the 1.00634 level. Also, RSA indicator is in the sell saturation area and we can expect the formation of a bottom price and after that ascend of the price. Right now, the price is not able for more descending and therefore, has formed a bottom price and as far as that, this bottom price is exists, we can expect the reform of previous trend in this chart.




    FxGlory
    2012.07.20

  3. #53

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    Technical analysis of AUD/USD 07.23.2012

    The AUD/USD has recorded the 1.04429 level as the highest resistance level since its ascending trend on 06.01.2012. There is a resistance area in this level which consists of two top prices. These top prices prevented more ascend of the price which is indicated by the red line in the below picture.

    Right now, the price has formed a top price on the resistance line and the price started falling. If the falling of the price continues the most important supportive level will be the blue supportive line which consists of four bottom price. Also, the Stoch indicator is increasing the possibility of descend of the price by stabling its position in the saturation buy area and its current signal. Considering the daily time frame and closure of the descending candle in the mentioned top price, we can expect descend of the price. Until the formed top price on the red resistance level is maintained, there is the possibility of descend of the price.



    FxGlory
    2012.07.23

  4. #54

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    Technical analysis of GPB/CHF 07.24.2012

    The GPB/CHF currency pair has started its ascending trend since 08.10.2011 and it was able to continue this trend up to now with some small reforms. It recorded the 1.54652 level during its ascending trend. The price is now located in an ascending channel. Also the price has been stopped when it reached the resistance line and has formed a top price. Therefore, the price has descended a little. Right now, in this currency pair, the Stoch indicator is located in the saturation buy area and by considering the next cycle, there is the possibility of descend of theprice. Also, this indicator is the divergence mode with the price.The general trend is an ascending trend in this currency pair, however, as far as the existence of the top price on the channel, we can expect the descend of the price.


    FxGlory
    2012.07.24

  5. #55

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    Technical analysis of USD/CAD 07.25.2012

    This currency pair started its ascending trend after forming a bottom price. right now, this currency pair is stopped after reaching the determined resistance area in the below picture. This resistance area consists of the top prices of the previous price of this currency pair.

    There are several candle stick pattern that are formed in the top price.

    1. Doji Pattern
    2. Hanging man Pattern
    3. Harami Pattern


    All of the mentioned candle stick patterns are issuing the warning of descend and fall of the price. However, by considering that the RSA indicator is located in the saturation sell area and also it is in a divergence mode with the previous price chart, it is issuing the warning of the falling of the price.We can notice the potential of the falling of the price in the 4h time frame and in the lower time frames. Until the mentioned top price is maintained, we can expect the reformation of the price.



    FxGlory
    2012.07.25

  6. #56

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    Technical analysis of NZD/USD 07.26.2012

    As you can see in the below picture, the NZD/USD has formed a top price on the descending trend line when its ascending trend has been blocked when the currency pair reached the descending trendís line and the transformative level. Right now, in the weekly time frame, NZD/USD is surrounded between supportive and resistance lines. So far, these 2 lines have successfully done their function.

    Currently, the price is experiencing a little fall due to reaching to the descending trendís lien in weekly time frame. If this falling trend continues, the next important goal is the trendís line and blue supportive line. Also, the Stoch indicator and the next cycle are issuing the warning of descend and fall of the price in this time frame.

    In the daily time frame, the price has started its ascending trend which is in opposite to the weekly time frame. Also, in the daily time frame, the price has recorded the 0.78065 level. This bottom price is located in the 38.2 Fibonachi ratios which has been drawn from 06.01.2012 to 07.05.2012.

    The price has been appeared in the reforming form of ABCD until when it formed the bottom price during its descending trend. To sum up, as far as keeping the 0.78065 level, we can expect the ascend of the price and its reaching to the red descending trendís line.

    FxGlory
    2012.07.26

  7. #57

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    Technical analysis of EUR/GBP 07.27.2012

    The EUR/GBP has been in descending trend since 07.03.2011. Since the begging of descending trend, there are just some small reforms and ascend of the price which shows the power of descending trend.

    Right now, the price is stopped after reaching the supportive line of the channel. By reaching the supportive line the price has formed a bottom price and therefore a small ascend in the price. currently, the price is closed above the average of last 5 days in the daily time frame, and we expect the ascend of the price. Also, by locating in the saturation sell area, the RSA indicator increase the possibility of ascend of the price in this chart. if the current bottom price maintained its current situation, we can expect the ascend of the price to the transformative level, in the first step, and then reaching the resistance line of channel. The main warning of ascend will be issued when the descending trendís line is broken and the price passed it.


    FxGlory
    2012.07.27

  8. #58
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    Jul 2012
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    Here is where technical analysis enters into the picture. In order to correctly determine the trend of the forex market you need to use the tools provided by technical analysis, also known as technical indicators. By using them correctly you will be way ahead of most traders that haven't took the time to understand these great trading tools.

    Also it is important for you to understand that technical analysis and its indicators are not magical or something that performs miracles for your trading account. You must have a criteria and be wise in how you manage the money in your trading account, so you won't be left with a zero balance in a bad market move.

    Optionbit Review

  9. #59

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    Technical analysis of EUR/AUD 07.30.2012

    The EUR/AUD is standing in the lowest price of the past 20 years. It did not have any ascend or any remarkable reform since 12.01.2008. Right now, this currency pair has the lowest price and also it has broken and passed all of supporting lines since 2008. Currently the descending trend of the price has been stopped in the weekly time frame.

    You can see that the Inverted Hammer candle stick pattern is formed because of this reason. This is the first ascending and reforming candle since 05.21.2012 and before this candle the price has just descending movements. RSA indicator is located in the saturation sell area and by considering the next signal we can expect ascend of the price.

    As you can see in the below picture the blue supporting line consists of two bottom price. Right now, this is the only supporting line in front of the price which prevents more descend of the price. Generally, considering the intense selling situation in recent weeks and market saturation and also, the formation of the 1.16932, we can expect the reform of the price and its ascend as far as remaining the 1.16932 level.


    FxGlory
    2012.07.30

  10. #60

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    Technical analysis of USD/JPY 07.31.2012

    The USD/JPY has been in a descending trend and has registered the lowest price, 77.942, during the recent days. As you can see in the below picture, 77.942 bottom price has formed after reaching the price to the lower edge of descending channel (supporting line). This bottom price prevented more descending of the price and help to price to ascend.

    Right now, this currency pair is located in a smaller ascending channel which prevents the more descending of the price after reaching of the price to its supporting edge ( descending trend line consists of 5 supporting points).The bottom price of 78.092 is stable on the lower edge of the channel. If this bottom price is maintained, we can expect the reaching of the price to the resistance line of ascending channel.


    FxGlory
    2012.07.31

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