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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #61

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    Technical analysis CHF/JPY

    In the recent months, the CHF/JPY has been in a descending trend. As you can see in the below picture, after reaching the ascending trend line, the descending trend of the price has been stopped and the bottom price of 78.361 has been formed. The ascending trendís line consists of two bottom prices which have been formed in 2010 and 2008 and right now, it is considered as the most important supporting level for the price.The price is located in the saturation sell area. If the mentioned bottom price maintained, the possibility of ascend and reform of the price from the third point of ascending trendís line would increase.

    In the daily time frame, the price has ascended from the formed bottom price, 78.361, of the ascending trendís line and it was stopped by reaching the red descending trendís line. However, due to closing of the ascending candle in the last week, and possibility of ascend of the price from ascending trendís line the price has returned to the descending trend line.Right now, in the daily time frame, by considering the recent movements of the price charts and indicator of MACD we can notice that they are in a divergence mode which issues the warning of formation of a bottom price and ascend of the price. To start ascending and reforming of the price, the price should break descending trendís line and pass it.




    FxGlory
    2012.08.01

  2. #62

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    Technical analysis of AUD/USD 08.02.2012

    Right now, this currency pair is in an ascending trend and in the daily time frame we can see the ascending channel pattern. As we predicted in the technical analysis of 07.23.2012 there was the possibility of descend and fall of the price. As you can see this descend has happened and it is moving toward the descending trendís line. By reaching the supporting line the price will not be able to pass it and therefore it will form a bottom price and ascend toward the resistance line.



    Right now, the price has formed for the fourth time a top price on the resistance line, and registered the 1.03404 level. In the top price, a Doji pattern has formed which indicates that a top price will form for descend of the price. Likewise, the previous technical analysis the Stoch indicator is showing the next cycle as a descending cycle and is issuing the warning of fall of the price. Generally, as the formed top price is maintained, there is the possibility of descend of the price.

    In the weekly time frame, there is not any sign of descend of the price. also, the price is intended to reach the resistance lines in the weekly time frame. Right now, the buyers are leading a movement to reach the 105404 level and you can see this movement in the 4h charts.The price has been stopped from more descend during its descending trend from the 1.05404 to the transformative supporting level. Formation of Lower Long Shadow in the transformative level indicates the importance of supportive level and the intention of buyers to prevent descend of the price.


    FxGlory
    2012.08.02

  3. #63

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    Technical analysis of GBP/CHF 08.03.2012

    During its ascending trend, GBP/CHF has recorded the 1.54651 level and after that it started its descending trend and reforming of the price. Reaching two resistance lines of the ascending channels is the reason of formation of the 1.54651 level. This formation does not let the price ascend more. You can see these two channels in the below picture.

    Also, the price has formed the candle stick pattern of Bearish Dark Cloud Cover after reaching the ascending channel which is issuing the warning of forming of a top price and the possibility of falling of the price. Also, indicator of RSA is showing the saturation sell situation and is issuing the warning of fall of the price and reform of the price.Generally, until the formed top price is maintained, there would be the potential of descend and reform of the price. if the price descended, the first target of the price will be the supporting line of ascending channel.



    FxGlory
    2012.08.03

  4. #64

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    Technical analysis of USD/CHF 08.06.2012

    Right now, the price of the USD/CHF is closed under the average of movements of last 5 days in the weekly time frame. By reaching the transformative level, the price will be stopped and will form a top price.The origin of this bottom price was in 2009. Also, this top price is located in the important Fibonacci level of 61.8 which increase the possibility of the reforming and falling of the price.

    About indicator, we can notice that the Stoch indicator is located saturation sell situation, and by considering next cycle we can expect the falling and descending of the price. Indicator MACD is in the divergence situation with the price by considering the recent 2 peaks of the price. This indicator is issuing the warning of the formation of a top price and falling of the price. Generally, as far as keeping this formed top price untouched and safe, the price has a good potential of descend and reform.

    The price is surrounded by two descending and ascending channels in the 4h time frame. The recent ascend of the price was happened because the price had reached to the supportive bottoms of these channels.The formation of a candle with long shadow is the sign of tradersí attention and consideration about these levels. The price should break the supportive bottom of ascending channel to continue its descending trend, otherwise, we can expect ascend of the price from these area and this ascending channel.


    FxGlory
    2012.08.06

  5. #65

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    Technical analysis of EUR/USD 08.07.2012

    By forming a bottom price and making it stable on the 1.20408, the EUR/USD currency pair prepares the situation for the ascending of the price. as you can see in the below picture, formation and stabling of the this bottom price has taken 3 weeks and since then it has started its ascending trend. This supportive bottom price was formed on the blue supportive line. This supportive line has prevented more descend of the price and is leading the price toward the descending trendís line and resistance trendís line. The price is closed above the average of 5 last days and it is obvious that until the price is closing like this and the trend will be ascending.

    The Stoich indicator is located in the saturation sell area and is issuing the warning of ascend of the price with the next cycle. Also, the Stoich indicator is in divergence mode with the price chart which this divergence is issuing a powerful warning comparing to the previous signal about ascending of the price.



    FxGlory
    2012.08.07

  6. #66

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    Technical analysis of EUR/CAD 08.08.2012

    The EUR/CAD is located in the supportive areas which consist of 1991, 2000, 2010. To increase the descending trend the price should pass these areas. These supportive areas have the potential of preventing more descend of the price. You can see these supportive areas in the monthly time frame.

    In the weekly time frame, right now, the descending trend of the price has been stopped when the price reached the blue supportive line and the it formed the third bottom price on this line. There are two candle pattern on this line, Hammer and Inverted Hammer, which are good proves of sellersí defeat to reach the lower prices and then formation of a bottom price.

    Stoch indicator is located in the saturation sell area and by considering its next cycle, it is issuing the warning of ascend of the price and increase in the price in this time frame. Right now, the price, is descending in the smaller time frames and is moving toward the 1.21945 and there is not any sign of ascend in the 4h time frame. Generally, until the supportive level of 1.21945 is maintained we can expect the ascend of the price in the weekly time frame from the third supportive bottom price.


    FxGlory
    2012.08.08

  7. #67

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    Technical analysis of EUR/AUD 08.09.2012

    The EUR/AUD is located in the lowest price of its past 20 years. It did not ascend from 12.01.2008 and continued to descend. Also, it has broken all of the supportive lines since 2008 and passed them. Right now, the most important supportive level is the 1.6000 level which due to its roundness is very important.

    As you can see in the below picture, the price has descended since 05.13.2012 without any reforms and has been stopped in the two previous candles of weekly chart. The current price bottom consists of the two reversal candle stick pattern of ( Hammer& Inveted Hammer)which both of them are issuing the warning of the formation of a bottom price and then ascend of the price.

    Right now, the price is descending and there is not any sign of descend of the price in the 4 h time frame. Closing of the current candle in the weekly time frame can be a sign of ascending of the price, if the bottom price of 1.6000 broke, a bottom price would form in the long time frames. Stoch indicator is in the saturation buy area in this time frame, by considering the next cycle we can expect the ascend of the price during next weeks. The signal of the indicator would be more powerful if the price passed the supportive level of 1.30200.



    FxGlory
    2012.08.09

  8. #68

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    Technical analysis of AUD/JPY 08.10.2012

    During recent weeks the AUD/JPY has been in a descending trend and it was able to reform the powerful descending wave that happened from 03.18.2013 to 06.03.2012. Right now, this currency pair is in a top price in daily time frame as it is indicated in the below picture. The candle of third day is a defeat in this month which is not able to pass the supportive level of 07.05.2012 and finally will lead the price to the reverse supportive level.

    Right now, the formed top price is under the influence of the 127.2 Fibonacci from the expansion pattern of ABC (red) and also the 61.8 Fibonacci from the bigger pattern of ABC (blue) and is supporting the supportive level of 83.339.Right now, the Stoch indicator is in the divergence mode with the price chart and is issuing the warning of the fall of the price and also the MACD indicator is in divergence mode by considering its movements and the top prices of A & C.Right now, we can see the potential of descending trend and if the top price of 83.339 maintained we can expect the possibility of descend of the price.


    FxGlory
    2012.08.10

  9. #69

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    Technical analysis of Gold 08.13.2012

    Right now, the gold could pass the supportive and resistance areas after several months by its little ascend and move toward the descending bigger line. Right now the price is closed above the average of last five days and in an ascending mode and is moving toward and testing the resistance level of 1629.07.

    The mentioned resistance level is the most important level in the ascending movement of the price. If an ascend trend occurred in the gold chart, the price would move toward descending trendís line and this level would be the most important resistance level after the level of 1629.07

    If the monthly time frame, the candles are closed in ascending mode two months ago and the price is moving toward and generally we can expect the ascending of the price and locating in a bottom price. Also, in this time frame, the Stoch indicator and its next cycle, we can expect the ascend of the price and locating in a bottom price during next months.



    FxGlory
    2012.08.13

  10. #70

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    Technical analysis of AUD/USD 08.14.2012

    During its ascending trend the AUD/USD registered the level of 1.06110, then it started to falling. The reason of this descending, as you can see in the below picture, is the red resistanceís line which consists of 4 peaks of price. All the candles on the resistance line confirm the defeat of the sellers to reach the higher prices on the resistanceís line.

    Right now, the price is closed under the average of last 5 days in the daily time frame and if the theformed top price maintained its position, we can expect the ascend of the price to the ascendingís trend line in the first stage. In the weekly time frame, the previous weekís candle is closed like the Doji pattern and this show that the market was unable to make a decision on that week and also, indicates the doubt of the buyers during the ascending trend. Right now, this pattern is like a resistance level according to the characteristics of the candle stick patterns.

    Stoch indicator is located in the saturation sell area and by considering the next cycle, it is issuing the warning of the formation of a top price and descending of the price in next weeks. Right now, we can see the lower descending trendís line according to the lower prices in the chart which are acting as an important resistance level and are issuing the warning of descending of the price from the third point of descending trendís line.



    FxGlory
    2012.08.14

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