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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #71

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    Technical analysis of EUR/USD 08.15.2012

    The EUR/USD has been stopped and formed a supportive bottom price during its descending trend and after reaching the 1.23159 level. As you can see in the picture, the reason of the formation of this bottom price is the presence of a transformative level which prevents more descend of the price. Also, this level is the lower price of the daily candle of yesterday and therefore is a very important one. If the price ascended, the price would reach the drawn ascending lines in the picture.

    Right now, if the 1.23159 level is maintained, the price would ascend to the 1.23159 level at the first level and then to the 1.23853. also, in the 4h time frame the Stoch indicator is located in the saturation sell area and by considering the next cycle we can expect the ascend of the price.



    FxGlory
    2012.08.15

  2. #72

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    Technical Analysis of EURJPY pair dated 16.08.2012

    EUR/JPY has been stopped on the supportive line by making the lowest price of 94.127 in its descending trend during three weeks ago and after that there is a little ascends. This supportive line is made of two supportive depth in 2010 and 2012 years. And it prevents from the descending of price in 24.07.2012. Right now the price must break the resistance level at 97.800 for having an ascending trend, the price needs to become 97.800 and upper that.

    Generally until the created lowest price on the supportive line is preserved, the price has a descending trend which you can see in the below picture. Stoch indicator in weekly time frame determines the ascending trend by next cycle in divergent chart. Right now in this chart the important Wolfe Wave pattern is formed which it is completed in number five. And this pattern predicts the same trend for this pair in the next weeks. This pattern is recessive which often will form at the end of ascending and descending trends, and usually is an important warning for changing trends.



    FxGlory
    2012.08.16

  3. #73

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    Technical Analysis of AUDUSD pair dated 20.08.2012

    As it is mentioned in previous technical analysis of this pair in 14.08.2012, according to the symbols that were formed in the chart, it was possible that the price in this pair decreases and finally it happened. By reaching the price to the ascending line of which you can see in the picture, the price couldnít crossed the ascending channel so it formed a supportive bottom on this line.

    This supportive bottom is fixed in the price level of 1.04098. Right now by reaching the price to the alternate level (from supportive to resistance) which is determined in the picture is testing that, and this level displays its resistance feature and it didnít let the price to get higher until now. Stoch indicator in 4H time frame is located in the saturation sell area and by considering the next cycle we can expect the increase of the price. And this will be so until the bottom price is 1.04098. Generally until the price is in this ascending channel, the descending hypothesis in daily and weekly time frames is weaker and for having a decending trend the ascending channel must be broken.



    FxGlory
    2012.08.20

  4. #74

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    Technical Analysis of USD vs. JPY pair dated 22.08.2012

    USD/JPY pair in its recent ascending trend by reaching to the descending line which is made of three resistance peaks is unable to ascend more and finally with the formation of top price fell down. Right now in this currency pair in case of the recent downfall the top price of 79.648 is confirmed. And the most important current resistance level will be in front of the price.

    Stoch indicator in 4H time frame is located in the saturation sell area and by considering the next cycle we can expect the increase of the price. And also the bottom price of 79.151 is confirmed in the chart. Generally until this price is preserved the ascending trend and reaching to the resistance level of 79.648 is possible. For having an ascending trend the price must break the descending line and crosses that and by confirmation of the bottom price at 77.910 level, the price will be increased and goes toward the next resistance level.

    In weekly chart of this currency pair, in recent weeks the price is on the alternate level (from resistance to supportive) formed a supportive bottom with the bellow long shadows which shows the failure of the sellers for reaching to the lower price in this range. Stoch indicator in 4H time frame shows the possibility of ascending candles and the first goal for long-term buyers is the resistance level of 80.597.


    FxGlory
    2012.08.22

  5. #75

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    Technical analysis of AUD/USD 08.27.2012

    As we mentioned in our previous technical analysis about AUDUSD, we can see the sign of stop of ascending trend of the market in the long term time frames like weekly time frame. Right now in the weekly time frame, the price has issued the signal of descending of the price and stooping of the ascending trend by making a top price on the descending trendís line.

    The formed candle on the descending trendís line is the Doji candle. This candle is confirming that the market is not able to make decision to descend or ascend. This uncertainty will cause the defeat of the buyers in reaching the higher price. Now, the price is closed under the average of the last 5 days and Stoch indicator is issuing the warning of descending and falling of the price in its next cycle.


    [/B]FxGlory[/B]

  6. #76

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    Technical Analysis of EUR vs. CHF pair dated 29.08.2012

    EUR/CHF pair from 29.08.2012 faced with a neutral trend which is continued now. The formation of candles with small framework and lower or higher shadows confirms the irresolute market and not having a special aim in this currency pair. As you can see in the below picture, in this density range, the price tends to descend by reaching to the top of this neutral range and finally tends to ascend by reaching to the bottom price.Until the price acts within this range with the mentioned candles, only the transactors, who act within the neutral market, take profit. And the only important attitude toward the technical analysis in present situation is, sell in top prices and buy in bottom prices. Closing of lower prices of descending or ascending candles out of the density range is the first warning of getting out of the neutral trend in this chart.



    FxGlory
    2012.08.29

  7. #77

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    Technical analysis of USD/CAD dated 30.8.2012

    USD/CAD currency pair during the last week by reaching to the supportive level of 0.98405 starts to ascend as it is obvious in the below picture. The formation of long lower shadows emphasizes the existence of supportive level in this range. Also Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price by considering the next cycle.

    Right now the price is in conflict with the descending trend line in daily price time frame. This trend line has prevented from ascending and increasing of the price successfully till now. Right now we can see the ascending trend in this time frame and RSA indicator confirms this potential. Closing of the today ascending candle in descending trend line is the first warnings for more price ascend. And also in the next stage the parallel line on the descending trend line is the next obstacle for the price. Generally until the supportive level of 0.98405 is preserved the price has the potential to increase and ascend.


    FxGlory
    2012.08.30

  8. #78

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    Technical Analysis of NZDUSD pair dated 03.09.2012

    The price during its ascending trend in 06.08.2012 and 23.08.2012 by reaching to the descending trend line has been stop from more ascend and finally starts falling down which is obvious in below daily time frame. Right now the price by making the bottom price of 0.79680 and fixing it by strong ascending candle in 31 of August is unable to continue its descending trend. According to the recent price movement, AB=CD harmonic pattern observes in the price chart by ideal ratio of 76.4 and 127.2 that the completion of the D point warns increase and ascend of price by this harmonic pattern. The formation of ending point of this pattern in supportive level (supportive to resistance) confirms the harmonic pattern in below picture.

    Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price by considering the next cycle. Generally until the bottom price of 0.98405 is preserved the price has the potential to increase and ascend.


    FxGlory
    2012.09.03

  9. #79

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    Technical analysis of AUD/USD dated 05.09.2012

    As we mentioned in our previous technical analysis about AUD/USD dated 27.08.2012, the downfall of price is possible by technical signs which finally caused the descending of price till now. In daily time frame the price is closed under the five days moving average and shows more descend which is continued. Right now according to the recent downfall around 50 and 61.8 Fibonacci of previous trend is corrected and the next goals are through more descend of 50 and 61.8 Fibonacci which is drawn in the picture below.

    Right now there is not a clear and important technical sign for stopping of descend and ascending of the price. In weekly time frame by closing of descending candles on descending trend line in recent three weeks, there is no signal for ascending of the price and shows the possibility of the ascend during the next weeks. The minimum sign of ending the descending trend is the formation of the bottom price in daily time frame and fixing of it, and until there is no bottom price, we can consider the trend as descending one.


    FxGlory
    2012.09.05

  10. #80

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    Technical analysis of EUR/GBP dated 06.09.2012

    In the previous technical analysis of EUR/GBP dated 27.07.2012
    is pointed to the possibility of ascend and increase of price which finally the price of this currency pair was ascending till now. Right now the resistance level ( from supportive to resistance )which is drawn in the picture below , prevent from more ascend of price three times in 8th ,20th and 31st of August , and the technical analyzer paid attention to this powerful price obstacle in the previous analysis.

    Right now the price in its ascending trend faced the descending trend line but it was not successful to be returned, and the imperceptible price is going to break this descending trend line. The first sign for more ascend is the conversion line (supportive to resistance) and closing of the ascending candles on top of this level. In monthly chart of this currency pair, the bottom price of 0.77624 is fixed and Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price in the next months by considering the next cycle. Also this indicator became divergence with the price chart that makes the possibility of ascend stronger according to its signal. Generally as it is specified in daily time frame until the bottom price of 0.78863 is preserved, it is expected the price increase and ascend.


    FxGlory
    2012.09.06

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