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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #81

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    Technical analysis of GBP/JPY dated 07.09.2012

    Right now GPB/JPY pair in its descending trend from 2007 year is in the lowest fixed prices during its recent 20 years. As it is obvious in the picture below the bottom price of 2009 year has prevented from more descend of the price, once in 2011 and twice in 2012 and finally the price has been ascend. Right now the price by reaching to the supportive level, is stopped from more descend and it is ascending now.

    According to the heavy and powerful descend which is fixed from 2007 year; there is a vacuum in monthly chart of this currency pair which shows the potential for ascending of the price, and until the supportive level is preserved in this currency pair, the reverse and ascend of the price is possible. In daily time frame, as you see in the picture below, the descending trend line is broken with the three top prices and the price is in top of 5 days moving average and shows the possibility of more ascends in this currency pair.



    FxGlory
    2012.09.07

  2. #82

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    Technical analysis of USD/JPY dated 10.09.2012

    As it is obvious in the picture below the rapid and powerful downfall of 7th of September stops by ascending trend line which is made of two supportive bottom price. The formation of long lower shadows on the ascending trend line shows the importance of this line and the sellers’ failure for getting more descending price.

    Right now the USD/JPY currency pair is near its lowest descending price during the previous 20 years, and the most important supportive level with more descend reaches to the level of 75.556 which is the lowest fixed level in the history of monthly USD/JPY chart. Right now the price is located in sell saturation area and is stopped from its descending trend, and stoch indicator confirms this form in 4H time frame and shows the possibility of correction of the previous trend. As long as the supportive level of 78.005 is preserved, the ascending of the price and reaching to the resistance level is possible, and you can see it in the picture below.



    FxGlory
    2012.09.10

  3. #83

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    Technical analysis of AUD/USD dated 12.09.2012

    AUD/USD currency pair in 6th of August starts to ascend by creating the bottom price and fixed ascending candles, and as it was mentioned in the previous analysis of this currency pair the minimum reliable sign for the end of descending trend and beginning of ascending trend is the formation of the bottom price and fixing of it in daily time frame.Right now there is no sign of descending in long term time frames of this currency pair and the price is in top of the five days moving average in daily time frame. The buyers try to reach the long term descending trend line (which was successful for 3 times and the price by reaching to that fell down.) right now the price is drawn on the descending trend line in weekly time frame and if Ascending candle closes today, the goals will be long term descending trend line in first step and in the next step psycho resistance level in this currency pair.


    FxGlory
    2012.09.12

  4. #84

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    Technical analysis of USD/CAD dated 13.09.12

    USD/CAD currency pair was in descending trend from 04.06.2012 till now and in its moving, it has done considerable price reformation. This currency pair by reaching to the blue supportive line which is made of two supportive bottoms loses its ability to descend and the daily candle of this currency pair closes in ascending trend and forms the bottom price of 0.97120. This bottom price has stabilized by closing of yesterday ascending candle and it is the nearest supportive level if the price descends more.

    There is a bottom price in supportive level which supports the 0.97120 level. And Stoch indicator is located in the saturation sell area and shows the possibility of ascend and increase of price in the next days. Although there is an ascending trend and price reformation in daily time frame, there is no sign of ascending in weekly and monthly time frames. Generally until the bottom price on supportive line is preserved, it is expected the price increase and ascend.



    FxGlory
    2012.09.13

  5. #85

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    Technical analysis of AUD/USD dated 17.09.2012

    As it was mentioned in previous technical analysis of this currency pair, there was the possibility of price ascending which finally could reach to the descending trend line and the important psycho resistance level of 1.06000 during the last weekend. Right now the descending trend line is not broken yet and this line could descend the price. There is Shooting Star candle pattern in the chart which was made in the last day of previous week and warns the formation of a top price but this warning is not important in technical analysis.

    According to the last ascend of this currency pair in last week, there is a top price of 1.06225 which is fixed and until this top price is not broken. There is the possibility of descending and price reformation in this currency pair. Stoch indicator is located in the saturation sell area and shows the possibility of descending of price according to the next cycle. The first sign of more ascend is the closing of the ascending candle on descending trend line.



    FxGlory
    2012.09.17

  6. #86

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    Technical analysis of EUR/GBP dated 18.09.2012

    As it was mentioned in the last technical analysis of this currency at 6th of August, there was the possibility of ascending and increasing of the price with the formation of the bottom price on the ascending trend line and also the formed signs in weekly and monthly time frames, which finally this currency pair ascends. The price during its ascending trend reached to the red resistance line (the top edge of ascending channel) and descends.Predicting of this channel was true about the ascending of the price. Right now the top price of 0.81149 is fixed and the stoch indicator is in saturation sell area and shows the possibility of descends by the next signal. Generally the ascending of price is possible if the top price is preserved. There is a general trend in technical analysis view of this currency pair monthly and until the bottom price of 0.77624 is preserved this view is possible.


    FxGlory
    2012.09.18

  7. #87

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    Technical analysis of USD/JPY dated 19.09.2012

    USD/JPY currency pair in its descending trend in last week by reaching to the blue ascending trend line has been stopped ( the formation of third point of ascending trend line ) , and the sellers are not able to reach to the lower price. As it is obvious in the picture below , the formation of long lower shadow in weekly candle shows the care and attention of the traders to the blue supportive trend line which finally this candle convert to Hammer candlestick pattern that shows the possibility of the formation of a bottom price and ascend of the price during the next weeks.

    According to the next cycle, stoch indicator shows the potential and the possibility of ascend in weekly time frame. Right now the price in its ascending trend has reached to the short term descending trend line and is testing this resistance line. The most important sign of ascending is the closing of the ascending candles on descending trend line in daily time frame. And in this case the next important goal is the long term descending trend line, as it is drawn in the picture below.



    FxGlory
    2012.09.19

  8. #88

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    Technical analysis of USD/CHF dated 20.09.2012

    USD/CHF currency pair in its descending trend from the top price of 0.99704 to the ascending trend line (fourth point of ascending trend line) has been stopped from more descends and made the bottom price of 0.92384 The formation of candles with small body in 17 ,18 and19th shows the Market indecision for ascending or descending that generally is the failure of the sellers for reaching to the lower price.

    As it is drawn in the picture below , the price is on the supportive edge of the descending channel that was simultaneously with the formation of the third point on ascending trend line, and this is not an ideal mode for returning from supportive edge of Channel but there is the possibility of ascend and the price reformation. RSA indicator is in saturation sell area and shows the possibility of the formation of the bottom price to ascend and increase of the price during the next days in daily time frame. Generally until the supportive level of 0.92384 is preserved, there is the possibility of the price reformation.



    FxGlory
    2012.09.20

  9. #89

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    Gold: more ascend or price reformation?

    In daily time frame of Gold, as it is obvious in the picture below, it recorded the bottom price in 16.05.2012 and confirming of it in 23rd and 30th of the same month and finally ascends. The price in its ascending trend recorded the level of 1786.85 and reached to the descending trend line which is made of two resistance point and finally stops. (The formation of third point of descending trend line)

    With the formation of the six daily candle on this trending line and not starting of descending and downfall in chart, the strength of the buyers and non-cash transactions of their buy and finally they hope to the higher price. From the formed candles we can point to Shooting Star and Hanging Man Pattern which both of them warns about the formation of top price and descend. But the important point is here that the descending of next candle which is not observable yet.

    Stoch indicator is in saturation sell area in daily and weekly time frame and shows the possibility of descend during the next days. Also with the recent movement of this indicator is in divergence mode in price chart which warns about ascending. Generally until the top price of 1786.85 is preserved, there is the possibility of the price reformation in this chart. The first sign of more ascend is the closing of ascending candle in this range.




    FxGlory
    2012.09.24

  10. #90

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    Technical analysis of EUR/USD dated 25.09.2012

    EUR/USD currency pair during ascending from 25.07.2012, could record the price level of 1.31708. As it is obvious in the picture below, the drawn ascending channel is the guide for traders during top and bottom prices. In 11.09.2012 with the revert of the price and reaching to the resistance line of channel , the property of the resistance line will change and convert to the supportive line and cause ascending of the price.

    Right now the price reached to this supportive line and stopped from more descends and recorded the bottom price of 1.28846. Stoch indicator is in saturation sell area and shows the possibility of ascend during the next candles. The first important sign and confirm of ascending mode is preserving of the created bottom price on supportive line and closing of ascending candle on resistance level of 1.29525 in 4 hours time frame.



    Fxglory
    2012.09.25

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