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  1. #1

    Lightbulb ForexTechnical Analysis(

    Technical analysis of USD/CHF

    From a technical point of view the currency pair of USD/CHF has a descending trend in 4h time frame. Therefore, we cannot expect an ascending trend of the price in the current situation. Moreover, the price is stuck in a descending channel which again shows another fall in the price. The average of last 21 days’ activities, also, approves this descending trend. But, on the 1 day time frame the situation is different and a warning is issued about a rising in the price. In fact, the factor which is preventing more descent of the price from the supportive level of 90.501 is the ascending trend line (consists of 2 supportive points). Right now, the sellers are trying to defend this supportive level.
    The most important resistance and supportive lines of today:



    Written by the technical team of FxGlory Brokergae.
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  2. #2


    Technical analysis of USD/JPY

    The currency pair of USD/JPY is currently in a descending trend and the market is in the hand of sellers. From 21st of March when this descending trend begun, the price of this currency pair was located in a descending channel and several warning were issued aboutcreation of top price and bottom price which you can see in the following picture.

    Right now, in 4h time frame of this currency pair, we can see the formation of hammer candle stick pattern and a reverse hammer pattern which is the reason of formation of the bottom price in this level. The reason of formation of candle stick patterns is the inability of sellers to reach the lower price. There is the possibility of price reformation in its previous descending trend and this means that the seller can make cash their profitable trades.
    The RSA indicator is located in the saturation area of selling and issues the warning of an ascending trend even for a short time. The co-occurrence of hammer candle stick, reverse hammer and the indicatorís signal increase the possibility of priceís reformation.

    The current most important level of support and resistance:

    R= 80.300
    S= 79.721

    Written by the technical team of FxGlory Brokerage

  3. #3


    The currency pair of USD/CHF 05/02/2012

    After moving 50 pips up from the bottom price, the movement of the USD/CHF currency pair was stopped on 1st of May. In fact, this currency pair is stuck in a descending channel. With a close analysis of market’s reaction once the price faced with the supportive and resistance level of this descending channel, we can realize the power of this channel which causes several ascending and falling of the price.

    As we said in our previous technical analysis, the reason that the price does not fall any more is the ascending trend of the market in the daily time frame which right now, the third point of this trend is made. The symbols of ascending of the price, which the supportive line is one of the most important one, cause the ascending of the price, however, the price is in the area of descending channel right now ,as you can see in the below picture.

    Written by the technical team of FxGlory Brokerage

  4. #4


    Technical analysis of EUR/USD currency pair 05.03.2012

    When the price reached the descending trend line, which is drawn in the picture, on 1st of May, the price was starting falling. This movement was exactly what all technical traders predicted about the marketís movement. Right now, we can see in the daily chart that the price is going to fall and there is not any evidence of ascending trend. The daily candle is closed under the average of 5 days and it shows the price is going to start a descending movement, even a small one, to reach the supporting trend line which you can see in the below picture. Also, by using Stoch indicator again we see that the price wants to fall and we see the possible falling signal in this indicator. If, according to these hypotheses, the price started its descending movement, it would reach the supporting trendí line at least.

    Written by the technical team of FxGlory Brokerage

  5. #5


    Technical analysis of USD/CAD currency pair 05.04.2012

    Right now, in the daily chart of this currency pair the dominant trend of the market is the descending trend which is weak. Considering the strong ascend of the price on 07.24.2012, this descending trend is like a reformation of the price. In this time frame, the price is surrounded by two resistance lines which are determined by the red and blue color which played their role very well for several times.
    Whenthe price reached the blue resistance line on 26th and 27th of April, it lost its power for more descending and fall, also this resistance lines prevent more descend movement of the market.
    Right now, there is a possibility for an ascendingmovement of the price and reaching the red resistance line. Also the Formationof a positive divergence between the price and RSA indicator empower this possibility.

    The most important resistance and supportive levels:

    R= 0.98990
    S= 0.98300

    Written by the technical team of FxGlory Brokerage

  6. #6


    Technical analysis of EUR/USD 07.05.2012

    As we predicted in our last technical analysis on EUR/USD, this currency pair started a descending trend from 1st of May and reached the minimum goal which was predicted by the analyzers for this trend.

    Right now, this currency pair is located in very important supportive levels which prevent more falling of the price. At this moment, there is a Hammer candle stick pattern in 4h time frame which shows that the seller are forces to retreat temporarily and also shows the price is going down.

    Please consider that, price is out of the selling area and some of the sellers tend to cash their positions. Also, It is possible that the price reform this descending trend partly.

    Written by the technical team of FxGlory Brokerage

  7. #7


    The technical analysis of USD/CHF 08.05.2012

    The ascending of the price of USD/CHF on 1st of May was under the influence of an ascending trend as we mentioned it in our former technical analysis. Right now, the price passed the resistance level which is determined in the below picture and it registered the new price 0.92653. After the registration of a new price, the buyers will start making cash their trades and finally this will cause the fall of the price. Afterthe fall, the price will be stopped in the change of polarity level (after breaking of the red resistance level becomesthe supportive line) which is determined by the blue color.

    Change of polarity level which right now is considered as the supportive line is playing its role very well. When the change of polarity line plays its role as a supportive line, it is helped by an ascending trend line. This ascending trend line, also, issued a warning of ascend and jump of price.

    Right now, these two elements are preventing the falling of the price and therefore, they create a bottom price in this area. As far as remaining of the price in this level (0.91945), we cannot expect ascending of the price to the 0.92500 level.

    Written by the technical team of FxGlory Brokerage

  8. #8


    Technical analysis of EUR/USD 09.05.2012

    As we mentioned in our previous analysis EUR/USD was located in saturation area of sell and according to our prediction the price started its ascending movement. Right now, this currency pair has reached the supportive levels which it was not able toreach these levels on 7th of May. We predict that as far as these supportive levels are preventing fall of the price, the buyers like to reach and even pass this supportive line which is determined by red color in the following picture.

    The price is in the situation of “ sellsaturation” and we expected that EUR/USD reforms its previous trend. If this reformation of the price could create a good gap between itself and the supportive levels, the price would start an ascend.In this moment, the sellers are waiting to see the reaction result of the price to these supportive levels.

    Written by the technical team of FxGlory Brokerage

  9. #9


    Technical analysis of USD/CHF 10.09.2012

    The USD/CHF currency pair is in an ascending trend right now. This ascending trend has been started on 1st of May from the third point. if the ascending trend line which we predicted in our last analysis about USD/CHF.

    At the present moment, the ascending trend is stopped and it is obvious that there is an important resistance level which you can see it in the below picture. This transformative level has been tested twice and it was successful to issue the warning of falling of the price. In the 4H time frame a top price is forming and between considering different candles which are located under the resistance level we can understand that there is a war between sellers and buyers which none of them are successful to win the battle.

    It is good to remember that in this time frame there is potentiality of descend of the price and formation of a reform in the price. In analyzing the 1h time frame there is a transformative level which plays the role of a supportive level and prevents the falling of the price. If the price breaks this line and passes it, it is possible that we see the descending trend and the reformation of the price.

    The most important resistance levels:

    R1= 0.93000

    R2= 0.93350

    Written by the technical team of FxGlory Brokerage

  10. #10


    Technical analysis of AUD/USD 11.05.2012

    The AUD/USD currency pair has been in a strong descending trend from 30th of April. Right now, this currency pair is got stuck in the ascending trend. In the weekly chart of this currency pair, you can draw a supportive level which is preventing the falling of the price by connecting two bottoms of the price.

    It is soon that we think this descending trend is finished and an ascending trend starts. But, by analyze of the daily and weekly charts we can find some signs of finishing of the descending trend and start of a reformation in the price.

    In picture number two, as you can see, there is a descending channel price which is reached to the supportive level and causes the formation of two important “Candle stick patterns”:
    • Inverted Hammer Pattern
    • Harami Pattern

    Both of these candle stick patterns issue the warning of “bottom price” and the possibility of an ascending from them which is the symbol of sellers’ failure. Moreover, the price is in the situation of saturation also the Stoch indicator confirms this and issues a signal for formation of a “bottom price” with its waves.

    On the whole, by considering the severe falling of the price and without a chance of reformation from 30th of April, we can expect an ascending in the price and reformation of the descending trend from this bottom price until the price reaches the 1.00209 level.

    The most important resistance and supportive levels:

    R2= 1.01411

    R1= 1.02234

    S= 1.00209

    Written by the technical team of FxGlory

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