FXGLORY Posted July 25, 2012 Author Report Share Posted July 25, 2012 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. Doji Pattern Hanging man Pattern 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. http://blog.fxglory.com/wp-content/uploads/2012/07/USDCAD-2012.07.25.jpg FxGlory 2012.07.25 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted July 25, 2012 Author Report Share Posted July 25, 2012 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. Doji Pattern Hanging man Pattern 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. http://blog.fxglory.com/wp-content/uploads/2012/07/USDCAD-2012.07.25.jpg FxGlory 2012.07.25 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted July 26, 2012 Author Report Share Posted July 26, 2012 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 trend’s 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 trend’s lien in weekly time frame. If this falling trend continues, the next important goal is the trend’s 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 trend’s line.http://blog.fxglory.com/wp-content/uploads/2012/07/2012.07.26-NZDUSD.jpg FxGlory 2012.07.26 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted July 27, 2012 Author Report Share Posted July 27, 2012 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 trend’s line is broken and the price passed it. http://blog.fxglory.com/wp-content/uploads/2012/07/Untitled-11.jpg FxGlory 2012.07.27 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted July 30, 2012 Author Report Share Posted July 30, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/07/Untitled-12.jpg FxGlory 2012.07.30 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted July 31, 2012 Author Report Share Posted July 31, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/07/Untitled-13.jpg FxGlory 2012.07.31 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 1, 2012 Author Report Share Posted August 1, 2012 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 trend’s 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 trend’s line would increase. In the daily time frame, the price has ascended from the formed bottom price, 78.361, of the ascending trend’s line and it was stopped by reaching the red descending trend’s line. However, due to closing of the ascending candle in the last week, and possibility of ascend of the price from ascending trend’s 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 trend’s line and pass it. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-1.jpg FxGlory 2012.08.01 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 2, 2012 Author Report Share Posted August 2, 2012 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 trend’s 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. http://blog.fxglory.com/wp-content/uploads/2012/08/2012.08.02-AUDUSD.jpg FxGlory 2012.08.02 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 3, 2012 Author Report Share Posted August 3, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-11.jpg FxGlory 2012.08.03 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 6, 2012 Author Report Share Posted August 6, 2012 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 traders’ 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. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-12.jpg FxGlory 2012.08.06 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 7, 2012 Author Report Share Posted August 7, 2012 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 trend’s line and resistance trend’s 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. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-13.jpg FxGlory 2012.08.07 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 8, 2012 Author Report Share Posted August 8, 2012 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 sellers’ 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. http://blog.fxglory.com/wp-content/uploads/2012/08/2012.08.08.jpg FxGlory 2012.08.08 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 9, 2012 Author Report Share Posted August 9, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/2012.08.09-EURAUD.jpg FxGlory 2012.08.09 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 10, 2012 Author Report Share Posted August 10, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-14.jpg FxGlory 2012.08.10 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 14, 2012 Author Report Share Posted August 14, 2012 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 trend’s 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. http://blog.fxglory.com/wp-content/uploads/2012/08/2012.08.13.jpg FxGlory 2012.08.13 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 14, 2012 Author Report Share Posted August 14, 2012 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 resistance’s 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 resistance’s 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 ascending’s trend line in the first stage. In the weekly time frame, the previous week’s 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 trend’s 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 trend’s line. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-15.jpg FxGlory 2012.08.14 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 15, 2012 Author Report Share Posted August 15, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-16.jpg FxGlory 2012.08.15 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 16, 2012 Author Report Share Posted August 16, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/EURJPY2-2012.08.16.jpg FxGlory 2012.08.16 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 20, 2012 Author Report Share Posted August 20, 2012 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 couldn’t 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 didn’t 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. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-2.jpg FxGlory 2012.08.20 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 22, 2012 Author Report Share Posted August 22, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/2012.08.22-usdjpy.jpg FxGlory 2012.08.22 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 27, 2012 Author Report Share Posted August 27, 2012 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 trend’s line. The formed candle on the descending trend’s 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. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-17.jpg [/b]FxGlory[/b] Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 28, 2012 Author Report Share Posted August 28, 2012 Technical analysis of gold 08.28.2012 Gold has started a strong ascending movement during this week it has registered the resistance level of 1676.96. As you can see in the below picture, the price is located in a ascending channel. The resistance edge of the channel prevents ascend of the price and the forward movement of the buyers. This edge has done its responsibility in preventing more ascend of the price successfully on 23th, 24th, and 27th. on 24th, by formation of the Doji candle in the daily time frame, the uncertainty of the market for ascending or descending was confirmed which finally caused the defeat of the buyers to get the higher prices. To start the next ascending trend we need formation of a bottom price in the 4h time frame and then its stabling and finally breaking of the resistance level of 1655.70 and then 1676.96. http://blog.fxglory.com/wp-content/uploads/2012/08/Untitled-18.jpg FxGlory 2012.08.28 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 29, 2012 Author Report Share Posted August 29, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/EURCHF-2012.08.29.jpg FxGlory 2012.08.29 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted August 31, 2012 Author Report Share Posted August 31, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/08/USDCAD-2012.08.30.jpg FxGlory 2012.08.30 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 3, 2012 Author Report Share Posted September 3, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/Untitled-1.jpg FxGlory 2012.09.03 Quote Link to comment Share on other sites More sharing options...
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