FXGLORY Posted September 5, 2012 Author Report Share Posted September 5, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/2012.09.05.jpg FxGlory 2012.09.05 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 6, 2012 Author Report Share Posted September 6, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/2012.09.06-EURGBP.jpg FxGlory 2012.09.06 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 7, 2012 Author Report Share Posted September 7, 2012 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.  http://blog.fxglory.com/wp-content/uploads/2012/09/2012.09.07.jpg FxGlory 2012.09.07 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 10, 2012 Author Report Share Posted September 10, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/USDJPY-2012.09.10.jpg FxGlory 2012.09.10 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 12, 2012 Author Report Share Posted September 12, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/Untitled-11.jpg FxGlory 2012.09.12 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 13, 2012 Author Report Share Posted September 13, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/USDCAD-2012.09.13.jpg FxGlory 2012.09.13 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 17, 2012 Author Report Share Posted September 17, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/Untitled-13.jpg FxGlory 2012.09.17 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 18, 2012 Author Report Share Posted September 18, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/Untitled-14.jpg FxGlory 2012.09.18 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 19, 2012 Author Report Share Posted September 19, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/Untitled-15.jpg FxGlory 2012.09.19 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 20, 2012 Author Report Share Posted September 20, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/2012.09.20.jpg FxGlory 2012.09.20 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 24, 2012 Author Report Share Posted September 24, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/Gold-Chart-2012.09.25.jpg FxGlory 2012.09.24 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 25, 2012 Author Report Share Posted September 25, 2012 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. http://blog.fxglory.com/wp-content/uploads/2012/09/Untitled-16.jpg Fxglory 2012.09.25 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 27, 2012 Author Report Share Posted September 27, 2012 Technical analysis of GBP/CHF dated 27.09.2012 GBP/CHF with creating the bottom price of 1.49893 and recording of it by the next candles provided a situation for ascending. From the top price of 1.54656 to the bottom price of 1.49893, AB=CD harmonic pattern with ideal ratios of 76.4 and 127.2 is observable, which is one of the reasons for recent ascend. Right now the price reached to the descending trend line that is made of three peak prices. As it is obvious in the picture below, the formation of upper long shadows in ascending candles shows the cautious of the buyers and notice of traders to this descending trend line. Right now the price is testing it. The first sign of ascend in this currency pair is closing of ascending candles in daily time frame. According to the closing of candles in last week time frame, there is the possibility of the breakage of this trend line. stoch indicator is in saturation sell area and shows the possibility of ascend by the next cycle. Generally until the top price on the descending trend line is preserved (fourth point), there is the possibility of descending of the price during next days. http://blog.fxglory.com/wp-content/uploads/2012/09/GBPCHF-2012.09.27.jpg FxGlory 2012.09.27 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted September 28, 2012 Author Report Share Posted September 28, 2012 Technical analysis of USD/CHF dated 28.09.2012 As it was mentioned in previous technical analysis of USD/CHF dated 20.09.2012, according to the formed signs of that chart, there was the potential of ascending in price which finally the price ascends. The price during its ascend could record the resistance level of 194163 and right now is the important resistance level. The descending channel is drawn by the close points of candles. The top price is made under the conversion level (from support to resistance), and this conversion level is an important obstacle for ascending of price that prevented from the increase of the price twice. Stoch indicator is in the saturation sell area in daily time frame and shows descend of the price according to the next cycle, but it is not valid because of not being in the same direction of weekly time frame. Generally until the top price of 0.94163 is preserved, there is a potential of descend in this currency pair in daily time frame. http://blog.fxglory.com/wp-content/uploads/2012/09/Untitled-17.jpg FxGlory 2012.09.20 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 1, 2012 Author Report Share Posted October 1, 2012 Technical analysis of EUR/GBP dated 01.10.2012 EUR/GBP by making the top price of 0.81149 and closing the descending candle in the next day recorded it. As it was mentioned in previous technical analysis of this currency pair dated 18.09.2012, from this resistant level there can be downfall of the price. Right now the price by reaching to the ascending trend line (the formation of the third point of ascending trend line) has been stopped from more ascend. The third point on this ascending trend line is recorded on the level of 0.79230. As it is drawn in the picture below, in addition to the ascending trend line, there is other supportive line in this region. This line is made of three resistance points and after breaking of their level, it is converted to the supportive line, and show the possibility of formation of the bottom price in this region. The formation of candle patterns of Hammer and Inverted Hammer on ascending trend line and the alternate line shows the failure of the sellers for reaching to the lower price and the possibility of the formation of the bottom price for ascending of the price. Stoch indicator shows the possibility of ascend according to the next cycle during the next days. Generally according to the formed signs in the chart of EUR/GBP, until the bottom price of 0.79230 is preserved, there is the possibility of ascend in this currency pair. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-1.jpg FxGlory 2012.10.01 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 2, 2012 Author Report Share Posted October 2, 2012 Technical analysis of GBP/CHF dated 02.10.2012 GBP/CHF by making the bottom price of 1.49902 and fixing of it by the next candles, created the situation for ascending. From the top price of 1.54656 till the bottom price of 1.49902, there is the harmonic pattern of AB=CD with the ideal ratios of 76.4 and 127.2 which is one of the reasons for recent ascending of this currency pair. The price reached to the descending trend line which is made of four peak prices. Stoch indicator in daily time frame confirms the top price (the fourth point on descending trend line) in the chart. In daily time frame until the fourth point is preserved on this trend line, the price has the potential to descend during the next days. In 4H time frame the price made the fourth point on ascending trend line. Indicator shows ascending trend of the next candles in this time frame, but because of not being in the same direction of daily time frame it is not so valid. Generally breaking of ascending trend line is the first warning for more descend in this chart. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-11.jpg FxGlory 2012.10.02 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 3, 2012 Author Report Share Posted October 3, 2012 Technical analysis of AUD/USD dated 03.10.2012 In the previous technical analysis of this currency pair dated 17.09.2012, according to the technical signs there was the possibility of descending of price which finally happened. The price by reaching to the descending trend line has been stopped from more ascend and made the Shooting Star candle pattern and this shows the first warning for descending of the price. The price in it descending trend eliminated the ascending trend line, which is drawn with two supportive bottoms in the picture below, with descending powerful candle, and this shows power of buyers. The price in its recent downfall, tried to reach to the supportive levels which are drawn in the picture below. According to the condition of this currency pair, there is no clear reason for ascend. There is formation of recursive candle patterns or one ascending candle in daily chart which is the least acceptable sign for price reformation. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-12.jpg FxGlory 2012.10.03 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 4, 2012 Author Report Share Posted October 4, 2012 Technical analysis of EUR/USD dated 04.10.2012 EUR/USD during the recent ascend goes further from the bottom price of 1.20389 to the 1.31712 level, and with the formation of the Evening star candle pattern in 14th and 18th days , there is an important warning for descend and price formation which finally happened . The price by reaching to the conversion line during it’s descend has been stopped and made the bottom price on this line. This conversion line is made of four resistance peak and after breaking converted to a supportive line which affects the price. In monthly intervals of this currency pair, according to the formed signs, there is the potential for ascending of the price during the next months. Stoch indicator in daily time frame warns the possibility of ascending of the price according to the next cycle. Generally until the formed supportive bottom is on the level of 1.28021, the price has the potential of ascending till the level of 1.29690 and 1.31000 in the second stage. http://blog.fxglory.com/wp-content/uploads/2012/10/eurusd-2012.10.04.jpg FxGlory 2012.10.04 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 5, 2012 Author Report Share Posted October 5, 2012 Technical analysis of AUD/JPY dated 05.10.2012 AUD/JPY during descend from the top price of 83.076, by reaching to the ascending trend line has been stopped. As it is obvious in the picture below, the price in daily time frame is surrounded by ascending and descending trend line and that effect on the price. The price has made the bottom price on ascending trend line (fourth point) which with the formation of Hammer candlestick pattern, this bottom price is confirmed. And the formation of the long lower shadow on ascending trend line indicates the failure of the sellers for reaching to the lower price. Stoch indicator in daily time frame is in saturation sell area (and also in divergence mode with the price) warns the possibility of ascending of the price according to the next cycle during the next days. In 4H time frame of this currency pair, the price by reaching to the descending trend line has been stopped and has made the top price on the level of 80.635 and Stoch indicators confirms this matter and shows the possibility of decrease and descend of the price. The first warning for increase and ascend of price is the formation of a bottom price in 4H time frame and the most important warning is , breaking of the descending trend line and closing of ascending candles on this line. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-13.jpg FxGlory 2012.10.05 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 8, 2012 Author Report Share Posted October 8, 2012 Technical analysis of Gold dated 08.10.2012 The price of gold has increased and it has gone up to its important resistance range by making the supportive bottom of 1526.85 on determined supportive levels in the picture below. Right now the price of gold has been stopped by reaching to its resistance range which is made of 1804.62 and 1790.99 levels and has made a top price in 1795.66 level. Right now the price is in Divergence mode with the RSI indicator and this shows the possibility of a price decrease during the next days. In weekly time frame, the price by making a sort of candles (for example Doji) shows that gold is on a top price, and warns about being of gold in a peak price. Stoch indicator is in saturation sell area in this time frame and shows the possibility of decrease and descends of the price according to the next cycle. Generally until the top price of 1795.66 is preserved, the price has the potential to descend. http://blog.fxglory.com/wp-content/uploads/2012/10/Gold-2012.10.08.jpg FxGlory 2012.10.08 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 9, 2012 Author Report Share Posted October 9, 2012 Technical analysis of AUD/USD dated 09.10.2012 As it was mentioned in the previous analysis of this currency pair dated 03.10.2012, the price continued its descending and finally have reached to the supportive level. Right now the price has been stopped by reaching to the supportive region and has recorded the bottom price of 1.06230 by making the ascending candle which is obvious in the picture below. Closing of ascending candle in 18th shows temporary failure of the sellers in reaching to the lower price but it doesn’t cause they stop their sell because in weekly time frame of this currency pair there is no clear sign for ascending of the price. From the top price of 1.06230 till the bottom price of 1.01474, there is AB=CD harmonic pattern with the ideal ratios of 50 to 200 which there is a warning for ascending of the price with the completion of D point in this pattern. Stoch indicator is in saturation sell area and shows the possibility of ascend according to the next cycle during the next days. Generally until the bottom price of 1.01474 is preserved, the price has the potential to ascend in this currency pair. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-14.jpg FxGlory 2012.10.09 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 10, 2012 Author Report Share Posted October 10, 2012 Technical analysis of USD/CHF dated 10.10.2012 USD/CHF started to ascend from the bottom price of 0.92368 and right now have reached to the descending trend line which is drawn in daily time frame. This descending trend line is made of three peak prices and it is an obstacle for ascending of the price as it is obvious in the picture below. According to the formation of the bottom price on the 5th day and its record on the level of 0.92757, the field for breaking this trend line has been provided. Closing of ascending candle at the end of the day is the first warning for more ascend in this currency pair. Stoch indicator is in saturation sell area and shows the possibility of ascend according to the next cycle in daily and weekly time frames. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-15.jpg FxGlory 2012.10.10 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 11, 2012 Author Report Share Posted October 11, 2012 Technical analysis of GBP/ USD dated 11.10.2012 The price of GBP/ USD dated 21.09.2012 on the level of 1.63083 stopped ascending by making three peak prices and started a downfall. Right now the price ascends by making and recording the bottom price on the level of 1.59759. In daily time frame this currency pair on the 10th day by the formation of candle with small body and long shadows shows the preparation of market for changing of trend direction.In 4H time frame as it is obvious in the picture below , there is AB=CD harmonic pattern with the 61.8 and 161.8 ratio which the D point in this pattern shows the completion and warns the ascend of price.RSE indicator is in divergence mode with the price and shows the possibility of ascending of price. Generally until the bottom price of 1.59759 is preserved, the price has the potential to ascend. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-16.jpg FxGlory 2012.10.11 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 12, 2012 Author Report Share Posted October 12, 2012 Technical analysis of EUR/AUD dated 12.10.2012 EUR/AUD by making a top price starts to descend on 8th day. Right now this currency pair has been stopped by reaching to the determined supportive region in the chart below and the sellers could not reach to the lower prices. In daily time frame on 11th day, a hammer candle pattern is made on the ascending trend line (the fourth point on ascending trend line) which warns about the formation of a bottom price and the end of descending.As it is obvious in the picture below, right now the conversion level (from resistance to supportive) supports the bottom price on the level of 1.25032. This bottom price is on the Fibonacci level of 23.6 (from 1.16013 to 1.28204 levels) and there is the possibility of starting a price reformation on this level. Generally according to the daily time frame the descending trend has been stopped and a bottom price has been made and until the supportive level of 1.25032 is preserved, the price has the potential to increase and ascend in this currency pair. http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-17.jpg FxGlory 2012.10.12 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted October 15, 2012 Author Report Share Posted October 15, 2012 Technical analysis of USD/CAD dated 15.10.2012 USD/CAD from the start of previous week was in a neutral trend and didn’t have a powerful movement and it swings in the range of 90 pips. Right now the price is in the descending channel in daily time frame which has shown in several cases the correct operation. When the price for the first time reaches to descending trend line channel is not able to pass through it and eventually was forced to drop but this downfall was temporary and small. Right now in this currency pair there is a bottom price on the level of 0.97346 and the price for several times tends to be in descending trend line. Now the most important resistance level in front of the is descending trend line and closing of ascending candles on this line is the first warning for more ascend in this currency pair. Generally until the price is in this descending channel, there is the possibility of touching the bottom price of 0.97346 and breaking of it.  http://blog.fxglory.com/wp-content/uploads/2012/10/Untitled-18.jpg FxGlory 2012.10.15 Quote Link to comment Share on other sites More sharing options...
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