FXGLORY Posted January 28, 2013 Author Report Share Posted January 28, 2013 Technical analysis of CAD/JPY dated 28.01.2013 CAD/JPY during the recent weeks could ascend without reformation and record the top price of 91.429. Right now this is one of the most important resistance levels in front of price and by breaking of this level; there is the possibility of ascending up to the resistance level of 94.000. According to the two candles in previous week the price appears as a Hanging Man candlestick pattern that there is the possibility of formation of the top price and vulnerability of ascending trend .there is a need for closing of a descending candle during this week to confirm this event.As it is obvious in the picture below, according to the formed movements , the AB=CD harmonic pattern with the ratios of 78.6 and 161.8 is formed and by completing the D point of this pattern, there is a warning for descending in this currency pair. Stoch indicator in weekly time frame is in saturation sell area and warns the possibility of stopping of the ascending trend by the next cycle. Generally until the top price of 91.429 is preserved, the price has the potential for descending and reformation. http://blog.fxglory.com/wp-content/uploads/2013/01/CADJPY-2013.01.28.jpg FxGlory 2013.01.28 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted January 30, 2013 Author Report Share Posted January 30, 2013 Technical analysis of EUR/GBP dated 30.01.2013 As it was mentioned in the previous analysis of this currency pair on 23.11.2012, according to the formed signs there was the potential for increase of price which finally happened. EUR/GBP from 23.07.2012 had a strong ascend and could record the top price of 0.85843 (right now the price has been stopped by reaching to the Fibonacci level of 61.8). As it is obvious in the picture below, from the bottom price of 0.79592 till now there was a strong and without reformation ascend and there is a warning for price reformation and ceasing of the price ascends in the market. According to the formed movement in the price chart , there is AB=CD harmonic pattern between the bottom price of 0.77612 and top price of 0.85843 with the ideal ratios of 50 to 200 and by completing the D point of this pattern there is the possibility for formation of a top price. In the range of the D point, there is a Hanging Man candlestick pattern which is not a good sign for the buyers and continue of ascending trend.RSI indicator is in saturation buy area and warns the formation of a top price and descend of price in this range. According to this point in weekly chart there is not a clear reason for descending of the price and by breaking of the top price of 0.85843, the price will have the potential for increase and ascend during the next days. http://blog.fxglory.com/wp-content/uploads/2013/01/Untitled-1.png FxGlory 2013.01.30 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted January 31, 2013 Author Report Share Posted January 31, 2013 Technical analysis of GBP/USD dated 31.01.2013 GBP/USD during its descend from the top price of 1.63810 had a great downfall and recorded the bottom price of 1.56738. The price during its ascend from the bottom price of 1.56738 of could pass the descending trend line and is above 5-day moving average that generally warns more ascending. The formed bottom price is in 127.2 supportive Fibonacci level and right now is one of the most important supportive levels in front of price. As it is obvious in the picture below, price is in divergence mode with the MACD indicator and there is a possibility of price change in this chart. Right now the bottom price of 1.56738 is supported by an important ascending trend line dating back to 2009. This bottom price is the 6th point of this ascending trend line and by fixing of this point there is a possibility of changing in price direction during the next weeks. Generally according to the mentioned signs until the ascending trend line is preserved for a long time, the price has the potential for ascending in this currency pair. http://blog.fxglory.com/wp-content/uploads/2013/01/Untitled-11.png FxGlory 2013.01.31 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 1, 2013 Author Report Share Posted February 1, 2013 Technical analysis of USDSGD dated 01.02.2013 USDSGD from 2001 was in a great descending trend and could record the bottom price of 1.19914. With the formation of this bottom price on Fibonacci level of 161.8, the field is prepared for the formation of a successful bottom price and ascends. As it is shown in the picture below, according to the formed movements the price is in divergence mode with the RSI indicator and warns about the formation of a bottom price and change in price direction. With the formation of the bottom price of 1.21489 and closing of price above 5- day moving average and there is the possibility of long term ascending in this currency pair. Stoch indicator in this time frame confirms this bottom price according to the next cycle. In the mentioned bottom price there is an important Morning Star candlestick pattern which is formed from 3 star candles and warns the possibility of increasing of the price. According to the mentioned signs until this bottom price is preserved, there is the potential for price increase and reformation in this currency pair. http://blog.fxglory.com/wp-content/uploads/2013/02/USDSGD-2013.02.01.png FxGlory 2013.02.01 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 4, 2013 Author Report Share Posted February 4, 2013 Technical analysis of USD/CHF dated 04.02.2013 USD/CHF during the previous week had a descending trend that could record the bottom price of 0.90204. Right now the price is below 5-day moving average in daily time frame which shows a strong descending trend. In the last day of previous week, the price by reaching to the supportive line and level of 0.90423 (as it is shown in the picture below, it is made of two bottom prices) has been stopped from more descend and the sellers cannot reach to the lower prices. With the formation of a hammer pattern, there is a warning for formation of a bottom price and changing direction in the chart but closing of the ascending candle at the end of day is necessary for attention to this signal.Stoch indicator is in saturation sell area in daily time frame that shows a strong descending trend but generally according to the next cycle, there is the possibility of price reformation. If the 0.90204 price level breaks, there will be important supportive levels of 0.90000 and 0.89316 that the price is able to reach them. Among these two supportive levels, the level of 0.90000 has a special importance for traders because of being rounded. http://blog.fxglory.com/wp-content/uploads/2013/02/USDCHF-2013.02.04.jpg FxGlory 2013.02.04 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 5, 2013 Author Report Share Posted February 5, 2013 Technical analysis of EUR/CHF dated 05.02.2013 EUR/CHF during its strong ascend ( from 10.01.2013 to 18.01.2013) by reaching to the previous resistance level in 1.24672 range, after testing it to break and passing of it by buyers twice ,the price could not pass this resistance level and faced a downfall. The price could record the top price of 1.25673 which is one of the most important resistance levels in front of price. By fixing of this top price with the next descending candles, the price reforms and descends. Also it could record the bottom price of 1.22565. Right now the price has been stopped by reaching to the supportive edge of descending channel and in 4H time frame has been made two candles with small body which shows indecision market to ascend or descend. Between the top price of 1.25673 and bottom price of 1.22565, there is AB=CD harmonic pattern with the ratios of 76.4 and 127.2 that with completing the D point of this pattern there is a warning for ascending from the supportive edge of descending channel. RSI indicator is in saturation sell area and warns the formation of a bottom price in the next stage of ascends. Generally according to the formed signs until the supportive edge is preserved, the price has the potential for ascending and continuing its previous trend. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-1.jpg FxGlory 2013.02.05 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 6, 2013 Author Report Share Posted February 6, 2013 Technical analysis of GBP/CHF dated 06.02.2013 GBP/CHF during the past two weeks had a strong descending trend without reformation and could record the bottom price of 1.41815. The price by reaching to the determined supportive levels could not pass of them and they prevented the price downfall. The price had a downfall from the top price of 1.50016 that seems some of the sellers try to withdraw the profit of their trades and leave the market. Formation of a strong ascending candle in 4H time frame (8:00) confirms this matter. According to the recent ascending trend the price could break the descending trend line (that prevented ascending of price three times) and it is a warning for changing price direction. RSE indicator is saturation sell area in daily time frame and in 4H time frame is in divergence mode with the price chart and warns the potential of changing price direction. Generally until the price level of 0.41753 is preserved, the price has the potential for reformation in this currency pair. http://blog.fxglory.com/wp-content/uploads/2013/02/GBPCHF-2013.02.06.jpg FxGlory 2013.02.06 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 7, 2013 Author Report Share Posted February 7, 2013 Technical analysis of AUD/NZD dated 07.02.2013 AUD/NZD is in long term interval of a descending trend and could record the bottom price of 1.22196. By breaking this level the price will find the ability to reach the important supportive level of 1.21000. Yesterday candle with a small body shows indecision market to ascend or descend and this is a warning for sellers in changing price direction (it is a need for confirmation of other factors). Between the top price of 1.30727 and the bottom price of 1.22196 there is a non-ideal AB=CD harmonic pattern with the ratios of 61.8 and 127.2 that with completing the D point of this pattern, there is a warning for ascending of the price. An interesting point is the formation of a butterfly pattern inside the AB=CD pattern that simultaneously shows changing of price direction. RSI indicator is in saturation sell area that supports the price level of 1.22196 and generally warns about changing of price direction. According to the formed signs until the price level of 1.22196 is preserved, the price has the potential for ascending and reforming of the previous descending trend in this range. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-11.jpg FxGlory 2013.02.07 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 8, 2013 Author Report Share Posted February 8, 2013 Technical analysis of AUD/JPY dated 08.02.2013 AUD/JPY from 09.10.2012 had a strong ascending trend with little reformation that shows the decision of buyers in reaching to the long term targets. This currency pair during its movement could record the top price of 97.419. The price by reaching to the psychic level of 97.000 could not pass it and retreated which the usage ability of this level can be seen in 1H time frame. As it is obvious in the picture below, between the bottom price of 71.993 and the top price of 97.419, there is AB=CD harmonic pattern with the ratios of 78.6 and 161.8 that the D point of this pattern is completed and warns about descending of the price.RSI indicator confirms the mentioned top price and it is in saturation buy area and also by being in divergence mode with the price chart warns about the price changing direction. Until the top price of 97.419 is preserved, the price has the potential for reformation of ascending trend. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-12.jpg FxGlory 2013.02.08 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 11, 2013 Author Report Share Posted February 11, 2013 Technical analysis of AUD/USD dated 11.02.2013 AUD/USD during its ascend from the bottom price of 0.95727 could record the top price of 1.05981 and stopped after testing the next resistance levels. As it is obvious in the picture below, the price by reaching to the descending trend line could not pass it and the buyers retreated. Generally this descending trend line could prevent the price ascending and increase twice. After formation of the 4th point of descending trend line, the price has a downfall and it is under 5-day moving average.According to the recent downfall the 4th top price on the descending trend line shows that the price can reach to the lower price so one of the price targets will be the supportive level of 1.01400. According to the Stoch indicator in daily and weekly time frames, the potential for descending of price and the top price of 1.05981 has been confirmed. Generally until the 4th point of descending trend line is preserved, there is a possibility for descending during the next weeks. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-13.jpg FxGlory 2013.02.11 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 12, 2013 Author Report Share Posted February 12, 2013 Technical analysis of EUR/USD dated 12.02.2013 EUR/USD during its ascend from the bottom price of 1.26546 could record the top price of 1.37066. This currency pair by reaching to the obstacle such as the Fibonacci level of 200 (resistance level) and the round price level of 1.37000 has been descended. Right now the top price of the top price of 1.37066 is fixed by the previous week descending candles and if this resistance level breaks, there will be the potential for ascending trend in this pair. As it is obvious in the picture below, in the mentioned top price, there is a Engulfing candlestick pattern which is a sign for overcoming the pressure of sell to buy and a warning for ending of the ascending trend. Between the bottom price of 1.20416 and the top price of 1.37066 there AB=CD harmonic pattern with non ideal ratios that by completing the D point there is a warning for changing in price direction. Stoch indicator is in saturation buy area and shows the possibility of descending of the price according to the next cycle. In daily time frame of this currency pair the bottom price of 1.33514 is formed that by breaking of this level, there is first warning for more descend. Generally according to the formed signs in weekly time frame, until the top price of 1.37066 is preserved, the price has the potential for reformation. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-14.jpg FxGlory 2013.02.12 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 14, 2013 Author Report Share Posted February 14, 2013 Technical analysis of GBP/JPY dated 14.02.2013 GBP/JPY had a great ascending trend without reformation from B bottom price in the level of 118.804 and could record the top price of 148.000. Right now the price by reaching to the resistance Fibonacci level of 200 also resistance round level of 148.000 has been stopped from more ascend and formed a top price which is fixed by previous descending candles in daily time frame. In the range of formed top price there are Hanging Man and Doji candlestick pattern that shows the possibility for formation of a successful top price in continuing descending trend. According to the formed movements RSI indicator is in divergence mode with the price that warns the changing of price direction.Right now the price during its downfall by reaching to the supportive round level of 145.000 has reacted to it and buyers overcome sellers also it caused the formation of hammer candlestick pattern in 4H time frame. The first warning for more descend is breaking of this supportive level. Generally until the top price of 148.000 is preserved, there is a potential for price reformation in this currency pair. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-15.jpg FxGlory 2013.02.14 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 15, 2013 Author Report Share Posted February 15, 2013 Technical analysis of GBP/CHF dated 15.02.2013 As it was mentioned in the previous analysis of this currency pair dated 06.02.2013 according to the formed signs there was the possibility of the price ascending which finally happened and it could record the top price of 1.45342 during its ascending. Price during the buyers retreating and downfall from the mentioned top price could record the bottom price of 1.42301 which is fixed by the next ascending candles and had an ascending trend. In daily time frame of the previous day, the Inverted Hammer pattern was formed which shows the possibility for formation of a bottom price and price ascending. As it is obvious in the picture below, by breaking of the descending trend line (with three top prices) and converting of it to the supportive level in 1H time frame, there is a warning for ascending of the price. According to the formed signs in the chart and the potential of this currency pair in reforming of the recent strong descends, until the bottom price of 1. 42301 is preserved, price has the potential for increasing and ascending in this currency pair. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-1.png FxGlory 2013.02.15 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 18, 2013 Author Report Share Posted February 18, 2013 Technical analysis of EUR/USD dated 18.02.2013 EUR/USD During its ascending trend by reaching to the Fibonacci level of 200 and recording the top price of 1.37086 has been stopped from more ascending. Right now the price is under 5-day moving average in daily time frame and warns the potential for descending of the price. In weekly time frame of this currency pair in the top price of 1.37086, there is a Engulfing candlestick pattern that shows the formation of a top price and sellers overcome buyers.Stoch indicator is in saturation buy area in weekly time frame and warns the potential for decreasing of the price according to the next cycle. As it is obvious in the picture below if the price descends, one of the price targets will be the drawn ascending trend line. Right now the first important warning for more descending of price in this currency pair happens by breaking f the 1.33046 level in daily time frame. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-16.jpg FxGlory 2013.02.18 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 19, 2013 Author Report Share Posted February 19, 2013 Technical analysis of USD/JPY dated 19.02.2013 USD/JPY from 12.09.2012 (formation of ascending trend third point) is in a strong and without reformation ascending trend that could experience a good price growth. Right now this currency pair could record the top price of 94.446 during its ascending trend that according to the formation of recent candles, it is not an ideal top price for descending. In daily time frame the price has been stopped by touching the resistance level and the buyers could not reach to the higher prices.RSI indicator is in divergence mode with the price chart that warns the possibility of changing price direction. In weekly time frame Stoch indicator is in saturation buy area and warns the possibility of price reformation according to the next cycle. Closing of recent weekly descending candle or formation of one of the important candlestick patterns is a good reason for confirming the descending signal by Stoch indicator in weekly time frame. Generally according to the strong and without reformation ascending trend in this currency pair, the price has the potential for downfall until the top price of 94.446 is preserved. http://blog.fxglory.com/wp-content/uploads/2013/02/USDJPY-2013.02.jpg FxGlory 2013.02.19 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 20, 2013 Author Report Share Posted February 20, 2013 Technical analysis of GBP/USD dated 20.02.2013 GBP/USD from 20.12.2012 began to descend by forming a top price. Due to the technical signs selling pressure of sellers is tangible and there is not a clear reason for reformation and ascending of the price in long term time frames. The price during the descending trend could record the bottom price of 1.54142 which is the nearest level to one of the supportive level in the chart. As it is obvious in the picture below, the price its descending trend could pass the long term ascending trend line which is made of 4 bottom prices and warns about descending of the price.Sellers in midterm outlook try to get the supportive level of 1.53900 and for the next stage, the important level of 1.53000 and these two supportive levels are the possible targets of price downfall. Stoch indicator in monthly time frame shows the possibility of descending of the price according to the next cycle. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-17.jpg FxGlory 2013.02.20 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 21, 2013 Author Report Share Posted February 21, 2013 Technical analysis of NZD/USD dated 21.02.2013 NZD/USD in daily time frame is in ascending trend and could record the top price of 0.85321. The price has faced a downfall after this top price and has reached to the ascending trend line which is made of 6 bottom prices and prevents from more decrease of price, and with formation of a bottom price provides a field for ascending. According to the daily and weekly time frame of this currency pair, sellers selling pressure is tangible and the price has a good potential for breaking of the ascending trend line. As it is obvious in the picture bellow, according to the formed signs, there is Bat harmonic pattern that completing the D point is a warning for ascend of price. Stoch indicator in 4H time frame is in saturation sell area and warns the possibility of ascending of the price according to the next cycles. According to the case that this signal is against the daily and weekly time frame, it does not have a high value. Generally until the formed bottom price on ascending trend line and D point of Bat harmonic pattern is preserved, there is the possibility of increase and ascend of price , and if the descending candle closes on the ascending trend line, there will be the potential for more descending of the price. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-18.jpg FxGlory 2013.02.21 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 26, 2013 Author Report Share Posted February 26, 2013 Technical analysis of Silver date 26.02.2013 As it was mentioned in the previous analysis of Silver on 2013.01.10, according to the formed signs, there was the bullish potential which finally happened .The price was able to touch lowest supportive level of 28.29 during its bearish trend and This price was recorded by the bullish candles on 22 & 25th day .As it shown in figure bellow ,Between the High price of 35.37 and the Low price of 28.29 there is Three Drives Pattern harmonic pattern with ideal ratios that by completing the third point ,bearing trend signal is invisible.RSI indicator is in saturation sell area follows the bottom price of 28.29 and warns the possibility of bullish trend during the next days.Formation of a candle with small body and a Spinning Top candlestick pattern(21th and 22th) shows the indecision of market for ascending or descending and warns the formation of a lowest price in this area.Right now the first important warning for more ascending of price in this pair happens by breaking out the 29.25 level in daily time frame .Generally until the low price of 28.29 is respected, the price has the potential for be bullish from the harmonic pattern. http://blog.fxglory.com/wp-content/uploads/2013/02/Silver-2013.02.26.jpg FxGlory 2013.02.26 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted February 27, 2013 Author Report Share Posted February 27, 2013 Technical analysis of USD/CAD dated 27.02.2013 Since 14.01.2013 USDCAD had a strong Bullish trend with little reformation that shows the decision of buyers in reaching to the long term targets. This currency pair during its movement could touch the top price of 1.01318 .The price by reaching to the psychic level of 1.03000 could not pass it and retreated which the usage ability of this level can be seen in M15 time frame. According to the formed movement in the price chart , there is AB=CD harmonic pattern between the low price of 0.96320 and high price of 1.03018 with the ideal ratios of 50 to 200 and by completing the D point of this pattern there is the possibility for formation of a high price.Stoch indicator in Daily time frame is in saturation Buy area and warns the possibility of stopping of the bullish trend by the next cycle. If the candle formed a bearish shape , there will be the high price of 1.03018 . With the formation of a Doji pattern, there is a warning for formation of a Top price and changing direction in the chart but closing of the bearish candle at the end of day is necessary for attention to this signal. Generally until the Level price of 1.03018 is preserved, the price has the potential for descending and reformation. http://blog.fxglory.com/wp-content/uploads/2013/02/Untitled-19.jpg FxGlory 2013.02.27 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted March 1, 2013 Author Report Share Posted March 1, 2013 (edited) Technical analysis of GBPUSD dated 01.03.2013 GBPUSD during the recent weeks could descend without reformation and record the Bottom price of 1.50726.Right now the mentioned bottom price is recorded by the next ascending candle and is one of the most important supportive levels in front of price. As it is shown in the picture below, In the daily time frame, the descending trend of the price has been stopped when the price reached the blue supportive line and it formed the Fourth bottom price on this line. In 4H time frame , according to the formed movements the price is in divergence mode with the RSI indicator and warns about the formation of a bottom price and change in price direction. Also in daily time frame of 24th, the Counterrettack line pattern was formed which shows the possibility for formation of a bottom price and price ascending. As it is obvious in the picture below, by breaking of the descending trend line (with SIX top prices) and converting of it to the supportive level in 1H time frame, there is a warning for ascending of the price.RSI indicator is in saturation sell area follows the bottom price of 1.50726 and warns the possibility of ascending during the next days.(In the Daily time frame). According to this point, this currency pair has experienced the strong descending trend in the past and also mentioned signs until this bottom price is preserved, there is the potential for price increase and reformation in this currency pair. http://blog.fxglory.com/wp-content/uploads/2013/03/GBPUSD-2013.02.28.jpg FxGlory 2013.03.01 Edited March 1, 2013 by FXGLORY Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted March 4, 2013 Author Report Share Posted March 4, 2013 Technical analysis of NZD/USD dated 04.03.2013 NZD/USD on 28.02.2013 during testing of a resistance level (made of 3 peak price) was not successful and finally descended. As it is obvious in the picture below, the price during its descend by Surmounting the supportive line (made of 2 bottom price) uses it as a resistance level and descends. Right now the price is under 5-day moving average and surmounts the supportive level of 0.82225 that shows the possibility of more descends in this currency pair. In weekly and monthly time frames, there is not a clear reason for ascending of the price and by the type of forming candles; there is the possibility of forming a top price. Stoch indicator in weekly and monthly time frames is in descending cycle and warns the possibility of more descend in long term time frame. One of the important warnings for more descend in this currency pair is breaking and closing the descending candles under the 0.81910 level( this price level is protected by two important harmonic patterns and there is the potential for ascending of the price in this range that normally the buyers try to increase the price in this level). Generally the first sign for ascending of the price is formation of a bottom price and recording of it in daily time frame. http://blog.fxglory.com/wp-content/uploads/2013/03/NZDUSD-2013.03.04.jpg FxGlory 2013.03.04 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted March 5, 2013 Author Report Share Posted March 5, 2013 Technical analysis of AUD/USD dated 05.03.2013 AUD/USD on 01.06.2012 by creating the ideal bottom price (formation of hammer candlestick pattern) has started to ascend and could record the top price of 1.06234. As it is obvious in the picture below, the price in this currency pair is fluctuating in supportive and resistance level range that generally these levels acted successfully for 6 times. Right now the price by a downfall from the red resistance level has recorded the bottom price of 1.01150. The mentioned bottom price by facing the supportive channel edge and the blue supportive level has been stopped from more downfalls and finally has been ascended and has been reached to the resistance descending channel edge. In daily time frame of previous day the ideal hammer candlestick pattern is seen that has long lower shadow and cause the failure of sellers in reaching to the lower price and possibility of formation of a bottom price in this range. By fixing of hammer candlestick pattern’s warning (closing of ascending candle at the end of the day) there is a possibility for ascending of price. According to the strong ascend of the price from the bottom price of 1.01150 to the resistance descending channel edge; there is the potential for price reformation in the chart. If the important blue supportive range breaks, the next important target for the sellers is the round level of 1.00000. http://blog.fxglory.com/wp-content/uploads/2013/03/2013.03.05.jpg FxGlory 2013.03.05 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted March 6, 2013 Author Report Share Posted March 6, 2013 Technical analysis of EUR/GBP dated 06.03.13 EUR/GBP during the recent weeks had a strong ascending trend and could record the top price of 0.88132. Right now the mentioned top price is one of the most important and nearest resistance level in front of the price that by breaking of it, the price finds the potential to reach the important resistance level of 0.90000. The price during its ascending trend by reaching to the descending resistance channel edge has been stopped and has made a top price that according to the formed candles is fixed. As it is obvious in the picture below (in daily time frame), the mentioned top price is in 76.4 Fibonacci level that there is the possibility of price reformation according to Fibonacci levels’ properties. In weekly time frame, Stoch indicator is in saturation buy area and in descending cycle also warns the possibility of descending of the next candles. According to the type of previous week formed descending candles, there is a Dark cloud Cover candlestick pattern that warns stopping of ascending trend to the buyers. The first warning for descending in this currency pair is breaking of the supportive level of 0.85749. Generally until the resistance level of 0.88132 on resistance descending channel is preserved, the price has the potential for reformation and descends in this currency pair. http://blog.fxglory.com/wp-content/uploads/2013/03/2013.03.06-EURGBP.jpg FxGlory 2013.03.06 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted March 7, 2013 Author Report Share Posted March 7, 2013 Technical analysis of Gold dated 07.03.2013 The price in Gold chart on 20.09.2013 is between two important supportive and resistance levels which were successful and prevented passing of price from their own price level. The price could record the bottom price of 1555.77 during its downfall and this bottom price is fixed by the next ascending candles and if this supportive level breaks, the price will have the potential for a downfall and reaching to the important supportive level of 1530.73. As it is obvious in the picture below, between the top price of 1754.26 and the bottom price of 1555.77 there is an ideal AB=CD harmonic pattern that from the D point of this pattern, there is a warning for ascending of price during the next days.Stoch indicator confirms the created bottom price in daily time frame and warns about ascending in the next candles according to the next cycle. According to the closing of previous candles in weekly time frame, there is a Inverted Hammer candlestick patterns that warns the possibility of price changing direction and formation of a bottom price in this price range. One of the warnings for ascending of the price is breaking of the resistance level in 30 minutes time frame. Generally until the bottom price of 1555.77 in daily time frame is preserved, there is the possibility of increase and ascend in Gold chart. http://blog.fxglory.com/wp-content/uploads/2013/03/2013.03.07-GOLD.jpg FxGlory 2013.03.07 Quote Link to comment Share on other sites More sharing options...
FXGLORY Posted March 8, 2013 Author Report Share Posted March 8, 2013 Technical analysis of EUR/JPY dated 08.03.2013 EUR/JPY from the price level of 94.123 was in an ascending trend and could ascend without price reformation during this trend that shows the certainty of buyers in reaching to the pre-determined target price (this was mentioned in technical analysis of 16.08.2012). Right now the price descends from the top price of 127.661 and has recorded the bottom price of 118.735 that it can be a possibility for ascending of the price. The price in weekly, daily, 4H and 1H time frame is above 5-day moving average that shows an ascending trend and increase of price.According to the point that in long term time frames such as weekly and daily there is not a clear reason for descending of price, the possibility of ascending in this currency pair is tangible, so the next target of buyers is the resistance level of 127.661. at least formation of a top price and fixing of it in daily or 4H is necessary for continuing this descending trend. http://blog.fxglory.com/wp-content/uploads/2013/03/3.gif FxGlory 2013.03.08 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.