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Technical analysis of USD/CHF 02.05.2013 USD/CHF on 24.04.2013 by reaching to the descending trend line has been stopped from more ascend and finally by creating a top price descended. Sellers during the recent descending were successful in reaching to the bottom price of0.92465. As it is obvious in the picture below, the sellers were not able to descend more by reaching to the ascending trend line (a place to cash their trades) that cause formation of the third point on ascending trend line and now this bottom price is fixed by ascending trend candles. RSI indicator in 4H time frame is in saturation sell area that confirms the third point of ascending trend line ( also in 1H time frame it is in divergence mode with the price chart) and warns the potential for ascending of the price. One of the current target prices is the resistance level of 0.93116 and by breaking of it; there will be more potential for ascending in this currency pair (moving toward the descending trend line). Until the third point of ascending trend line is preserved, there will be the potential for ascending of the price. In daily time frame of this currency pair, price is under 5-day moving average and there is not any clear reason for ascending of the price. If the bottom price of 0.92465 succumbs, the price will find the potential for reaching to the next supportive level of 0.92055. FxGlory 2013.05.02

Technical analysis of AUD/USD dated 01.05.2013 AUD/USD during the recent weeks was in an ascending trend that buyers were successful in reaching to the highest price of 1.03839. The price has stopped from more ascend by reaching to the resistance edge of uptrend channel and a top price was created on the resistance line by the buyers retreat. Right now the price level of 1.03839 is known as a peak price by closing of the descending candle. As it is obvious in the picture below, between the bottom price of 1.02195 and the top price of 1.03839, there is an ideal AB=CD harmonic pattern with the ratios of 61.8 and 16.8 that warns about the potential for a price downfall from the D point. RSI indicator in 4H time frame is in saturation buy area of the D point confirms AB=CD harmonic pattern and make the potential for a price downfall possible. If the downfall continues, the supportive levels of 1.03374 and 1.03278 will be the target prices. According to the ascending potential in weekly time frame, price reformation of 4H time frame is not stable and by breaking the resistance level of 1.03839, the descending signal for 4H time frame will be invalid. FxGlory 2013.05.01

Technical analysis of GBP/USD dated 30.04.2013 As it was mentioned in the previous analysis of this currency pair dated 18.04.2013 according to the formed signs in this price chart, finally price could ascend from the bottom price of 1.52143. As it was mentioned in the previous analysis of this currency pair, in long term interval there is a good potential for ascending that the price starts to ascend by making the third bottom price on ascending trend line and the buyers could record the top price of 1.55443. Right now this resistance level in 4H time frame is as a top price and it is the nearest resistance level in front of price. By breaking of this level, the price will have the potential for ascending (according to the potential of ascending in long term interval). According to the formed movements in the price chart, between the bottom price of 1.48317 and top price of 1.55443 and also from the bottom price of 1.50335 to top price of 1.55443, there are 2 AB=CD harmonic patterns with the ratios of 50 and 161.8 that by completion of the D point, there will be the possibility of price reformation in this currency pair. In daily time frame there is Shooting Star candle stick pattern which shows cashing of the buyers trades and the potential for formation of a top price. If today daily candle closes in a descending trend, it confirms this pattern. By breaking of the supportive level of 1.54660, there will be the first signal for descending of the price and price reformation in this currency pair. FxGlory 2013.04.30

Technical analysis of CAD/JPY dated 29.04.2013 CAD/JPY in recent weeks has been in a strong and consistent trend in the price movements which buyers have been successful in reaching to the highest price of 98.763. Currently the mentioned price level is fixed as a peak price, and it is the most important resistance level in front of the price. One of the buyers’ goals for their trades is Fibonacci level of 50 and the resistance edge of the uptrend channel that some buyers have used these levels to exit trades that eventually led to the formation of a peak price on the resistance edge of the uptrend channel. In weekly time frame RSI indicator is in saturation sell area according to the recent ascending and also according to the formed movements in the price chart, it is in divergence mode with it that warns the potential of changing price direction. In top price of 98.763, there are 3 Shooting Star,Hanging Man, and Engulfing candlestick patterns that All point to the possibility of formation of a top price and the potential for changing price direction. In case of descending, one of the target prices will be 94.491 level. The first important warning to start a price reformation is breaking of the supportive level of 95.798. Generally, according to the signs in the price chart, until the top price of 98.763 is preserved, the price will have the potential for reformation in this currency pair. FxGlory 2013.04.29

Technical analysis of GBP/CHF dated 26.04.2013 As it was mentioned in the previous analysis of this currency pair dated 19.04.2013 according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. During this process, buyers were able to register the highest price of 1.46438 that is one of their target prices for ascending of the price. As it is shown in the picture below, right now the price by reaching to the resistance line of ascending channel has stopped and has created a top price on it which shows cashing of the buyers trades and exit of some of them from the buy trades. Between the bottom price of 1.39615 and top price of 1.46438, there is a descending AB=CD harmonic pattern, with the ratios of 78.6 and 127.2 that by completion of the ending point of this pattern, there is a warning for price reformation (Due to the rapid growth in CD wave and not completing of it, this pattern is not ideal).In the mentioned resistance level according to the formed movements, there is an ideal Shooting Star candlestick pattern that warns about formation of a top price and descending trend. RSI indicator is in saturation buy area in 4H time frame that confirms the top price of 1.46438 and warns about price reformation. In long term interval, there is the possibility for ascending of the price and the created top prices may be unstable. FxGlory 2013.04.26

Technical analysis of CHF/JPY dated 25.04.2013 CHF/JPY during the recent months and from the bottom price of 78.272 was in a strong and without reformation ascending trend that buyers could record the top price of 107.413. Price stopped by reaching to the important resistance level of 107.115 (related to the date 09.08.2011) and after trying to break this resistance level twice that was unsuccessful, the price created a top price under that level. Beside the mentioned resistance level, as it is obvious in the picture below the Fibonacci level of 2.00 is also one of the target prices of buyers during the ascending of price and when the price reaches to this level, by cashing the buyers’ trades the price has dropped. According to the formation types of price movements on the chart, there is a descending Butterfly harmonic pattern and by completion of the D point of this pattern, there will be a warning for descending and changing price direction. In Weekly time frame in the previous week, the weekly candle appeared as a Hanging Man candlestick pattern (to notice this candlestick pattern, there is a need to a descending candle as confirmation) that shows the possibility for formation of a top price and ending up the ascending of the price). RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for changing price direction. Generally according to the formed sign in the price chart until the top price of 107.413 is preserved, the price has the potential for descending in this currency pair. FxGlory 2013.04.25

Technical analysis of GBP/AUD dated 24.04.2013 As it was mentioned in the previous analysis of this currency pair dated 01.04.2013, according to the formed signs in this price chart, there was the possibility for ascending of the price which finally happened. Right now the price is in the lowest prices in the recorded history and generally in long term interval according to the bottom price of 1.43759 and other factors, it has a good potential for ascending. Price could record the top price of 1.49373 during this ascending trend and stopped (In 4H time frame with the formation of AB=CD harmonic pattern and completing its D point, the price stopped from more ascends). AB=CD harmonic pattern in weekly time frame of this currency pair is active yet and effects on the price. Price in weekly and daily time frame is above 5-day moving average and warns about the increasing of the price according to the ascending potential in this currency pair. Currently price at daily time frame has formed Shooting Star candlestick pattern (To notice this candlestick pattern, there is a need to closure of a descending candle) that shows the first warning signals for the formation of a top price. Stoch indicator is in saturation buy area in daily time frame and also confirms the candlestick pattern according to the next cycle and warns about price reformation (due to not being in the same direction with weekly time frame, it is not so valid). By breaking this resistance peak of 1.49373, there will be a signal for more ascends in this currency pair. FxGlory 2013.04.24

Technical analysis of AUD/NZD dated 23.04.2013 As it is obvious in the picture below, price in AUD/NZD currency pair from the end of 2011till now was in a descending channel that Sellers have the price close to the supportive levels’ range of 2009 and 2010. Right now price is closed under 5-day moving average in long term time frames and could record the bottom price of 1.21575 in recent days. If the supportive level of 1.21334 breaks, the price finds the potential for descending up to the round level of 1.20000. Price during descending from the resistance edge of descending channel (top price of 1.26778) has stopped from more descend by reaching to the supportive range and it is fluctuating in green range.RSI indicator is in saturation sell area in daily time frame and according to the next cycle confirms the mentioned bottom price and warns about ascending during the next candles. By breaking the short term descending channel, there is first technical signal for starting the price reformation and ascending trend. Generally if the short term descending channel breaks, until the price level of 1.21575 is preserved, price has the potential for reformation and ascending from the supportive edge of descending channel. FxGlory 2013.04.23

Technical analysis of Silver dated 22.04.2013 Silver chart has experienced a strong descending trend during the recent week that could record the bottom price of 22.02. One of the sellers’ targets was the round level of 22.00 that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price. According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation. According to the formed movements in the price chart, between the top price of 37.47 and the bottom price of 22.02 there is an ideal AB=CD harmonic pattern with the ratios of 78.6 and 127.2 that warns about changing price direction and price reformation. RSI indicator is in saturation sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days. Generally until the price level of 22.00 is preserved, the price has the potential for ascending and reformation. FxGlory 2013.04.22

Technical analysis of GBP/CHF dated 19.04.2013 As it is obvious in the below price chart, GBP/CHF from the top price of 1.44686 has descended and sellers could record the bottom price of 1.40727 that this supportive level is fixed in daily time frame ( by ascending candles) and acts as a bottom price. Price by reaching to the ascending trend line (made of 2 bottom price) was not able to descend and break it in daily time frame and by creating the hammer candlestick pattern on this line shows recessing of sellers in reaching to the lower price and also the supportive level of 1.40727. According to the below picture, price by making the third bottom price of ascending trend line has started to ascend and is above 5-day moving average that warns about ascending of price during the next candles. Stoch indicator is in saturation sell area and in divergence mode with the price chart that warns about changing price direction. Right now the price by reaching to the red descending trend line has stopped from more ascend and generally by breaking this resistance line, first signal for increasing and more ascends of price will be issued. FxGlory 2013.04.19

Technical analysis of GBP/USD dated 18.04.2013 As it was mentioned in the previous analysis of this currency pair dated 08.04.2013, according to the formed signs in the price chart, there was the potential for descending and reformation of the price that finally happened. As it is obvious in the picture below, the price is fluctuating in ascending channel and right now an ascending trend line prevent from more descending of the price. Price has been stopped during the recent descending and could record the bottom price of 1.52143 on supportive trend line which is shown in the picture below. Right now this bottom price is fixed by an ascending candle and there is hammer candlestick pattern in this bottom price that shows the possibility of formation of a bottom price and then ascending of the price. According to the formed signs in the price chart between the top price of 1.54091 and the bottom price of 1.52143 there is an AB=CD harmonic pattern with the ideal ratios of 78.6 and 127.2 that from the D point of this pattern there will be a warning for changing price direction. RSE indicator is in saturation sell area and warns about the possibility of ascending of the price according to the next cycle. Generally according to the formed signs, price is able to ascend from the mentioned bottom price and if the sellers succeed in breaking this supportive level, the price will have the potential to descend and reach to another supportive trend line. FxGlory 2013.04.18

Technical analysis of Gold dated 17.04.2013 Gold price has experienced a severe descending trend and could record the bottom price of 1320.30. This bottom price is fixed by the ascending candles in 4H time frame and is the most important supportive level in front of the price. As it is obvious in the picture below, the price has been stopped and formed a bottom price by reaching to the supportive edge of descending channel during the descending trend.Closing of descending candle of Spinning top pattern type in previous day shows indecision market for ascending or descending and the buyers doubt in reaching to the lower prices. Also the combination of this pattern with the big descending candle on 15th day will create the Harami candle stick pattern that warns about formation of a bottom price and finally ascending of the price. Between the top price of 1920.31 and the bottom price of 1320.30, there is AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that from the D point of this pattern, there is the potential for ascending and price reformation.RSI indicator is in saturation sell area in daily time frame and also confirms the D point of harmonic pattern by the next cycle and warns about the possibility of changing price direction. Generally until the price level of 1320.30 is preserved, the price has the potential for reforming of the descending trend. FxGlory 2013.04.17

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Technical analysis of USD/JPY dated 16.04.2013 As it was mentioned in the previous analysis of this currency pair dated 09.04.2013, according to the formed signs in the price chart, there was the potential for descending of the price that finally happened. The price during the downfall could record the bottom price of 95.806.right now in 4H time frame the mentioned price level is fixed by an ascending candle and act as a bottom price.According to descending of the price in last week, the previous week candle has appeared as a Shooting Star candlestick pattern that shows the buyers failure in reaching to the upper prices and vulnerability of ascending trend that will be fixed by closing of the descending candle at the end of this week. As it is obvious in weekly time frame, according to the formed price movements, there is an ideal Three Drives Pattern harmonic pattern that warns about changing price direction. RSI indicator is in saturation buy area and it is in divergence mode with the price and confirms the Shooting Star candlestick pattern. The first warning for starting of a descending trend and decrease of price is breaking of the supportive level of 95.806. Generally according to the formed signs in the price chart until the resistance level of 100.000 is preserved, the price has the potential for reformation and descending in this currency pair. FxGlory 2013.04.16

Technical analysis of NZD/USD dated 15.04.2013 NZD/USD during the last week has experienced an ascending trend that could record the top price of 0.86754. As it is obvious in the picture below, the price is in an ascending trend and fluctuating in an ascending channel. The price during the ascending trend by reaching to the resistance line of ascending channel and also the Fibonacci level of 127.2 has been stopped from more ascend and started to reform the ascending trend. Between the bottom price of 0.80492 and the top price of 0.86754, there is an AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that warns about changing price direction. According to the formed movements in the chart, Stoch indicator is in saturation buy area and confirms the top price of 0.86754 by the next cycle and warns the possibility of descending of the price during the next days. In long term time frames such as weekly and monthly time frame, the price is above 5-day moving average and there is not any clear reason for descending of the price. If the price level of 0.86754, the price find the potential of reaching to highest historical level of 0.88422 this currency pair. FxGlory 2013.04.15

Technical analysis of CAD/JPY dated 10.04.2013 CAD/JPY from the bottom price of 91.166 was in a strong ascending trend without reformation that could record the top price of 97.983. According the general ascending trend and not observing a clear technical reason for descending of price in long term time frames, if the price level of 97.983 breaks, the price will have the potential of reaching to the resistance range in this currency pair.To review trades with some buyers, the price has been stopped from more ascend which is shown by forming of the candles with small body (also candlestick pattern shows formation of a top price). As it is obvious in the picture below, between the bottom price of 88.507 and the top price of 97.983 there is AB=CD harmonic pattern with the ratios of 50 to 200 that by completing the end point of this pattern, there will be a warning for forming of a top price.RSI indicator is in saturation buy area and that shows the possibility of having a top price and then a downfall. The first important warning for starting a reformation in ascending trend and falling of the price is breaking of the supportive level of 96.960 (the lowest changing price level on the previous day). FxGlory 2013.04.10

Technical analysis of USD/JPY dated 09.04.2013 USD/JPY was in a strong ascending trend and without reformation that could record the top price of 99.618 which is the next nearest resistance level of this currency pair. According to the strong ascending trend and not having a clear technical reason for descending of the price in long term time frame, if the mentioned peak price breaks, the price will have the possibility of reaching to the important round level of 100.000 for the first target.In 4H time frame there is a Evening Star candlestick pattern (with 2 stars) on the peak price of 99.618 according to the type and formation of the price candles that shows the potential for formation of a successful top price and after that a downfall.As it is obvious in the picture below, between the bottom price of 90.871 and the top price of 99.618 there is AB=CD harmonic pattern with the Fibonacci ratios of 61.8 and161.8 (also The Three Drives Pattern harmonic pattern) that warns about descending of the price.RSI and stoch indicator are in saturation buy area and warn about the descending of the price according to the next cycle. Generally until the top price of 99.618 is preserved, there is the potential for reforming of the ascending trend in this currency pair. FxGlory 2013.04.09

Technical analysis of GBP/USD dated 08.04.2013 As it was mentioned in previous analysis of this currency pair dated 25.03.2013, according to the formed signs there was a potential for descending of the price and movement toward the Neck line in Inverted head and shoulders pattern that finally happened. As it is obvious in the picture below the price has an ascending trend and without reformation from the bottom price of 1.53617 that could record the top price of 1.53617 during this trend. The mentioned bottom price was created by reaching of price to the descending trend line (resistance to supportive property) and was the beginning of ascending trend. Right now the price in 4H time frame by reaching to the resistance line of ascending channel has stopped and has created the top price of 1.5361 which is fixed by the descending candles. According to the long term time frames like weekly and monthly time frames, there is not any clear reason for descending of the price and the price in both time frames is closed above 5day moving average. This situation shows unstable reformation and descends in 4 H time frame. Generally until the top price of 1.53617 is preserved, the price has the potential for descending and reformation in this currency pair and by breaking this price level in 4H time frame, there is the possibility of more ascending of price ( according to the technical analysis of 13.03.2013). FxGlory 2013.04.08

Technical analysis of USD/CAD dated 05.04.2013 USD/CAD during the ascending trend by reaching to the descending trend made of (2 peak prices) has been stopped from more ascend and by forming of a top price under this resistance line finally descend. Right now the price could record the bottom price of 1.01000 and as it is obvious in the picture below, this level is in alterant level (resistance to supportive) that prevent from more descending of the price. According to the formed movements in this price chart , between the top price of 1.3400 and the bottom price of 1.01000 there is an AB=CD harmonic pattern with the ideal ratios of 61.8 and 161.8 that by completing the D point of this pattern, there will be a warning for ascending of the price.In 4H time frame in the range of D point of harmonic pattern, there is a hammer candlestick pattern with long lower shadows that confirms this D point and possibility of formation of a bottom price in this chart. If the supportive level of 1.01000 breaks, the price will find the potential for reaching to the important supportive level of 1.00000. FxGlory 2013.04.05

Technical analysis of EUR/NZD dated 04.04.2013 EUR/NZD was in a descending trend from the top price of 1.63538 that could record the bottom price of 1.51770. Right now this bottom price is fixed by the next ascending candles and is the next nearest supportive level. If this supportive level breaks , the price will have the potential of reaching to the important supportive level of 1.50000.as it is obvious in the picture below, the price in a descending channel during its descending trend that the supportive level of this channel prevent it from a downfall for several times and each time the price has ascended. According to the formed movements in the price chart, the price and RSI indicator are in divergence mode and warns about the potential of changing price direction in this currency pair. In daily time frame there is a hammer candlestick pattern (also a Harami pattern) that shows the sellers retreat for reaching to the lower prices that it needs confirming with closing of an ascending candle. By breaking of the resistance level of 1.53747 and passing of it, there will be an important signal for changing price direction and the buyers will find more hope to control the market. Generally until the bottom price of 1.51770 is preserved, the price has the potential for reformation and ascending. FxGlory 2013.04.04

Technical analysis of EUR/USD dated 03.04.13 EUR/USD from 04.02.2013 was in a reforming and falling trend that could record the bottom price of 1.27505 during this descending trend. The price has been stopped during its descending trend by reaching to the supportive level (made of 2 bottom prices) and has made the bottom price of 1.27505 that provides the filed for stopping of the price downfall. In long term time frames such as weekly and monthly time frames, the price has closed under the 5-day moving average that shows a descending trend and generally there is no clear reason for ascending of price in long term intervals in this currency pair. As it is obvious in the picture below, in 4H time frame the price descends from the top price of 1.28771 that by reaching to the ascending trend line has stopped and has created a bottom price. Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the created bottom price and warns about the possibility of ascending of the price during the next candles. According to the next descending trend line, the first warning for changing trend direction and increasing of the price is breaking of this resistance line. FxGlory 2013.04.03

Technical analysis of GBP/AUD dated 01.04.2013 GBP/AUD is in a long term descending trend that right now is in the lowest price levels during the recent 20 years. The price in this currency pair during the descending trend could record the bottom price of 1.43759. as it is obvious in the picture below, the price by reaching to the blue supportive level ( made of 2 bottom prices) has been stopped from more descending . In weekly time frame formation of candles with long lower shadow shows the sellers failure in reaching to the lower prices and warns about the potential for formation of a successful bottom price for increasing of the price.According to the formed movements in the price chart, between the top price of 1.61781 and the bottom price of 1.43759 there is an ideal harmonic pattern with the ratios of 78.6 and 127.2 that by completing the D point of this pattern, there is a warning for ascending of the price and changing price direction. Generally until the bottom price of 1.43759 is preserved, the price has the potential for ascending and changing price direction in this currency pair. FxGlory 2013.04.01

Technical analysis of Gold chart dated 29.03.2013 As it was mentioned in the previous technical analysis of Gold on 07.03.2013, according to the formed signs in the chart there was the possibility of price ascend that finally happened and it is still valid for this chart. The price has been stopped in its downfall by recording the bottom price of 1593.88. As it is obvious in the picture below, the price by reaching to the ascending trend line made of 7 peak prices has been stopped from more descending and the buyers are hopeful about ascending of price from this supportive level.Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the created bottom price and warns about the possibility of price ascend. In case of ascending of the price, one of the buyers target will be the drawn resistance line. One of the important warnings is breaking the resistance level of 1616.74 for ascending of the price and leaving this range (which is the top price level in previous week). FxGlory 2013.03.29

Technical analysis of NZD/CHF dated 28.03.2013 NZD/CHF during the recent days had an ascending trend that could record the top price of 0.79926. as it is obvious in the picture below, the price by reaching to the long term descending trend line ( made of 2 peak prices)dated back to the 2010 has been stopped and the buyers were unable to pass this resistance line.According to the formed movements in the price chart, between the bottom price of 0.76471 and the top price of 0.79926 there is an AB=CD harmonic pattern with the ideal ratios of 61.8 and 161.8 which the D point of this pattern is completed and warns about descending of the price in this price range. Stoch indicator in 4H time frame is in the saturation buy area and is in divergence mode with the price chart that warns about changing price direction.According to this point that in long term time frames, price is above 5-day moving average and there is not any clear reason for descending of the price, if the price level of 0.79926 and descending trend line breaks, the price will find a potential for going toward the targets such as the important round level of 0.80000 and 0.81329 level. FxGlory 2013.03.28

Technical analysis of AUD/USD dated 27.03.2013 AUD/USD was in ascending trend from the bottom price of 1.01137 that during this ascending trend the buyers could record the top price of 1.04950. The price by reaching to the descending trend line (made of several peak prices) has been stopped from more ascending and right now is in the price reformation condition.In 4H time frame the top price of 1.04950 has been recorded and the Stoch indicator by being in a descending cycle confirms the mentioned top price but because of not being confirmed by the larger time frame, it does not have a high validity. Right now the next important resistance level is the round level of 1.05000 that buyers tried to get this price yesterday at 5 PM and finally they were successful. Generally if this resistance level breaks, the price will find the potential for ascending and reaching to the resistance range which is shown in the picture below.In weekly time frame of this currency pair there is no clear reason for descending of the price and the price by being above the 5-day moving average and also ascending cycle of Stoch indicator warns about going forward to the resistance levels.One of the important warnings for starting the price downfall is breaking the ascending trend line (made of three bottom prices) in 4H time frame. FxGlory 2013.03.27