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FXGLORY

ForexTechnical Analysis

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Technical analysis of EUR/USD dated 29.07.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 10.07.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 1.32958. Right now in weekly, daily and 4H time frames price is above 5-day moving average which shows consistent ascending trend. As it is obvious in the picture below, price has been stopped from more ascending with reaching to the descending trend line made of several resistance points (buyers leave their trades) and with creating the top price of 1.32958, the field has been prepared for descending.

 

RSI indicator is in saturation buy area and in divergence mode with the price chart and confirms the top price and warns about changing price direction during the next candle. The first warning for descending of price is breaking of the conversion level of 1.32526 (resistance to support) or breaking of ascending trend line (made of 3 bottom prices, obvious in the picture below) in this currency pair.

 

eurusdh41.jpg

 

FxGlory

2013.07.29

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Technical analysis of GBP/JPY dated 30.07.2013

 

GBP/JPY has prepared the field for a downfall from the level of 154.016 with creating a top price (formation of divergence mode between RSI indicator and chart and AB=CD harmonic pattern). According to the created top prices in monthly and weekly time frames, there is the potential for reformation of ascending trend in long period of time. Sellers were successful in achieving the lowest price level of 149.957. Price has been stopped from more descending with reaching to the middle line of Andrew’s Pitchfork pattern during descending and also ascending trend line made of 2 supportive points (some sellers used these levels to leave their trades).

 

According to the recent downfall from the top price of 154.016, RSI indicator is in saturation sell area and with the next cycle confirms the bottom price of 149.957 warns about price reformation during the next candles. The first warning for ascending of price is breaking of resistance level of 150.889.

 

gbpjpyh4.jpg

FxGlory

2013.07.30

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Technical analysis of USDCAD dated 31.07.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 26.07.2013, according to the formed technical signs, there was the potential for ascending of price to the conversion level (supportive to resistance) which finally happened. Buyers were successful in achieving the highest price of 1.03210.as it is obvious in daily time frame, price has been stopped from more descending with touching the supportive lines made of ascending trend line and 2 bottom prices and number one level of Warning line, Andrew’s Pitchfork pattern and with creating the bottom price of 1.02488 has prepared the field for ascending. With closing of the yesterday bullish candle, there is the potential for more ascending from the round resistance level of 1.06000.

 

As it is obvious in the picture below, Stoch indicator is in saturation sell area and warns about ascending of the price during the next candles. Currently there is a top price in 4H time frame that the first warning for ascending of price is breaking of the resistance level of 1.03210.

 

usdcaddaily.jpg

 

FxGlory

2013.07.31

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Technical analysis of AUD/CAD dated 01.08.2013

 

AUD/CAD was in a strong and consistent descending trend that sellers during this descending trend were successful in achieving the lowest price level of 0.91698. Currently in 4H time frame with formation of hammer candlestick pattern (the failure of sellers in reaching to the lower prices) price has been stopped from more descending and there is a possibility of formation of a bottom price and finally ascending of the price.

 

As it is obvious in the picture below between the top price of .97788 and the bottom price of 0.91698, there is an ideal AB=CD harmonic pattern with the ratios of 61.8 and 161.8 that with completion of the D point (also formation of butterfly pattern in CD wave), there is a potential for ascending of price.Stoch indicator is in saturation sell area and in divergence mode with the price chart confirms the D point of harmonic patterns and warns about potential of ascending during the next candles. Generally until the bottom price of 0.91698 is preserved, price will have the potential for reformation.

 

audcadh4.jpg

 

FxGlory

2013.08.01

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Technical analysis of GBP/CHF dated 02.08.2013

GBP/CHF since 20.05.2013 is in a downtrend that sellers were successful to achieve the lowest price of 1.40426. Right now price in long term time frames such as monthly and weekly is under 5-day moving average which shows the downtrend. As it is drawn in the picture below, according to the type of price movement, price is in a downtrend channel that sellers use the supportive edge of that to leave their trades.

 

Price has been stopped from more descending with reaching to the specified supportive level( supportive level of downtrend channel, number 3(lower warning line 3) level of pitchfork pattern, supportive level related to 17.04.2013) and with closing of the bearish candle, there is a warning for changing price direction.Stoch indicator in Daily time frame is in saturation sell area and confirms 1.40426 also warns about ascending of price during the next candles. Generally until the bottom price of 1.40426 is preserved, price will have the potential for ascending and reformation.

 

gbpchfdaily.jpg

 

FxGlory

2013.08.02+

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Technical analysis of AUD/USD dated 05.08.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 24.07.2013, according to the formed technical signs, there was the potential for descending of price which finally happened. During the uptrend from bottom price of 1.91258, price with reaching to the descending trend line made of 4 peak prices has been stopped form more ascend. Right now in 4H time frame price with creating the hammer candlestick pattern (failure of sellers in reaching to the lower price) warns about the formation of a bottom price in this range that needs the recording of the bottom price of 0.88472.

 

As it is obvious in the picture below, there is non-ideal butterfly pattern between the top price of 0.93159 and the bottom price of 0.88472 that there is a potential for ceasing of price from D point of this pattern. RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about ascending of price during the next candles. Generally until the price level of 0.88472 is preserved, price will have the potential for reformation and ascending.

 

audusdh4.jpg

 

FxGlory

2013.08.05

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Technical analysis of GBP/AUD dated 06.08.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 24.04.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful to achieve the highest price level of 1.72547.Currently price in long term time frames like monthly, weekly and daily time frames is above 5 day moving average which shows a consistent ascending trend in long period of time.

 

As it is obvious in the picture below, there is a harmonic butterfly pattern between the bottom price of 1.61292 and the top price of 1.72547 that there is a potential for changing price direction from D point of this pattern. RSI indicator is in saturation sell area and divergence mode with the price chart that confirms the current bottom price and warns about descending of price during the next candles. Generally until the price level of 1.72547 is preserved, price will have the potential for reformation and descending.

 

gbpauddaily.jpg

 

FxGlory

2013.08.06

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Technical analysis of Gold dated 07.08.2013

 

As it was mentioned in the previous technical analysis of Gold dated 11.07.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful to achieve the highest price level of 1347.38. Currently price during the downfall from the top price of 1347.38 has been stopped from more descending with reaching to the middle line of Andrews Pitchfork pattern.

 

As it is obvious in the picture below, there is AB=CD harmonic pattern between the top price of 1338.92 and the current descend price with ideal ratios of 61.8 and 127.2 that there is a potential for changing price direction from D point of this pattern. Stoch indicator is in saturation sell area that warns about ascending of price during the next candles and according to the current condition of daily time frame is not high validated. According to the current condition of price, the first warning for descending of price is breaking of the resistance level of 1284.91.

goldh4.jpg

 

FxGlory

2013.08.07

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Technical analysis of USD/CHF dated 08.08.2013

 

USD/CHF since 10.07.2013 till now was in a downtrend that sellers were successful in achieving the lowest price of 0.91892. Currently in long term time frames such as monthly, weekly and daily price is under 5-day moving average (a consistent downtrend) and there is not any clear reason about ascending of price in these time frames.As it is obvious in the picture below, price during the descending has touched the ascending trend line (made of 3 bottom prices) and also the round supportive level of 0.92000 and has created the hammer candlestick pattern.

 

Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.Stoch indicator in 4H time frame is in saturation sell area and with the next cycle confirms the current bottom price and warns about ascending of price that with not being in the same direction with daily time frame is not so much valid. According to the current condition the first warning for descending of price is breaking of the resistance level of 0.92303.

 

usdchfh4.jpg

 

FxGlory

2013.08.08

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Technical analysis of AUD/NZD dated 09.08.2013

 

AUD/NZD during the recent month was in a strong downtrend that sellers were successful in achieving the lowest price of 1.11958. Right now price is under 5-day moving average in long term time frames such as monthly and weekly that shows a consistent downtrend in this currency pair. With cashing of some sellers’ trades (formation of candle stick pattern with long lower shadow in weekly time frame) the price ascends and currently with closing of bullish candle on second day records the bottom price of 1.11958.

 

Stoch indicator in weekly time frame is in saturation sell area and with the next cycle confirms the current bottom price and warns about the potential of ascending during the next candles. Price with reaching to the descending trend line made of 4 top prices test it that according to the signal from Stoch indicator, there is the possibility for breaking of this resistance level. Currently according to the condition of this currency pair and its strong downtrend in recent months, price is in saturation sell area and warns about a slight reformation in weekly time frame.

 

audnzdh4.jpg

 

FxGlory

2013.08.09

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Technical analysis of EUR/JPY dated 12.08.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 09.07.2013, according to the formed technical signs, there was the potential for ascending of price which finally happened.Buyers were successful to achieve the highest price level of 132.726. Currently in long term time frames such as monthly, weekly, there is a potential for descending and price reformation also price is under 5-day moving average in weekly and daily time frames. AS it is obvious in the picture below, there is an ideal AB=CD harmonic pattern between the top price of 132.726 and the bottom price of 127.962 with ratios of 78.6 and 127.2 that warns the ascending of price from the D point( the first warning for ascending is breaking of the resistance level of 128.726).

 

Stoch indicator is in saturation sell area that confirms the current harmonic pattern with the next cycle but because of non-compliance and coordination with larger time frames, this signal is not much valid. Generally until the bottom price of 127.962 is preserved, price has the potential to ascend.

 

eurjpyh4.jpg

 

FxGlory

2013.08.12

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Technical analysis of AUD/NZD dated 15.08.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 09.08.2013, according to the formed technical signs, there was the potential for stopping of downtrend which finally happened. Sellers were not successful to continue this trend.Right now price is under 5-day moving average in long term time frames such as monthly, weekly and daily that shows a consistent downtrend in long period of time.

 

During the uptrend from bottom price of 1.11958, price with reaching to the downtrend line and breaking of it did not qualify for ascending. In the return of Price, the downtrend line’s property is reversed and as a supportive line is impressive on price. Also price is on the descending trend line made of 2 bottom prices that with formation of a bottom price (the third point of ascending trend line) warns about ascending of price.

 

Stoch indicator in 4H time frame is in saturation sell area and with the next cycle warns about ascending of price during the next candles, but because of lack of coordination with the daily time frame is not much valid. Given the current situation of price, the best confirmations for ascending and reformation of price is closing of bullish candle in weekly time frame and being of price above 5-day moving average in daily time frame.

 

audnzdh41.jpg

 

FxGlory

2013.08.15

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Technical analysis of Gold dated 16.08.2013

 

As it was mentioned in the previous technical analysis of Gold dated 07.08.2013 , according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were not successful in achieving the highest price of 1372.66.Right now price is above 5-day moving weekly and daily time frames that show an uptrend during the next candles. Currently in long term time frames such as monthly, weekly and daily, there is not a clear reason for price downfall and also in long period of time there is the possibility of growth of price to the Fibonacci levels of 38.2 in the level of 1415.00 and for the next time to 50% in the level of 1487.00.As it is obvious in the picture below, price is in an uptrend channel going toward the resistance level. Currently price has been stopped from more ascend that cause formation of Shooting Star pattern in 4H time frame. With closing of bearish candle, there is a potential for price reformation to the conversion range.

 

golddaily.jpg

 

FxGlory

2013.08.16

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Technical analysis of GBP/USD dated 19.08.2013

 

GBP/USD from bottom price of 1.48131 was in uptrend that buyers could achieve the highest level of 1.56545. Currently price in weekly and daily time frames is above 5-day moving average that shows more ascending during the next candles. As it is shown in the picture below, price is in an uptrend channel that has reached to the resistance edge of this channel.According to the formed movements, there is AB=CD harmonic pattern with non-ideal ratios of 50 and 161.8between the bottom price of 1.48131 and the top price of 1.56545that warns changing price direction from D point of this pattern. RSI indicator is in saturation buy area and in divergence mode with the price chart that confirms the current top price and warns about more ascends. The first warning for decreasing of price is breaking of supportive level of 1.56069 in this currency pair.

 

gbpusdh4.jpg

 

FxGlory

2013.08.19

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Technical analysis of USD/CAD dated 20.08.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 31.07.2013, according to the formed signs, there was a potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 1.04439 during this trend and price is going toward descending trend line made of 2 top prices. Currently in daily and 4H time frames price is above 5-day moving average that shows an ascending trend. According to the recent ascending trend, price appears as a bullish candle that confirms formation of a bottom price and finally ascending.

Stoch indicator in daily time frame with the next cycle confirms the current bottom price and warns ascending of price during the next candles. Currently in long term time frames such as weekly and daily , there is not a clear reason for descending of price and the first important warning is breaking of ascending trend line.

 

usdcaddaily.jpg

 

FxGlory

2013.08.20

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Technical analysis of EUR/GBP dated 21.08.2013

 

EUR/GBP since the beginning of this month was in downtrend that sellers were successful in achieving the lowest price level of 0.85038. Currently price is above 5-day moving average in daily and 4H time frames that warns about ascending of price during the next candles. As it is obvious in the picture below price with reaching to the specified supportive levels like ascending trend line made of several bottom prices and lower warning line 1(Andrew’s Pitchfork) has been stopped from more descend and with formation of bottom price of 0.85038 has prepared the field for ascending of price.

 

Stoch indicator in daily time frame is in saturation sell area that confirms the current bottom price and warns about changing price direction. According to the current situation the first warning for descending of price is breaking of the current supportive level like ascending trend line in this currency pair.

 

eurgbpdaily.jpg

 

FxGlory

2013.08.21

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Technical analysis of AUD/USD dated 22.08.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 05.08.2013, according to the formed signs, there was a potential for ascending of price which finally happened. Buyers were successful in reaching to the highest price of 0.9318 and after that the price has started to decrease. Currently price in monthly ad daily time frames is under 5-day moving average that shows descending of price during the net candles.

 

Price during the downfall with reaching to the supportive level of weekly pivot number 3 and Fibonacci level of 161.8 ABC pattern has stopped from more descend and has formed a bottom price in the level of 0.89317. As it is obvious in the picture below, price could not touch the Median Line of Pitchfork pattern and it is going toward the resistance line which shows changing price direction.Stoch indicator in daily time frame is in saturation sell area that confirms the current bottom price and warns about changing price direction. Currently there is a descending trend line made of 4 peak prices prevents the ascending of price.

 

audusdh1.jpg

 

FxGlory

2013.08.22

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Technical analysis of USD /CAD dated 23.08.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 20.08.2013, according to the formed signs, there was a potential for ascending of price which finally happened. Buyers were successful in reaching to the highest price of 1.05540 and the price is above 5-day moving. As it was mentioned in the previous technical analysis of this currency, in long period of time there is good potential for growth of price.

 

Price is going toward the resistance level of 1.06000 (the important psychic level of buyers) and there is not any clear reason of sell signal in long term time frames such as monthly and weekly. As it is obvious in the picture below, according to the formed movements in daily time frame, there is Bat harmonic pattern that the D (formation of a top price) point of this pattern is the first warning for a price downfall.

 

usdcaddaily1.jpg

 

FxGlory

2013.08.23

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Technical analysis of Gold dated 29.08.2013

As it was mentioned in the previous technical analysis of this currency pair dated 16.08.2013, according to the formed technical signs, there was the potential for descending of price which finally happened. Buyers with creating a bottom price near the supportive level were successful in achieving the 434.16(using of the supportive edge of uptrend channel as a target). according to the recent descend the daily candle in previous day was appeared as Shooting Star candlestick pattern that shows failure of buyers in reaching to the higher prices and formation of a bottom price in this range (closing of bearish candle).

 

As it is obvious in the picture below, there is an AB=CD harmonic pattern between the bottom price of 1208.52 and the top price of 1434.16 with ideal ratios of 50 to 200 that warns about descending of price from the D point of this pattern. RSI indicator is in saturation buy area and confirms the current top price, also wars about formation of a top price. Generally until the top price of 1434.16 is preserved, price has the potential of descending.

 

golddaily1.jpg

 

FxGlory

2013.08.29

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