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FXGLORY

ForexTechnical Analysis

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Technical analysis of NZD/USD dated 18.06.2013

 

As it was mentioned in the previous technical analysis of this currency pair, according to the formed signs in the price chart, there is the potential of formation of a butterfly harmonic pattern which finally happened and price has ascend to the level of 0.81364. price in daily time frame created hammer candle stick pattern in bottom price of 0.77622 and has provided ascending of price and stop loss of price.

 

In weekly time frame, price with creating four points on ascending trend line warns stopping of price downfall against monthly time frame. stoch indicator is in saturation sell area confirms the mentioned bottom price and warns the potential of ascending of price according to the next cycle. Currently sellers were successful in descending of price in midterm interval and the first sign for buyers with formation of a bottom price and recording of it in 4H time frame is breaking of 0.80105 level that provide ascending of price in the same direction of butterfly harmonic pattern signal.

 

nzdusddaily1.jpg

 

FxGlory

2013.06.18

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Technical analysis of AUD/JPY dated 19.06.2013

 

AUD/JPY with formation of the top price of 105.349 has started to descend and sellers were successful in achieving the lower price of 88.897.Currently price in monthly, weekly and daily time frames is under 5-day moving average that shows a consistent descending trend with the potential of more downfalls in long period of time. Price during the downtrend with reaching to the ascending trend line (made of 2 bottom prices) and also alterant levels’ range has stopped from more downfalls and with formation of Inverted Hammer and Hammer candlestick patterns shows the vulnerability of the downtrend.

 

Stopping of price at mentioned Support levels indicates some sellers use them to exit their trades.Currently due to the recent heavy decline, RSI indicator is in saturation sell area that warns about formation of a bottom price in this area. The first warning for price reformation and beginning of an ascend is breaking of the resistance level of 90.704. Currently according to unclear signs for ascending of price in long term time frames, if the supportive level of 88.897 breaks, price will have the potential for descending to the important supportive level of 88.000.

 

audjpydaily.jpg

 

FxGlory

2013.06.19

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Technical analysis of AUD/CAD dated 24.06.2013

 

AUD/CAD since 11.04.2013 was in strong and consistent downtrend that sellers were successful in achieving the lowest price level of 0.94740. On 20th day price with reaching to the round supportive level of 0.95000 and also the alterant level (made of two peak prices) has been stopped form more descend and with formation of hammer candlestick pattern warns about formation of a bottom price. Formation of long lower shadow at the end of 20th day shows sellers failure in reaching to the lower prices.

 

In daily time frame with closing of bullish candle at the end of 21st day and its combination with two previous candles has made an important Morning Star candlestick pattern which warns about formation of a successful bottom price and ascending of price during the next candles. With this downtrend, RSI indicator is in saturation sell area and in divergence mode with the price chart that warns changing price direction. Generally according to the formed signs in the chart, until the bottom price of 0.94740 is preserved, price has the potential to ascend.

 

audcaddaily.jpg

FxGlory

2013.06.24

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Technical analysis of AUD/USD dated 25.06.2013

 

As it was mentioned in technical analysis of this currency pair dated 12.06.2013 , according to the formed signs, price had the potential for ascending to the specified resistance level which finally happened. Price after touching the target price starts to descend and sellers were successful in reaching the lowest price of 0.91457. With formation of Inverted Hammer candlestick pattern at the end of 21st day, there is a warning for Vulnerability of downtrend and formation of a bottom price that with closing of a bullish candle in the next day it will be recorded.

 

Currently RSI indicator is in saturation sell area and in divergence mode with price chart that confirms the bottom price of 0.91457 and warns changing price direction during the next candles. In daily time frame between the top price of 0.97928 and the bottom price of 0.91457, there is AB=CD harmonic pattern with ratios of 61.8 and 127.2 that with completion of the D point there will be a warning for ascending of price. Generally according to the formed signs until the bottom price of 0.91457 is preserved, price will have the potential of increasing.

 

audusddaily1.jpg

 

FxGlory

2013.06.25

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Technical analysis of USD/CAD dated 26.06.2013

 

USD/CAD during the recent week was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 1.05543. Right now price in long time frames such as monthly, weekly and daily is above 5-day moving average and warns about price increase in long period of time. Price has been stopped from more ascend by reaching to the specified resistance levels in the picture below and with exit of some buyers from their trades at the end of 24th and 25th days, the Shooting Star and Spinning Top candlestick patterns have been created. These candles shows vulnerability and indecision market in ascending or descending of price that for confirmation it needs closing of a bearish candle.

 

According to the formed price movements in the chart, between the bottom price of 0.98093 and top price of 1.05543,there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 (also at CD wave there us another pattern with ratios of 61.8 and 127.2) that with completion of the D point there will be a warning for descending of price. Stoch indicator is in saturation buy area in daily time frame that warns the potential of formation of a top price and a little price reformation in this range. One of the important warnings for decreasing of is breaking of supportive level of 1.45059 (Low level of price changes in the previous daily candle).

 

usdcaddaily.jpg

 

FxGlory

2013.06.26

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Technical analysis of NZD/USD dated 27.06.2013

 

NZD/USD was in a downtrend that sellers were successful in achieving the lowest price of 0.76821. Price has been stopped from more descending by reaching to the specified supportive levels made of one alterant level (with two resistance level) in the picture below, also the blue supportive level and with indecision market and sellers’ retreat, price was successful to ascend. Right now price in daily time frame price is above 5-day moving average and warns the potential of ascending of price during the next candles.

 

Formation and repeating the Spinning Top candlestick pattern on 21st, 24th and 25th days shows indecision market in ascending or descending and vulnerability of downtrend which prepare the field for formation of a bottom price. In daily time frame Stoch indicator is in saturation sell area and with the next cycle warns about the ascending of price from the bottom price of 0.76821. Generally according to the formed signs in the price chart until the mentioned bottom price is preserved, price has the potential for ascending at least to the resistance level of 0.79500 or descending trend line.

 

nzdusddaily2.jpg

 

 

FxGlory

2013.06.27

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Technical analysis of Gold dated 28.06.2013

 

Gold chart since last year was in strong and consistent downtrend that sellers were successful in achieving the lowest price of 1180.41. Price has been stopped from more descending with reaching to the supportive edge of Andrew’s Pitchfork technical pattern and also the supportive round level of 1200.00(sellers use this lever to exit their trades) and starts to ascend. Right now in long term time frames such as monthly and weekly, price is closed under 5-day moving average that shows a consistent downtrend and more descending in long period of time.

 

According to the formed movement price in the chart, there is a butterfly harmonic pattern between the top price of 1487.68 and bottom price of 1180.41 that with completion of the D point (formation of reversal candlestick pattern or bullish candle) there is a warning for price reformation. Stoch indicator in daily time frame (also in 4H time frame) is in saturation sell area and with the next cycle warns about ascending of price during the next candles. According to the current selling in the Gold price, there is not any clear sign for ascending of the price and the least sign for stopping of decreasing of price in daily time frame is formation of a bottom price (D point) and recording of it. If the level of 1180.41 breaks, price will have the potential for descending to the round supportive level of 1100.00.

 

golddaily.jpg

FxGlory

2013.06.28

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Technical analysis of silver dated 01.07.2013

 

Price since the end of 2012 till now was in strong and consistent downtrend with a little price reformation and sellers were successful in achieving the lowest price of 18.22. Right now price is under 5-day moving average in long term time frames like monthly and weekly. And warns about the potential of more descend. According to the recent downtrend price is in saturation sell area and there is a potential for price reformation. Price has formed a bottom price with reaching to the specified supportive levels in the picture below and it has stopped from more descend and has started a little ascend with shows exit of some sellers from their trades.

 

In weekly time frame with formation of hammer candlestick pattern in previous candle, there is a warning for formation of a bottom price (need to be recorded) and vulnerability of downtrend. RSI indicator is in saturation sell area and in divergence mode with the price chart in daily time frame that confirms the bottom price of 18.22 and warns about changing price direction. Currently the first important warning for ascending of price is breaking of the resistance level of 20.10. Generally until the mentioned bottom price is preserved, there is the potential for downtrend reformation.

 

silverdaily.jpg

 

FxGlory

2013.07.01

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Technical analysis of GBP/USD dated 02.07.2013

 

As it was obvious in the previous technical analysis of this currency pair dated 13.06.2013 , according to the formed signs in price chart, the price had the potential of descending which finally happened. Sellers were successful in achieving the lowest price of 1.51635 during this downtrend. Right now price is under 5-day moving average in long term time frames like monthly, weekly and daily. Price, during the downtrend, has been stopped from more descending with reaching to the specified supportive levels in the picture below and with creating the Spinning Top candle stick pattern in daily time frame, it shows the vulnerability and indecision market in ascending or descending that with closing of ascending candle at the end of today, this signal in forming a bottom price will be submitted.

 

 

Stoch indicator in daily time frame is in saturation sell area and with the next cycle warns the potential for ascending of price during the next candles. Currently the first important warning for ascending of price is breaking of the resistance level of 1.52472 (the previous day highest price) and also the descending trend line (made of 3 peak prices). Generally until the price level of 1.51635 is preserved, price has the potential to ascend and reform the downtrend.

 

gbpusddaily.jpg

 

FxGlory

2013.07.02

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Technical analysis of GBP/JPY dated 05.07.2013

 

As we told in last GBP/JPY analysis , according to down trend signs figure showed , Price has a potential to act as a bear trend and acted. Sellers catch lowest price 146.917 through this trend. Price touched inverse line and support area , so configure a stable support zone and shown some signs to act as bullish. As shown in figure , price trapped in bullish channel and after breaking Support line that touched 5 times already , there will be a clear alarm to change trend to bearish.

 

Already a Gartley harmonic pattern figured that with completing D spot , Alarms will be ringing for bearish trends. Stoch indicator is also approved this D spot with locating in buy saturating zone and alarmed bearish trend in further candles.Based on current chart , there is a probability for bearish candles , First notice for starting Bullish trend will be came out after punching D spot in 153.006 level.

 

gbpjpydaily.jpg

FxGlory

2013.07.05

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Technical analysis of EUR/JPY dated 09.07.2013

 

As it was mentioned in the previous technical analysis of this currency pair, according to the signs in the price chart, there was the potential for descending of price which finally happened. Sellers were successful in achieving the lowest level of 12.962. Currently in monthly, weekly and daily time frames price is above 5-day moving average and warns about the potential of ascending in long period of time. As it is obvious in the picture below, price with formation bottom price of 124.962 has prepared the field for ascending of price and with closing of yesterday bullish candle, the bottom price of 128.576 and ascending mode was recorded.

 

Currently according to the technical signs in weekly and daily time frames, there is not any clear reason for descending of the price and the firs warning for decreasing of price is formation of reversal candle or bearish candle in 4H time frame. According to the current price condition, if the top price of 131.000 breaks, there will be the potential for more ascending and reaching to the pivot resistance level of 132.400.

 

eurjpydaily.jpg

 

FxGlory

2013.07.09

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Technical analysis of EUR/USD dated 10.07.2013

 

EUR/USD from the middle of previous month till now was in strong and without reformation downtrend that sellers were successful in achieving the lowest price level of 1.27538. Right now in long term time frames there is not any clear reason for increasing of the price and price with being under 5-day moving average in monthly, weekly and daily time frames warns about decreasing of price during the next candles. Currently price has reached to the supportive levels’ range (made of 2 bottom prices) during the price downfall that with exit of some sellers from their trades, price was a little decreased.

 

With formation of bottom price of 1.27538 (formation of hammer candle stick pattern and star pattern that shows Vulnerability of downtrend), there is a warning for formation of a successful bottom price and ascending of price in this supportive range. If this bottom price records (closing of ascending candle), this signal will be stronger. RSI indicator is in saturation sell area and in divergence mode with the price chart confirms the mentioned bottom price and warns about changing price direction. Generally according to the current situation, if the bottom price of 1.27538 records, the price will have the potential in reaching to the weekly pivot.

 

eurusdh4.jpg

 

FxGlory

2013.07.10

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Technical analysis of Gold chart dated 11.07.2013

 

As it was mentioned in the previous technical analysis of Gold chart dated 28.06.2013, according to the formed signs, there was the potential for ascending of price which finally happened. Buyers (notice of buyers to the round level of 1300.00 as target price) were successful in achieving the highest price of 1298.48. Right now price is over 5-day moving average in daily and 4H time frames and warns about more ascend.

 

With formation of Inverted Hammer candlestick pattern in weekly time frame, there is a warning for Vulnerability of downtrend and formation of a bottom price. In case of closure of bullish candleat the end of this week, Morning Star candlestick pattern will be created on the chart which is an important warning for changing price direction. Indicator RSI is in saturation sell area which confirms the created bottom price and warns about increasing of price. Generally according to the current situation until the bottom price of 1180.41 (D harmonic point) is preserved m there is a potential for ascending and increasing of the price in long period of time.

 

goldweekly.jpg

 

FxGlory

2013.07.11

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Technical analysis of EUR/AUD dated 12.07.2013

 

EUR/AUD since 03.04.2013 was in strong and consistent uptrend with small price reformations. Buyers during this uptrend were successful in achieving the highest price of 1.44025, And with reaching to the resistance levels made of 2 top prices ( in 2011) have tested these levels and were not able to reach to higher levels so the price has stopped from more ascending. As it is obvious in the picture below, between the bottom price of 1.16020 and top price of 1.44025 , there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that with completion of the D point , there is a warning for stopping of uptrend and changing price direction.

 

 

According to the type of formed candles like Hanging Man and Engulfing candlestick patterns in green color area warns about Vulnerability of uptrend and formation of a top price and decreasing of the price. Stoch indicator in weekly time frame is in saturation buy area and with the next cycle warns about the potential of changing price direction during the next weeks. Currently the first warning for decreasing of price is breaking of the supportive level of 1.42299. Generally until the D point in weekly time frame is preserved, there is a potential for price reformation and descending.

 

euraudweekly.jpg

 

2013.07.12

FxGlory

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Technical analysis of EUR/AUD dated 12.07.2013

 

EUR/AUD since 03.04.2013 was in strong and consistent uptrend with small price reformations. Buyers during this uptrend were successful in achieving the highest price of 1.44025, And with reaching to the resistance levels made of 2 top prices ( in 2011) have tested these levels and were not able to reach to higher levels so the price has stopped from more ascending. As it is obvious in the picture below, between the bottom price of 1.16020 and top price of 1.44025 , there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that with completion of the D point , there is a warning for stopping of uptrend and changing price direction.

 

 

According to the type of formed candles like Hanging Man and Engulfing candlestick patterns in green color area warns about Vulnerability of uptrend and formation of a top price and decreasing of the price. Stoch indicator in weekly time frame is in saturation buy area and with the next cycle warns about the potential of changing price direction during the next weeks. Currently the first warning for decreasing of price is breaking of the supportive level of 1.42299. Generally until the D point in weekly time frame is preserved, there is a potential for price reformation and descending.

 

euraudweekly.jpg

 

2013.07.12

FxGlory

 

you labeled it as ABCD and I am looking at a probable five waves up to end with the new highs.........or mayber you are using Gartley for that?

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Technical analysis of EUR/GBP dated 15.07.2013

 

EUR/GBP in recent weeks, has been experienced many reformation with a gradual upward trend that Buyers over price increases obtained the highest price of 0.86953. Currently in long-term time frames such as monthly / weekly and daily price is above the 5-day moving average which implies consistent uptrend with potential of further rise in price during the next candles.

 

As it is shown in the picture below, price has been stopped from ascending during the uptrend from D harmonic pattern point (warning for increasing of price in the previous analysis of 06.09.2012 ), and with reaching to the descending trend line, it is ready to test it again. Currently there is not any clear reason for descending of price in long period of time and the first warning for descending of price is formation of a top price and confirming of it in weekly time frame. If the descending trend line breaks, there is a warning for ascending of price and reaching to the resistance level of 0.88189.

 

eurgbpweekly.jpg

FxGlory

2013.07.15

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Technical analysis of AUD/USD dated 16.07.2013

 

AUD/USD was in a strong and consistent downtrend during the recent months that sellers were successful in obtaining the lowest price of 0.89991. price with reaching to the supportive level which is shown in the picture below ( made of 2 bottom prices) and the important round level of 0.90000 has stopped from more descend( sellers used this level to exit their trades) and with formation of a bottom price in daily time frame has prepared a field for ascending of price. According to the previous week changes, previous week candle was closed as Inverted Hammer candlestick pattern which shows vulnerability of descending trend and potential for formation of a bottom price in this range.

 

As it is obvious in the picture below, between the top price of 1.08553 and bottom price of 0.89991 there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 that warns the potential of ascending from the D point of this pattern. RSI indicator is in saturation sell area in daily time frame and in divergence mode with the price chart that warns about changing price direction during the next days. In weekly time frame Stoch indicator is in saturation sell area and with the next cycle confirms the bottom price of 0.89991. Generally according to the current situation, until the bottom price of 0.89991is preserved, there is the potential for ascending of price and reformation of descending trend.

 

audusdweekly.jpg

FxGlory

2013.07.16

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Technical analysis of AUD/JPY dated 17.07.2013

 

As it was mentioned in the previous technical analysis of AUD/JPY dated 19.06.2013, according to the formed signs, there was the potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 93.058. Price has been stopped from more ascend with reaching to the specified resistance level (conversion level) and also the round resistance level of 93.000 (buyers use these levels to exit their trades) has formed a top price and returned to the ascending trend line. As it is obvious in the picture below, points of 3 and 5 on ascending trend line are in important supportive range dated back to 2011.

 

Currently in daily time frame price with touching the ascending trend line (made of 4 price levels) and forming a bottom price has prepared a field for ascending. Stoch indication in weekly and daily time frame is in saturation sell area and with the next cycle confirms the 5th point of ascending trend line and warns about ascending during the next candles. Generally according to the current situation, until the bottom price of 88.897 is preserved, price has the potential for reformation of downtrend.

 

audjpydaily.jpg

FxGlory

2013.07.17

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Technical analysis of GBP/CAD dated 18.07.2013

 

GBP/CAD since 1998 was in a long term and strong downtrend which is currently among the lowest prices. Sellers could achieve the lowest price of 1.48320 during this downtrend. As it is shown in the picture below, price with creating a top price on 25th of previous month (formation of Doji candle stick pattern as a top price) at the resistance edge of ascending channel finally decreased and with reaching to the supportive line of ascending channel has stopped from more descending. Currently in daily time frame, price with reaching to the ascending trend line and forming the third point of ascending trend line has increased.

 

Price in monthly and weekly time frames is above 5-day moving average and warns about the potential of ascending in long period of time. According to the formed movements in the previous week, there is a Spinning Top candlestick pattern which shows indecision marker for ascending or descending and there is a warning for stopping of more descending.Stoch indicator with the ascending cycle confirms the third point of ascending trend line and warns about the potential of ascending during the next candles. Breaking the descending trend line (made of 2 resistance level) in 4 H time frame is the first important warning for ascending of price in current situation. Generally according to the current condition of this currency pair, there is the potential of ascending and reformation of the downtrend in long period of time.

 

gbpcaddaily.jpg

FxGlory

2013.07.18

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Technical analysis of USD/JPY dated 19.07.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 30.05.2013, according to the formed technical signs, there was the potential for reformation and descending of price which finally happened. Currently in monthly, weekly and daily time frames price is above 5-day moving average that warns about the potential of ascending of price during long period of time. The price is now surrounded with both ascending and descending trend lines which is one of the most important supportive and resistance levels in front of price.

 

As it is obvious in the picture below, between the top price of 101.523 and the bottom price of 98.270, there is Gartley harmonic pattern that with completion of the D point (formation in resistance edge of number one weekly pivot) there is a warning for descending of price.Stoch indicator in 4H time frame is in saturation sell area and warns about more possibility in decreasing of price. Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.

 

usdjpyh4.jpg

 

FxGlory

2013.07.19

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Technical analysis of Silver dated 22.07.2013

 

As it was mentioned in the previous technical analysis of Silver dated 01.07.2013 , according to the technical signs in the price chart, there was the potential of descending of the price which finally happened. Doubt of buyers and also the strong descending of price since the end of 2012 prevented ascending of price from the bottom price of 18.22. currently price with touching the ascending trend line ( made of 2 bottom prices) and creating the third point on the level of 19.25 has prepared the field for more ascending during the next candles.

 

as it is obvious in the picture below , the most important resistance level before the price is the conversion level of 20.19( from supportive to resistance) that prevented increasing of price till now and it is the first target price for ascending of price. Stoch indicator in weekly time frame is in saturation sell area and also in divergence mode with the price chart warns about changing price direction. Generally according to the current situation of price, until the bottom price of 18.22 in daily time frame is preserved, price will have the potential for ascending and reformation in descending trend.

 

silverweekly.jpg

 

 

FxGlory

2013.07.22

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Technical analysis of USD/CHF dated 23.07.2013

 

As it was mentioned in the previous technical analysis of USDCHF dated 14.06.2013 , according to the formed signs, there was the potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 0.97490.currently according to the recent downtrend and closing of bearish candles in long term time frames such as monthly, weekly and daily, there is not any clear reason for ascending of price and with breaking of the current supportive level of 0.93230, there is the possibility of more descending and moving of price toward the ascending trend line.

 

Price has been stopped from more descending during the downfall from the top price of 0.97490 and reaching to the specified supportive level in the picture below and also supportive level of weekly pivot number one (sellers used this level to leave their trades) and with formation of a bottom price in 4H time frame (formation of star candlestick patterns which shows indecision market for ascending or descending) warns about changing price direction.

 

As it is obvious in the picture below, between the top price of 0.97490 and the bottom price of 0.93230, there is Three Drives harmonic pattern with ideal ratios that warns the potential of ascending from point number 3. RSI indicator is in saturation sell area and in divergence mode with the price chart, warns about formation of a bottom price. Currently if the resistance level of 0.93687 breaks, there is a warning for ascending of price in this chart.

 

usdchfh4.jpg

 

FxGlory

2013.07.23

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Technical analysis of AUD/USD dated 24.07.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 16.07.2013 , according to the formed technical signs, there was the potential for ascending and descending of price which finally ascend. Buyers were successful in achieving the highest price of 0.93171. Price has been stopped from more ascending with reaching and testing the descending trend line made of 4 resistance points and also resistance level of number one and when some buyers left their trades (using these resistance levels as target); the price decreased and was under 5-day moving average .

 

Stoch indicator in 4 H time frame is in saturation sell area and in divergence mode with the price chart that confirms the top price of 0.93171 and warns about the possible downfall during the next candles. Generally in current situation, in the short period of time until the top price of 0.93171 is likely to remain constant;there is the possibility of downfall to weekly pivot line in the level of 0.91689. Considering the price of long-term time frames such as weekly, there is the potential for descending and ascending in long term time frames( the first warning is formation of a bottom price in 4H time frame).

 

audusdh4.jpg

 

FxGlory

2013.07.24

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Technical analysis of NZD/USD dated 25.07.2013

 

As it was mentioned in the previous technical analysis of this currency pair dated 27.06.2013, according to the formed technical signs, there was the potential for changing price direction which finally the price ascends. Buyers were successful in achieving the highest price of 0.80228. As it is obvious in the picture below, Price has passed the descending trend line made of 2peak prices and with being above 5-day moving average warns about more ascending.

 

Stoch indicator in weekly time frame is in saturation sell area and in divergence mode with the price chart that warns about the potential of ascending during the next candles. If the price ascends more, one of the buyers’ targets and the next resistance level will be number one weekly pivot of 0.80400 and 0.81000. According to the current situation there is not any clear reason about descending of price in long term time frames. The least sign for descending of price is formation of a top price and recording of it in daily time frame.

 

nzdusddaily.jpg

 

FxGlory

2013.07.25

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Technical analysis of USD/CAD dated 26.07.2013

 

USD/CAD since the first days of this month with creating a top price of 1.06084 has started to descend. According to the recent downfall, price is under 5-day moving average that shows a strong and consistent descending trend. Currently price has touched the ascending trend line made of 2 bottom prices and with exit of some sellers from their trade; there is a hammer candlestick pattern in 4H time frame which is the price reaction to this supportive level. According to the recent pressure of selling there is a need of confirmation with closing of a bullish candle, otherwise this pattern is not much reliable.

 

As it is obvious in the picture below, between the top price of 1.04403 and the bottom price of 1.02528, there is a butterfly harmonic pattern that with completion of the D point there will be a warning for increasing of the price. RSI indicator is in saturation sell area and in divergence mode with the price chart that warns about changing price direction. Generally the first warning for ascending of price is breaking of 1.02871 resistance level.

 

usdcadh4.jpg

 

 

FxGlory

2013.07.26

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    • Date: 12th November 2024. Market Buzz: Trump Trade Impact! “Trump trade” has boosted the US Dollar and US stocks, but Trump’s policies may have less favorable effects on global assets. Trump’s plan to raise tariffs is expected to negatively impact economies worldwide, especially exporters like China. Asia & European Sessions:   Bitcoin Surge! Bitcoin broke $90K, driven by Trump trade once again. Bitcoin is up roughly 110% in 2024, helped by robust demand for dedicated US ETFs, interest rate cuts by the Federal Reserve and Trump’s cryptofriendly agenda. Crypto market capitalization has exceeded its pandemic-era peak, reaching $3.1 trillion. Traders are betting on Bitcoin reaching $100,000 by year-end, according to data from the Deribit exchange. Open interest — or outstanding contracts — for CME Group Inc. futures for Bitcoin and second-ranked Ether (ETHUSD) scaled records on Monday, a sign of growing engagement by US institutional investors. Asian shares dropped, alongside European and US equity futures, as traders evaluated the implications of President-elect Donald Trump’s policy agenda and potential cabinet choices. The MSCI Asia Pacific Index fell for a third consecutive day, driven by rising Treasury yields amid concerns that Trump’s proposed tax cuts could increase inflation. There are also reports that Trump is considering two individuals for prominent roles in his administration with track records of criticizing China. DAX and FTSE100 are down -1.1% and -0.5% respectively, after a pickup in German HICP inflation and higher than expected UK wage growth dampened easing expectations. Investors await the US CPI report for insights into the Fed’s easing path, as Trump’s inflationary policies may lead to fewer rate cuts. Financial Markets Performance:   The USDIndex continues to rise and is currently at 105.75. It hit a 1-year high. EURUSD drifts to 1.0620 and GBPUSD is in a sell off, currently at 1.2800. Oil prices fell after their biggest 2-week decline, amid a weak demand outlook from China, a stronger US Dollar, and concerns over a potential oversupply. Crude oil has traded within a narrow range since mid-last month, influenced by Middle East tensions, the US election, and OPEC+ output decisions. Gold remains under pressure and is currently at just $2604.36 per ounce. It hit a one-month low, down 5% since Trump’s election victory, as a strong dollar and US equity rotation pressured the metal. Gold’s decline was also technical, breaking below the 50-day moving average, causing funds to cover long positions. Despite recent drops, gold remains up 25% for the year, supported by central bank purchases and geopolitical risks. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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