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Thread: ForexTechnical Analysis(FxGlory.com)

  1. #11
    FXGLORY is offline Senior Member
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    Technical analysis of AUD/USD 11.05.2012

    The AUD/USD currency pair has been in a strong descending trend from 30th of April. Right now, this currency pair is got stuck in the ascending trend. In the weekly chart of this currency pair, you can draw a supportive level which is preventing the falling of the price by connecting two bottoms of the price.

    It is soon that we think this descending trend is finished and an ascending trend starts. But, by analyze of the daily and weekly charts we can find some signs of finishing of the descending trend and start of a reformation in the price.

    In picture number two, as you can see, there is a descending channel price which is reached to the supportive level and causes the formation of two important “Candle stick patterns”:
    • Inverted Hammer Pattern
    • Harami Pattern


    Both of these candle stick patterns issue the warning of “bottom price” and the possibility of an ascending from them which is the symbol of sellers’ failure. Moreover, the price is in the situation of saturation also the Stoch indicator confirms this and issues a signal for formation of a “bottom price” with its waves.

    On the whole, by considering the severe falling of the price and without a chance of reformation from 30th of April, we can expect an ascending in the price and reformation of the descending trend from this bottom price until the price reaches the 1.00209 level.

    The most important resistance and supportive levels:

    R2= 1.01411

    R1= 1.02234


    S= 1.00209


    Written by the technical team of FxGlory



  2. #12
    FXGLORY is offline Senior Member
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    Daily technical analysis of USD/JPY

    The USD/JPY currency pair broke its descending trend in weekly chart after several years. You can see the descending trend line of this currency pair with 5 top prices which is finally broker after passing of the price from this line.

    In the weekly chart, the price formed a hammer pattern which indicates the possibility of formation of a bottom price in this area and therefore causes an ascending in the price. Also, locating of Stoc indicator in the saturation area of selling empowers this theory. The hammer candle stick is formed in a transformative level which is drawn in the picture 2 increase the accuracy of the warning about the end of descending trend. As far as the existence of the 79.535 and 79.429 as the price levels which prevent the falling of the price we can expect the ascending of the USD/JPY.


    Written by the technical team of FxGlory



  3. #13
    FXGLORY is offline Senior Member
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    A test for the price reformation

    The currency pair of NZD/USD is right now in the selling saturation area. Also, some small ascending jumps, which are shown in the 1m time frame, are good reasons of making cash the sellers’ orders and the exiting of them from their orders.The drawing fork in the below chart, shows its power when its first signal was issued (facing with supportive line) and help the price to jump to the middle lines. However, because of the descending trend the price could not reach the middle line and fell. The fell shows that this descending trend is continuing.

    Right now, a hammer candle stick is formed in the 4h time frame which shows that a bottom price is forming in this point and of course causes an ascending in the price.The situation of the RSA indicator is saturation of selling and with the price it looks in a divergence situation which is a warning for the ascending of the price.We can expect as far as this supportive level of 0.77490 is effecting, the price could reform its strong previous descending trend.


    Written by the technical team of FxGlory Brokerage



  4. #14
    FXGLORY is offline Senior Member
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    Daily technical analysis of USD/JPY

    As we mentioned in the previous technical analysis of FxGlory about USD/JPY currency pair, there were some evidence about starting an ascending trend of the price and the end of the descending trend. Right now, our previous predication comes to reality and the price started to go up from 9th May.

    We can find out from the weekly chart of this currency pair that this ascending trend will continue its movement or not. According to the signs which we can see in the market, we can expect the continuity of this ascending trend. As you can see in the below picture the price is closed above the average of the changes of recent 5 days and until when the supportive level of 79.421 is there and plays the role of a bottom price, there is the hope of starting of an ascending trend of the price and reaching the important resistance level of 81.700

    Written by the technical team of FxGlory Brokerage


  5. #15
    FXGLORY is offline Senior Member
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    Technical analysis of USD/CHF 05.17.2012
    Written by the technical team of FxGlory Brokerage


    The price continued its ascending trend without any special reform in it, after itascended in third point of ascending trend line on 1st of May. Right now, by considering the rules of trend lines and channels, we can draw an ascending channel of the price in this currency pair.

    As you can see in the below picture we drew this channel to have a clear view for predicting the market movement. By considering formation of Rickshaw Man Pattern we can easily understand that the market cannot decide about its next movement and there is the possibility of formation of a top price and consequently the fall of the price. Also, because the Stoch indicator is located in saturation buying area, there is the possibility of descending of the price and reforming of the ascending trend which has been begun now.


  6. #16
    FXGLORY is offline Senior Member
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    Technical analysis of USD/CHF 05.21.2012


    The USD/CHF has formed a top price on the supportive level which is indicated by red line and also the price is closed under the average of last 5 days. As we mentioned in our last technical analysis about this currency pair, there was the possibility of formation of a reformof the price and formation of a top price in this area. Due to some basic news this reform and formation happened with a delay.

    Considering that the price is reached the resistance level of the ascending channel in daily time frame and also, the descending movement of Stoch indicator and finally, the formation of a top price in this area, it is much risky to open a buy position now.

    Until when this top price and resistance level of 0.94971 are not broken, there is the possibility of falling of the price and reform of the previous trend. We can mention the supportive level of 0.93361 as one of next most important supportive levels.


  7. #17
    FXGLORY is offline Senior Member
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    The currency pair of USD/CAD 22.05.2012

    This currency pair has been in an ascending trend and without reformation trend since 30th April. By considering the daily chart and from the technical point of view we can expect that this trend reform its previous movement. Considering the Hanging Man pattern on 18th May and the next day candle which is a descending candle, on the whole make a descending pattern which is the sign of the fall of the price. Stoch indicator is also in the saturation buying area and it is expected to start is falling movement.

    As far as when the resistance level of 1.02400 is not broken we can expect the reformation of the price and its return to the lower price.Right now, most of the buying signals in the smaller timeframes are so risky to be successful because in the daily time frame there is the possibility of the falling of the price.


    Written by the technical team of FxGlory Brokerage

  8. #18
    FXGLORY is offline Senior Member
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    Technical analysis of USD/JPY 23.05.2012


    Thus USD/JPY currency pair after reaching the resistance level, which is determined in the picture, reacted well to this level. The candle which is closed on this line has a long shadow which is the sign of defeat of buyers in front of sellers. Right now, this currency pair is surrounded by two supportive and Resistance lines which we can use them in next analyses.Considering that the Stoch indicator is located in saturation area of sell and as far as the bottom price and the important supportive level of 79.000 is not broken, we can expect the ascend of the price. Right now, until we do not see the sign of ascending movement in the time frame of 4 hours, we cannot expect ascend of the price.

    The most important supportive and resistance levels:

    R2: 80.546

    R1: 80.142


    S1:79.404

    S2:79.000



    Written by the technical team of FxGlory Brokerage

  9. #19
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    Does the gold ascend during this week?

    The gold started falling after reaching the descending trend line which is indicated by the black line on 1st of May. Right now, the price is located in the area of the supporting lines and levels which prevent more falling of the price. This situation is easily understandable by considering the formation of the candles with long below shadows. Right now, until when the green supportive line is not broken, we can expect ascend of the price to the resistance black line, at the first stage, and then to the red resistance line.



    Written by the technical team of FxGlory Brokerage

  10. #20
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    Technical analysis of GBP/USD 29.05.2012

    Right now, the GBP/USD is in the area of supportive levels after its fall on 30th of April. Therefore, the sellers are not any more so sure that this descending trend will continue. As you can see in the below picture, this descending trend and fall was predictable from 30th of April and it was one of the signs of wolf waves which right now, is complete and the price is reached to the determined target.

    Currently, the price is located in the saturation area of sell and the stoch indicator confirms this too. Also, the possibility of an ascending cycle is clear in this indicator but because this warning is not in the same way with the weekly time frame, we can consider this warning as a weak ascending reform.

    In the area of green tape which is the supportive level of the price, the pattern of Doji is formed which is a good reason for the reverse of the price. But this candle does not have its own confirmation which is ascending candle, however, the dominant trend and movement of the market is descending trend in this situation. Until when the green tape is in the GBP/USD chart, we have the hope of the reform of the previous trend although, it may be a fragile and weak reform.


    Written by the technical team of FxGlory Brokerage

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