ForexTechnical Analysis

[FXGLORY]

Technical analysis of EUR/USD currency pair 05.03.2012

When the price reached the descending trend line, which is drawn in the picture, on 1st of May, the price was starting falling. This movement was exactly what all technical traders predicted about the market’s movement. Right now, we can see in the daily chart that the price is going to fall and there is not any evidence of ascending trend. The daily candle is closed under the average of 5 days and it shows the price is going to start a descending movement, even a small one, to reach the supporting trend line which you can see in the below picture. Also, by using Stoch indicator again we see that the price wants to fall and we see the possible falling signal in this indicator. If, according to these hypotheses, the price started its descending movement, it would reach the supporting trend’ line at least.

[FXGLORY]

Technical analysis of USD/CAD currency pair 05.04.2012

Right now, in the daily chart of this currency pair the dominant trend of the market is the descending trend which is weak. Considering the strong ascend of the price on 07.24.2012, this descending trend is like a reformation of the price. In this time frame, the price is surrounded by two resistance lines which are determined by the red and blue color which played their role very well for several times.
Whenthe price reached the blue resistance line on 26th and 27th of April, it lost its power for more descending and fall, also this resistance lines prevent more descend movement of the market.
Right now, there is a possibility for an ascendingmovement of the price and reaching the red resistance line. Also the Formationof a positive divergence between the price and RSA indicator empower this possibility.

The most important resistance and supportive levels:

R= 0.98990
S= 0.98300

Written by the technical team of FxGlory Brokerage

[FXGLORY]

Technical analysis of EUR/USD 07.05.2012

As we predicted in our last technical analysis on EUR/USD, this currency pair started a descending trend from 1st of May and reached the minimum goal which was predicted by the analyzers for this trend.

Right now, this currency pair is located in very important supportive levels which prevent more falling of the price. At this moment, there is a Hammer candle stick pattern in 4h time frame which shows that the seller are forces to retreat temporarily and also shows the price is going down.

Please consider that, price is out of the selling area and some of the sellers tend to cash their positions. Also, It is possible that the price reform this descending trend partly.

Written by the technical team of FxGlory Brokerage

[FXGLORY]

The technical analysis of USD/CHF 08.05.2012

The ascending of the price of USD/CHF on 1st of May was under the influence of an ascending trend as we mentioned it in our former technical analysis. Right now, the price passed the resistance level which is determined in the below picture and it registered the new price 0.92653. After the registration of a new price, the buyers will start making cash their trades and finally this will cause the fall of the price. Afterthe fall, the price will be stopped in the change of polarity level (after breaking of the red resistance level becomesthe supportive line) which is determined by the blue color.

Change of polarity level which right now is considered as the supportive line is playing its role very well. When the change of polarity line plays its role as a supportive line, it is helped by an ascending trend line. This ascending trend line, also, issued a warning of ascend and jump of price.

Right now, these two elements are preventing the falling of the price and therefore, they create a bottom price in this area. As far as remaining of the price in this level (0.91945), we cannot expect ascending of the price to the 0.92500 level.

Written by the technical team of FxGlory Brokerage

[FXGLORY]

Technical analysis of EUR/USD 09.05.2012

As we mentioned in our previous analysis EUR/USD was located in saturation area of sell and according to our prediction the price started its ascending movement. Right now, this currency pair has reached the supportive levels which it was not able toreach these levels on 7th of May. We predict that as far as these supportive levels are preventing fall of the price, the buyers like to reach and even pass this supportive line which is determined by red color in the following picture.

The price is in the situation of ***8220; sellsaturation***8221; and we expected that EUR/USD reforms its previous trend. If this reformation of the price could create a good gap between itself and the supportive levels, the price would start an ascend.In this moment, the sellers are waiting to see the reaction result of the price to these supportive levels.

Written by the technical team of FxGlory Brokerage

[FXGLORY]

Technical analysis of USD/CHF 10.09.2012

The USD/CHF currency pair is in an ascending trend right now. This ascending trend has been started on 1st of May from the third point. if the ascending trend line which we predicted in our last analysis about USD/CHF.

At the present moment, the ascending trend is stopped and it is obvious that there is an important resistance level which you can see it in the below picture. This transformative level has been tested twice and it was successful to issue the warning of falling of the price. In the 4H time frame a top price is forming and between considering different candles which are located under the resistance level we can understand that there is a war between sellers and buyers which none of them are successful to win the battle.

It is good to remember that in this time frame there is potentiality of descend of the price and formation of a reform in the price. In analyzing the 1h time frame there is a transformative level which plays the role of a supportive level and prevents the falling of the price. If the price breaks this line and passes it, it is possible that we see the descending trend and the reformation of the price.

The most important resistance levels:

R1= 0.93000

R2= 0.93350


Written by the technical team of FxGlory Brokerage

[FXGLORY]

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 ***8220;Candle stick patterns***8221;:

• Inverted Hammer Pattern
• Harami Pattern

Both of these candle stick patterns issue the warning of ***8220;bottom price***8221; and the possibility of an ascending from them which is the symbol of sellers***8217; failure. Moreover, the price is in the situation of saturation also the Stoch indicator confirms this and issues a signal for formation of a ***8220;bottom price***8221; 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

[FXGLORY]

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

[FXGLORY]

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***8217; 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

[FXGLORY]

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