Daily Technical Analysis by PipSafe - page 11
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EUR/USD during the recent month was in a strong downtrend that sellers were successful in achieving the lowest price of 1.23600.According to the formed price movements in the chart, there is a Gartley harmonic pattern between the bottom price of 1.23600 and top price of 1.26000 that warns about descending of the price.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.
Right now, the price is trying to the green supportive level to reform itself and then start its ascending movement, but because of the pressure of the selling and powerful descending trend(Down trendline + harmonic pattern), this try has not been successful yet. The least sign for ascending of price is formation of a bottom price and recording of it in H4 and daily time frames.
AUD/NZD from the top price of 1.13021 was in a strong descending trend without reformation that could record the bottom price of 1.07615.As it is obvious in the picture below, price during the descending has touched the Up Trendline (made of 3 bottom prices) and also the s1(pw)of 1.07685 and has created the hammer candlestick pattern. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.According the general ascending trend and not observing a clear technical reason for ascending of price in long term time frames such as monthly and weekly, if the price level of 1.07615 breaks, the price will have the potential of reaching to the support range in this currency pair.
s2(wp)1.06988
s3(wp)1.05781
obvious in the picture below, between the bottom price of 1.07615 and the top price of 1.13021 there is ABC harmonic pattern with the ratio 161.8 that by completing the end point of this pattern, there will be a warning for forming of a bottom price.Generally the first sign for ascending of the price is formation of a bottom price and recording of it in daily time frame.
As it is mentioned in previous technical analysis of this metal in 17.11.2014, according to the symbols that were formed in the chart, it was possible that the price in this metal decreases and finally it happened(max=1220.872). Price during the downfall with reaching to the Up Trendline(made of 2 bottom prices) and support level (R=S) of Andrews’ Pitchfork has stopped from more descend and has formed a bottom price(Hammer patterns) in the level of 1132.765
As it is obvious in the picture below, price with formation of AB=CD harmonic pattern with ideal ratios of 76.8 and 127.2 has prepared the field for ascending of the price from bottom price of 1132.765 that finally happened.RSI indicator in weekly time frame is in saturation sell area and in divergence mode with the price chart that with the next cycle confirms the current bottom price and warns about the potential of ascending during the next candles.The first important warning for descending of the price is breaking of Up Trendline. Generally until the bottom price of 1132.765 is preserved, there is the possibility of increase and ascend of price.
Gold Chart 2014.12.02
USD/RUB was in a strong and consistent uptrend during the recent months that buyers were successful in achieving the highest price of 54.90925.Right now in long term time frames such as monthly ,weekly and daily there is not any clear reason for increasing of the price and price with being above 5-day moving average in monthly, weekly and daily time frames warns about increasing of price during the next candles.According to the formed price movements in the chart, between the bottom price of 41.206726 and top price of 54.909252 ,there is AB=CD harmonic pattern with ideal ratios of 50 and 200 that with completion of the D point there will be a warning for descending of price.
Stoch indicator is in saturation buy area and in divergence mode with the price chart confirms the mentioned top price and warns about changing price direction.In the range of the D point, there are Hanging Man and spinning top candlestick pattern which is not a good sign for the buyers that there is the possibility for formation of a top price.Please note that Currently There is no clear and important sign(in daily and weekly TF) for descending of the price and the least sign for price reformation and increasing of the price is formation of a top price in daily time frame.
EUR/GBP during the recent days was in a strong and consistent Downtrend that sellers were successful in achieving the lowest price of 0.78317.Right now price in long time frames such as monthly and weekly is above 5-day moving average and warns about price increase in long period of time.As it is obvious in the picture below, price during the descending has touched the Up Trendline (made of 4 bottom prices) and also the S3(WP) level of 0.78317, stoped of more downtrend and on the whole there is possibility of formation of a bottom price and changing price direction.
As it is obvious in the picture below, there is a harmonic Gartley pattern between the bottom price of 0.78317 and the top price of 0.80374 that there is a potential for changing price direction from D point of this pattern.Stoch indicator is in saturation sell area that confirms the current bottom price and warns about ascending of price during the next candles.Generally until the mentioned bottom price on the Up Trendline is preserved, the price has the potential for reformation and ascending in this currency pair.
AUD/CAD in recent weeks, has been experienced many reformation with a gradual Downward trend that sellers were successful in obtaining the lowest price of 0.95000.price with reaching to the supportive level which is shown in the picture below( the important round level of 0.95000) has stopped from more descend( sellers used this level to exit their trades) and with formation of a bottom price(Hammer Pattern) in daily time frame has prepared a field for ascending of price.
according to the recent descend the daily candle in previous day was appeared as Hammer candlestick pattern that shows failure of sellers in reaching to the lower prices that for confirmation it needs closing of a bullish candle.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.One of the important or the first warnings for increasing of is breaking of resistance level of 0.95738( top level of price changes in the previous daily candle).
EUR/USD chart has experienced a strong descending trend during the recent Days that could record the bottom price of 1.22486.as it is obvious in the picture below , price has been stopped from more descending with reaching to the Up Trendline( made of 2 bottom prices) and has formed a bottom price.As it is obvious in the picture below between the top price of 1.25993 and the bottom price of 1.22486, 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 Crab pattern in CD wave), there is a potential for ascending of price.RSI indicator is in saturation Sell area and in divergence mode with the price chart in H4 time frame that confirms the price level of 1.22486 and warns changing price direction during the next candles.Generally until the price level of 1.22486 is preserved, price will have the potential for reformation and ascending.
CHF/JPY was in a strong ascending trend and without reformation that could record the top price of 124.567 which is the next nearest resistance level of this currency pair.This currency pair by reaching to the obstacle such as the Fibonacci level of 2.24 (resistance level) and the round price level of 124.500 has been stopped from more ascend that shows buyers used this price level to exit their trades.
Currently in daily time frame with formation of Dark Cloud Cover candlestick pattern (the failure of buyers in reaching to the higher prices) price has been stopped from more ascending and there is a possibility of formation of a top price and finally descending of the price.As it is obvious in the picture below, between the bottom price of 111.214 and the top price of 124.567 there is ABC harmonic pattern with the Fibonacci ratio 2.24 that warns about descending of the price.RSI indicator in this time frame and in Weekly time frame is in saturation buy area and in divergence mode with the price chart that warns about the potential of changing price direction and a price reformation.
AUD/USD had a strong and without reformation descending trend during the recent weeks and could record the bottom price of 0.82295.As it is obvious in the picture below, the price has been stopped by reaching to the supportive line which is made of 2 bottom prices and has recorded the bottom price of 0.82295 on this line (Spinning Top Pattern). According to the strong downfall of price from the top price of 0.93921, it seems that the price is saturation sell area and there is the possibility of price reformation.
As it is obvious in the picture below, there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 between the bottom price of 0.82295 and the top price of 0.975442 that warns changing price direction from D point.Stoch indicator is in saturation sell area and confirms the harmonic D point and potential for ascending of the price.The first warning for ascending in this currency pair is breaking of the Resistance level of 0.833727.Generally until the Support level of 0.82295 on supportive line is preserved, the price has the potential for reformation and ascends in this currency pair.
NZD/USD since 11.07.2014 was in a strong and without reformation downtrend that shows the certainty of the sellers in achieving the predetermined goals. Sellers during this downtrend were successful in achieving the lowest price of 0.76056.Price during the Increase by reaching to the Down Trendline(made of 3 top prices)also the R1-WP has been stopped from more ascending and right now some of the buyers by reaching to these resistance levels started to cash their trades.
According to the formed price movements in H4 time frame, there is a Bat harmonic pattern between the top price of 0.78701 and the recent ascending that by completing the D point of this pattern ,there is a warning about stopping of ascending of the price.Stoch indicator in 4H time frame is in saturation buy area and with the next cycle warns about descending 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 the price should break Down Trendline and pass it.