Daily Technical Analysis by PipSafe - page 3
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EUR/NZD in recent weeks has been in a strong and consistent trend in the price movements which Sellers have been successful in reaching to the lowest price of 1.57654. Currently the mentioned price level is fixed as a bottom price, and it is the most important Support level in front of the price.Currently price in long term time frames like monthly, weekly and daily time frames is under 5 day moving average which shows a consistent descending trend in long period of time.Price has been stopped from more descending with reaching to the supportive edge of Up Channel technical pattern (sellers use this lever to exit their trades) and starts to ascend.
In the range of formed bottom price there are Hammer and inverted Hammer candlestick pattern that shows the possibility for formation of a successful bottom price in continuing ascending trend.As it is obvious in the picture below, there is a harmonic butterfly pattern between the top price of 1.69937 and the bottom price of 1.57654 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 ascending of price during the next candles.According to the current condition the first warning for ascending of price is breaking of the resistance level of 1.59591.
EUR/USD during the recent days was in a Downtrend that Sellers were successful in achieving the highest price of 1.36727.Price by reaching to the Up Trendline (made of 2 bottom price) was not able to descend and break it in daily time frame and by creating the hammer candlestick pattern on this line shows recessing of sellers in reaching to the lower price and also the supportive level of 1.36413. As it is obvious in the picture below between the top price of 1.38749 and the bottom price of 1.36727, there is an non-ideal AB=CD harmonic pattern with the ratios of 61.8 and 127.2 that with completion of the D point , there is a potential for ascending of price.Stoch indicator in Daily 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.Generally until the price level of 1.36727 is preserved, price will have the potential for reformation and ascending.
As it was mentioned in the previous technical analysis of USD/CHF dated 2014.03.21, 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 0.89525 and after that the price has started to decrease.Right now price is over 5-day moving average in Weekly time frame and warns(in long period of time)about more ascend.
The price by reaching to the long term(Daily Time frame) down trend line ( made of 2 peak prices)dated back to the 2013 has been stopped and the buyers were unable to pass this resistance line.Formation of Hammer and Spining Top candlestick patterns with thin body in green area shows indecision market and vulnerability of descending trend.RSI indicator in H1 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.According to the current condition the first warning for Ascending of price is breaking of the resistance level of 0.88459. According to the current situation there is not any clear reason about Ascending of price in short term time frames. The least sign for ascending of price is formation of a bottom price and recording of it in H4 time frame.
As it was mentioned in the previous technical analysis of GBP/USD pair dated 2014.03.11, according to the formed technical signs, there was the potential for descending of price which finally happened.Sellers were successful in achieving the lowest level of 1.64661.Right now price is above 5-day moving Daily and H4 time frames that show an uptrend during the next candles.Price has formed a Top price with reaching to the specified resistance zone in the picture below and it has stopped from more ascend and has started a little descend with shows exit of some buyers from their trades.
According to the formed price movements in the chart, between the bottom price of 1.64661 and top price of 1.68209 ,there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that with completion of the D point there will be a warning for descending of price.RSI indicator in H4 time frame is in saturation Buy area that confirms the current top price and warns about changing price direction.Generally until the top price of 1.68209 is preserved, price has the potential of descending. Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.
USD/CHF since 29.07.2012 till now was in a downtrend that sellers were successful in achieving the lowest price of 0.86973. Price during the downfall with reaching to the important supportive level (0.87000) has stopped from more descend and has formed a bottom price in the level of 0.88358.Right now price is above 5-day moving daily time frame that show an uptrend during the next candles.
Currently in long term time frames such as monthly, and weekly , 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 0.91200 and for the next time to 50% in the level of 0.92600.
As it is obvious in the picture below between the top price of 0.99692 and the bottom price of 0.86973, there is an ideal AB=CD harmonic pattern with the ratios of 78.6 and 127.2 that with completion of the D point (also formation of butterfly pattern in CD wave), there is a potential for ascending of 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.
GBP/NZD was in a strong and consistent uptrend during the recent days that buyers were successful in obtaining the highest price of 1.96327. price with reaching to the Down Trendline which is shown in the picture below ( made of 2 Top prices) and the important Resistance level(Support to Resistance) of 1.96327 has stopped from more ascend( Buyers used this level to exit their trades) and with formation of a top price in daily time frame has prepared a field for descending of price.
According to the previous day changes, previous day candle was closed as Spining Top candlestick pattern which shows vulnerability of ascending trend and potential for formation of a Top price in this range.As it is obvious in the picture below, between the Bottom of 1.90822 and Top price of 1.96327 there is AB=CD harmonic pattern with ratios of 61.8 and 127.2 that warns the potential of descending from the D point of this pattern.Generally until the D point in daily time frame is preserved, there is a potential for price reformation and descending.
EUR/GBP in recent days, has been experienced many reformation with a gradual down trend that Sellers down price Reduced obtained the lowest price of 0.81977.As it is obvious in the picture below, price during the descending has touched the Up trendline (made of 2 bottom prices) and also the round supportive level of 0.82000(some sellers used these levels to leave their trades). and has created the Harami candlestick pattern. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.
Right now price is over 5-day moving average in H4 and H1 time frames and warns about more ascend. Stoch 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 0.81977 is preserved, price will have the potential for reformation and ascending.
EUR/AUD chart has experienced a descending trend during the recent week that could record the bottom price of 1.46553. One of the sellers’ targets was the level of 127.2 (AB=CD Pattern) that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price.
Right now price is above 5-day moving daily time frame that show an uptrend during the next candles.Formation of Shooting Star and Hanging Man candlestick patterns with thin body in green area shows indecision market and vulnerability of ascending trend.AS it is obvious in the picture below, there is an non-ideal AB=CD harmonic pattern between the top price of 1.58246 and the bottom price of 1.46553 with ratios of 61.8 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 1.49650). 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 frame(Monthly Time frame), this signal is not much valid. The first warning in this currency pair for descending of price is breaking of the supportive level of 1.46553.
Gold from the top price of 1392.716 till now was in a downtrend that Sellers were able to achieve the lowest price of 1268.477.As it is obvious in the picture below, price during the descending has touched the Support Level of 1277.658 and has created the hammer candlestick pattern. Formation of the lower long shadow(Hammer Pattern) in the last week candle shows the failure of Sellers in reaching to the lower prices. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.
Right now price is above 5-day moving Monthly and daily time frames that show an uptrend during the next candles.Currently the first warning for increasing of price is breaking of the resistance level of 1306.402. Stoch indicator in weekly time frames in saturation sell area and with the next cycle warns about ascending of price(also monthly) during the next candles. Generally until the bottom price of 1268.477 is preserved, price will have the potential for ascending and reformation.