Daily Technical Analysis by PipSafe - page 6
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As it was mentioned in the previous technical analysis of USD/CAD pair dated 2014.04.07, according to the formed technical signs, there was the potential for descending of price which finally happened. As it is obvious in the picture below, price during the descending has touched the Up trendline (made of 2 bottom prices) has created the inverted hammer candlestick pattern. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price. In daily time frame and weekly Stoch indicator is in saturation sell area and with the next cycle warns about the ascending of price from the bottom price of 1.08358.The first warning for ascending of price is breaking of the resistance level ( or the yesterday highest price change) 1.08743.Generally according to the current situation of the price chart in daily time frame until the third point of Up trend line is preserved, the price will have the potential to ascend and pass the mentioned bottom price.
Technical Analysis of USD/CAD dated 2014.06.17
EUR/NZD was in a strong and consistent downtrend during the recent days that sellers were successful in obtaining the lowest price of 1.55616.price with reaching to the supportive level which is shown in the picture below ( made of 2 bottom prices) and the round level of 1.5555 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. Formation of Inverted hammer and hammer candlestick patterns with thin body in green area shows indecision market and vulnerability of descending trend.
As it is obvious in the picture below, between the top price of 1.62873 and bottom price of 1.55616 there is AB=CD harmonic pattern with IDEAL ratios of 78.6 and 127.2 that warns the potential of ascending from the D point of this pattern. Stoch indicator in daily time frame is in saturation sell area and warns the potential for ascending and reformation according to the next cycle. Generally according to the current situation, until the bottom price of 1.55616 is preserved, there is the potential for ascending of price and reformation of descending trend.
Technical Analysis of EUR/NZD dated 2014.06.18
EUR/SGD during the recent weeks could descend without reformation and record the Bottom price of 1.68596. Price during the downfall with reaching to the supportive level of Down channel and Up trendline has stopped from more descend and has formed a bottom price in the level of 1.68596.According to the formed price movements in daily time frame, there is a butterfly harmonic pattern between the top price of 1.76640 and the recent descending that by completing the D point of this pattern, there is a warning about stopping of descending of the price.RSI indicator in Daily time frame shows the possibility of ascending candles and the first target buyers is the resistance level of 1.70382 or down trendline. There is no clear sign for descending of the price at the moment and the least sign for Down trend and decreasing of the price is formation of a top price in 4H time frame.
Technical Analysis of EUR/SGD dated 2014.06.19
As it was mentioned in the previous technical analysis of GBP/USD pair dated 2014.05.13, according to the formed technical signs, there was the potential for descending of price which finally happened. Currently price in long term time frames such as monthly and weekly time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair. According to the formed price movements in the chart, there is a Crab harmonic pattern between the bottom price of 1.66980 and top price of 1.70616 that warns about descending of the price with completion of this pattern ending point. RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for formation of a top price and changing price direction during the next candles. Generally until the top price of 1.70616 is preserved, price will have the potential for reformation and descending and If the level of 1.70179 breaks, price will have the potential for descending to the round supportive level (OR R=S Level)of 1.70000.
As it was mentioned in the previous technical analysis of AUD/NZD dated 2014.06.09, according to the formed technical signs, there was the potential for descending of price which finally happened. Sellers were successful in achieving the lowest price of 1.07435.Currently price with teaching to the up trendline ( made of 2 bottom prices) has been stopped from more descend and with forming of the hammer and inverted hammer candlestick patterns which warn the possibility of formation of a bottom price.
Stoch indicator in daily time frame is in saturation sell area and with the next cycle warns about ascending of price during the next candles and Currently if the resistance level of 1.08548 breaks, there is a warning for ascending of price in this chart. Generally until the bottom price of 1.07435 is preserved, price will have the potential for ascending and reformation.
EUR/GBP 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 0.79599. As it is obvious in the picture below, price with reaching to the supportive edge of Down channel has been stopped(Right now some of the sellers by reaching to this support level started to cash their trades. from more descend and by forming a bottom price of 0.79599 has prepared the field for ascending of price. Stoch indicator in Daily time frame is in saturation sell area and warns about price reformation according to the next cycle ( also it confirms hammer candlestick pattern).
According to the formed signs in the price chart between the top price of 0.85850 and the bottom price of 0.79599 there is an AB=CD harmonic pattern(also you can see else harmonic pattern!) with the ratios of 50 and 161.8 that from the D point of this pattern there will be a warning for changing price direction. Stoch indicator in daily time frame is in saturation sell area that confirms the current bottom price and warns about changing price direction. Generally until the price level of 0.79599 is preserved, price will have the potential for reformation and ascending.
As it was mentioned in the previous technical analysis of this currency pair dated 2014.04.01, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 1.62805.Currently price with teaching to the ascending trend line ( made of 2 bottom prices) has been stopped from more descend and with forming of the harami candlestick pattern on weekly chart, warns the possibility of formation of a bottom price which need the confirmation by the next bullish candle. According to the formed movements in the chart, there is AB=CD harmonic pattern(also you can see else harmonic pattern) with none-ideal ratios of 78.6 and 161.8 between top price of 1.62805 and the bottom price of 1.54724 that warns about the potential of ascending from the endpoint of this pattern.
RSI indicator in daily time frame is in saturation sell area and also it is in divergence mode with the price chart that confirms the created bottom price on the uptrend line and warns about the potential of changing price direction. Generally until the bottom price of 1.54724 is preserved, price will have the potential for ascending and reformation.
As it was mentioned in the previous technical analysis of Gold dated 2014.06.10, 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 1333.332 and the price is above 5-day moving. Currently in long term time frames such as monthly and weekly price is above 5-day moving average that shows a consistent uptrend in long period of time and there is not any clear reason about descending of price in these time frames.
According to the formed movements, there is AB=CD harmonic pattern with ideal ratios of 50 and 200 between the bottom price of 1240.549 and the top price of 1333.332 that warns changing price direction from D point of this pattern. RSI indicator is in saturation sell area and in divergence mode with the price chart that confirms the current top price and warns about more descends. Generally according to the current situation in 4H time frame until the top price of 1333.332 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.
EUR/NZD in recent weeks, has been experienced many reformation with a gradual downward trend that Sellers over price decreases obtained the lowest price of 1.54035.Currently in long-term time frames such as monthly ,weekly and daily price is under the 5-day moving average which implies consistent downtrend with potential of further decreases in price during the next candles.As it is obvious in the picture below, price during the descending has touched the Support Level (made of 5 bottom prices) and also the round supportive level of 1.54000 and has created the Inverted hammer candlestick pattern. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price.
As it is obvious in the picture below, there is an AB=CD harmonic pattern between the top price of 1.67810 and the bottom price of 1.54035 with none-ideal ratios of 50 to 161.8 that warns about descending of price 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 confirms the bottom price of 1.54035 warns about changing trend direction. Generally until the bottom price of 1.54035is preserved, price has the potential of ascending.
Technical Analysis of EUR/NZD dated 2014.07.14
As it was mentioned in the previous technical analysis of AUD/USD pair dated 2014.04.29, 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 0.95000.In weekly time frame of this currency pair there is no clear reason for ascending of the price and the price by being under the 5-day moving average and also descending cycle of Stoch indicator warns more descending of next candles .According to the formed price movements, RSI indicator is in saturation buy area and in divergence mode with the price chart that confirms the top price of 0.95000 and warns about changing price direction.
Currently one of the important warnings for starting the price downfall is breaking the support level of 0.93281 in daily time frame because As it is obvious in the picture below, there is an AB=CD harmonic pattern between the top price of 0.94551 and the bottom price of 0.933281 with ratios of 50 to 161.8 that warns about ascending of price from the D point of this pattern.