Daily Technical Analysis by PipSafe - page 9
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USD/CAD had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.13871 in weekly time frame which is fixed by descending candle. Currently in some time frames such as monthly, H4 price is under 5-day moving average (a consistent downtrend) and there is not any clear reason about ascending of price in these time frames.
As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is weekly time frame which generally warns the possibility of changing price direction.As it is obvious in the picture below, between the bottom price of 1.06102 and the top price of 1.13871, there is an ideal AB=CD harmonic pattern with the ratios of 50 and 200 that warns about the potential for a price downfall from the D point.Generally according to the formed signs in the price chart until the resistance level of 1.13871 is preserved , price has the potential for reformation in this currency pair.
CHF/JPY during the recent Days could ascend with reformation and record the top price of 114.417. Right now the mentioned top price is recorded by the next descending candle and is one of the most important resistance levels in front of price.With the formation of a Shooting star and Harami candlestick pattern, there is a warning for formation of a Top price and changing direction in the chart but closing of the descending candle at the end of day is necessary for attention to this signal.
According to the formed price movements, there is AB=CD harmonic pattern with idea ratios of 61.8 and 161.8 between the top price of 114.417 and bottom price of 111.218 that warns about descending of the price from the D point of this pattern. Stoch indicator in daily time frame is in saturation buy area and confirms the harmonic D point with its possible descending cycle and warns about the potential of changing price direction during the next candles.Generally until the top price of 114.417 is preserved , there is the possibility of descending of the price during next days.
GBP/USD was in a strong and consistent Downtrend during the recent months that sellers were successful in achieving the lowest price of 1.58755. With the formation of a hammer pattern and also Spinning top candlestick pattern(weekly time frame), there is a warning for formation of a bottom price and changing direction in the chart.According to the formed price movements in the chart, there is a Gartley harmonic pattern between the bottom price of 1.58755 and top price of 1.61836 that warns about ascending of the price with completion of this pattern ending point.
RSI indicator in h4 time frame is in saturation sell area and warns about ascending of price according to the next cycle during the next candles. Generally according to the formed signs in price chart, until the bottom price of 1.59505 is preserved, there is a potential for reformation and ascending of the price in this currency pair( the first warning for ascending is breaking of the resistance level of 1.59996).
Technical Analysis of GBP/USD Dates 2014.10.31
EUR/CAD was in a strong and consistent downtrend during the recent weeks that sellers were successful in obtaining the lowest price of 1.40092.According to the formed movements in the previous week, there is a Spinning Top candlestick pattern which shows indecision marker for ascending or descending and there is a warning for stopping of more descending.
As it is obvious in the picture below, between the top price of 1.44540 and bottom price of 1.40461 there is AB=CD harmonic pattern with ratios of 50 and 161.8 that warns the potential of ascending from the D point of this pattern. Indicator RSI is in saturation sell area which confirms the created bottom price and warns about increasing of price. Generally according to the current situation, until the bottom price of 1.40092 is preserved, there is the potential for ascending of price and reformation of descending trend.
EUR/USD since 2014.05.08 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 1.24393 that if it breaks, the price will find the potential in reaching to the other important supportive level of 1.24000.
As it is obvious in the picture below between the top price of 1.28866 and the bottom price of 1.24393, there is an ideal AB=CD harmonic pattern with the ratios of 50 and 200 that with completion of the D point (also formation of Hammer pattern in D point), there is a potential for ascending of price. Generally according to the current condition and recent downtrend, until the supportive level of 1.24393 is preserved, price has the potential for ascending and reformation in this currency pair.
AUD/USD during the recent days was in a strong and consistent downtrend that sellers were successful in achieving the lowest price of 0.85529.Right now price in long time frames such as monthly and daily is under 5-day moving average and warns about price decrease in long period of time.
As it is obvious in the picture below, there is a harmonic butterfly pattern between the bottom price of 0.85529 and the top price of 0.89109 that there is a potential for changing price direction from D point of this pattern. Stoch indicator is in saturation sell area follows the bottom price of 0.85529 and warns the possibility of ascending during the next days.Generally until the bottom price of 0.85529 is preserved, the price has the potential for ascending in this currency pair.
NZD/USD was in a strong and consistent descending trend that sellers during this descending trend were successful in achieving the lowest price level of 0.76596.Currently in 1H time frame with formation of Morning star(with 2 stars) (the failure of sellers in reaching to the lower prices) price has been stopped from more descending and there is a possibility of formation of a bottom price and finally ascending of the price.
As it is obvious in the picture below between the top price of 0.80323 and the bottom price of 0.76596, there is a none ideal AB=CD harmonic pattern with the ratios of 78.6 and 161.8 that with completion of the D point (also formation of other AB=CD (78.6=127.2) pattern in CD wave), there is a potential for ascending of price.Generally according to the current situation, until the bottom price of 0.76596 is preserved, there is the potential for ascending of price and reformation of descending trend.
Silver was in a strong and consistent descending trend during the recent month that sellers during this descending trend were successful in achieving the lowest price level of 15.042.In weekly time frame the previous week candle was closed as a Hammer candlestick pattern that shows the indecision for ascending or descending. If this pattern confirms, there will be the potential for changing price direction.
According to the formed movements in the chart, there is AB=CD harmonic pattern with ideal ratios of 50 and 200 between top price of 25.087 and the bottom price of 15.042 that warns about changing price direction from the D point(Morning Star Candlestick Pattern) 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 warns the potential for ascending of the price during the next candles. Generally until the price level of 15.042 is preserved, the price has the potential for ascending and reformation.
EUR/USD chart has experienced a strong descending trend during the recent months that could record the bottom price of 1.23573.According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation.As it is obvious in the picture below, there is a none harmonic butterfly pattern between the bottom price of 1.23573 and the top price of 1.28854 that there is a potential for changing price direction from D point of this pattern.
Stoch indicator is in saturation sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next candles. Generally until the price level of 1.23573 is preserved, the price has the potential for ascending and reformation.
(GBPCHF)Price since the end of 2013 till now was in strong and consistent uptrend with a little price reformation and buyers were successful in achieving the highest price of 1.55441 .Price has formed a top price with reaching to the specified support levels 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.In weekly time frame with formation of Evening star candlestick pattern in previous candles, there is a warning for formation of a top price and vulnerability of uptrend.
As it is obvious in the picture below, there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between top price of 1.55441 and the bottom price of 1.40389 that warns about changing price direction from the D point of this pattern. Stoch indicator is in saturation sell area follows the top price of 1.55441 and warns the possibility of descend during the next candles. Generally according to the technical signs in the price chart until the mentioned Resistance levels are preserved, the price has the potential to decrease and descend.