Gold chart has been stopped from more ascending in late 2011 by reaching to the important psycho level (resistance) of 1900.00. Buyers by testing this psycho level have failed and eventually forced to retreat and abandon the market to the sellers. Right now price during the downfall from the mentioned top price till now has appeared as an ACD price reformation and has been stopped by coming across to the supportive edge of downtrend channel. During this downward and price reformation sellers were successful in achieving the lowest price of 1321.42 which is the next most important supportive level and if it breaks, the price finds the potential for descending to the supportive level of 1306.00.
CAD /JPY pair from the middle of 2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 101.008. Price has been stopped from more ascend by reaching to the round resistance level of 101.00(the reason for some sellers to exit their trades) and by making a top price in daily time frame has started to reform. Right now the price level of 101.008 has recorded by the descending candles in daily time frame. According to the recent downtrend in the mentioned resistance level, there is a Hanging Man candlestick pattern in weekly time frame that warns about the potential of creating a top price and recessing of the buyers, also it confirms the round level of 101.00.
AUD/CAD since the middle of last month has experienced a strong downtrend with no significant reformation that right now sellers were successful in achieving the lowest price level of 0.99480 during this downfall. Currently this price level in 1H time frame has been established as a bottom price by a bullish candle. As it is obvious in the picture below, price is in downtrend channel in 1H time frame that by coming across the supportive edge of this channel, it has been stopped from more descending and has created a bottom price on it that warns about price reformation.
CHF/JPY since 25.07.2012 till now had a consistent uptrend that by recent ascending this currency pair is in one of the highest price levels on its own history. Buyers were successful in achieving the highest level of 107.416 and this level is recorded as a top price by the recent descends. In long term intervals (in monthly time frame) price has been stopped from more ascend by reaching to the important resistance line (made of three peak prices) and by the buyers’ doubt and exit of their trades, the price consistency for ascending has been disappeared. As it is obvious in the picture below, there is a butterfly harmonic pattern between the bottom price of 97.440 and top price of 107.416 that warns the price downfall from the D point of this pattern and has been prevented from more increase till now.
AUD/NZD has experienced a strong downtrend during the recent month that the sellers were successful in achieving the lowest price of 1.19493. price has been stopped from more descending by reaching to the supportive level made of two bottom prices and also the important round supportive level of 1.20000 ( sellers use this round level to exit their trades) and creating a bottom price. According to the formed movements in the chart, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between top price of 1.28260 and the bottom price of 1.19493 that warns about changing price direction from the D point of this pattern.
EUR/CAD during the recent uptrend by reaching to the resistance range, obvious in the picture below, in 17.04.2013 after testing of the descending trend line has been fallen down. Sellers during this downtrend were successful in achieving the lowest level of 1.30647 that by passing of the price from this level, there is the potential for more descend and moving toward the important supportive level of 1.29456.right now the price during the downfall by reaching to the ascending trend line ( made of two bottom prices ) has been stooped from more descending and if the ascending candle closes at the end of today, the price level of 1.30647 will record as a bottom price that warns about changing price direction.
USD /JPY pair from the end of 2012 till now was in a strong and without reformation uptrend that shows buyers determination to achieve predetermined targets. Price during the recent uptrend was able to record the highest price of 102.135 which is possible to convert to a top price in 4H time frame. Some buyers at the end of the previous week tried to cash their trades by approaching to the round resistance level of 102.000 that caused the formation of Shooting Star candlestick pattern under this important resistance level. The mentioned pattern warns about the potential for formation of a top price and the failure of buyers in reaching to the higher prices that for the confirmation it needs closing of a descending candle.
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USD/CAD to the recent price rise, by reaching to the downtrend line specified in the picture below is disable to ascend more and by creating a top price below that started to decline and has fallen. The mentioned down trend line is one of the important resistance levels on long term price range. The sellers were successful in reaching to the lowest price of 1.00122. Price has been stopped from more descend during a downfall by reaching to the uptrend line (consisting of two bottom prices) and Fibonacci support level of 127.2 that shows exit of sellers and their use of these levels for their trades’ purposes . This price level is recorded as a bottom price by an uptrend candle and it prepares the field for the possible ascending of the price during the next days. Read the rest of this entry »
As it was mentioned in the previous analysis of this currency pair dated 19.04.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened.Buyers could reach to the highest price of 1.46562 which is recorded as a peak price. As it is obvious in the picture below, price has been stopped by reaching to the descending trend line made of 4 peak prices and also resistance edge of uptrend channel and by creating a top price it has descended.