FXGLORY

Technical analysis of GBP/CHF dated 06.06.2013 As it was mentioned in previous analysis of this currency pair dated 22.05.2013 , according to the formed signs in the price chart, there was a potential for descending of price which finally happened.Sellers were successful in achieving the lowest price of 1.44549 in this downtrend. According to the continues formation of Spinning top candlestick pattern in recent days, it warns about indecision traders and inability of sellers in achieving the lower price in this currency pair.as it is obvious in the picture below , price has been stopped from more descending with reaching to the supportive level (alterant) and has formed a bottom price. Stoch indicator is in saturation sell area in daily time frame and it warns the potential for ascending of the price according to the next cycle. The first important warning for ascending of price is breaking of the 1.45790 resistance level(the highest level of price changes in previous day). The first price target of buyers is long term descending trend line in this currency pair. Generally until the bottom price of 1.44549 is preserved, the price has the potential for ascending in this currency pair. FxGlory 2013.06.06

Technical analysis of GBP/JPY dated 05.06.2013 GBP/JPY was in a strong and consistent uptrend during the recent months that buyers were successful in achieving the highest price of 156.658. According to the chart condition in long term time frames like monthly and weekly, there is the potential of ascending in long term interval of this currency pair and the most important buyers’ midterm goal is achieving the top price of 163.127 ( belong to 2009 ). There is a Hanging Man candlestick pattern in top price of 156.658 that warns the potential for formation of a successful top price and Vulnerability of ascending trend for buyers. With closing of the next bearish candle, this signal is fixed. According to the formed price movements in the chart, there is a butterfly harmonic pattern between the bottom price of 116.905 and top price of 156.658 that warns about descending of the price with completion of this pattern ending point. Stoch indicator in weekly time frame is in saturation buy area and warns about descending of price according to the next cycle during the next weeks. According to the current condition and ascending again from the bottom price of 151.824, the first important warning for descending is breaking of this supportive level. Generally according to the formed signs in price chart, until the top price of 156.658 is preserved, there is a potential for reformation and descending of the price in this currency pair. FxGlory 2013.06.05

Technical analysis of GBP/NZD dated 04.06.2013 As it was mentioned in previous analysis of this currency pair dated 03.05.2013, according to the formed signs in the price chart, there was a potential for ascending of price which finally happened. Buyers were able to achieve the highest price of 1.91605 during this uptrend. Currently In long term time frames like monthly, weekly and daily, price is above 5 day moving average that warns the potential of ascending during the next candles. According to the potential of ascending in long term interval in this currency pair, likely descending signals in short term time frames will be temporary and unstable. According to the picture below, price with forming AB=CD harmonic pattern starts to ascend and buyers face a notable price increase. Currently price has been stopped by reaching to the resistance line (the alterant level made of two bottom prices) and with creating a bearish candle in daily time frame, points to buyers’ trades getting cash in this area. With breaking the resistance level of 1.91605, there is the possibility for ascending of the price to the descending trend line or weekly pivot 1 level. FxGlory 2013.06.04

Technical analysis of NZD/USD dated 03.06.2013 As it was mentioned in previous analysis of this currency pair dated 15.04.2013, according to the formed signs in the price chary, there was a potential for descending of price which finally happened. Sellers were successful in achieving the lowest price of 0.79366 in this downtrend. In long term time frames like monthly and weekly, price is closed under 5 day moving average and according to the monthly chart condition, there is the potential for descending of the price in long term interval. Right now, price has been stopped from more descend by recording the bottom price of 0.79366 that shows sellers’ retreat and cashing of their trades. According to the formed price movements, there is AB=CD harmonic pattern with idea ratios of 76.4 and 127.2 between the top price of 0.82120 and bottom price of 0.79366 that warns about ascending of the price from the D point of this pattern. Stoch indicator in 4H time frame is in saturation sell area and confirms the harmonic D point with its possible ascending cycle and warns about the potential of changing price direction during the next candles. Generally according to the formed signs in price chart until the mentioned bottom price is preserved, price will have the potential for reformation to the resistance level of 0.80039 and in the next stage to the descending trend line. FxGlory 2013.06.03

Technical analysis of AUD/NZD dated 31.05.2013 As it was mentioned in previous technical analysis of this currency pair dated 15.05.2013 with breaking of the resistance level of 1.20885, there was the first warning for ascending of the price that finally because of the sell pressure, price was not successful in breaking the mentioned resistance level. Sellers during the recent descending trend were able to achieve the lowest price of 1.18139 which is the most important supportive level before the price. As it is obvious in the picture below between the top price of 1.28254 and bottom price of 1.18139, there is AB=CD harmonic pattern with the ratios of 76.4 and 161.8 that warns about the potential for ascending of the price. RSI indicator is in saturation sell area in daily and weekly time frame that confirms the harmonic D point and warns about changing price direction during the next candles. Between 24th and 30th days according to the shape of candles in daily time frame, there is important Evening Star pattern with 3 stars (also formation of ideal hammer candlestick pattern that warns the failure of sellers in achieving to the lower prices) that warns about ascending of the price in this price range. Generally according to the formed signs in price chart, until the bottom price of 1.18139 is preserved; price will have the potential for increasing and ascend. FxGlory 2013.05.31

Technical analysis of USD/JPY dated 30.05.2013 USD/JPY since 23.09.2012 till now was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 103.675. As it is obvious in the picture below, price has been stopped from more ascending by reaching to the resistance line of ( alterant level) made of two bottom prices and also Fibonacci resistance level of 38.2 and by closing the weakly candle as descending candle, the peak price of 103.675 has been recorded. Right now price in daily time frame and 4H time frame is closed under 5-day moving average and warns about descending of the price during the next candles. According to the strong and consistent uptrend, Stoch indicator is in saturation buy area and in divergence mode with the price chart that confirms the created top price and warns about the potential of changing price direction. Currently breaking the supportive level of 100.657 is the first warning for descending of the price. Generally according to the technical signs in the price chart, until the top price of 103.675 is preserved; there is the potential for descending and price reformation in this currency pair. FxGlory 2013.05.30

Technical analysis of USD/CAD dated 29.05.2013 As it was mentioned in previous analysis of this currency pair dated 10.05.2013, according to the formed signs in the price chary, there was a potential for ascending which finally happened. Buyers were able to achieve the highest price of 1.04202 during this uptrend. Right now price by reaching the resistance line of monthly pivot one and also by creating a peak price in 4H time frame has been stopped from more ascend. By forming a Engulfing candlestick pattern in mentioned top price, there is a potential for creating a top price and ten descending. As it is obvious in the picture below, between the bottom price of 1.02146 and top price of 1.04202, there is an AB=CD harmonic pattern with non-ideal ratios of 61.8 and 127.2 which warns about descending of the price from the D point of this pattern. RSI indicator is in saturation buy area and in divergence mode with the price chart warns about changing price direction during the next candles. As it was mentioned in previous analysis of this currency pair, according to the potential for ascending in long term intervals, the signals in time frames like 4H time frames are short and unstable. Currently until the mentioned top price is preserved, price has the potential for descending and if the resistance level of 1.04202 breaks, price will have the potential for ascending and reaching to the important resistance level of 1.04456. FxGlory 2013.05.29

Technical analysis of AUD/USD dated 28.05.2013 AUD/USD since 11.04.2013 till now was in a strong downtrend without a noticeable price reformation that sellers were successful in achieving the lowest price of 0.95909. Right now price has been stopped by reaching to the round level of 0.96000 and supportive levels’ range (made of 5 bottom prices dated back to 2010) and by making a bottom price had a little ascend. The bottom price of 0.95909 is recorded in 4H time frame , also in daily time frame it appeared by creating a Spinning top candlestick pattern which shows indecision market for ascending or descending and warns about the potential to stop declining of the price. Stoch indicator in 4H time frame is in saturation sell area and also in divergence mode with the price chart which confirms the bottom price of 0.95920 and warns about changing price direction. The first warning for ascending and price reformation is breaking the descending trend line (made of 3 peak prices). Generally according t the formed signs in the price chart until the supportive level of 0.95909 is preserved , price has the potential for reformation in this currency pair. FxGlory 2013.05.28

Technical analysis of silver dated 27.05.2013 Silver chart since the middle of 2011 till now was in a downtrend accompanied with price reformation that sellers were successful in achieving the lowest price of 20.19. By formation of hammer candlestick pattern on 20th day in daily time frame, there is a warning for the first failure of sellers in achieving lower prices and formation of a bottom price for increasing of the price in this area. After formation of the mentioned candlestick pattern, price is range which shows indecision market for ascending or descending. Right now the bottom price of 20.19 is recorded that there is a possibility for ascending of the price. According to the formed movements in price chart, there is Crab harmonic pattern between the top price of 35.35 and the bottom price of 20.19 that warns about ascending of price from D point. RSI indicator in daily and weekly time frame is in saturation sell area ( also in divergence mode with the price chart in daily time frame ) and by the next cycle it confirms the harmonic D point and warns about the potential for ascending of price during the next candles in both time frame. If price rises and buyers success one of the price targets would be alterant level of 26.00. Generally according to the formed signs in price chart until the bottom price of 20.19 is preserved, price will have the potential for ascending and reformation. FxGlory 2013.05.27

Technical analysis of EUR/JPY dated 24.05.2013 EUR /JPY pair since 26.07.2012 till now was in a strong and consistent uptrend that buyers were able to achieve the highest price level of 133.753. As it was mentioned in one of the last year analysis of this currency pair dated 16.08.2012, according to the formed signs, there was the potential for ascending of the price in long term intervals which finally happened.Price during the uptrend by reaching to the important resistance level of number 1 monthly pivot and touching the Fibonacci resistance level of 50( from the top price of 169.860 to bottom price of 94.006) has been stopped from more ascends by creating a top price. In mentioned peak price (in daily time frame) there are two Shooting Star and Hanging Man candlestick pattern that warns about formation of a top price and descending of the price during the next days. According to the formed price movement, there is butterfly harmonic pattern between the bottom price of 118.609 and top price of 133.753 that warns about changing price direction from the D point of this pattern.RSI indication in daily and weekly time frame is in saturation buy area and in divergence mode with the price chart that confirms the harmonic pattern and warns about changing price direction. Currently by breaking the supportive level of 129.933, there will be an important warning for descending of the price. Generally until the top price of 133.753 is preserved, there is a potential for descending and price reformation in this currency pair. FxGlory 2013.05.24

Technical analysis of AUD/USD dated 23.05.2013 AUD/USD since 11.04.2013 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 0.95928 that if it breaks, the price will find the potential in reaching to the other important supportive level of 0.95000. Price during the downfall by reaching to the supportive edge of downtrend channel also the supportive level of pivot 1 has been stopped from more descending and right now some of the sellers by reaching to these supportive levels started to cash their trades. In 1H and 4H time frame, according to the recent movement price, there is a hammer candlestick pattern that warns about formation of a bottom price in this area and ascending of the price. RSI indicator in both mentioned time frames is in saturation sell area and warns about the potential for increasing of the price and changing price direction by the next cycle. Generally according to the current condition and recent downtrend, until the supportive level of 0.95928 is preserved, price has the potential for ascending and reformation in this currency pair. FxGlory 2013.05.23

Technical analysis of GBP/CHF dated 22.05.2013 As it was mentioned in the previous analysis of this currency pair dated 09.05.2013, because of potential for increasing of the price in long term time frames, the formed descending signal in the chart does not have high validity that finally the price was able to ascend and pass the mentioned resistance obstacles. Buyers were successful in achieving the highest price of 1.48144 and by the recent downfall it was recorded as a peak price. By breaking this resistance level, price will have the potential to increase in long term intervals.According to the formed price movement, there is AB=CD harmonic pattern with Non-ideal ratios of 78.6 and 161.8 between the bottom price of 1.39665 and top price of 1.48144 that warns about decreasing of the price from the D point of this pattern. Stoch indicator in daily time frame is in divergence mode with the price chart that warns about the potential for descending of the price during the next candles and confirms the D point of harmonic pattern. As it was mentioned before , in long term intervals there is the potential for ascending and descending signals in daily time frames and lower ones is temporarily and unstable. Currently the first warning for descending of the price is breaking of the supportive level of 1.46082. FxGlory 2013.05.22

Technical analysis of Gold dated 21.05.2013 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. 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 1921.89 and the bottom price of 1321.42 that warns about changing price direction from the D point of this pattern. In daily time frame, price created a bottom price on Fibonacci level of 88.6 and Stoch indicator is in saturation sell area that according to the next cycle , it warns about ascending of the price from the mentioned Fibonacci level during the next candles . The first warning for ascending will be breaking of 1399.38 resistance level (the highest price changes in previous day). Generally according to the technical signs in the price chart until the mentioned supportive levels are preserved, the price has the potential to increase and ascend. FxGlory 2013.05.21

Technical analysis of CAD /JPY dated 20.05.2013 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. As it is obvious in the picture below, according to the formed movements in the chart there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 between the bottom price of 68.500 and top price of 101.008 that warns about descending of the price by completion of the D point. Also in CD wave of the mentioned pattern, there is another harmonic pattern (butterfly) that warns about the potential of changing price direction from the green area. According to the recent uptrend RSI indicator is in saturation buy area and confirms the mentioned top price and warns about the potential of descending of the price during the next candles. Generally until the resistance level of 101.008 is not broken, price has the potential for descending and reformation in this currency pair. FxGlory 2013.05.20

Technical analysis of AUD/CAD dated 17.05.2013 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. RSI indicator in this time frame and in 4H time frame is in saturation sell area and in divergence mode with the price chart that warns about the potential of changing price direction and a price reformation. According to the recent downtrend, the price is in supportive range made of 4 bottom prices that warns about the potential of preventing of more descend. According to the issue that some sellers use the blue tape range to exit their trades (also because of the recent strong downtrend), there is the possibility for creating a bottom price and starting a small price reformation. Breaking the downtrend channel is one the warnings for changing price direction for sellers. Generally until the specified supportive range in daily time frame is preserved, the price will have the potential for reformation and ascending. FxGlory 2013.05.17

Technical analysis of CHF/JPY dated 16.05.2013 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. As it is obvious in the picture below, in 14th day by creating a peak price of 106.604 (the third point of descending trend line) there is a warning for descending of the price to the ascending trend line and if this resistance line breaks, it will consider a warning for sellers to start an uptrend again. In daily time frame Stoch indicator is in saturation buy area and according to the possible next cycle warns about the potential of descending in the next candles. Also it confirms the mentioned top price. The first warning for descending of the price in current condition is breaking of the supportive level of 105.279. FxGlory 2013.05.16

Technical analysis of AUD/NZD dated 15.05.2013 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. 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. In weekly time frame the previous week candle was closed as a Doji candlestick pattern that shows the indecision for ascending or descending. If this pattern confirms, there will be the potential for changing price direction. Also Stoch indicator in this time frame is in saturation sell area and warns the ascending of the price according to the next cycle. The first important warning for ascending of the price according to the technical signs is breaking of the resistance level 1.20855. Generally until the bottom price of 1.19493 is preserved, the price has the potential for increase and ascends. FxGlory 2013.05.15

Technical analysis of EUR/CAD dated 14.05.2013 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. As it is obvious in the chart below, Stoch indicator is in saturation sell area and also in divergence mode with the price chart that warns about changing price direction during the next candles and confirms the third point of this ascending trend line. The first warning for ascending of the price is breaking of the 1.31442 level and then by passing of the downtrend channel. According to the current situation until the ascending trend line is preserved, there is a potential for ascending of the price toward the descending trend line. FxGlory 2013.05.14

Technical analysis of USD/JPY dated 13.05.2013 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. As it is obvious in the picture below,there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between the bottom price of 95.801 and the top price of 102.135 that warns changing price direction from D point. RSI indicator is in saturation buy area and confirms the harmonic D point and potential for descending of the price. One of the important warnings for descending of the price is formation of the candlestick pattern in daily time frame or closing of a descending candle which prepares the field for descending of the price. FxGlory 2013.05.13

Technical analysis of USD/CAD dated 10.05.2013 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. 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 1.03392 and the bottom price of 1.00122 that warns about the potential of ascending from the endpoint of this pattern. Stoch 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 according to the mentioned signs, until the bottom price of 1.00122 is preserved, the price will have the potential for increasing. FxGlory 2013.05.10

Technical analysis of GBP/CHF dated 09.05.2013 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. According to the formed movements in daily chart of this currency pair, there is AB=CD harmonic pattern with ideal ratios of 78.6 and 127.2 between bottom price of 1.39621 and the top price of 1.46562 that by completion of the D point in this pattern, there is warning for descending of the price and changing price direction. Right now the first warning for descending of the price (in the same direction with harmonic pattern’s signal) is breaking of the supportive level of 1.45073. According to this point in long term interval, there is a potential for ascending of the price in this currency pair. Sell signals in midterm time frames are temporary and risky. By breaking of the descending trend line and technical AB=CD pattern, there is a warning for more ascend in this currency pair. FxGlory 2013.05.09

Technical analysis of AUD/USD dated 08.05.2013 As it was mentioned in the previous analysis of this currency pair dated 01.05.2013, according to the formed signs in this price chart, there was the possibility of a price downfall which finally happened. Sellers could reach to the lowest price of 1.01529 which is recorded as a bottom price and warns the potential for ascending of the price. During this price downfall, the price has been stopped from more descending by reaching to the area of important supportive levels made of 3 bottom prices date back to 2012. According to the formed movements in 4H time frame, between the top price of 1.03840 and bottom price of 1.03840 there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that by completion of the D point in this pattern, there is warning for ascending of the price. Stoch indicator in 4H time frame is in saturation sell area and according to the next cycle confirms the D point of this pattern and warns about the potential of ascending during the next candles( because of not being in the same direction with long term time frame it is not much valid). In daily time frame, the price by making a peak price under a descending trend line starts to fall and right now it is under 5-day moving average. It also warns about the potential for descending of the price, so the ascending signals are less in 4H time frame and if the mentioned supportive level breaks, the field for more descend in this currency pair will be prepared. Until the supportive range is preserved, the price will have the potential for ascending. FxGlory 2013.05.08

Technical analysis of GBP/JPY dated 07.05.2013 GBP/JPY from the middle of 2012 till now was in a strong ascending trend and it was in saturation sell area (in long term intervals). Right now the buyers during the recent ascending trend were successful in reaching to the highest price of 154.739 and this mentioned resistance level is the most important resistance level in front of the price that by closing of daily candle as a descending candle the price level of 154.739 will be recorded as a peak price. As it is obvious in the picture below, the price has been stopped from more descending by reaching to the supportive level of 153.790 ( alterant level from resistant to support) and by creating a bottom price in this saturation area starts to ascend which shows the potential for ascending in this currency pair. According to the formed movements in the price chart, between the bottom price of 137.836 and the top price of 154.739 there is an ideal butterfly harmonic pattern that by completion of the D point, there will be the possibility for changing price direction in this currency pair. RSI indicator is in divergence mode with the price chart (if the price level of 154.739 confirms as a peak price) and warns about the potential for price reformation and changing price direction. The first sign for starting a reformation movement and descending of the price is breaking the alterantlevel of 153.790. Generally until the price level of 154.739 is preserved, the price has the potential for descending and price reformation in this currency pair. FxGlory 2013.05.07

Technical analysis of USD/CHF dated 06.05.2013 As it was mentioned in the previous analysis of this currency pair dated 02.05.2013, according to the formed signs in this price chart, there was the possibility of price ascending which finally happened. Price has been stopped from more ascending during this ascend by approaching to the resistance Fibonacci level of 61.8 (where the buyers’ trades will cash) and by forming a top price under it , was finally forced to descend. The price by a little descending went toward the ascending trend line and by creating a bottom price prepared the field for another ascending. Right now in daily time frame, price is above 5-day moving average and is ascending and going toward the resistance line. Stoch indicator in daily and weekly time frames confirms the bottom price of 0.92465 and according to the next cycle warns about the potential of ascending during the next candles. If the price ascends, the buyers’ targets will be resistance level of 0.93980 and in the next step the descending trend line. Breaking the important supportive level of 0.93000 is an important warning for the failure of the buyers in reaching to their target prices and continuing the ascending trend. FxGlory 2013.05.06

Technical analysis of GBP/NZD 03.05.2013 GBP/ NZD form 2000 till now was in a strong and coherent descending trend that sellers strictly followed their descending price targets. Price during the recent downtrend was able to record the bottom price of 1.76933 and it is fixed by the ascending candles. The mentioned bottom price is the lowest price in the history of this currency pair and generally the price is in a saturation sell area. In monthly time frame of this currency pair, there is a hammer candle stick pattern that warns about the potential for formation of a bottom price and ascending of the price for buyers. According to the formed movements in the price chart, between the top price of 2.25137 and the bottom price of 1.76933 there is an AB=CD harmonic pattern with ratios of 61.8 and 127.2 that by completing the ending point of this pattern, there will be a warning for ascending trend. As it is obvious in the picture below, the price reacts by coming across the supportive line and prepared a field for price reformation by creating the bottom price of 1.76933. RSI indicator in weekly time frame is in saturation sell area (also in divergence mode with the price chart) that confirms the mentioned bottom price by the next cycle and warns about the potential of changing price direction. Breaking the resistance level of 1.83843 is a good warning for ascending of the price. Generally according to the formed signs in this price chart, until the bottom price of 1.76933 is preserved, there will be the potential for ascending and price reformation in this currency pair. FxGlory 2013.05.03