Daily Technical Analysis by PipSafe - page 2
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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 18.213.Right now price is above 5-day moving Daily and H4 time frames that show an uptrend during the next candles.By formation of Morning Star( With 2 Stars) candlestick pattern on 7,10,11 and 12th days in daily time frame, there is a warning(R=S) for the first failure of sellers in achieving lower prices and formation of a bottom price for increasing of the price in this area.
As it is obvious in the picture below, there is non-ideal AB=CD pattern between the top price of 22.173 and the bottom price of 20.589 that there is a potential for ceasing of price from D point of this pattern. Stoch 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. Generally until the price level of 20.589 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 2014.03.05 , 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 1.07578 and after that the price has started to decrease.According to the formed movements in the last days , there are an Inverted Hammer candlestick pattern and Doji 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, there is a harmonic Bat pattern between the bottom price of 1.04912 and the top price of 1.09446 that there is a potential for changing price direction from D point of this pattern.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. Generally until the bottom price of 1.05364 is preserved, price will have the potential for reformation.
EUR/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 145.614.As it is obvious in the picture below, price has been stopped from more descending with reaching to the Up Trend line made of several Support points (Sellers leave their trades) and with creating the Bottom price of 140.296, the field has been prepared for ascending. The first warning for ascending of price is breaking of the resistance level (the yesterday highest price change) 141.947.According to the recent downfall from the top price of 143.773, RSI indicator is in saturation sell area and with the next cycle confirms the bottom price of 140.296 warns about price reformation during the next candles.One of the important warnings for starting the price downfall is breaking the ascending trend line (made of Five bottom prices) in 4H time frame.
As it was mentioned in the previous technical analysis of Gold dated 2014.02.20 , 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 1391.908.The price by reaching to the resistance ascending Channel edge has been stopped from more ascend and by forming a Shooting Star candlestick patterns( possibility of formation of a top price and changing price direction)and fixing of it by a descending candle has prepared the field for creating a top price and a descending trend.
Right now the price is under 5-day moving average( Dilay and h4 Time frame) and surmounts the supportive level of 1325.549 that shows the possibility of more descends in this currency pair.Stoch Indicator shows ascending trend of the next candles in this time frame, but because of not being in the same direction of daily(also weekly) time frame it is not so valid. According to the current condition the first warning for descending of price is breaking of the resistance level of 1334.496.
USD/CHF 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 0.86991. Currently the mentioned price level is fixed as a Bottom price, and it is the most important Support level in front of the price.price with reaching to the supportive level which is shown in the picture below ( made of 5 bottom prices) and the important round level of 0.87000 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.
Right now price in daily time frame price is above 5-day moving average and warns the potential of ascending of price during the next candles. As it is obvious in the picture below, there is butterfly pattern between the top price of 0.91568 and the bottom price of 0.86991 that there is a potential for ceasing of price from D point of this pattern.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. In case of ascending of the price, one of the buyers target will be the Down Trendline.
As it was mentioned in the previous technical analysis of Silver dated 2014.03.13, 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 21.769 and after that the price has started to decrease.Currently price in Weekly , daily and h4 time frames is under 5-day moving average that shows descending of price during the net candles.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the top price of 22.149 and the bottom price of 20.088 with ideal ratios of 76.4 to 127.2 that warns about descending of price from the D point of this pattern.
RSI indicator is in saturation sell area follows the bottom price of 20.088 and warns the possibility of ascend during the next candles.One of the important signs for descending is breaking of Down Trend line (made of 2 top prices). Given the current situation of price, the best confirmations for ascending and reformation of price is closing of bullish candle in Daily time frame and being of price above 5-day moving average in H4 time frame.
GBP/CHF in recent weeks, has been experienced many reformation with a gradual Downtrend that Sellers Down price increases obtained the lowest price of 1.44662.it is obvious in the picture below, the price by reaching to the ascending trend line made of 2 Bottom prices has been stopped from more descending(sellers used this level to leave their trades) and the buyers are hopeful about ascending of price from this supportive level.Right now price is above 5-day moving Daily and h4 time frames that show an uptrend during the next candles.
As it is obvious in the picture below, there is a harmonic Gartley pattern between the Top price of 1.51213 and the Bottom price of 1.44662 that there is a potential for changing price direction from D point of this pattern. Stoch indicator is in saturation sell area that confirms the current bottom price and warns about ascending of price during the next candles.In case of ascending of the price, one of the buyers target will be the drawn Down Trendline .Generally until the price level of 1.44662 is preserved, price will have the potential for reformation and ascending.
EUR/CAD was in a strong and consistent uptrend during the recent months that buyers were successful in achieving the highest price of 1.55813.Price is going toward the support level of 1.52000 (the important psychic level of Sellers) and there is not any clear reason of buy signal in long term time frames such as Weekly and daily.
Right now in Daily and 4H time frames price is under 5-day moving average which shows consistent descending trend. According to the formed movements in the previous week, there is a Spining Top candlestick pattern which shows indecision marker for ascending or descending and there is a warning for stopping of more descending.
RSI indicator in weekly time frame is in saturation Buy area(also divergence mode in Daily time frame) that confirms the current Top price and warns about changing price direction. Generally until the price level of 1.55813 is preserved, price will have the potential for reformation and descending.
As it was mentioned in the previous technical analysis of this currency pair dated 2014.03.17, 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 1.07382 and after that the price has started to decrease. Currently price in H4 and H1 time frames is under 5-day moving average that shows descending of price during the net candles.
As it is obvious in the picture below, price has been stopped from more ascending with reaching to the Down Trendline made of several resistance points (buyers leave their trades) and with creating the top price of 1.07382, the field has been prepared for descending.
As it was mentioned in the previous technical analysis of this currency, in long period of time there is good potential for growth of price but According to the current situation there is not any clear reason about ascending of price in H4 and Daily time frames. The least sign for ascending of price is formation of a bottom price and recording of it in H4 time frame
AUD/CAD during the recent week was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 1.03155. Right now price in long time frames such as monthly, weekly and daily is above 5-day moving average and warns about price increase in long period of time. Price has been stopped from more ascend by reaching to the specified resistance levels(Support=Resistance) in the picture below and with exit of some buyers from their trades at the end of 26th and 28th days, the Shooting Star and Hanging Man candlestick patterns have been created. These candles shows vulnerability and indecision market in ascending or descending of price that for confirmation it needs closing of a bearish candle. As it is obvious in the picture below between the bottom price of 0.91701 and the top price of 1.03155, there is a AB=CD harmonic pattern with the ratios of 61.8 and 127.2 that with completion of the D point (also formation of butterfly pattern in CD wave), there is a potential for descending of price.RSI indicator is in saturation Buy area and divergence mode with the price chart that confirms the current Top price and warns about descending of price during the next candles.One of the important warnings for decreasing of is breaking of supportive level of 1.01809 (Low level of price changes in the previous daily candle).