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Old 12-07-2012, 13:14
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FXGLORY FXGLORY is offline
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Default Re: Technical Analysis By FxGlory

Technical analysis of GBP/CHF 07.12.2012

Right now, the ascending trend of GBP/CHF currency pair has been stopped and it is not able to reach the higher prices. The price has recorded the 1.52538 level during its ascending trend. The shape of candle is closed like Doji Pattern because of the movement of the price in last day. This candle issues the warning of the formation of atop price. this pattern is located on the red line of resistance trend which consists of two resistance points which right now is preventing the ascend of the price.

Also, the Stoch indicator is located in the saturation buy are and show the potential of falling of the price.

An ideal harmonic pattern AB=CD

In the daily time frame we can find the harmonic pattern of AB=CD in an ideal situation which has the ratios of 61.8=161.8 and right now, is issuing the warning of falling of the price. By the way, until when the formed peak of the price is maintained, we can expect the falling and reform of the price.
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Technical Analysis By FxGlory-2012.07.12-gbpchf.jpg  
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