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The moment indicator indicates that there is good buying signal on our pair NZDJPY and that’s because of the cross taking place where the blue line’s location is above the red line at the moment The oracle strength indicator on the other hand is could be considered be giving a upwards direction signal according to the yellow color shown If we needed more confirmation on the direction then the Oracle direction indicator would do the trick as you can see the blue colors on the arrows could be acting as upward signals.
Now as a conclusion from all the data we acquired up till now I believe that a upward trend would be taking action and that of course if the buy cross was still on the chart buy trades would have the priority as long as the ATR indicator gives buying signals.
http://bigimage.cz/photos/20141017141349898110744.gif .
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As a result of the red arrow that we are seeing at the moment on the NZDJPY chart we conclude that a bearish trend would be taking place now on the top of that the top located at the price 84.85 which is a strong resistance at the moment and the price shouldn’t be able to go above it if the bearish trend stayed strong.
A up direction is to be taking place because of the parabolic sar’s dots which are located below the candles.
And for a take profit the price level 84.25 would be perfect since it's a support when we are selling because there might be a good chance for the price to start hitting north after hitting it.
http://bigimage.cz/photos/20141017141349909139016.gif .
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According to the position of the price at the moment which is currently in a position lower than the 15 EMA line there is a good chance for a bearish trend to be taking place today on the NZDJPY chart.
There is a big chance for the bearish trend to take place according to the signals appearing by the power momentum indicator which is a great tool to filter the sell positions we are about to enter.
As for the power line indicator which is showing a upward direction signal due to its position which is above the 50 level at this moment.
http://bigimage.cz/photos/20141017141350175958593.gif .
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by viewing the NZDJPY chart of the day we conclude that week bullish trend happened due to the blade oscillator of value 0.266 located above the balance level of the indicator which shows a blue signal to conclude a week indication that a bullish direction happen on the short run. By the way the moving average 5 on the chart giving us a down indication then the bottom placed at price 84.38 can be taken as a stop loss point for the buy orders given by the indicators that we deal with them. http://bigimage.cz/photos/20141017141350211371567.gif
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the red dots appearing above the candle bars indicates that the price today is going to be heading downward depending on the price’s position we are going to determine where the price would be heading so if the price remained in its position lower than 85.2467 which act as a strong resistance at this moment also it happens to be a weekly pivot point at the same time then I do believe that the price would be heading south only till it meets the next weekly pivot support at 83.4667 .
But what if blue dots appeared indicating bullish trades and the price bypassed the resistance 85.2467 and headed for the opposite direction then I do believe that the price in this condition would be heading north until it reaches the price 86.4033 which is the next resistance and the next pivot level of the week.
http://bigimage.cz/photos/20141017141350094781867.gif .
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Obviously in front of us on the NZDJPY chart we can clearly see that there is a down trend taking place as we speak and from its looks of it seems to be a main trend of course that was confirmed when the 6 and 5 EMAs were located below the 35 EMA.
From the looks of it making sell orders would be the wisest decision once a bearish direction is confirmed by the other indicators.
Also there are dots located below the candlesticks from the parabolic sar indicators showing us a upward direction adding to that the upward signal formed by the cci line when it got located at the Higher level.
Also to be sure we get a buy signal from the MACD indicator as it was moving above the level 0.
So In the end I do think selling would work greatly for me according to what we witnessed up till now unless an opposite bullish signal appears.
http://bigimage.cz/photos/20141017141352445157603.gif .
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http://i58.tinypic.com/outshf.jpg
Pair: NZDJPY
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bullish retracement
William %R Indicator: Bullish (swing high)
Final decision: Bullish
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analysis for today 10 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle NZDJPY on the date 10 / 16 / 2014
OPEN 84.56
HIGH 84.80
LOW 83.34
CLOSED 84.53
The third resistance (R3) 84.80 - ( 84.22 - 83.34 = 0.88 x 2 = 1.77 )= 86.57
The second Resistance (R2) 84.22 + 84.80 - 83.34 = 85.68
First resistance (R1) 84.22 x 2 = 168.45 - 83.34 = 85.11
pivot points 84.80 + 83.34 + 84.53 = 252.67 / 3 = 84.22
Support for the first (S1) 84.22 x 2 = 168.45 - 84.80 = 83.65
Support second (S2) 84.22 - ( 84.80 - 83.34 = 1.46 ) = 82.76
Third Support (S3) 83.34 - ( 84.80 - 84.22 = 0.58 x 2 = 1.15 )= 82.19
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pair- nzd/jpy
analysis time frame- m30
http://i59.tinypic.com/iz0umc.jpg
the price is having strong resistance at 84.75 level that is rejecting up movement. the price is also making triple top chart pattern. if the price is break 84.55 level then it will again down side. short with profit target at 83.60 and stop loss at the 85.00
good luck
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My forecasting for today on the NZDJPY shows that the price is currently moving downwards through the down channel as you can see Awesome oscillator is a good indicator to avoid side trend market and it is currently showing a buy signal by getting a green bars located above the 0 th level to indicate a bullish trend Now when you take a close look to the chart you can see that the price hit the high edge of donchin channel which can be a good bearish signal till the price be able to hit the low edge of it Finally another buy condition is shown by getting up cross at the stostatic indicator and the two lines is almost at level of 80 To finish the forecasting I gess that you can consider a bearish trend on the short term and then sell orders can take place as soon as you can see clear signals on both awesome oscillator and stostatic http://bigimage.cz/photos/20010101978308480184500.gif