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As a result of the red arrow that we are seeing at the moment on the EURGBP chart we conclude that a bearish trend would be taking place now on the top of that the top located at the price 0.8025 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 down direction is to be taking place because of the parabolic sar’s dots which are located above the candles.
And for a take profit the price level 0.7945 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/20141017141349903200714.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 0.7892 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 0.7821 .
But what if blue dots appeared indicating bullish trades and the price bypassed the resistance 0.7892 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 0.7931 which is the next resistance and the next pivot level of the week.
http://bigimage.cz/photos/20141017141350088200959.gif .
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A bearish signal is now live on the Histogram indicator to show a possibility of dowbward trend for the CADJPY chart.
Also there is a green line shown on the Market emotion indicator to indicate a positive signal about the market for the current day.
In additional you can see the g bar formed at the Guru indicator which located above the 0 level then it can be counted as a bearish trend signal on the short term.
Now a quick look on the chart will cause you to find the bullish intersection between the EMA9 and EMA152 to inform you about a buy trade to take a place.
After the previous signals then I guess a bullish trend to occur on this day and I think according to that the target of buy trades can be set to 95.04 as you can recognize it as the nearest resistance to the current prices.
http://bigimage.cz/photos/20141017141350107206744.gif
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Obviously in front of us on the EURGBP 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 above the candlesticks from the parabolic sar indicators showing us a downward direction adding to that the downward signal formed by the cci line when it got located at the lower level.
Also to be sure we get a sell signal from the MACD indicator as it was moving below 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/20141017141352439111971.gif .
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http://i57.tinypic.com/wwlt3b.jpg
Pair: EURGBP
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bearish expansion
William %R Indicator: Bearish (swing low)
Final decision: Bearish
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analysis for today 10 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EURGBP on the date 10 / 16 / 2014
OPEN 0.8011
HIGH 0.8027
LOW 0.7946
CLOSED 0.7960
The third resistance (R3) 0.8027 -( 0.7978 - 0.7946 = 0.0032 x 2 = 0.0063 )= 0.8090
The second Resistance (R2) 0.7978 + 0.8027 - 0.7946 = 0.8059
First resistance (R1) 0.7978 x 2 = 1.5955 - 0.7946 = 0.8009
pivot points 0.8027 + 0.7946 + 0.7960 = 2.3933 / 3 = 0.7978
Support for the first (S1) 0.7978 x 2 = 1.5955 - 0.8027 = 0.7928
Support second (S2) 0.7978 -( 0.8027 - 0.7946 = 0.0081 ) = 0.7897
Third Support (S3) 0.7946 -( 0.8027 - 0.7978 = 0.0049 x 2 = 0.0099 )= 0.7847
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pair- eur/gbp
analysis time frame- m15
http://i62.tinypic.com/2mfhwkx.jpg
the price is making double top chart pattern with having resistance at the pivot point 0.7978 level and nick line of the support at 0.7950 level. this is break support but stoch is oversold so up movement can expected. hold the short entry with stop loss at 0.7955
good luck
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As you can see on the EURGBP chart in front of you the price direction is bearish and that is because of the down channel taking place According to the Donchin channel on the chart the bottom side of the channel was the last level to be hit by a candle which means that if a trade is to opened now a buy order would be recommended and the high side would be considered as a take profit As for the Awesome oscillator's signs it appears that the trend is going to be bearish one and that is because the Awesome oscillator is giving a red sign below the 0 level Also the stostatic is makes a buy cross near the 20 th level which means a bullish trend will be taking place As a conclusion I recommend a buy order as soon as you get a confirmation from the stostatic and the awesome oscillator targeting the high level of the Donchin cannel http://bigimage.cz/photos/20010101978308426108726.gif
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According to price position which is above the EMA indicator on the USDCHF chart I believe it will be taking a bullish direction throughout the day.
A sell signal is indicated by the RSI indicator according to the line which is currently below the center line of 35.
Using the MACD indicator we can see that the green lines are heading down which means that the market bears are the ones in control in the current period.
As a result to that I do believe that choosing the bulls for the current day would be the best choice but that of course until we get an opposite sell signal via the EMA indicator when the price gets below the wave.
http://bigimage.cz/photos/20010101978308367774554.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 0.8032 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 0.7837 .
But what if blue dots appeared indicating bullish trades and the price bypassed the resistance 0.8032 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 0.8137 which is the next resistance and the next pivot level of the week.
http://imagez.me/photos/20141019141375838128351.gif .