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Daily forecast: AUDJPY 21 Oct. 2014.
Technical analysis for Daily forecast of AUDJPY 21 October, 2014. In Daily chart AUDJPY shows bullish trend. At present AUDJPY above the pivot point and going towards the 1st resistance level. If 1st resistance level breaks then next strong resistance is 95.120.
Pivot: 93.866
Resistance levels
R1 94.183
R2 94.485
R3 94.802
R4 95.120
Support levels
S1 93.564
S2 93.247
S3 92.945
S4 92.644
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analysis for today 10 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 10 / 20 / 2014
OPEN 93.84
HIGH 94.15
LOW 93.53
CLOSED 93.86
The third resistance (R3) 94.15 - ( 93.85 - 93.53 = 0.32 x 2 = 0.63 )= 94.78
The second Resistance (R2) 93.85 + 94.15 - 93.53 = 94.47
First resistance (R1) 93.85 x 2 = 187.69 - 93.53 = 94.16
pivot points 94.15 + 93.53 + 93.86 = 281.54 / 3 = 93.85
Support for the first (S1) 93.85 x 2 = 187.69 - 94.15 = 93.54
Support second (S2) 93.85 - ( 94.15 - 93.53 = 0.62 ) = 93.23
Third Support (S3) 93.53 - ( 94.15 - 93.85 = 0.30 x 2 = 0.61 )= 92.92
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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 AUDJPY chart.
There is a small 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.
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While monitoring the AUDJPY I came to realize that a bearish trend is being formed today on the chart and of course I came to that conclusion because of the red signal performed by the super trend indicator giving me a hint on where the market supposedly would be heading.
The Nolog dot indicator giving us a red colored dot indicating that a sell signal should be taking place soon.
A strong bearish trend is indicated by the signals encouraging us to take sell trades but that of course as long as there is no changes on the signals.
In order to be safe we should think of the best position to act as our stop loss I believe the resistance located at the price 113.2 would be the perfect place for that but if this method is not convincing enough then waiting for the super trends color to change to green would be a good idea as well since the bearish trend would certainly be over if it met any of those conditions.
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Depending on what I saw till now on the XAGUSD chart I can say without doubt that the price might be taking a north direction for a while and thats because of the bullish cross between the 2 EMAs 9 and 152.
According to the Histogram indicator a Green line is formed for the last candle which means nothing other than a bullish signal A bullish signal is formed due to the guru indicator which is known as the line is above the level 0 and the last bar is Green as well In the end I must say that there is sell signal on the Market emotion indicator for now thats when we can think about acting with a bearish trend with the upcoming candles Summing all that up we get the conclusion that it will be better to take the buying side according to these conditions and the level 17.45 could be acting as a great take profit since its the nearest resistance to the current price![]()
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According to the Henkin Ashi you can see it showing a buy signal by having up arrow and a blue candles on the AUDJPY Also you can monitor a blue bar on the trend session indicator whith increase the chance to face up trend on the short term By the way we have a buy cross at Snake and T3-Clean indicators which can be a good signal for buying the pair By collecting all of this together I can bet on raising up till the resistance located at 94.47 where you can consider it as a good area for claiming any buy positions profit![]()
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by viewing the AUDJPY chart of the day we conclude that week bullish trend happened due to the blade oscillator of value 0.016 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 UP indication then the bottom placed at price 93.9 can be taken as a stop loss point for the buy orders given by the indicators that we deal with them.![]()
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the blue dots appearing above the candle bars indicates that the price today is going to be heading upward depending on the prices position we are going to determine where the price would be heading so if the price remained in its position lower than 91.9967 which act as a strong support 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 north only till it meets the next weekly pivot resistance at 94.7567 .
But what if red dots appeared indicating bearish trades and the price bypassed the support 91.9967 and headed for the opposite direction then I do believe that the price in this condition would be heading south until it reaches the price 90.4833 which is the next support and the next pivot level of the week.
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As a result of the green arrow that we are seeing at the moment on the AUDJPY chart we conclude that a bullish trend would be taking place now on the top of that the bottom located at the price 92.7 which is a strong support at the moment and the price shouldnt be able to go below it if the bullish trend stayed strong.
A up direction is to be taking place because of the parabolic sars dots which are located below the candles.
And for a take profit the price level 94.2 would be perfect since it's a resistance when we are selling because there might be a good chance for the price to start hitting south after hitting it.
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