Wednesday, April 17, 2013

Forex Technical Analysis (17 Apr 2013)

MACD Settings:- First EMA = 12 | Second EMA = 26 | Signal EMA = 9
Stochastic Settings:- Period = 5 | Average Period Fast = 7 | Average Period Full =7
Bollinger Bands Settings:- Average = 20 | Standard Deviation = 2
Date: 17 April 2013
Time: 3:24 PM (+8 GMT)


EUR-USD
Technical Indicators 4 Hourly Daily Weekly Monthly
MACD Up Up Down Up
Full Stochastic Up Up Up Up
Bollinger Bands Top Top Middle Middle
Chart Formation N/A Head/Shoulder Head/Shoulder Flag downwards
Market Direction Up Up Up Up
Market Comments All technical indicators from short to long-term are moving upwards direction showing strong bullish market. However this may last for a week or a month or two. The head and shoulder formation in the intermediate terms and flagging downward in the long term is something to watch out for as the reversal to bearish continuation could be huge and merciless. Note that the Bollinger band is also squeezing in smaller and smaller where eventually it will burst.



GBP-JPY
Technical Indicators 4 Hourly Daily Weekly Monthly
MACD Down Up Up Up
Full Stochastic Up Down Up Up
Bollinger Bands Middle Top Top Top
Chart Formation N/A N/A Head/Shoulder (Reverse) N/A
Market Direction Up Up Up Up
Market Comments Looking at all indicators especially the Head/Shoulder formation, the GBP-JPY is obviously bullish all the way for the time being. 4 Hourly Time frame Fibonacci retracement is already hit 50% which meant continuation upwards is most likely the way ahead.



GBP-USD
Technical Indicators 4 Hourly Daily Weekly Monthly
MACD Down Up Down Down
Full Stochastic Up Down Up Down
Bollinger Bands Middle Top Middle Bottom
Chart Formation N/A N/A N/A N/A
Market Direction Side way Side way up Down Side way
Market Comments It has been quite sometimes the cable pair is moving side way direction. The Bollinger Bands is already squeezed enough and there must be time it will burst. The major breakout direction most likely heading down-trend. However for the time being it could be side-ways



EUR-JPY
Technical Indicators 4 Hourly Daily Weekly Monthly
MACD Up Up Up Up
Full Stochastic Up Down Up Up
Bollinger Bands Top Top Top Top
Chart Formation N/A N/A N/A N/A
Market Direction Up Up Up Up
Market Comments Just like it's closest GBP-JPY the EUR-JPY is also obviously uptrend. All indicators are moving aligned upward directions. The Fibonacci line analysis shows that it has reached the 38.2% correction and trigger another breakout. There is strong chances the market may higher up.



AUD-USD
Technical Indicators 4 Hourly Daily Weekly Monthly
MACD Down Down Down Down
Full Stochastic Up Down Up Down
Bollinger Bands Middle Bottom Middle Middle
Chart Formation N/A N/A N/A N/A
Market Direction Down Down Side way Sideway
Market Comments The AUD-USD is the oddest pair that is not exactly following the technical indicators rule. Despite of the downward indication from short to long-term the pair still showing strong sign of bullish. This could be the result of Gold price that is closely related to the AUD which keeps it strong. The bollinger band indicator on the Weekly time frame is already squeezed, indicating a major breakout is on the way. However the direction is still unknown, most likely could be up-trend.



USD-CAD
Technical Indicators 4 Hourly Daily Weekly Monthly
MACD Up Up Up Up
Full Stochastic Down Up Down Up
Bollinger Bands Top Top Top Top
Chart Formation N/A N/A N/A Head/Shoulder (reverse)
Market Direction Up Up Up Up
Market Comments After a long-long time USD-CAD has been rallying sideway at the bottom. The Head/Should formation could be the best indicator to show the future market for this pair should be bullish all the way. All indicators already rallying to rocket the sky.


No comments:

Popular Posts