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.