Forex Technical Analysis (29 April 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: 27 April 2013

Time: 6:32 PM (+8 GMT)

EUR-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Up	Down	Up
Full Stochastic	Up	Down	Up	Up
Bollinger Bands	Top	Middle	Middle	Middle
Chart Formation	Head/Shoulder	Head/Shoulder	Head/Shoulder	N/A
Market Direction	Up	N/A	N/A	N/A
Market Comments	The short and intermediate term maybe going sideways to fight support/resistance but the Head/Shoulder formation is a strong sign of bearish trend.

GBP-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Up	Down	Down
Full Stochastic	Up	Up	Up	Down
Bollinger Bands	Top	Top	Middle	Bottom
Chart Formation	N/A	N/A	N/A	N/A
Market Direction	Up	Up	N/A	N/A
Market Comments	Short and Intermediate term is correction upward. The long-term still showing going sideway although MACD/Stochastic is both heading down. The head-shoulder formation in the monthly time frame could be a sign of long-term bearish but, the weirdest is the pair seems to be already crawling at its lowest ground floor.

GBP-JPY
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Down	Up	Up	Up
Full Stochastic	Down	Up	Up	Up
Bollinger Bands	Bottom	Top	Top	Top
Chart Formation	N/A	N/A	N/A	N/A
Market Direction	Down	Up	Up	Up
Market Comments	Smallest scale short term is going down but all seems to be heading upward. Perfect bullish with unknown limit. Most likely 162.384 previous historical price level

EUR-JPY
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Down	Up	Up	Up
Full Stochastic	Down	Down	Up	Up
Bollinger Bands	Bottom	Middle	Top	Top
Chart Formation	N/A	N/A	N/A	N/A
Market Direction	Down	Up	Up	Up
Market Comments	Together with GBP-JPY this pair strong bullish the first historical price target should be 134.186

AUD-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Down	Down	Down
Full Stochastic	Down	Down	Up	Down
Bollinger Bands	Middle	Bottom	Bottom	Middle
Chart Formation	N/A	N/A	N/A	N/A
Market Direction	Down	Down	Sideway	Sideway
Market Comments	Despite of the major technical indicators all showing downward the AUD-USD is still in strong bullish mood. This is probably due to the strong Gold prices. This is the trickiest pair.

USD-CAD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Down	Down	Up	Up
Full Stochastic	Down	Down	Down	Up
Bollinger Bands	Bottom	Middle	Top	Top
Chart Formation	N/A	N/A	N/A	Head/Shoulder
Market Direction	Down	Down	Neutral	Sideway
Market Comments	The squeezing bollinger bands is a strong indicator there could be major breakout along the way. Mostly shooting up to the sky since the ground floor seems to be very solid and no traces of past price going down beyond that. The head/shoulder reverse formation in monthly time frame also indicate the future is bullish.