Saturday, April 27, 2013

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.

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