Forex Technical Analysis (09 May 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: 09 May 2013

Time: 09:51 PM (+8 GMT)

EUR-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Down	Up	Down	Up
Full Stochastic	Down	Down	Up	Down
Bollinger Bands	Middle	Middle	Middle	Middle
Chart Formation	N/A	Head/Shoulder	Head/Shoulder	Flag Down
Market Direction	Down	Neutral	Neutral	Down
Market Comments	Ever since the EUR-USD made its correction upward it has been fluctuating within 1.30028 Support and 1.3215 Resistance level. There were 3 attempts to break the resistant level of 1.3215 but seems to fail. This indicates a strong bearish trend in the long-term period and could make a breakout in just a matter of time. The contra-direction between MACD and Stochastic in the weekly and monthly time frames will keep the market movement sideways at least at this time around. Until both indicators synchronize in one direction (down), the breakout could be massive.

GBP-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Up	Down	Down
Full Stochastic	Up	Down	Up	Down
Bollinger Bands	Middle	Top	Middle	Bottom
Chart Formation	N/A	N/A	N/A	Head/Shoulder
Market Direction	Up	Up	Sideways	Sideways
Market Comments	GBP-USD is having a weird movement and it may continue gradually sideway down trend. Although there is Head/Shoulder and MACD + Stochastic both synced downtrend, the market is already moving on its lowest ground. There was no history of record price lower than the current market.

GBP-JPY
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Down	Up	Up	Up
Full Stochastic	Up	Up	Up	Up
Bollinger Bands	Top	Top	Top	Top
Chart Formation	N/A	N/A	N/A	N/A
Market Direction	Sideway	Up	Up	Up
Market Comments	All major indicators showing the way up, this is obvious bullish with most likely target could be reaching as high as 231.805 previous record price.

EUR-JPY
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Up	Up	Up
Full Stochastic	Up	Up	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 the GBP-JPY, the graph is identical as much as the market movement almost the exact replica of one another. Obvious bullish.

AUD-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Down	Down	Down
Full Stochastic	Up	Down	Down	Down
Bollinger Bands	Middle	Bottom	Bottom	Middle
Chart Formation	Head/Shoulder	N/A	N/A	N/A
Market Direction	Up	Down	Down	Down
Market Comments	The AUD-USD is getting weirder everyday, despite the massive drop in Gold prices there seems to be no impact to the pair. Although all indicators synced downtrend but it still stays strong at the top. Could be getting higher against all odds?

USD-CAD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Down	Down	Up
Full Stochastic	Up	Down	Down	Up
Bollinger Bands	Bottom	Bottom	Bottom	Middle
Chart Formation	N/A	N/A	Head/Shoulder	Head/Shoulder
Market Direction	Up	Down	Down	Up
Market Comments	It has been long-time crawling at the bottom, and completed the Head/Shoulder reverse formation. This will be waiting for long-long term bullish trend. Further downtrend would be the impossible as the current position is the lowest at all time record.