Forex Technical Analysis (19 May 2013) - Next Week Outlook

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: 19 May 2013

Time: 10:19 AM (+8 GMT)

EUR-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Down	Down	Up
Full Stochastic	Down	Down	Up	Down
Bollinger Bands	N/A	N/A	N/A	N/A
Chart Formation	N/A	N/A	Head/Shoulder	Flag
Market Direction	Neutral	Down	Neutral	Neutral
Market Comments	As discussed here (Forex Technical Analysis) Now that the Head/Shoulder formation is becoming obvious in the weekly time frame and MACD/Stochastic indicators also almost synced downward direction. There is strong indication downtrend is about to continue its course of direction. All along next week could be a major downfalls with the expected price target should be around 1.26XX

AUD-USD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Down	Down	Down	Down
Full Stochastic	Down	Down	Down	Down
Bollinger Bands	Bottom	Bottom	Bottom	Bottom
Chart Formation	N/A	N/A	N/A	N/A
Market Direction	Down	Down	Down	Down
Market Comments	As discussed last week (AUD-USD Weekly outlook) the second candle has been formed as expected in the weekly time frame. Sitting at the strong resistant level the movement still have some more gas to go further down as MACD/Stochastic signal still goes down in the monthly time frame. This is the trickiest pair to trade but i have we must believe this time it should go down beyond the resistant 0.97XX

USD-CAD
Technical Indicators	4 Hourly	Daily	Weekly	Monthly
MACD	Up	Up	Up	Up
Full Stochastic	Up	Up	Down	Up
Bollinger Bands	Top	Top	Top	Top
Chart Formation	N/A	N/A	N/A	Head/Shoulder
Market Direction	Up	Up	Neutral	Up
Market Comments	All the major time frame MAC/Stochastic already point upwards. Supported by Head/Shoulder formation (reverse) in the monthly time frame and also the squeezing size of the bollinger band. The major breakout that all has been waiting for is about to burst.The month of May should be bullish all along and nothing can stop it this time. The target could be as high as 1.21XX with the estimated volume of 1900 pips altogether. We will wait and see.