Market Watch
AUDCAD (BUY) – In the overall outlook, this pair still has a long way to go down, but right now it is presenting an opportunity to buy when the daily STOC is at oversold level, so we decided to get in and buy it at 0.95798. We will keep an eye on this pair in case we need to get out quickly so that we do not have to be pulled down unexpectedly.
AUDJPY (BUY) – This pair has some distance to go down before making a turn. We will be watching it to look for an opportunity to get in for a buy.
AUDNZD (SELL) – Although the monthly MACD is on the underside but the weekly STOC has turned near the overbought level – Yesterday we closed all of our positions and took a profit of 88 pips – We are standing aside for the time being to wait for a correction then will sell it again.
EURGBP (SELL) – The pair has been near overbought level and this is an opportunity to sell, but monthly MACD is still on the underside, so the risk is still there and we will be very cautious – We are now holding our positions at 0.77703.
EURJPY (BUY) – The pair has been passed the monthly oversold level and zero line. It will go down for some more and although the daily STOC is already making a turn near the overbought level, it is still presenting another opportunity to buy – We decided to buy more and holding a new positions at 122.8420.
GBPJPY (BUY) – We will have an opportunity to buy this pair again after a long time waiting because the weekly STOC has already turned from the oversold area. We are keeping an eye on the daily chart for that opportunity and will get in when it is safe to do so.
GBPNZD (SELL) – For the longtime outlook, this pair still has some distance to sell although the weekly STOC is already in the oversold areas. We decide to go in for a sell and will observe it closely in order to get out when the condition is reversed – Yesterday we closed part of our positions and took a profit of 150 pips. We are holding our new positions at 2.09514.
NZDCAD (BUY) – Although this pair has a clear going down tendency on the monthly chart, but daily and weekly STOCs are at oversold areas so we decide to go in for a buy – Overnight we closed part of our positions and took a profit of 63 pips. We are holding new positions at 0.874150.
NZDJPY (BUY) – This pair has a potential to go up again but the daily STOC is still in the overbought level, so we will wait for a few days before getting in for a buy.
USDJPY (BUY) – We have not been buying or selling this pair for some times, but now it is an opportunity to buy after the weekly STOC is down at an extreme level in the oversold area – We are now holding our positions at 107.8470.
Disclaimer: This is a personal analysis, not an actual advice, therefore we will not accept any liability for any loss and damage which may arise directly or indirectly from the content of these and future articles.