Market Watch

AUDCHF - This pair has its monthly STOC near the overbought level and its monthly MACD has the possibility to be down for sometime, so it is a chance to sell it - Last Friday we closed our temporary long positions and took a profit of 54 pips. We are now standing aside waiting for another chance to get back in for a buy.

AUDUSD - This pair still has its monthly MACD on the underside although STOC is near the overbought level, so it still has some distance to go (at least to 0.78300) for a buy before turning down - Overnight we closed our temporary long positions and took a profit of 66 pips. We are now holding long positions at 0.75380.

CADCHF - For this pair, although the monhly MACD is still low on the underside, but the STOC is going to cross down near the overbought level, so we will watch it carefully and go in for a buy or sell according to its movements - Last Friday we closed our long positions and took a profit of 44 pips. We are now standing aside waiting for another opportunity to buy it again.

EURAUD - Although the monthly STOC is near the oversold level but MACD still has some distances to go down at least to 1.4300, so it is a chance to sell whenever possible - Last Friday we closed our short positions and took a profit of 316 pips. We are now standing aside waiting for a minor correction to happen then selling it again.

EURGBP - The pair still has its monthly STOC in the overbought level and MACD has already been over the zero line, so this is a chance to sell it - We are now holding covered short positions at 0.80087, 0.80624 and 0.85373.

*EURJPY - The pair has been downwardly passed the monthly oversold level and zero line. Although it will go down for some more, it is still presenting an opportunity to buy or sell whenever there is a right condition - We are now holding long positions at 121.9238, 114.871 and 114.207.

GBPAUD - Although the monthly MACD is already going to the underside and STOC is in the oversold area, there is still some distances for it to go down, so we are in to sell this pair whenever possible - We are now holding long positions at 1.73876.

GBPCAD - This pair has the monthly MACD already on the upper side and the STOC is in the overbought area, so it has a potential to go downward eventually, so we will sell it whenever there is an opportunity to do so - Last Friday we closed our remaining short positions and took a profit of 75 pips. We are now standing aside waiting for another chance to sell it again.

*GBPCHF - This pair has the monthly STOC on the path downward to the oversold level and monthly MACD is already making a crossover near the zero line, so this is a chance to buy it whenever possible - We are now holding covered long positions at 1.32411 and 1.27863.

GBPJPY - This pair has its monthly STOC in the oversold area from March 2016 and MACD has been down on the underside for the same period, so this is a chance to buy it - We are now holding long positions at 133.026.

GBPUSA - The monthly MACD of this pair has been going far South on the chart and the STOC has been in the oversold area for three months, so this is an opportunity to buy it - We are now holding long positions at 1.33144.

NZDCAD - This pair has its monthly MACD on the upper side and STOC at the overbought level for 2 months, so this is a chance to sell it - We are now holding our covered short positions at 0.95583, 0.95390 and 0.95616.

USDCAD - The pair will need some upward corrections before going down again, at least to 1.2460 level, so this is a chance to sell it whenever there's an opportunity to do so - We are now holding covered short positions at 1.31497.

*USDJPY - It is an opportunity to buy this pair when monthly MACD has gone to the underside and the STOCs is already in oversold area - We are now holding long positions at 101.9850 and 102.439.

(Charts: Forex Trader)

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.