Market Watch

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 - We are now holding covered long positions at 0.74170.

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 0.85660.

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 113.839.

EURUSD (SELL) - We shall pay close attention to this pair. In a wider picture it is a buy, when monthly MACD is still on the underside and STOC is not near the overbought level yet, that's why we decide to get in sometime and sell it temporarily. We will not be in for long, just long enough to grab some profits and get out - We are now holding long positions at 1.11502.

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 will sell this pair whenever possible - We are now holding long positions at 1.73876, 1.73114 and 1.71823

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 covered long positions at 132.565.

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 0.95748, 0.95616 and 0.95840.

NZDCHF - This pair still has its monthly MACD on the underside and STOC is already in the overbought area for nearly two months, so this is a chance to sell it although we usually refer to buy this pair because of the rollover rate - Yesterday we closed our new short positions and took a profit of 34 pips. We are now standing aside watching for direction to get in again.

(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.