Market Watch

AUDCAD - In the overall outlook, this pair still has a long way to go down, at least to 0.93500. Although the monthly MACD is still on the underside but the STOC has come into the overbought area, so this is the chance to sell it again - We are now holding short positions at 0.99641 and 0.99763.

AUDNZD - This pair has the monthly MACD already on the underside and STOC is in the oversold area, so this is a chance to buy it - Yesterday we closed our long positions and took a profit of 245 pips. We are now turning downward and holding short positions at 1.04435.

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 - We are now holding short positions at 0.76550.

EURNZD - This pair has its monthly MACD already crossing to the underside, and although STOC has been in the oversold area, there is still some chances for it to go down more - We are now holding short positions at 1.53468.

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 and 1.11417.

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 - Yesterday we closed our short positions and took a profit of 128 pips. We are now standing aside waiting for another chance to get back in.

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 - We are now turning up and holding long positions at 0.70803 and 0.70733.

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 - Yesterday we closed our short positions and took a profit of 134 pips. We are now standing aside for a while waiting for a correct moment 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.