Market Watch
EURUSD
GBPCAD
NZDUSD
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 covered short positions at 0.99763, 1.00216 and 1.00872.
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 0.73840 and 0.74058.
EURUSD - 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 - Yesterday we closed some of our positions and took a profit of 108 pips. We are now still holding long positions at 1.11502 .
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 - Yesterday we closed our long positions and took a profit of 192 pips. We are now standing aside waiting for another chance to get in again.
NZDUSD - This pair has its monthly MACD going up from an underside crossover and the STOC is already in the overbought level, so this is the time to go around and sell this pair temporarily - We are now holding temporary long positions at 0.72942.
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 covered long positions at 101.7300, 101.0860 and 100.9930.
(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.