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 covered short positions at 1.00569, 1.00216 and 1.01154.

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 - We are now holding short positions at 0.74486.

AUDJPY - Although this pair has its monthly STOC already left the oversold area, MACD is still on the underside, thus it has some distance to go down before making a turn - Yesterday we closed our positions and took a profit of 83 pips. We are now standing aside waiting for another chance to get back in.

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 for long term - We are now turning downward and holding covered short positions at 1.04848 and 1.05477.

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 - We are now again holding long positions at 1.46169.

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 - Yesterday we closed some of our positions and took a profit of 36 pips. We are now still holding covered long positions at 1.29618 and 1.27101.

(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.