Market Watch
AUDCAD (BUY) – In the overall outlook, this pair still has a long way to go down, but right now it is presenting an opportunity to buy when the daily STOC is at oversold level, so we decided to get in and buy it. We will keep an eye on this pair in case we need to get out quickly to avoid being pulled down unexpectedly – We are holding our positions at 0.95798.
AUDJPY (BUY) – Although this pair still has some distance to go down before making a turn, but we want to catch a correction in the progress so we decide to get in for a buy – We are holding our positions at 81.3180.
EURAUD (SELL) – Although this pair has the weekly STOC starting to turn up from the oversold level, the 4-hour chart is on the upside and overbought level, so we decide to get in for an early sell and ready to get out quickly if the condition is reversed – We are holding our positions at 1.50780.
EURGBP (SELL) – The pair has been near overbought level and this is an opportunity to sell, but monthly MACD is still on the underside, so the risk is still there and we will be very cautious – We are now holding our positions at 0.78235.
EURJPY (BUY) – The pair has been passed the monthly oversold level and zero line. It will go down for some more and although the daily STOC is already making a turn near the overbought level, it is still presenting another opportunity to buy – Last Friday we closed part of our positions and took a profit of 27 pips. We decided to buy more and holding a new positions at 122.8420.
EURUSD (SELL) – We will pay close attention to this pair. In a wider picture it is a buy, but we see the weekly STOC has been in the overbought level, that’s why we decide to get in and sell it temporarily. We will not be in for long, just long enough to grab some profits and get out – We are holding our positions at 1.14373.
GBPJPY (BUY) – We will have an opportunity to buy this pair again after a long time waiting because the weekly STOC has already turned from the oversold area. We are keeping an eye on the daily chart for that opportunity and will get in when it is safe to do so.
GBPNZD (SELL) – For the longtime outlook, this pair still has some distance to sell although the weekly STOC is already in the oversold areas – Last night we closed our positions and took a profit of 52 pips. We stand aside to wait for another opportunity to sell again.
NZDCAD (BUY) – Although this pair has a clear going down tendency on the monthly chart, but daily and weekly STOCs are at oversold areas so we decide to go in for a buy – We are holding new positions at 0.874150.
USDJPY (BUY) – We have not been buying or selling this pair for some times, but now it is an opportunity to buy after the weekly STOC is down at an extreme level in the oversold area – We are now holding our positions at 107.189.
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.