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 - Yesterday we closed some of our positions and took a profit of 138 pips. We are now still holding covered short positions at 1.00569 and 1.00216.

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 and 0.74650.

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 - Yesterday we closed our long positions and took a profit of 181 pips. We are now standing aside waiting for another opportunity to get back in.

CHFJPY - Its monthly STOC has been in the oversold area since 2/16 and MACD has already passed the zero line, so this is a chance to buy this pair - Yesterday we closed our long positions and took a profit of 204 pips. We are now standing aside waiting for a minor correction to happen before getting back in.

EURCAD - This pair has had some repeatedly rebounds from April's low when the weekly MACD started to go under the zero line, so we decided to get in for a sell whenever it has a rebound from monthly AL - Yesterday we closed our short positions and took a profit of 145 pips. Now we are standing aside waiting for another chance to get back in.

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 - Yesterday we closed some of our positions and took a profit of 175 pips. We are now still holding long positions at 113.576 and 114.145.

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 105 pips. We are now standing aside waiting for a right moment to get in again.

GBPNZD - This pair has its monthly MACD well on the underside and STOC is in the oversold area for two months, but there is still some chances for it to go down a bit before turning up, so we will sell it whenever there is an opportunity to do so - Yesterday we closed our temporary long positions and took a profit of 230 pips. We are now standing aside waiting for another chance to get back in.

NZDJPY - Although this pair's monthly MACD has been on the underside, but monthly STOC has arised from the oversold level for about 2 months, so this is a time to buy (or sell) whenever there's a chance to do so - Yesterday we closed our long positions and took a profit of 138 pips. We are now standing aside waiting for a minor correction then getting back in again.

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 282 pips. We are now standing aside waiting for a correction to happen 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.