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 our short positions and took a profit of 107 pips. We are now standing aside waiting for a correction before getting back in.

AUDJPY - This pair has its monthly MACD starting to make a crossover upward with STOC already did, so for a long term trend, it would be a buy until the 80 level - Yesterday we closed our temporary short positions and took a profit of 25 pips. We are now standing aside waiting for another right moment to get back in.

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 new long positions and took a profit of 155 pips. We are now standing aside waiting for another chance 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.