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 again holding short positions at 1.00983.

AUDCHF - This pair has its monthly MACD on the up trend for more than 4 months and STOC has been in the overbought level starting to make a crossover downward, so it is a chance to sell it at least to the 0.7200 level - We are now still holding covered short positions at 0.74993 and 0.75310 and 0.75989.

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 - We are now standing aside waiting for another right moment to get back in.

AUDNZD - For a long term trend this pair is for a buy because it has the monthly MACD still on the underside, but STOC is turning up lightly from the oversold area, so we will sell it temporarily whenever we have a chance - We are now turning downward and holding covered short positions at 1.04848 and 1.05477.

AUDUSD - This pair still has its monthly MACD on the underside although STOC is near the overbought level, so it still has some distance to go for a buy before turning down - We are now holding short positions at 0.77244.

EURAUD - This pair has its monthly MACD near the zero line and STOC is already passing into the oversold level, so it is almost the time for this pair to turn up - We are now holding covered long positions at 1.42601.

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 will get in for a sell whenever it has a rebound from monthly AL - We are now holding temporary long positions at 1.43866.

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 turning down near the overbought level, but we will get in sometime and sell it temporarily whenever we have a chance. We will not be in for long, just long enough to grab some profits and get out - We are now holding covered long positions at 1.11181.

GBPCAD - This pair has the monthly MACD already on the under side and STOC is in the overbought area, so it has a potential to go upward eventually, so we will buy it whenever there is an opportunity to do so - We are now standing aside waiting for another chance to get in again.

GBPNZD - This pair has its monthly MACD well on the underside and STOC is in the oversold area for four 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 - We are now standing aside waiting for another chance to get back in.

USDCAD - The pair has its monthly MACD on the path of going down and STOC is near the oversold level, so this is a chance to sell it whenever there's an opportunity to do so - We are now holding short positions at 1.32315.

(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.