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 and 1.01679 and 1.01972.

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 holding short positions at 80.180.

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.

CADCHF - For this pair, although the monthly 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 - We are now holding short positions at 0.74751.

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 - Yesterday we closed our positions and took a profit of 139 pips. We are now standing aside waiting for another opportunity to get in.

(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.