Market Watch

AUDCAD - 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 weekly STOC just passed the oversold level. We has been pulled down unexpectedly because of the rate cut from RBA but nothing is too serious - Yesterday we closed our positions and took a profit of 45 pips. We are standing aside out of precaution to see how this pair moves before getting in again.

EURJPY (BUY) - The pair has been passed the monthly oversold level and zero line. Although it will go down for some more, it is still presenting an opportunity to buy - Yesterday we closed part of our positions and took a profit of 83 pips. We are holding at 123.2120.

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.

GBPAUD (SELL) - With the monthly MACD is still on the upperside and daily STOC has been in the overbought area for some days, it is an opportunity to sell this pair again - We are holding our positions at 1.941490.

NZDCAD - Although this pair has a clear going down tendency on the monthly chart, but weekly STOCs is at oversold level thus presenting an opportunity to buy - Yesterday we closed our positions and took a profit of 95 pips. We are standing aside for a few day waiting a more clearer picture before getting back in.

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.