Market Watch

AUDCAD (SELL) – It is starting to go down but the daily STOC is right at the oversold level, so to make sure that we would not be caught by a correction we want to stand aside for a few days and wait for another opportunity to get in and sell again. It’s at 0.98050.

EUR/GBP – The pair has been near overbought level and this may be an opportunity to sell, but monthly MACD is still on the underside, so the risk is still there and we will be very cautious. We closed part of our position for this pair and took a profit of 60 pips. We are still in at 0.801080.

EURJPY – The pair has been passed the monthly oversold level and zero line. It will go down for some more before making a turn. That is indicating on both weekly and monthly levels so we will consider to get in for a buy when the opportunity presents itself. (And it did and we were in at 123.1090). It’s at 123.315.

GBPUSD (BUY) – This pair will go down some more before turning up. It’s near the historical level at 1.4000, but the monthly STOC is already in the oversold area. We closed part of our open position for this pair and took a profit of 117 pips. We are still in at 1.42313. It’s at 1.42319.

NZDJPY – This pair also has been passed the monthly oversold level and zero line. Although it’s still have some distance to go down but on the daily chart is indicating a possibility of a turn. We will wait for some times before getting in. It’s at 123.126.

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 articles.