Market Watch

AUDJPY (BUY) - Although this pair still has some distance to go down before making a turn, but we want to catch a correction in the progress as the daily STOC has started to go up from the oversold area, so we decide to get in for a buy - We covered our long position and are now holding at 79.4995.

EURGBP (SELL) - The pair has turned back from the monthly overbought level and this is an opportunity to sell, but MACD is still on the underside, so the risk is still there and we will be very cautious - Yesterday we closed our positions and took a profit of 89 pips. We are now standing aside to wait for a daily correction happens then will sell this pair again.

EURNZD (SELL) - This pair has a rebound from the April low and will go down, at least to 1.58038, so we decide to sell it again - We covered our short positions and are now holding at 1.657660.

GBPAUD (SELL) - With the monthly MACD is still on the upper side and weekly STOC is in the overbought area, we decide to sell this pair earlier - We covered our short positions from last week and now holding at 1.987555.

GBPCAD (SELL) - This pair still has the monthly MACD on the upper side and got some distance to sell, at least to 1.76500 level. With a rebound from weekly oversold level, we decide to get in a bit early - We covered our short positions and are now holding at 1.913365.

GBPNZD (SELL) - For the longtime outlook, this pair still has some distance to sell, at least to 2.0300 level, although the weekly STOC is already turning up from the oversold areas, so we decide to get in again - We covered our short positions and are now holding at 2.148730.

GBPJPY (BUY) - This pair has been in the monthly oversold area and MACD has passed the zero line. The weekly STOC has turned up, so we decide to get in for a buy - Yesterday we closed our positions and took a profit of 136 pips. We are now standing aside to wait for the daily correction getting over before buying this pair again.

NZDJPY (BUY) - This pair's monthly MACD and STOC have been on the underside and in the oversold level for nearly 2 months, so this is a chance for us to buy it - We covered our long positions and are now holding at 74.1845.

USDCAD (SELL) - The pair will need some corrections before going down again, at least to 1.2300 level, so we decide to sell it a bit early - Yesterday we closed some of our positions and took a profit of 52 pips. We are now holding at 1.302430.

(Charts: Forex Trader)

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