Market Watch

AUDCAD (SELL) – It is starting to go down and although there is a risk of upward correction but we want to catch the downside early so we decide to go in and sell it – Yesterday we closed part of our positions and took a profit of 59 pips. Now we are holding our positions at 0.98617.

AUDNZD (SELL) – Although the monthly MACD is on the underside but the weekly STOC has turned at the overbought level, so we decide to get in and sell this pair at 1.11943.

EURGBP (SELL) – The pair has been near overbought level and this is an opportunity to sell, but monthly MACD is still on the underside, so the risk is still there and we will be very cautious – Yesterday we closed part of our positions and took a profit of 90 pips. We are holding our positions at 0.78670.

EURJPY (BUY) – 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 happening at the daily levels. We are holding our positions at 123.9550 and wait for an opportunity to buy more.

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 1.131310.

GBPUSD (BUY) – This pair has been bound back from the historical level at 1.4000 and the monthly STOC is already in the oversold area. We continue to hold our positions at 1.428840 and wait for the downside correction to be over then buy again.

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.