Market Watch

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 some of our positions and took a profit of 155 pips. We are now holding at 0.776615.

EURJPY (BUY) - The pair has been downwardly passed the monthly oversold level and zero line. Although it will go down for some more, it is still presenting an opportunity to buy - We are now holding at 117.967.

GBPNZD (SELL) - For the longtime outlook, this pair still has some distance to sell, at least to 1.9700 level, and the weekly STOC has turned down near the overbought area, so we decide to get in again - We are now holding 2.04866.

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 are now holding at 74.1570.

USDJPY (BUY) - It is an opportunity to buy when the both monthly and weekly STOCs have been in the oversold area for more than 2 months - We covered our long positions and are now holding at 106.0423.

(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.