Market Watch

AUDCAD (SELL) - In the overall outlook, this pair still has a long way to go down, at least to 0.92100. Although the monthly MACD is still on the underside but the STOC has turned down near the overbought area, so we decided to go in and sell it again - We are now holding at 0.96228.

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 - We covered our short positions and are now holding at 0.79176.

GBPJPY (BUY) - This pair has been in the monthly oversold area and MACD has passed the zero line. The weekly MACD is still on the underside, so we decided to get in for a buy - We covered our long positions and are now holding at 148.8068.

GBPUSD (BUY) - This pair has been down to the oversold level from January 2016 and the monthly MACD is on the underside at an extreme level, so we are looking for a chance to buy this pair - We are now holding at 1.37979.

(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.