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 covered our short positions and are now holding at 0.96726.

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 0.82839.

GBPCHF (BUY) - This pair has the monthly STOC near the oversold level from April and MACD at the extreme level on the underside, so this is a chance to buy it - We covered our long positions and are now holding at 1.27212.

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 are now holding new long positions at 101.640.

(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.