Market Watch

AUDCAD (SELL) - In the overall outlook, this pair still has a long way to go down, at least to 0.93500. 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 0.97485.

EURNZD (SELL) - This pair has a rebound from the April low and will go down eventually, so we decide to sell it again - Last Friday we closed our positions and took a profit of 182 pips. We are now standing aside waiting for a correction to happen before going back in and sell it again.

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 - Overnight we closed some of our positions and took a profit of 113 pips. We are now standing aside for another opportunity to buy this pair again.

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 - Last Friday we closed some of our positions and took a profit of 22 pips. We are holding at 1.30286.

USDJPY (BUY) - It is an opportunity to buy when both monthly and weekly STOCs have been in the oversold area for more than 2 months - Overnight we closed some of our positions and took a profit of 50 pips. We are now standing aside for another opportunity to buy this pair again.

(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.