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 - Overnight we closed our positions and took a profit of 51 pips. We are now holding at 0.97958.

AUDJPY (BUY) - Although this pair still has some distance to go down before making a turn, but we want to catch a correction in the progress as the weekly STOC has been up from the oversold area, so we decided to get in for a buy - Overnight we closed our positions and took a profit of 108 pips. We are now standing aside waiting for another opportunity to buy this pair again.

EURCAD (SELL) - For this pair, this is a rebound we have been waiting for from April's low when the weekly MACD started to go under the zero line, so we decided to get in for a sell - Overnight we closed our positions and took a profit of 174 pips. We are now standing aside waiting for another opportunity to buy this pair again.

USDJPY (BUY) - It is an opportunity to buy this pair 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 266 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.