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 come into the overbought area, so we decided to sell it again - We covered our short positions and are now holding at 0.98573.

EURCAD (SELL) - This pair has had some repeatedly rebounds from April's low when the weekly MACD started to go under the zero line, so we decided to get in for a sell whenever it has a rebound from monthly AL - Overnight we closed our positions and got a profit of 62 pips. We are now standing aside waiting for another chance to get in again.

EURGBP (SELL) - The pair has turned back to the monthly overbought level and although MACD is already over the zero line, but we still think it a chance to sell - We covered our short positions and are now holding at 0.80087, 0.80624 and 0.82839.

USDCAD (SELL) - The pair will need some corrections before going down again, at least to 1.2600 level, so we decided to sell it again - We covered our short positions and are now holding at 1.287877.

(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.