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 - Yesterday we closed our positions and got a profit of 81 pips. We are now standing aside waiting for another chance to get in again.

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 - We are now standing aside waiting for another opportunity to buy this pair 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 - We are now holding at 121.9238 (waiting for result from the 4-hour chart)

NZDJPY (BUY) - This pair's monthly MACD and STOC have been on the underside and at the oversold level for nearly 4 months, so this is a chance for us to buy it - We are now standing aside waiting for another chance to buy it again.

USDCAD (SELL) - The pair will need some corrections before going down again, at least to 1.2300 level, so we decided to sell it again - We covered our short positions and are now holding at 1.287877.

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 4 months - We are now holding at 102.3770.

(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.