Market Watch

AUDUSD (BUY/SELL) - This pair still has its monthly MACD on the underside although STOC is near the overbought level, so it still has some distance to go (at least to 0.78300) for a buy before turning down - We covered our long positions and now holding at 0.75625.

EURJPY (BUY/SELL) - 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 or sell whenever there is a right condition - We are now holding long positions at 121.9238 and temporary covered short positions at 114.3330.

EURUSD (SELL) - We shall pay close attention to this pair. In a wider picture it is a buy, when monthly MACD is still on the underside and STOC is not near the overbought level yet, that's why we decide to get in and sell it temporarily. We will not be in for long, just long enough to grab some profits and get out - Yesterday we closed some of our positions and took a profit of 122 pips. We are now standing aside waiting for a chance to get in again.

GBPAUD (SELL) - Although the monthly MACD is already going to the underside and STOC is in the oversold area, there is still some distance to go down, so we are in to sell this pair again - We are now holding short positions at 1.72186, 1.73802 and 1.74276.

GBPCHF (BUY/SELL) - This pair has the monthly STOC being in the oversold level for two months and MACD at the low on the underside, so this is a chance to buy it - We are now holding long positions at 1.32411 and short positions at 1.28204.

USDCAD (SELL) - The pair will need some corrections before going down again, at least to 1.2460 level, so we decided to sell it again - We covered our short positions and are now holding at 1.30711.

USDJPY (BUY/SELL) - It is an opportunity to buy this pair when monthly MACD has gone to the underside and the STOCs is already in oversold area - Yesterday we closed our long positions and took a profit of 36 pips. We are now standing aside waiting for a minor correction before buying it 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.