Market Watch

AUDJPY (BUY/SELL) - Although this pair has its monthly STOC already left the oversold area, MACD is still on the underside, thus it has some distance to go down before making a turn - We are now holding temporary short positions at 78.5990.

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.

EURAUD (SELL) - The weekly STOC has already passed the oversold level and in a wider picture it has the potential to go down at least to 1.4300, so we decide to get in and sell it again - We are now holding at 1.47944 and 1.48218.

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 took a profit of 109 pips. Now we are standing aside waiting for another chance to get in again.

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 and 115.7170.

GBPCAD (BUY/SELL) - Although this pair has the monthly MACD already on the underside and the STOC at the extreme oversold level, but it still has some distance to go downward, so we will sell it whenever there is an opportunity to do so - We are now holding short positions at 1.72248 and 1.74137.

GBPNZD (BUY/SELL) - This pair has its monthly MACD well on the underside and STOC is in the oversold area for three months, but there is still some chance for it to go down a bit before turning up, so we will sell it whenever there is an opportunity to do so - We are now holding temporary short positions at 1.82860.

NZDCAD (BUY/SELL) - This pair has its monthly MACD on the upper side and STOC at the overbought level for 2 months, so this is a chance to sell it - We are now holding our short positions at 0.94905.

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.

(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.