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 this is the chance to sell it again - On 8/17 we closed our short positions and took a profit of 82 pips. After waiting awhile for an upward correction happened, we are now holding short positions again at 0.98551.

AUDNZD (BUY) - This pair has the monthly MACD already on the underside and STOC is in the oversold area, so this is a chance to buy it - We are now holding our covered long positions at 1.04040.

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 - Yesterday we closed our short positions and took a profit of 364 pips. We are now standing aside waiting for a minor correction before getting in again.

NZDUSD (BUY/SELL) - This pair has its monthly MACD going up from an underside crossover and the STOC is already in the overbought level, so this is the time to go around and sell this pair temporarily - We are now holding covered short positions at 0.73068 and 0.73382.

USDCAD (SELL) - The pair will need some upward corrections before going down again, at least to 1.2460 level, so this is a chance to sell it whenever there's an opportunity to do so - Yesterday we closed our short positions and took a profit of 233 pips. We are now standing aside waiting for a minor correction before getting in 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.