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 are now holding short positions at 0.76902.

EURAUD (SELL/BUY) - Although the monthly STOC has already passed the oversold level but MACD still has some distances to go down at least to 1.4300, so it is a chance to sell whenever possible - Yesterday we closed our new short positions and took a profit of 90 pips. We are now standing aside to wait for a correction before entering again.

EURNZD (SELL) - This pair has its monthly MACD already crossing to the underside, and although STOC has been in the oversold area, there is still some chances for it to go down more - Yesterday we closed our new short positions and took a profit of 43 pips. We are now standing aside to wait for a correction before entering again.

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 - Yesterday we closed our short positions and took a profit of 230 pips. We are now still holding short positions at 1.72248.

NZDCHF (BUY/SELL) - This pair still has its monthly MACD on the underside and STOC is already in the overbought area for nearly two months, so this is a chance to sell it although we usually refer to by this pair because of the rollover rate - We are now holding covered short positions at 0.71800, 0.71777 and 0.71946

(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.