Market Watch

AUDCHF (BUY/SELL) - This pair has its monthly STOC already going into the overbought level and its monthly MACD has the possibility to be down for sometime, so it is a chance to sell it for a while - Last Friday we closed our short positions and took a profit of 82 pips. We are now standing aside to wait for a correction before entering again.

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 - Last Friday we closed our short positions and took a profit of 118 pips. We are now standing a side waiting for a minor correction before getting in again.

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 - Last Friday we closed our short positions and took a profit of 116 pips. We are now standing aside waiting for another opportunity to get in again.

CADCHF (BUY/SELL) - For this pair, although the monhly MACD is still low on the underside, but the STOC is going to cross down near the overbought level, so we will wait patiently for a good moment to cover our long positions and wait for a rise at least to 0.77300 level - Overnight we closed our short positions and took a profit of 48 pips. We are now still holding long positions at 0.766697.

EURAUD (SELL) - 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 - We are now holding short positions at 1.49376.

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 - We are now holding short positions at 1.46977.

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.

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 chances for it to go down a bit before turning up, so we will sell it whenever there is an opportunity to do so - Last Friday we closed our new short positions and took a profit of 49 pips. We are now standing aside to wait for a correction before entering again.

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 - Overnight we closed our positions and took a profit of 61 pips. We are now standing aside waiting for another chance to get 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.