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 - Yesterday we closed our short positions and took a profit of 83 pips. We are now standing aside waiting for another chance to get in again.

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 - We are now holding long positions at 0.73213 and 0.72962.

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 long positions at 0.74689.

EURGBP (SELL) - The pair still has its monthly STOC in the overbought level and although MACD is already over the zero line, we think it a chance to sell - We are now holding covered short positions at 0.80087, 0.80624 and 0.85024.

GBPCHF (BUY) - 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 - Yesterday we closed our temporary short positions and took a profit of 84 pips. We are now standing aside waiting for another chance to get in again.

NZDJPY (BUY/SELL) - Although this pair's monthly MACD has been on the underside, but monthly STOC has arised from the oversold level for about 2 months, so this is a time to buy (or sell) whenever there's a chance to do so - We are now standing aside waiting for another chance to get in again.

NZDUSD (BUY) - 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 - Yesterday we closed our short positions and took a profit of 157 pips. We are now standing aside waiting for another chance to get in again.

USDJPY (BUY) - 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 temporary short positions and took a profit of 177 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.