AUDUSD Daily Outlook for 20th December 2013 (Friday)

Friday, December 20, 2013

On the daily chart it broke through the August 30th Lows / broke through 100% full retrace
Because of this we expect the market to go lower after retrace and towards 0.870

Market was trading within range yesterday, however at the time of writing it has broke up from the range yesterday,
We are aiming for the market to go up to Daily Pivot R2 and go short from there
At that level there is a 61.8 retrace, and FE100 which gives room to short to go back to FE127 at least

Our Short limit placed at 0.89050 - for around 30pips partial tp, and let market play down to new lows. Lets hope we get filled

Always take note of any economical news event on our provided calender below

Retail Forex Trader Analysis and Trade Setups by Howard Tsang - Australia