Monday, December 30, 2013

AUDUSD Daily , Weekly Outlook for 30th December, 2013 (MONDAY)

AUDUSD Daily , Weekly Outlook for 30th December, 2013 (MONDAY)


Weekly Chart

  • Trend is Bearish
  • Stochastics is oversold but flat
  • RSI pointing slightly down and above 30
  • At a important level of support
Looking at the weekly, it seems oversold, however further downside is more appealing.  


Daily Chart


  • Trend is down
  • Stochastic is pointing down
  • RSI is around 30
Base on the Daily chart, I cannot trade it at these levels, Indicators are pointing lower , as the upside is limited as we previously tested last week. We will wait for the market to tell us what to do.



Hourly Chart



  • Trend is Down
  • Stochastic pointing up
  • BAT pattern , however upside limited
By the time i wrote this, I am too late to join the bat pattern play. On the upside resistance come at the 0.88720 and 0.8890, If market reaches there, we could have a short position.

Outlook Trade opportunity

Risky trade to hold longer times , so better trade scalps
#1 - Short from 0.8872
#2 - Short from 0.8890

Risk Level High


Tips -

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