EURUSD Daily Outlook for 11th December, 2013

Daily Chart

Pin bar liked candle produced rejecting the R1 Weekly however did not touch the 1.380

• Possible downside, however wary as i would like to see it test the 1.38 area
• Market sentiment of retail traders are all time high for shorts, which makes it a high possibility it could go higher

Hourly Chart

A the time of price action continued lower after rejecting daily pivot.
Chart wise, i believe we are in the middle of no where.

• Until we get a clearer direction, then we will look for a trade opportunity

Outlook Trade opportunity

We are in the middle of no where, its too close to major resis (1.38 handle), 

• All time high for retail traders for shorts, and makes it a good chance where we could perform higher highs to take retail traders out.
• December historically ends positive month
• So i will not trade until clearer direction

for risk takers - you could follow retail traders and short it at this level, risk :reward is good!

Risk Level _ - NO TRADE

Tips -

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