EURUSD Daily Outlook for 16th December, 2013 (Monday)
Daily Chart
Saw this pair retest the 78.6 fib level support and saw a good daily candle showing good rejection from that area. Although stochastic are in overbought levels, our view is to go long.
- Pin bar candle on daily
- Good support at the 78.6 fib level (1.37050)
Hourly Chart
"My Friday forecast was nearly to the pip"
My forecast for a long trade on Friday was nearly to the pip, And I have identified a possible bullish crab forming on my Friday analysis which is now completed.
- Stochastics are diverging , and we may retest the support at 1.37100 area
- Until we breach 1.3700 level, this bullish crab is still in play
Outlook Trade opportunity
Because my view is that we have a bullish crab, any retest of Supports or Daily S1 we should go long#1 - Long at Daily S1 pivot - and intraday ride to daily pivot, or further
#2- Long at Daily PIVOT if monday open with a gap higher and finds support there. and TP at R1
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