EURUSD Daily Outlook for 17th December 2013 (Tuesday)

EURUSD Daily Outlook for 17th December 2013 (Tuesday)

*sorry as there was a delay on my analysis, otherwise we might be filled for a long early Asian session*

Daily Chart

On a daily we closed slightly higher from Friday and also tried to reach last weeks high but falied to do so. The 78.6 retrace / 1.3700-6820 area is a major support for any long, and any break of that will have a good profit zone to the next support.

• Major support is at 1.6820-1.3700
• Still in an up trend.
• Potentially we are / or completed the third wave, and waiting for the fifth wave up.

Hourly Chart

Our forecast of a possible bullish crab on Friday, works out quite well yesterday.  Major support is at the lows of Friday, and for intraday today, Support is at 1.3750 area

• Although divergence is spotted in hourly, I am still looking for higher highs or at least market to test last weeks high

Outlook Trade opportunity

For intraday, any dips for us to go long at the 1.3750 area we shall take a small position. If prices fail at that support, the major support of 1.3710 is where we will take another long.
#1 - Long at 1.3750 and tp at fib levels and pivot

Risk Level Medium

Tips -

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