EURUSD Daily Outlook for 19th December, 2013 (Thursday)

EURUSD Daily Outlook for 19th December, 2013 (Thursday)

Daily Chart

"We finally have a lower low"

I was more bias towards finding fresh new highs, however it has retest the highs, and made lower low  for the week.  Having had a lower low, and a bearish bat in play from the H4, there is enough momentum to go lower and test fib and support areas.

• Formed a lower low
• Retested the highs for the month
• closed and broke through support at 78.6

Hourly Chart

Outlook Trade opportunity

Hope market gives us a second chance and short at 1.37050 (38.2% retrace ) - note i target the 38.2 retrace because of the huge down momentum , if we go retrace more than that it will be a worry to show there is buying pressure and will reevaluate this trade

#1 - short at 38.2% retrace 1.37050 approx - and tp at yesterdays low or partial

Risk Level Low

Tips -

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