AUDUSD Daily Outlook for 13th December, 2013 (Friday)

AUDUSD Daily Outlook for 13th December, 2013 (Friday)

Daily Chart

We saw today that it has a clear break down, but yet to reach major support . Until then, any retrace up we will be bias to short the aussie.

• nothing much to point out, Chart says it all, we need to hold support at this major area, otherwise we head south

Hourly Chart

Very successful Bearish Butterfly, We believe prices should go a tad lower and  prices to hit the 161.8 extension / 0.8900 handle and test these levels.  

• If we reach 0.8900 handle, we shall go long there for a rebound scalp. If that happens, stoch should diverge
• On the upside, we shall test the 0.90 handle and we shall be cautious shorting there if it goes there prior to Christmas.

Outlook Trade opportunity

For today, if we manage to test the .890 handle, we will play longs
#1 Long at .890-0.89060 - for TP1 20pips, TP2 40pips move stops BE

Risk Level - Medium - high ( we are bottom picking but picking at a major resis just for a scalp)

Tips -

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

USDJPY Daily Outlook for 13th December 2013 (Friday)

USDJPY Daily Outlook for 13th December 2013 (Friday)

Daily Chart

At the time of posting, the U/J has reached new highs for the month and reached the yearly high as well, Any clear break of that high will bring out 105 handle.

• Bearish butterfly is possible up until the 105.5-106 handle

Hourly Chart

At the time of posting, U/J is trying to break yearly highs.  As i don't like to trade break outs, we are going to observe and let the dust settle and then trade accordingly. My Bias is to break the yearly highs and on towards the 105-106.

• Currently extremely overbought on all indicators

Outlook Trade opportunity

My comments from yesterday analysis was we are still in a bull run as we have not performed lower lows , For those who went long from my recommendation should have been quite profitable

For today No trade - Let the dust settle while we

Risk Level _No trade

Tips -

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

AUDJPY Daily Outlook for 13th December, 2013 (Friday)

AUDJPY Daily Outlook for 13th December, 2013 (Friday)

Daily Chart

"Small body tails on both ends"

• Stochastic is is not showing any signs of oversold or overbought, and going up in a uptrend
• Daily chart travelling in a channel 
• Candle shows "i don't know"

Hourly Chart

"My entry for long recommendation was to the PIP!"

• Huge Bear candle yesterday hitting a full retrace 100% from the low to high from 5th of dec., (We might be trading in a range)
• My medium term view is to go up to 93.50 area (very speculative) 

Outlook Trade opportunity

My long idea for yesterday from the 91.90 was very accurate. My medium view is to 93.50 . I have took profit 80% of my position and leaving 20% to run

For those who have missed out or already took profit, we can do the same IF the market retest the area.

#1 - Long from 91.90 ride it up to Daily Pivot and TP or Partial and let it run

Risk Level High - Bottom picking here!

Tips -

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

EURUSD Daily Outlook for 13th December, 2013 (Friday)

EURUSD Daily Outlook for 13th December, 2013 (Friday)

Daily Chart

"Ending the day lower but still in range of last two days"

• Ending the day lower with a bigger rejection from the .38 handle.
• Stochs is extremely overbought
• RSI divergence (from oct high to our recent similar high)

Hourly Chart

"Our Bearish Bat identified yesterday on our 4H chart is seeing some results"

We tried to penetrate the 1.38 handle again, and failed to stay above, forming a double top in two days, together with a Bearish Bat identified and the drop yesterday was good confirmation factors. However, we are not confirmed that the bat is in play yet until we break the 1.370. If we manage to get down there, there is a possible pattern (Bullish Crab Pattern) , which we are forming the C-D leg now

• Possible still for both ways (long / short)
• Larger time frame (4h) we might be in the bearish bat, however a possibility of a bearish butterfly is still possible (where we go higher from 1.38)
• Therefore, if a possibility of a butterfly to form, there is a upcoming Bullish crab forming in the H1 charts to try to penetrate the 1.38 level with a clearer break.

Outlook Trade opportunity

Our short term price targets is around the 1.370 -71 handle, so we will go short from 1.37675 pull back, and try to ride it down to the 1.370-71

#1 - Short from 1.37675 - TP1 at yesterdays low, then TP2 at projected forecast with stops BE

#2 - Long from 1.370-71 - TP1 20pips, then TP2, 35pips, TP3 - possible ride to .38 +

Risk Level MEDIUM

Tips -

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