AUDJPY Daily Outlook for 23rd December, 2013 (Monday)

AUDJPY Daily Outlook for 23rd December, 2013 (Monday)

Daily Chart

• We are in a descending channel , and have bounced very well from the bottom of the channel
• Short term view is that we will test the upper channel / 78.6 retrace of recent swing from top channel down.

Hourly Chart

• On the hourly chart, we are getting close to Sell zone or 61.8% retrace - this is an opportunity for a short trade
• There is also a higher sell zone at around the 78.6% retrace, which is also the R1 Weekly

Outlook Trade opportunity

There are two areas possible for shorting , for conservative traders please trade the higher one.
#1 - Short at 61.8% retrace approx 93.00 - TP 20pips
#2 - Short at 78.6 / R1 weekly - 93.50 - TP 40pips minimum

Risk Level High

Tips -

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

USDJPY Daily Outlook for 23rd December 2013 (Monday)

USDJPY Daily Outlook for 23rd December 2013 (Monday)

**this is my personal favorite setup for the week**

Daily Chart

• We are trading within the 104's area which is not a strong support
• We expect the market to test the resistance in the near term.

Hourly Chart

• Fell of a rising wedge and was according to my analysis last Friday
• I hope for market to go down to the blue area which is my demand level  (50% fib retrace)which looks attractive as we haven't retested this area as an support after breakout to the 104's 

Outlook Trade opportunity

Two trading opportunity here, my forecast is for price to go down to test the 50% retrace at 103.550 near term. So i will have a buy limit at that area.

If market retraces back up to around 104.32 before hitting my forecast area, i will be shorting from there down to potentially my target area and taking partial profits on the way

#1 - Short at 104.32 (only if prices have not reached my forecast of 103.550) - Target to 103.550 while taking partial profits on the way and Break even for a risk free trade)

#2 - Long at 103.550 for initial 20pips profit take majority of position off, and leave small portion for bigger trend continuation to the upside.

Risk Level Low

Tips -

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

EURUSD Daily Outlook for 23rd December, 2013 (Monday)

EURUSD Daily Outlook for 23rd December, 2013 (Monday)

Daily Chart

Friday's candle shows indecision and bouncing of my previously drawn support and resistance area. 

If I draw a trendline from the lows of the Stochastics Indicator from nov to now, it has broken the trendline and I would be looking out for possible continuation higher after the current retrace.

Hourly Chart

Not much to say as Fridays bounce from a resistance / demand zone which I had previously predicted. On the indicators we are diverging right now. I expect the short term that are bearish until the 1.5950 (my green support area on chart if we can get there)

Outlook Trade opportunity

Our forecast for trades last Thursday and Friday was to the pip, I hope I can continue this trend :) As you can see I have drawn in two sell zones. The first one is possible in the asian session, and the second one might be possible after the Asian session.

I will also have a small buy limit order at the green zone i drawn

Risk Level Low

Tips -

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

AUDUSD Daily Outlook for 23th December, 2013 (Monday)

AUDUSD Daily Outlook for 23th December, 2013 (Monday)

Daily Chart

On Friday, After over 7 days of bearish days we finally have a good bullish candle reaction from a major support zone. Even though price bounced from the support zone formed in august,  it concerns me that price did actually fall below August lows creating a new low for the year. This to me shows strong selling pressure.  Next time when price comes to this area, i would expect this area not to hold and price to go lower

• Formed fresh new yearly lows on Thursday, and rebound on Friday
• Formed new yearly low 
• Slightly broke support from august which to me shows strong selling pressure
• Next time when price comes to this area, i would expect this area not to hold and price to go lower
• Stochastics is turning up
• My sell zone / resistance area is at the 0.90 - 0.9050

Hourly Chart

1 Hr Chart

4 Hr chart

On Friday we had a good positive ending day which brings us back up trading in the 0.89's.  I am expecting bullish momentum to be short lived towards the .90's and resuming the bearish momentum.
Indicators wise, on the hourly chart stochastics are turning, and on the 4hr slight divergence is possible.

• If we look at the 4 Hr chart, you can see we are in a descending Chanel 
• At this stage i would go long on dips at around the pivot daily area (.890) 
• Resistance area is at the .90 where we will go short

Outlook Trade opportunity

For Today i would buy dips at around the daily pivot area, (0.890) Looking for a 1:1 reward.
Its holiday season so not much action is expected.

We will also setup a short limit order at the 0.89594- 0.90 area

Risk Level - Medium

Tips -

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