AUDUSD Daily , Weekly Outlook for 30th December, 2013 (MONDAY)
- Trend is Bearish
- Stochastics is oversold but flat
- RSI pointing slightly down and above 30
- At a important level of support
Looking at the weekly, it seems oversold, however further downside is more appealing.
- Trend is down
- Stochastic is pointing down
- RSI is around 30
Base on the Daily chart, I cannot trade it at these levels, Indicators are pointing lower , as the upside is limited as we previously tested last week. We will wait for the market to tell us what to do.
- Trend is Down
- Stochastic pointing up
- BAT pattern , however upside limited
By the time i wrote this, I am too late to join the bat pattern play. On the upside resistance come at the 0.88720 and 0.8890, If market reaches there, we could have a short position.
Outlook Trade opportunityRisky trade to hold longer times , so better trade scalps
#1 - Short from 0.8872
#2 - Short from 0.8890