Monday, January 6, 2014

EURUSD Daily Outlook for 6th January, 2013 (MONDAY)

EURUSD Daily Outlook for 6th January, 2013 (MONDAY)

Daily Chart

  • Bearish momentum is very strong from Friday, as we broke major support
  • We expect the market to stall at the 1.349-1.35 level which is a strong support.  
  • Until then, any intraday trades should be taken short

Hourly Chart

4 hour chart shows a more clearer picture
  • Strong bearish momentum , as market tries to test the 1.349-1.35 - psychological and confluence of fib levels
  • I have a short trade targeting the closest area i have drawn on the chart, and tp2 the second.

Outlook Trade opportunity

Currently I have a short order targeting the First level. Any retest of support , should be a good opportunity to take a short order (See Red Arrows on H4 chart)

- Please see Red and Blue Arrows for trade opportunity on the H4 CHart

Risk Level LOW

Tips -

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