AUDUSD Daily Outlook for 12th December 2013 (Thursday)

AUDUSD Daily Outlook for 12th December 2013 (Thursday)

Daily Chart

30min Chart

• Yesterday my trade outlook didn't work as i was thinking it will continue to trend up 
• The reason I was wrong was I failed to identify a Bearish Pattern setup due to the False pin from NFP last Friday.
• The pattern worked very well (easier to analyse the past , but cannot ignore the fact that these pattern works well)
• We are trading below the main support of 0.9060, again (third time this month), therefore I believe prices are headed south towards perhaps to 0.86645 which is the FE127.20 in the coming month or two.

Outlook Trade opportunity

Shorts only, and only if prices go up to retest which now is resistance @ between 0.90550 - 0.9060
#1 - Sell order @ 0.90550-0.9060 stops 20pips away, and Tp at least 20pips to make it just a 1:1 return.

Risk Level - LOW

Tips -

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

USDJPY Daily Outlook for 12th December 2013 (Thursday)

USDJPY Daily Outlook for 12th December 2013 (Thursday)

Daily Chart

Current view - Still in a bull until a lower low is shown on a daily

• The longer trend is up, and past week we had some retraces, and the current retrace has not produce a lower low yet, so the uptrend is still possible.
• Note divergence and double topped has formed.

Hourly Chart

• I have drawn a trendline in the Hourly chart, where yesterday it had some rejection of the 61.8 retrace area.

Outlook Trade opportunity

For today hopefully could perform in Asian session . We will trade of the 61.8% retrace as shown in the Hourly Chart so :
#1 - Buy at 102.31, TP 20pips, Stops 15pips

**Updated** 08:34GMT0
*Bearish Butterfly found on 15min chart)
I have placed sell orders at around 102.876 - looking for TP1 10pips, TP2 - 20pips

Risk Level Medium

Tips -

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