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