AUDUSD Daily Outlook for 13th December, 2013 (Friday)

AUDUSD Daily Outlook for 13th December, 2013 (Friday)

Daily Chart

We saw today that it has a clear break down, but yet to reach major support . Until then, any retrace up we will be bias to short the aussie.

• nothing much to point out, Chart says it all, we need to hold support at this major area, otherwise we head south

Hourly Chart

Very successful Bearish Butterfly, We believe prices should go a tad lower and  prices to hit the 161.8 extension / 0.8900 handle and test these levels.  

• If we reach 0.8900 handle, we shall go long there for a rebound scalp. If that happens, stoch should diverge
• On the upside, we shall test the 0.90 handle and we shall be cautious shorting there if it goes there prior to Christmas.

Outlook Trade opportunity

For today, if we manage to test the .890 handle, we will play longs
#1 Long at .890-0.89060 - for TP1 20pips, TP2 40pips move stops BE

Risk Level - Medium - high ( we are bottom picking but picking at a major resis just for a scalp)

Tips -

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

USDJPY Daily Outlook for 13th December 2013 (Friday)

USDJPY Daily Outlook for 13th December 2013 (Friday)

Daily Chart

At the time of posting, the U/J has reached new highs for the month and reached the yearly high as well, Any clear break of that high will bring out 105 handle.

• Bearish butterfly is possible up until the 105.5-106 handle

Hourly Chart

At the time of posting, U/J is trying to break yearly highs.  As i don't like to trade break outs, we are going to observe and let the dust settle and then trade accordingly. My Bias is to break the yearly highs and on towards the 105-106.

• Currently extremely overbought on all indicators

Outlook Trade opportunity

My comments from yesterday analysis was we are still in a bull run as we have not performed lower lows , For those who went long from my recommendation should have been quite profitable

For today No trade - Let the dust settle while we

Risk Level _No trade

Tips -

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