EURUSD Daily Outlook for 16th December, 2013 (Monday)

EURUSD Daily Outlook for 16th December, 2013 (Monday)

Daily Chart

Saw this pair retest the 78.6 fib level support and saw a good daily candle showing good rejection from that area.  Although stochastic are in overbought levels, our view is to go long.  

• Pin bar candle on daily 
• Good support at the 78.6 fib level (1.37050)

Hourly Chart

"My Friday forecast was nearly to the pip"

My forecast for a long trade on Friday was nearly to the pip, And I have identified a possible bullish crab forming on my Friday analysis which is now completed. 

• Stochastics are diverging , and we may retest the support at 1.37100 area
• Until we breach 1.3700 level, this bullish crab is still in play

Outlook Trade opportunity

Because my view is that we have a bullish crab, any retest of Supports or Daily S1 we should go long

#1 - Long at Daily S1 pivot - and intraday ride to daily pivot, or further

#2- Long at Daily PIVOT if monday open with a gap higher and finds support there. and TP at R1

Risk Level Low

Tips -

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

AUDUSD Daily Outlook for 16th December, 2013 (Monday)

AUDUSD Daily Outlook for 16th December, 2013 (Monday)

Daily Chart

On Friday we saw the aussie recovered very little from the lows, and the trading range was small. My view for this pair is that it will go lower to the 0.87 in the medium term.

It seems we maybe due for a correction to test the 0.90 and maximum to the 0.92 area then we will start heading south again

Hourly Chart

After a big fall on Thursday, we recovered very little , around 38% , currently at the 38.2 retrace.

We believe the possibility of finding new lows this month is more likely.  Stochastics on the hourly shows its overbought 

• Overbought stochastics
• Trading under .90 again since august 2013

Outlook Trade opportunity

We are looking to enter short during this times as i believe there is momentum to the downside to find at least 88.90 (august lows).
#1 - Short at around 0.89900 - 0.90200 - Have multiple TP levels at fibonacci levels / Daily pivot.

This trade has a risk that we are trading in a reversal zone , because on the daily, there have been three wave down, and looks like we are in a correction / reversal.

Risk Level __HIGH

Tips -

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