AUDJPY Daily Outlook for 19th December, 2013 (Thursday)

AUDJPY Daily Outlook for 19th December, 2013 (Thursday)

Daily Chart

• We had a a daily close above previous high, and around a supply and demand area, which will be tricky to know market direction
• If i were to use stochastics to backup my case for direction, it is oversold so i would be bias to the upside short term
• On top of that, it rejected the channel line which gives it another case

Hourly Chart

• We saw the market break out of the 91level and closed the day in the 92's, however during the early asian session while i am writing it is retesting the high 91's.
• If i look at stochastics indicator it is oversold, and if i look at RSI the current level is neutral or 
• At the current price on the chart, it is a good opportunity to go long as it is around the 61.8% retrace from the upward move from Tuesday to last night.
• I expect this pair to go higher short term to test the higher chanel line

Outlook Trade opportunity

Will take long at curreng price around 91.75 - Will TP at 38.2

% retrace

Risk Level Low

Tips -

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

EURUSD Daily Outlook for 19th December, 2013 (Thursday)

EURUSD Daily Outlook for 19th December, 2013 (Thursday)

Daily Chart

"We finally have a lower low"

I was more bias towards finding fresh new highs, however it has retest the highs, and made lower low  for the week.  Having had a lower low, and a bearish bat in play from the H4, there is enough momentum to go lower and test fib and support areas.

• Formed a lower low
• Retested the highs for the month
• closed and broke through support at 78.6

Hourly Chart

Outlook Trade opportunity

Hope market gives us a second chance and short at 1.37050 (38.2% retrace ) - note i target the 38.2 retrace because of the huge down momentum , if we go retrace more than that it will be a worry to show there is buying pressure and will reevaluate this trade

#1 - short at 38.2% retrace 1.37050 approx - and tp at yesterdays low or partial

Risk Level Low

Tips -

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