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

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

Daily Chart

• Price has closed at the 0.8855 which hs broken support - only slightly
• Because the aussie did not break the support with conviction, We would expect the market to retrace and retest the resistance before heading more south

Hourly Chart

• On the daily, the aussie closed at major support, but not managed to break it, 
• Stochastic is oversold with a small divergence 
• We broke through weekly pivot S1

Outlook Trade opportunity

We have a Weekly S1 (which is broken) and yesterdays low which is a major support area, - Because of this we are in a very tight range , i will not be trading this pair for now until market tells us what to do.

Risk Level- no trade

Tips -

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

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

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

Daily Chart

Wow, what a day we had!, Finally a clear break up and now trading in the 104's. 

Any retest of the previous resistance which now become support would be a good opportunity to ride it up a little further before a big downturn is expected.

• Currently RSI and stochastics are just under overbought condition. 
• Next resistance comes at 105.50 which is a long time 61.8% retrace level, 
• We have to take note a potential bearish butterfly is possible from the ranges up to around 105.50

Hourly Chart

• Huge break up to the 104 in the last trading hours of the day
• Stochastic and RSI are overbought
• In a channel
• Prices paused and retraced at the 127.20 fib extension
• Support is 103.90, any long opportunity could be entered around this area

Outlook Trade opportunity

If prices goes and retest the 103.90-104 - we will initiate longs
#Trade 1 - Buy at 103.90-104.0 - TP minimum 1:1 reward ratio

Risk Level - Medium

Tips -

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