Retail Forex Trader Analysis and Trade Setups by Howard Tsang

EURUSD Daily Outlook for 11th December, 2013

Pin bar liked candle produced rejecting the R1 Weekly however did not touch the 1.380

Possible downside, however wary as i would like to see it test the 1.38 area
Market sentiment of retail traders are all time high for shorts, which makes it a high possibility it could go higher

A the time of price action continued lower after rejecting daily pivot.
Chart wise, i believe we are in the middle of no where.

We are in the middle of no where, its too close to major resis (1.38 handle),

All time high for retail traders for shorts, and makes it a good chance where we could perform higher highs to take retail traders out.
December historically ends positive month
So i will not trade until clearer direction

for risk takers - you could follow retail traders and short it at this level, risk :reward is good!

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

"Another confirmation candle showing good rejection of the 93 price and down trendline."

Produced pin bar candle however, basically a range trading day doing the ranges from the previous day.
Uptrend is limited for now as we are hitting the 61.8 retrace
tricky one for me to trade at the moment, however, because of the 61.8% level, and most yen crosses are falling, i would risk a short trade

"In an area of mess"

This one is hard to trade , and i am more bias to the downside because the yen crosses are falling, and rejection from the 61.8 retrace.

Intraday trade to short from 94.120 to aim for approx 13-15pips (1:1 RR)

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