Recap Consolidation with 50% week range as expected. Failed to consolidate around Y+1 and trapped between Y-0 and Y+1 instead. Closed the week below Y+1 and above midpoint.
Outlook Gold struggling at its resistance zone, so Aussie do not have the necessary fuel to go higher.
Since gold is testing a critical resistance zone at the moment, Aussie may easily overshoot to both the upside and downside on any violent movement from gold. Will stay away from Aussie myself until gold give me a direction to lean on.
Lawrence's Comment
Recap
As oppose to test and fill the gap above, first move of the week broken the Y-1 support. That tells us Y-2 and Y-3 were in play and ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Rallied back to gap resistance above. Without fully filling the gap, news shcok sending Dow lower by 450 points before it could find a bottom. As drastic as ...
AUDUSD Aug 19 to Aug 23 Outlook
Lawrence’s Comment
Consolidation with 50% week range as expected. Failed to consolidate around Y+1 and trapped between Y-0 and Y+1 instead. Closed the week below Y+1 and above midpoint.
Outlook
Gold struggling at its resistance zone, so Aussie do not have the necessary fuel to go higher.
Since gold is testing a critical resistance zone at the moment, Aussie may easily overshoot to both the upside and downside on any violent movement from gold. Will stay away from Aussie myself until gold give me a direction to lean on.
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