Recap Aussie broke out to the upside tagging Y+2 but failed to hold above Y+1. That opened the door to Y-1 due to the violent FBO. Y-1 tagged next. Closed the week near Y-1 and below midpoint.
Outlook Wide range outside week reversal in place. It is a surprise partly due to the strength in gold lately. At this point, Aussie is foretelling gold may not be able to hold onto its gains.
As long as Y-0 / B-0 acting as resistance, a push towards B-2 is likely.
Lawrence's Comment
Recap
Tight range breakout to the downside. 200% range expansion target Y-5 tagged and bounced. Wild swing since although trapped within the range. Closed the week below Y-3 and near ...
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
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
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
AUDUSD Jul 07 to Jul 11 Outlook
Lawrence’s Comment
Aussie broke out to the upside tagging Y+2 but failed to hold above Y+1. That opened the door to Y-1 due to the violent FBO. Y-1 tagged next. Closed the week near Y-1 and below midpoint.
Outlook
Wide range outside week reversal in place. It is a surprise partly due to the strength in gold lately. At this point, Aussie is foretelling gold may not be able to hold onto its gains.
As long as Y-0 / B-0 acting as resistance, a push towards B-2 is likely.
Share