Recap Aussie carried higher as gold holding onto its gain last week. Spiked through Y-0 but failed to clear the resistance. Closed the week below Y-0 and midpoint.
Outlook Consolidation after wide range week is normal. If not for the stop run mid week we would have a perfect 50% consolidation week.
Y-0 rejected points to retest of Y-1 in play. Even if long side can stage a comeback it will take a better bottom to happen.
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
2-way play as expected. Y-0 resistance sent price down to near Y-1 and took off from there back up to equal distance from previous week close. Closed the week ...
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 14 to Jul 18 Outlook
Lawrence’s Comment
Aussie carried higher as gold holding onto its gain last week. Spiked through Y-0 but failed to clear the resistance. Closed the week below Y-0 and midpoint.
Outlook
Consolidation after wide range week is normal. If not for the stop run mid week we would have a perfect 50% consolidation week.
Y-0 rejected points to retest of Y-1 in play. Even if long side can stage a comeback it will take a better bottom to happen.
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