Recap Aussie tried to push higher can failed due to the obvious weaknesses mentioned last week. Ended up another consolidation week with tight range. Closed the week above Y-0 and midpoint.
Outlook 2nd inside week. Compression points to significant breakout in play. Notice strong compression leads to potential whiplash action implying both Y+1 and Y-1 will be tagged.
Upside breakout target is B+3. Downside breakout target is B-3.
Recap of last week The yellow zone mentioned the week before acted as resistance as expected. It did not produce any useful sell signal however and the leg up ...
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
Consolidated around Y+1 and then breakout upside failed. That gave us the Y-0 retest. Y-0 tagged eventually. Closed the week above Y-0 and below midpoint.
Outlook
Still bullish on daily but ...
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 Oct 27 to Oct 31 Outlook
Lawrence’s Comment
Aussie tried to push higher can failed due to the obvious weaknesses mentioned last week. Ended up another consolidation week with tight range. Closed the week above Y-0 and midpoint.
Outlook
2nd inside week. Compression points to significant breakout in play. Notice strong compression leads to potential whiplash action implying both Y+1 and Y-1 will be tagged.
Upside breakout target is B+3. Downside breakout target is B-3.
Share