Recap Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 hours leading to a move from Y-1 to Y+1 quickly. Y+1 cleared and my Y+2 target was tagged later. Closed the week above Y+1 and midpoint.
Outlook Outside up close is bullish. Y+1 / B-0 support for at least a retest of B+1. Consolidation is expected near previous week close at 50% week range.
Lawrence's Comment
Recap
Similar to Cable, failing to clear previous week close led to a flush down to almost Y-3. Intervention happened and ninja went straight back up to Y-0. Closed the ...
Lawrence's Comment
Recap
As expected intervention triggered. But at least half of that disappeated by Friday close.
Outlook
This week due to the S&P downgrade, potential Fed and G8 inventions will throw all ...
Lawrence's Comment
Recap
Y-0 resistance gave us a test of Y-1. FBO against Y-1 gave us reversal back up to Y+1. No surprises whatsoever. Closed the week near Y+1 and week high.
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AUDUSD Apr 20 to Apr 24 Outlook
Lawrence’s Comment
Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 hours leading to a move from Y-1 to Y+1 quickly. Y+1 cleared and my Y+2 target was tagged later. Closed the week above Y+1 and midpoint.
Outlook
Outside up close is bullish. Y+1 / B-0 support for at least a retest of B+1. Consolidation is expected near previous week close at 50% week range.
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