Recap FBO scenario played out. Easy drop to target by the end of the week. Closed the week below Y-1 and near week low.
Outlook Daily up trend ended with FBO on weekly high is very bearish. This also signal a problem with gold. Consolidation after a move like this is likely with more downside expected.
Lawrence's Comment
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 ...
After having too much fun at dinner parties and alcohol consumption, I am joining the crowded game of making predictions of the financial markets for the coming year 2016. Last ...
AUDUSD May 25 to May 29 Outlook
Lawrence’s Comment
FBO scenario played out. Easy drop to target by the end of the week. Closed the week below Y-1 and near week low.
Outlook
Daily up trend ended with FBO on weekly high is very bearish. This also signal a problem with gold. Consolidation after a move like this is likely with more downside expected.
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