Recap Aussie tried to find a bottom above Y-2 indeed. The problem is that it takes time to absorb the selling. Closed the week near week low and below Y-1.
Outlook Until B-0 is breached to the upside, prefered with a quick rally tagging B+1 first, Aussie is still trapped in consolidation / bottom forming.
A good long setup from B-0 will send it back up to B+2. Not interesting in the down side as oversold condition is building up.
Lawrence's Comment
Recap
Consolidated above Y-1 first half of the week. Then strong reaction to tag of Y-1 sent euro back up to also Y-0. Then news shock came and trapped the ...
Lawrence's Comment
Recap
Y-0 did not act as resistance after open gave us a clue that it would not hold on 2nd try. Into mid week, Y-0 cleared and gave us Y+1 ...
Lawrence's Comment
Recap
No selloff materialized as the gap and go play took over. Unlike Dow still trading below its all time high, ES has been pushing a new one this week ...
AUDUSD Jul 08 to Jul 12 Outlook
Lawrence’s Comment
Aussie tried to find a bottom above Y-2 indeed. The problem is that it takes time to absorb the selling. Closed the week near week low and below Y-1.
Outlook
Until B-0 is breached to the upside, prefered with a quick rally tagging B+1 first, Aussie is still trapped in consolidation / bottom forming.
A good long setup from B-0 will send it back up to B+2. Not interesting in the down side as oversold condition is building up.
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