Trading Edges That Last
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Lawrence's Comment Recap Previous week close acted as resistance early in the week. That is the strongest sign that a test of previous week low (Y-1) was in play. Once traded ...READ MOREFor 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 scheduleREAD MORELawrence's Comment Recap Option expiration week locked Dow around Y+1 even though the mid week pop tried hard to force Dow to go much higher. Closed the week above midpoint and Y+1. Outlook Seasonal ...READ MOREPrecog Vision – Forex 2013-12-24Precog Vision – Forex 2014-1-28Precog Vision – Forex 2013-4-183DP Odds Table (AUDUSD) 2013-10-04USDCAD Apr 04 to Apr 08 OutlookPrecog Vision – Forex 2017-9-15Intraday Cycle Projection (AUDUSD) 2011-12-23Hot n Cold (AUDUSD) 2011-7-133DP Odds Table (AUDUSD) 2018-01-11Dow 30 Jul 22 to Jul 26 Outlook
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AUDUSD Jun 09 to Jun 13 Outlook
Lawrence’s Comment
Aussie failed to hold the Y-0 double bottom neckline and flushed down to where it started the up run. The low volume up drift back up to previous week close allowed Aussie to squeeze the shorts to its up side target of 100% absolute range expansion which also coincide with a measured move on 4 hours. Closed the week near Y+1 and above midpoint.
Outlook
Not the strong reversal the goldbugs like to see as Aussie is often a good indicator of the direction of gold.
A potential bear flag on 4 hours is in the making.
Now that Y-0 is support, if Y+1 fails to hold this up for a strong squeeze higher, Y-0 will be tested.
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