Recap Failure to tag Y+1 early in the week sent the pair back down to Y-1. As Y-1 did not contain the drop, further weaknesses was expected from Y-0 and in one move completed both the 1st downside target of Y-2 and Y-3. At slightly higher than Y-3, which was the previous support level, the pair bounced back to close at, Y-0.
Outlook Event driven move in the last half day of past week showed that Y-0 is a strong attractor. If B-0 acts as support, B+1 should be visited soon. If the developing situation in Asia stabalize, then next week should be range bounded within B-0 to B+1.
Lawrence's Comment
Recap
Y-0 resistance gave us a pullback to Y-1. Dow found support there and zoomed to Y+1, yet failed to stay above. Dow failed on retest of week high and ...
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
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
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 Mar 14 to Mar 18 Outlook
Lawrence’s Comment
Failure to tag Y+1 early in the week sent the pair back down to Y-1. As Y-1 did not contain the drop, further weaknesses was expected from Y-0 and in one move completed both the 1st downside target of Y-2 and Y-3. At slightly higher than Y-3, which was the previous support level, the pair bounced back to close at, Y-0.
Outlook
Event driven move in the last half day of past week showed that Y-0 is a strong attractor. If B-0 acts as support, B+1 should be visited soon. If the developing situation in Asia stabalize, then next week should be range bounded within B-0 to B+1.
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