Recap Reacted at breakout upper boundary, sent Aussie back to Y-0. Y-0 acted as support, moved back up to Y+1. Closed the week below Y+1 and above midpoint.
Outlook As long as Y+1 acting as resistance, a move back down to Y-1 is likely since Y+1 and above at upper boundary was rejected decisively.
Rising wedge visible on 4 hour and daily in place. If FBO at B+1 happens, a selloff down to B-2 is very likely.
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
Lawrence's Comment
Recap
Bearish bias carried NQ lower until 100% absolute range expansion was reached off the first reaction to FOMC news shock. Then all indices took off. By Friday, we got ...
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
Lawrence's Comment
Recap
Y-0 acted as support as expected and Y+2 upside target tagged early in the week. Then Y+1 acting as support gave us a go for Y+3. Closed the week ...
AUDUSD Mar 24 to Mar 28 Outlook
Lawrence’s Comment
Reacted at breakout upper boundary, sent Aussie back to Y-0. Y-0 acted as support, moved back up to Y+1. Closed the week below Y+1 and above midpoint.
Outlook
As long as Y+1 acting as resistance, a move back down to Y-1 is likely since Y+1 and above at upper boundary was rejected decisively.
Rising wedge visible on 4 hour and daily in place. If FBO at B+1 happens, a selloff down to B-2 is very likely.
Share