Lawrence's Comment
Recap
Euro cleared the resistance zone mentioned last week, staging Y-0 support for a run to Y+1 and above. And that's exactly what happened right after. 100% absolute range expansion ...
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
NQ lifted higher first right off the open, that limited the expected drop to Y-1 by magnitude as mentioned last week. Anyway multiple attempts to clear Y+2 failed and ...
AUDUSD May 19 to May 23 Outlook
Lawrence’s Comment
Consolidation around previous week close as expected. 50% range. Closed the week above Y-0 and near midpoint.
Outlook
The consolidation exposed the weaknesses in Aussie as the reaction to Y+1 was very strong.
A longer pullback is probably in play if Y+1 / B+1 caps the upside. Downside target around B-2.
Share