Recap Y-0 did not hold the price up yet the flush could not breach Y-1 either. The reversal from below Y-0 gave up before Y+1 was tagged and stalled back down to Y-0. Closed the week above Y-0 and midpoint.
Outlook Very odd price actions. 3rd week in a row with slowly rising midpoint. Inside week too. A break of B-1 will induce a very strong selloff to B-3.
However, since the uptrend over the past few weeks is not broken, the more likely scenario is a push towards Y+1 first.
Lawrence's Comment
Recap
Cable trapped within previous week range all week. Not even FOMC announcement can push it out of the range. Closed the week above Y-0 and midpoint.
Outlook
Hourly inverse ...
Lawrence's Comment
Recap
Continuous sell pattern broken when Dow gapped at Y+1 and zoomed higher. Unlikely breakout gave us Y+3 target. Dow got the target and went sideway since. Closed the week ...
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Lawrence's Comment
Recap
Feb close established above Y-0. Sold off after failing to hold above Feb close and tagged B-0 quickly. Y-0 acted as resistance pointing to a test of ...
AUDUSD Oct 29 to Nov 02 Outlook
Lawrence’s Comment
Y-0 did not hold the price up yet the flush could not breach Y-1 either. The reversal from below Y-0 gave up before Y+1 was tagged and stalled back down to Y-0. Closed the week above Y-0 and midpoint.
Outlook
Very odd price actions. 3rd week in a row with slowly rising midpoint. Inside week too. A break of B-1 will induce a very strong selloff to B-3.
However, since the uptrend over the past few weeks is not broken, the more likely scenario is a push towards Y+1 first.
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