Recap FBO against Y+1 and collapsed immediately. Flushed down to below Y-2. Printed almost 200% absolute range expansion before Aussie could bounce. The overshoot both ways scenario unfolded as expected. Closed the week below Y-1 and midpoint.
Outlook Gold made a breakout to upside move by end of last week while Aussie could not even push back up to Y-1. It is bearish for both gold and Aussie. As long as B-0 is acting as resistance, retest of B-1 is likely.
Lawrence's Comment
Recap
4 hour bear flag breakdown gave us a selloff down to Y-1. The gold flush to new low did the rest and kept Aussie staying around Y-2. Closed the ...
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
Lawrence's Comment
Recap
Consolidation above Y-0 as expected. Originally looked like a breakout to the upside was in the making, until news shock hit late in the week. Got the ...
AUDUSD Aug 26 to Aug 30 Outlook
Lawrence’s Comment
FBO against Y+1 and collapsed immediately. Flushed down to below Y-2. Printed almost 200% absolute range expansion before Aussie could bounce. The overshoot both ways scenario unfolded as expected. Closed the week below Y-1 and midpoint.
Outlook
Gold made a breakout to upside move by end of last week while Aussie could not even push back up to Y-1. It is bearish for both gold and Aussie. As long as B-0 is acting as resistance, retest of B-1 is likely.
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