Recap A forced rally early in the week due to the bull trap from gold tagged Y+2 but it did not last. The dirty bottom at Y-1 was retested as expected and blasted through. Aussie flushed down to Y-3. Closed the week near Y-3 and week low.
Outlook Just like gold itself, Aussie just cannot build a bottom in the middle of nowehre. More downside is expected.
Until Aussie can stage a bottom setup at B-1, not looking for long.
Lawrence's Comment
Recap
Gap higher tested the resistance zone as expected. Sold off from there giving us Y-0 and below. That opened the door to Y-1 as Y+1 became solid resistance. Sold ...
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
Opened holding above the resistance mentioned last week. Cable has no choice but squeezed back up to Y+1. Rejected by Y+1, sending it back down to Y-0 again. Closed ...
AUDUSD Nov 25 to Nov 29 Outlook
Lawrence’s Comment
A forced rally early in the week due to the bull trap from gold tagged Y+2 but it did not last. The dirty bottom at Y-1 was retested as expected and blasted through. Aussie flushed down to Y-3. Closed the week near Y-3 and week low.
Outlook
Just like gold itself, Aussie just cannot build a bottom in the middle of nowehre. More downside is expected.
Until Aussie can stage a bottom setup at B-1, not looking for long.
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