Recap Rallied to the upside target of Y+2. Found resistance and sold off back down to Y-0 support. Y-0 could not hold it up, resulted in directional slide down to Y-2. Closed the week below Y-2 and near week low.
Outlook Gold found resistance above so Aussie has no choice but to drop with gold. As long as Y-2 / B-0 can cap any bounce, Aussie short term up trend is now over.
Lawrence's Comment
Recap
Mentioned last week, a potential turning point is in place and we got that. Talking about precision in timing! As it is a weekly level turning point, monthly ...
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
Pullback to Y-0 support and took off. Upside target Y+2 not tagged yet. Closed the week above Y+1 and near week high.
Outlook
Y+2 still in play. FBO against ...
AUDUSD Jan 20 to Jan 24 Outlook
Lawrence’s Comment
Rallied to the upside target of Y+2. Found resistance and sold off back down to Y-0 support. Y-0 could not hold it up, resulted in directional slide down to Y-2. Closed the week below Y-2 and near week low.
Outlook
Gold found resistance above so Aussie has no choice but to drop with gold. As long as Y-2 / B-0 can cap any bounce, Aussie short term up trend is now over.
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