Recap Breakout happened although it is not towards the downside. Same drill with Y+3 normal breakout target tagged and consolidated around that since. Closed the week below Y+3 and above midpoint.
Outlook Gold spiked higher and Aussie confirmed that. It is producing a very interesting setup.
If gold finds resistance right above and selloff again, Aussie will be forced to drop back down to at least B-1.
If gold can hold the top range from last week while Aussie pullback to B-0, upside breakout of B+1 will give us at least B+3.
Lawrence's Comment
Recap
Breakout upside right from the start of the week met with news shock sending the pair back to Y-0. Y-0 acted as support and closed the week ...
Lawrence's Comment
Recap
Y-0 support and then breakout to the upside. 100% absolute range expansion stopped the rally. Closed the week above Y+1 and midpoint.
Outlook
Y+1 / B-0 support for the ...
AUDUSD Feb 10 to Feb 14 Outlook
Lawrence’s Comment
Breakout happened although it is not towards the downside. Same drill with Y+3 normal breakout target tagged and consolidated around that since. Closed the week below Y+3 and above midpoint.
Outlook
Gold spiked higher and Aussie confirmed that. It is producing a very interesting setup.
If gold finds resistance right above and selloff again, Aussie will be forced to drop back down to at least B-1.
If gold can hold the top range from last week while Aussie pullback to B-0, upside breakout of B+1 will give us at least B+3.
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