Recap Y+1 rejected which gave us Y-0 and below. Gold not going up quickly contributed to the move. Closed the week below Y-0 and midpoint.
Outlook A pullback from multiple weeks up leg is normal. The slow drift downward is sign of strength. A break of previous week resistance line will give us a go for Y+1 / B+1.
The wildcard is that if gold collapses from the current level, we can lean on a break of Y-1 down to B-3.
Lawrence's Comment
Recap
Completely failed to see what was coming last week. NFP bias worked out well last week even though signs of over extension was in place. Dow held Y-0 and ...
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
AUDUSD Feb 24 to Feb 28 Outlook
Lawrence’s Comment
Y+1 rejected which gave us Y-0 and below. Gold not going up quickly contributed to the move. Closed the week below Y-0 and midpoint.
Outlook
A pullback from multiple weeks up leg is normal. The slow drift downward is sign of strength. A break of previous week resistance line will give us a go for Y+1 / B+1.
The wildcard is that if gold collapses from the current level, we can lean on a break of Y-1 down to B-3.
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