Recap After 3 weeks of consolidation, finally a breakout from tight range. 200% expansion target (Y+3) reached and stalled from there. Closed the week above week midpoint.
Outlook The upmove was a controlled one, thus a retest of Y+1 and B-0 is needed to confirm the strength of this rally. If that zone acts as support, a retest of B+1 is very likely.
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
As expected the flush from the week prior to last did not produce more down side extension. Consolidated around Y-1 and Y-0. Closed the week above midpoint ...
Lawrence's Comment
Recap
Tagged my downside target of Y-3 in one quick flush. Then bounced back up at once. By end of the week sellers gave up and Ninja moved back up ...
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 07 to Feb 11 Outlook
Lawrence’s Comments
After 3 weeks of consolidation, finally a breakout from tight range. 200% expansion target (Y+3) reached and stalled from there. Closed the week above week midpoint.
Outlook
The upmove was a controlled one, thus a retest of Y+1 and B-0 is needed to confirm the strength of this rally. If that zone acts as support, a retest of B+1 is very likely.
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