Recap As expected, Aussie stays weak and failed to clear Y-0. Dropped below Y-1 and stopped at equal distance off previous week close. Closed the week near Y-1 and below midpoint.
Outlook Decisive rejection of Y-0 gave us clean break of Y-1 thus Y-2 is still in play. It is also the original target stated last week. As long as B-0 is acting as resistance it is likely we get Y-2 and B-2 either this week or next.
ContentReviewEuro Down Channel BreakoutS&P Correction Has BegunGold Reached Short Term Upper TargetBig Picture SummaryReviewEuro test of 2019 year low as expected. The surprise is that it staged a very serious ...
Lawrence's Comment
Recap
Euro consolidated around Y-1 and then flushed lower. Y-2 target tagged and bounced back up to week mid and failed to push higher. Closed the week below Y-1 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
Lawrence's Comment
Recap
Bearish scenario unfolded exactly as predicted. Downside target B-2 tagged and closed the week below Y-1.
Outlook
A retest of B-1 is likely. B-0 should act as resistance until B-1 ...
AUDUSD Aug 11 to Aug 15 Outlook
Lawrence’s Comment
As expected, Aussie stays weak and failed to clear Y-0. Dropped below Y-1 and stopped at equal distance off previous week close. Closed the week near Y-1 and below midpoint.
Outlook
Decisive rejection of Y-0 gave us clean break of Y-1 thus Y-2 is still in play. It is also the original target stated last week. As long as B-0 is acting as resistance it is likely we get Y-2 and B-2 either this week or next.
Share