Recap Aussie dropped to target as expected. Very orderly, no complex move to deal with. Closed the week below Y-2 and at week low.
Outlook Aussie is developing a falling wedge / thin channel that cannot last. A flush type move without tagging B-2 follows by a quick snap back above B-1 will produce a short term bottom with upside target of B+1.
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
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
Cable held previous week close and started a squeeze back up to Y+1. Y+1 resistance dropped cable back down. Closed the week below Y-0 and midpoint.
Outlook
Ledge like ...
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 Dec 08 to Dec 12 Outlook
Lawrence’s Comment
Aussie dropped to target as expected. Very orderly, no complex move to deal with. Closed the week below Y-2 and at week low.
Outlook
Aussie is developing a falling wedge / thin channel that cannot last. A flush type move without tagging B-2 follows by a quick snap back above B-1 will produce a short term bottom with upside target of B+1.
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