Recap Momentum carried Aussie lower to Y-2 as expected. No spike low, just drift back up from Y-2 to week mid. Closed the week below Y-1 and near midpoint.
Outlook Consolidation after tagging Y-2 is bearish. A test of B-1 is in play. If B-1 can hold this up, a bounce back up to B+2 is possible.
B-1 failing to act as support will give way to B-2 and below.
Lawrence's Comment
Recap
Gold did not give Aussie a chance at all. As gold weaken again, Aussie failed to hold Y-1 and gave us the continuation target of Y-2. Flushed thru Y-2 ...
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
Y-0 resistance gave us a pullback to Y-1. Dow found support there and zoomed to Y+1, yet failed to stay above. Dow failed on retest of week high 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
AUDUSD Jul 13 to Jul 17 Outlook
Lawrence’s Comment
Momentum carried Aussie lower to Y-2 as expected. No spike low, just drift back up from Y-2 to week mid. Closed the week below Y-1 and near midpoint.
Outlook
Consolidation after tagging Y-2 is bearish. A test of B-1 is in play. If B-1 can hold this up, a bounce back up to B+2 is possible.
B-1 failing to act as support will give way to B-2 and below.
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