Recap Looking for weaknesses last week and we got that right off the start. Interesting that Y-1 was defended and bounced back up to close near Y-0 and midpoint.
Outlook 2 weeks in a row closing around the same midpoint is a sign of indecision. The effect is magnified as it was also an outside week that closed back into the midpoint.
Not a good week to trade Aussie until we get a breakout of this zone.
Lawrence's Comment
Recap
Mentioned last week ES would be influenced by NQ and it happened. ES was weak and failed to hold Y-0 yet strength in NQ carried ES higher and forced ...
Lawrence's Comment
Recap
Weaken early in the week but Y-1 was never tested. Consolidated below Y-0 during the quiet holidays. Then a low volume short squeeze / stop run took Loonie conveniently ...
AUDUSD Feb 27 to Mar 02 Outlook
Lawrence’s Comment
Looking for weaknesses last week and we got that right off the start. Interesting that Y-1 was defended and bounced back up to close near Y-0 and midpoint.
Outlook
2 weeks in a row closing around the same midpoint is a sign of indecision. The effect is magnified as it was also an outside week that closed back into the midpoint.
Not a good week to trade Aussie until we get a breakout of this zone.
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