Recap Y-0 did not hold the price up yet the flush could not breach Y-1 either. The reversal from below Y-0 gave up before Y+1 was tagged and stalled back down to Y-0. Closed the week above Y-0 and midpoint.
Outlook Very odd price actions. 3rd week in a row with slowly rising midpoint. Inside week too. A break of B-1 will induce a very strong selloff to B-3.
However, since the uptrend over the past few weeks is not broken, the more likely scenario is a push towards Y+1 first.
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Lawrence's Comment
Recap
Situation in Crimea produced the spike reversal I was looking for. It happened overnight from Sunday which is not showing on this chart. Short squeeze produced a measured move ...
Lawrence's Comment
Recap
As mentioned last week, loonie depends on gold to hold it up. The moment gold breached its support, loonie collapsed spiking the pair up to Y+2. Closed the week ...
Lawrence's Comment
Recap
Bearish expectation worked out well. Y-3 downside target tagged easily. Open gap filled below. Rumors spreaded right after to force the market higher. Open gap above got taken care ...
AUDUSD Oct 29 to Nov 02 Outlook
Lawrence’s Comment
Y-0 did not hold the price up yet the flush could not breach Y-1 either. The reversal from below Y-0 gave up before Y+1 was tagged and stalled back down to Y-0. Closed the week above Y-0 and midpoint.
Outlook
Very odd price actions. 3rd week in a row with slowly rising midpoint. Inside week too. A break of B-1 will induce a very strong selloff to B-3.
However, since the uptrend over the past few weeks is not broken, the more likely scenario is a push towards Y+1 first.
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