Recap Y-0 did not hold Aussie down. Gold surged in beginning of the week. Good enough excuses to pop Aussie to Y+2. After tagging Y+2 normal upside target, however, the pair showed no strength at Y+1 and eventually drifted back down to Y-0. Closed the week below midpoint and right above Y-0.
Outlook Holding Y-0 / B-0 zone means a retest of B+1 is in play.
Once B-1 is tagged, looking for B-0 to act as resistance with odds in favour of a flush to B-2 quickly.
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
I often mention that when a major pair crosses its previous week midpoint, certain bias is triggered. Somehow many readers find it difficult to follow the concept. This is a ...
Lawrence's Comment
Recap
Struggled at Y-1 and eventually break below but failed to tag Y-2. That set the stage to rally back to Y-0. Closed the week near Y-0 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 Nov 12 to Nov 16 Outlook
Lawrence’s Comment
Y-0 did not hold Aussie down. Gold surged in beginning of the week. Good enough excuses to pop Aussie to Y+2. After tagging Y+2 normal upside target, however, the pair showed no strength at Y+1 and eventually drifted back down to Y-0. Closed the week below midpoint and right above Y-0.
Outlook
Holding Y-0 / B-0 zone means a retest of B+1 is in play.
Once B-1 is tagged, looking for B-0 to act as resistance with odds in favour of a flush to B-2 quickly.
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