Recap Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 hours leading to a move from Y-1 to Y+1 quickly. Y+1 cleared and my Y+2 target was tagged later. Closed the week above Y+1 and midpoint.
Outlook Outside up close is bullish. Y+1 / B-0 support for at least a retest of B+1. Consolidation is expected near previous week close at 50% week range.
Lawrence's Comment
Recap
NQ zoomed higher to Y-0 and held there for the FOMC announcement. That alone opened the door to Y+1. Post announcement, NQ immediately tagged the target and by op-ex ...
Recap of last week The yellow zone mentioned the week before acted as resistance as expected. It did not produce any useful sell signal however and the leg up ...
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AUDUSD Apr 20 to Apr 24 Outlook
Lawrence’s Comment
Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 hours leading to a move from Y-1 to Y+1 quickly. Y+1 cleared and my Y+2 target was tagged later. Closed the week above Y+1 and midpoint.
Outlook
Outside up close is bullish. Y+1 / B-0 support for at least a retest of B+1. Consolidation is expected near previous week close at 50% week range.
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