Recap Early in the week trying to rally from Y-0 to Y+1 failed. Flushed down to Y-1 instead. FBO against Y-1 gave us the 2nd scenario from last week and rallied back above Y-0 since. Closed the week above Y-0 and midpoint.
Outlook The reversal setup is intact. Looking for B+3 on swing basis in a week or 2. For this swing low play to work out, will need Aussie to hold Y-1.
Lawrence's Comment
Recap
NQ resistance at Y-1 sent it down to right above Y-3 when 100% absolute range expansion was reached. NQ then staged a bottom right on time for a run ...
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AUDUSD Feb 25 to Mar 01 Outlook
Lawrence’s Comment
Early in the week trying to rally from Y-0 to Y+1 failed. Flushed down to Y-1 instead. FBO against Y-1 gave us the 2nd scenario from last week and rallied back above Y-0 since. Closed the week above Y-0 and midpoint.
Outlook
The reversal setup is intact. Looking for B+3 on swing basis in a week or 2. For this swing low play to work out, will need Aussie to hold Y-1.
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