Recap Aussie tried to find a bottom above Y-2 indeed. The problem is that it takes time to absorb the selling. Closed the week near week low and below Y-1.
Outlook Until B-0 is breached to the upside, prefered with a quick rally tagging B+1 first, Aussie is still trapped in consolidation / bottom forming.
A good long setup from B-0 will send it back up to B+2. Not interesting in the down side as oversold condition is building up.
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
Recap of Last Week Stalled from weekly open range established on Monday, failed to hold prior week high on 2nd try, leads to a quick drop towards prior week ...
AUDUSD Jul 08 to Jul 12 Outlook
Lawrence’s Comment
Aussie tried to find a bottom above Y-2 indeed. The problem is that it takes time to absorb the selling. Closed the week near week low and below Y-1.
Outlook
Until B-0 is breached to the upside, prefered with a quick rally tagging B+1 first, Aussie is still trapped in consolidation / bottom forming.
A good long setup from B-0 will send it back up to B+2. Not interesting in the down side as oversold condition is building up.
Share