Recap Tighest range in several weeks. Tagged my upside target with slow drift up as expected. The reaction to that was like lightening strike and dropped Aussie lower. Closed the week near week low, above Y-0 and below midpoint.
Outlook Y+1, well 1.04 to be specific, was rejected. B-1 will likely be breached by early next week. If that happens, as long as B-0 acts as resistance, looking for B-3 / Y-1 as target.
Aussie is not reacting well to the fact that Gold failed to hold its ground. Watch gold closely for clues on Aussie this week.
Latest data from CFTC is telling us that the drastic margin requirement increase is working - the retail traders are moving away from the US regulated brokers. ...
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Lawrence's Comment
Recap
Gap down with Dow but testing the Y-0 zone only. Rallied since upto 100% absolute range expansion. As mentioned last week, we need a decisive break above Y+1 for ...
AUDUSD Nov 05 to Nov 09 Outlook
Lawrence’s Comment
Tighest range in several weeks. Tagged my upside target with slow drift up as expected. The reaction to that was like lightening strike and dropped Aussie lower. Closed the week near week low, above Y-0 and below midpoint.
Outlook
Y+1, well 1.04 to be specific, was rejected. B-1 will likely be breached by early next week. If that happens, as long as B-0 acts as resistance, looking for B-3 / Y-1 as target.
Aussie is not reacting well to the fact that Gold failed to hold its ground. Watch gold closely for clues on Aussie this week.
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