Recap Aussie breached Y-0 and gave us a nice drop to Y-1. Failed to hold Y-1 and broke down to Y-2 and then Y-3 before it could bounce. Y-2 resistance sent it down to Y-4 eventually. Closed the week below Y-4 and near week low.
Outlook Gold’s weaknesses foretell this pullback in Aussie a week ago. The extension to Y-4 was a surprise. Weekly trend is now down. B-0 strong resistance with lower price level expected early next week. Even if Aussie goes into consolidation, it will be wild swings both ways.
Lawrence's Comment
Recap
Started the week holding Y-0. Upside breakout tagged target Y+2 and stalled. Struggled to hold Y+1 since. Closed the week above Y+1 and near midpoint.
Outlook
1.13 and above ...
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
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
Lawrence's Comment
Recap
Tried to move higher but the price action was just too weak. Bear flag top gave us a flush back down to my downside target Y-2. Closed the week ...
AUDUSD Sep 15 to Sep 19 Outlook
Lawrence’s Comment
Aussie breached Y-0 and gave us a nice drop to Y-1. Failed to hold Y-1 and broke down to Y-2 and then Y-3 before it could bounce. Y-2 resistance sent it down to Y-4 eventually. Closed the week below Y-4 and near week low.
Outlook
Gold’s weaknesses foretell this pullback in Aussie a week ago. The extension to Y-4 was a surprise. Weekly trend is now down. B-0 strong resistance with lower price level expected early next week. Even if Aussie goes into consolidation, it will be wild swings both ways.
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