Recap Aussie consolidated around the breakout zone mentioned last week first. Then moved to the downside confirming the weakness. Since then Y-0 acted as resistance and gave us a move down to almost B-1. Closed the week near week low and below Y-0.
Outlook Another inside week with average 4 hour range collapsed. Not quite a down channel in place. Everyone is waiting for something to jump onboard. Could be US government shutdown, could be something else.
Will be interested in breakout play above B-0 and below Y-1. Markets do not stay quiet like this for long.
Lawrence's Comment
Recap
Brexit effect controlling cable all week. FBO Y-1 in the beginning of the week sent cable back up to Y+1. Bull flag on 4 hours pullback to 1.44 round ...
AUDUSD Sep 30 to Oct 04 Outlook
Lawrence’s Comment
Aussie consolidated around the breakout zone mentioned last week first. Then moved to the downside confirming the weakness. Since then Y-0 acted as resistance and gave us a move down to almost B-1. Closed the week near week low and below Y-0.
Outlook
Another inside week with average 4 hour range collapsed. Not quite a down channel in place. Everyone is waiting for something to jump onboard. Could be US government shutdown, could be something else.
Will be interested in breakout play above B-0 and below Y-1. Markets do not stay quiet like this for long.
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