Recap Consolidation around Y+1 / previous week close area. Bounded within 50% previous week range. Closed the week at Y+1 and above midpoint.
Outlook Fought very hard to hold the Y+1 level but still no clear winner yet. Can’t blame them because gold collapsed back down and usual Aussie is forced to follow. Obviously, lots of hope built up in Aussie that gold would go higher.
A rounding top in the making if B-0 fails to hold this up. Target below B-2.
As long as B-0 is acting as support, looking for B+2 very soon.
Lawrence's Comment
Recap
Consolidation as expected in first half of the week. But then Dow and S&P started their battle of short elimination, taking NQ higher in the process. NQ cleared Y+1 ...
Lawrence's Comment
Recap
Bounced back up in tight range around Y-1 is normal after the sudden wide range reversal. Closed the week above Y-1 and midpoint.
Outlook
As long as Y-1 / ...
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
AUDUSD Oct 14 to Oct 18 Outlook
Lawrence’s Comment
Consolidation around Y+1 / previous week close area. Bounded within 50% previous week range. Closed the week at Y+1 and above midpoint.
Outlook
Fought very hard to hold the Y+1 level but still no clear winner yet. Can’t blame them because gold collapsed back down and usual Aussie is forced to follow. Obviously, lots of hope built up in Aussie that gold would go higher.
A rounding top in the making if B-0 fails to hold this up. Target below B-2.
As long as B-0 is acting as support, looking for B+2 very soon.
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