Recap Aussie struggled above Y-1 initially. Found strength from gold pop leading to a run back to crime scene. Did not even get to Y-0 and stalled. Retest of Y-1 confirmed the weaknesses and slided down more. Closed the week below Y-1 and midpoint.
Outlook Gold is not as bullish as it seems and it shows in Aussie. Aussie downside target of Y-2 was not tagged. More downside expected. Will not consider long until after B-0 acting as support.
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
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
Breakout play worked out. Clearing Y-1 gave us a straight melt down to Y-3 target. Then a technical bounce took ES higher back to Y-1. Closed the ...
AUDUSD Jan 27 to Jan 31 Outlook
Lawrence’s Comment
Aussie struggled above Y-1 initially. Found strength from gold pop leading to a run back to crime scene. Did not even get to Y-0 and stalled. Retest of Y-1 confirmed the weaknesses and slided down more. Closed the week below Y-1 and midpoint.
Outlook
Gold is not as bullish as it seems and it shows in Aussie. Aussie downside target of Y-2 was not tagged. More downside expected. Will not consider long until after B-0 acting as support.
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