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Lawrence's Comment Recap Dow tried to hold support all week but failed to clear Y+1 resistance. Friday breakdown move flushed to Y-3 directly. Closed the week near Y-3 and week low. ...READ MORELawrence's Comment Recap Down channel resistance early in the week pressed price down to Y-0 and opened the door to Y-1. Y-1 tested mid week and held. Closed the week below Y-0 ...READ MOREFor 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 scheduleREAD MOREDow 30 Sep 12 to Sep 16 OutlookHot n Cold (AUDUSD) 2020-4-103DP Odds Table (AUDUSD) 2020-10-13USDCAD May 18 to May 22 Outlook3DP Odds Table (AUDUSD) 2018-03-22EURUSD Oct 18 to Oct 22 Outlook3DP Odds Table (AUDUSD) 2023-05-01Dow 30 Sep 05 to Sep 09 OutlookUSDCAD Dec 28 to Jan 01 OutlookPrecog Vision – Forex 2018-3-15
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AUDUSD May 05 to May 09 Outlook
Lawrence’s Comment
Y-0 resistance gave us a drop below Y-1. Down channel bottom acted as support again allowing Aussie drift back up. 2nd test of Y-0 resistance did not clear it either. US NFP report sent Aussie down to my downside flush target and bounced. Closed the week above Y-1 and midpoint.
Outlook
As mentioned last week Aussie has one more flush in it and it found an excuse to finish the job. With a strong rejection below in place, Y-1 acting as support is likely with not only a retest of Y+1 / B+1 but also a run to B+2 has a good chance.
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