Recap Easy play of the week. Y-0 resistance sent Aussie back down to Y-2 as expected. The nice surprise was the cut through with no reaction there at all. 200% absolute range expansion stopped the drop. Closed the week below Y-3 and midpoint.
Outlook Y-2 / B-0 resistance above. Momentum too strong for any significant bounce to happen. Thus more downside likely before a chance of a stronger bounce.
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
Unlike Dow or S&P, NQ was forced to breakout upside when both Dow and S&P both moving up strongly. It has been a long while since last ...
AUDUSD May 26 to May 30 Outlook
Lawrence’s Comment
Easy play of the week. Y-0 resistance sent Aussie back down to Y-2 as expected. The nice surprise was the cut through with no reaction there at all. 200% absolute range expansion stopped the drop. Closed the week below Y-3 and midpoint.
Outlook
Y-2 / B-0 resistance above. Momentum too strong for any significant bounce to happen. Thus more downside likely before a chance of a stronger bounce.
Share