Recap 2 weekly down trend resistance breakout gave us a run to 2 week high and in turn stops are found and sent Aussie to Y+2. Strong reaction at Y+2 sent Aussie back down to Y+1.
Outlook Potential FBO in place if Aussie cannot hold above Y+1, with Y-1 target. As long as Y+1 holds, one more attempt to push higher likely.
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
ES failed to clear 1650 and dropped down to the gap below as expected. Multiple 75% swings producing a triangle pattern on 30-min. Closed the week below Y-0 and ...
AUDUSD May 18 to May 22 Outlook
Lawrence’s Comment
2 weekly down trend resistance breakout gave us a run to 2 week high and in turn stops are found and sent Aussie to Y+2. Strong reaction at Y+2 sent Aussie back down to Y+1.
Outlook
Potential FBO in place if Aussie cannot hold above Y+1, with Y-1 target. As long as Y+1 holds, one more attempt to push higher likely.
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