Recap Y-1 retest as expected. Y-1 support gave us a run for Y-0. Y-0 tagged and Aussie went sideway since. Closed the week below Y-0 and above midpoint.
Outlook Double bottom setup on 4 hours points to a slow drift up to above B+1 / 0.71 crime scene as long as B-0 acting as support. Breakingn below B-0 points to a retest of Y-1 / B-1 but it is not necessary to go much lower because Aussie is sitting on top of longer term support zone here.
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
A nice reversal surprise that worked out well. Aussie held the support zone mentioned last time with a perfect 1-2-3 long. Tagged Y-0 and zoomed to pre-break down price ...
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
New low on Monday confirmed the bearish scenario of 8 waves down to come. The 3 sell waves down completed by Friday.
Outlook
Again, if we get a bottom formation ...
AUDUSD Oct 05 to Oct 09 Outlook
Lawrence’s Comment
Y-1 retest as expected. Y-1 support gave us a run for Y-0. Y-0 tagged and Aussie went sideway since. Closed the week below Y-0 and above midpoint.
Outlook
Double bottom setup on 4 hours points to a slow drift up to above B+1 / 0.71 crime scene as long as B-0 acting as support. Breakingn below B-0 points to a retest of Y-1 / B-1 but it is not necessary to go much lower because Aussie is sitting on top of longer term support zone here.
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