Recap Spike low against Y-1 above Y-2 sent Aussie back up to Y-0 as expected. Going sideway since. Closed the week near Y-0 and above midpoint.
Outlook Gold test of year low in progress and the outcome can dictate the next move in Aussie. If gold going for all out break down from the current level, Aussie will be the collateral damage with channel top resistance at B+1 and dropping down to B-2 target.
Lawrence's Comment
Recap
Consolidation around Y-1 and 50% range of the week before. Closed near the week low.
Outlook
No clear swing formation to lean on. Even last week I can tell ...
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
Flushed and then bounced. But first reaction pullback failed to tag Y-0 and also failed to hold above Y-1. Closed the week near week low.
Outlook
Flushing process started. ...
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
AUDUSD Nov 16 to Nov 20 Outlook
Lawrence’s Comment
Spike low against Y-1 above Y-2 sent Aussie back up to Y-0 as expected. Going sideway since. Closed the week near Y-0 and above midpoint.
Outlook
Gold test of year low in progress and the outcome can dictate the next move in Aussie. If gold going for all out break down from the current level, Aussie will be the collateral damage with channel top resistance at B+1 and dropping down to B-2 target.
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