Recap Y-0 resistance gave us a test of Y-1. FBO against Y-1 gave us reversal back up to Y+1. No surprises whatsoever. Closed the week near Y+1 and week high.
Outlook FOMC announcement affected gold and in turn affected Aussie. FBO reversal likely have follow thru hence Y+2 / B+2 are in play. Strong resistance beyond that point.
Lawrence's Comment
Recap
Target mentioned last week tagged first and then bounced off. Second drop broken Y-1 support level and the downside target Y-2 tagged by the end of the week.
Outlook
Three ...
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Lawrence's Comment
Recap
Pullback to Y-1 and went higher since. Another perfect pullback and rally to target. Closed the week near Y+1.
Outlook
As long as B-0 acting as support looking ...
Lawrence's Comment
Recap
Y-1 acted as support. Bounced back up to Y-0 and found resistance. Dropped to equal distance below previous week close. Closed the week near Y-1 and below midpoint.
...
Lawrence's Comment
Recap
Gap down but ran back up immediately to close the gap. Then failed to push higher and flushed down to Y-1 to test the support. Took off from there ...
AUDUSD Aug 01 to Aug 05 Outlook
Lawrence’s Comment
Y-0 resistance gave us a test of Y-1. FBO against Y-1 gave us reversal back up to Y+1. No surprises whatsoever. Closed the week near Y+1 and week high.
Outlook
FOMC announcement affected gold and in turn affected Aussie. FBO reversal likely have follow thru hence Y+2 / B+2 are in play. Strong resistance beyond that point.
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