Recap Equal distance consolidation off open of the week. 1-2-3 buy off round # 0.745 sent Aussie back up to Y-0 / round # 0.760. Closed the week below Y-0 and above midpoint.
Outlook Down channel intact. Until B+1 is cleared and turning into support, Aussie will likely be forced to retest B-1.
Lawrence's Comment
Recap
Reversal expectation played out. Euro rejected Y-1 and zoomed above Y+1 right after FOMC announcement. Strong reaction above Y+1. Closed the week above Y-0 and midpoint.
Outlook
Although euro ...
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Lawrence's Comment
Recap
Perfect pullback to my resistance price and dropped all the way to end of week. Closed the week at the low and below Y-1.
Outlook
As mentioned in MBO ...
AUDUSD Sep 05 to Sep 09 Outlook
Lawrence’s Comment
Equal distance consolidation off open of the week. 1-2-3 buy off round # 0.745 sent Aussie back up to Y-0 / round # 0.760. Closed the week below Y-0 and above midpoint.
Outlook
Down channel intact. Until B+1 is cleared and turning into support, Aussie will likely be forced to retest B-1.
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