Recap Y+1 cleared without tagging Y-0 led to breakout push towards Y+3. Thin channel however failed to hold up after the last push and collapsed back down to the crime scene near Y-0. Closed the week near Y-0 and week low.
Outlook Wide range reversal points to more downside likely. Y+1 / B-0 strong resistance until proven otherwise.
Lawrence's Comment
Recap
Further pullback to Y-2 and bounced. Y-0 acted as resistance again. When Y-1 also turned into resistance we gone breakdown move to Y-4. Closed the week near Y-4 and ...
Lawrence's Comment
Recap
Continue the consolidation process as expected. Test of Y-1 resulted in a bounce to Y-0 then slow drift back down to Y-1. Closed the week near week ...
AUDUSD Sep 12 to Sep 16 Outlook
Lawrence’s Comment
Y+1 cleared without tagging Y-0 led to breakout push towards Y+3. Thin channel however failed to hold up after the last push and collapsed back down to the crime scene near Y-0. Closed the week near Y-0 and week low.
Outlook
Wide range reversal points to more downside likely. Y+1 / B-0 strong resistance until proven otherwise.
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