Lawrence's Comment
Recap
The down channel was broken to the downside, resulting in a flush. Y-2 tagged and bounced off. Closed the week below Y-1 and B-0.
Outlook
3rd week printing lower ...
Lawrence's Comment
Recap
A bounce was expected but not a huge rally like what we got last week. Somehow "good news" after "good news" were fed out during the holiday ...
Lawrence's Comment
Recap
Enough people thought that they are so smart in recognizing the Friday prior to lask week as some kind of capitulation, they got themselves into a wild ride ...
AUDUSD Dec 12 to Dec 16 Outlook
Lawrence’s Comment
As expected, failed to breakout above Y+1 and dropped back down to Y-0. Closed the week at midpoint.
Outlook
Intervention effect from the central banks takes time to be absorbed by the markets.
As long as B-1 holds, Aussie has a good chance to test B+1 again.
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