Recap Got breakout to the downside. Tagged Y-2. Bounced back to Y-1 and stalled from there. Closed the week at Y-2.
Outlook The good – We got the breakout from the 4 week range finally. The bad – It went back into the range by close.
If this pair can break B-1 clean, a long term sell is in place and we are looking for at least B-3. If a 1-2-3 buy from here breaking above Y-1, will get B+1 quickly. And that means it is back to range trading again.
Lawrence's Comment
Recap
As expected ninja consolidated to the down side. Dropped down to Y-0. Closed the week near Y-0 and below midpoint.
Outlook
Very tricky setup with 2 completely opposite outcomes.
First, if the ...
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
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 Mar 12 to Mar 16 Outlook
Lawrence’s Comment
Got breakout to the downside. Tagged Y-2. Bounced back to Y-1 and stalled from there. Closed the week at Y-2.
Outlook
The good – We got the breakout from the 4 week range finally.
The bad – It went back into the range by close.
If this pair can break B-1 clean, a long term sell is in place and we are looking for at least B-3.
If a 1-2-3 buy from here breaking above Y-1, will get B+1 quickly. And that means it is back to range trading again.
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