Recap Struggled at Y-1 and eventually break below but failed to tag Y-2. That set the stage to rally back to Y-0. Closed the week near Y-0 and week high.
Outlook None of the major weekly target points are tagged, meaning the market is directionless. The reversal in later part of the week points to higher prices at B+2 if B-0 can act as support.
Not expecting a major move to materialize unless Loonie joins the party.
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
Lawrence's Comment
Recap
Breakout play to the upside gave us Y+2 and above. 100% absolute range expansion capped the upside. Closed the week above Y+2 and near week high.
Outlook
No sign ...
Bloomberg just revealed the allegation made by New York regulators against Deutsche Bank. http://www.bloomberg.com/news/2014-12-10/ny-regulator-said-to-probe-deutsche-bank-barclays-fx-algorithms.html?hootPostID=c3a0b99fe1cf5f2d282303c2f5580895 This is what you get when the bank created the bot in the first ...
AUDUSD Mar 19 to Mar 23 Outlook
Lawrence’s Comment
Struggled at Y-1 and eventually break below but failed to tag Y-2. That set the stage to rally back to Y-0. Closed the week near Y-0 and week high.
Outlook
None of the major weekly target points are tagged, meaning the market is directionless. The reversal in later part of the week points to higher prices at B+2 if B-0 can act as support.
Not expecting a major move to materialize unless Loonie joins the party.
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