AUDUSD Jun 04 to Jun 08 Outlook

By News Robot

Lawrence’s Comment

Recap
Gap up early in the week failed to push above Y+1. Formed a double top and sold off from there. Flushed to Y-2 as expected. Bounced quickly back to Y-1. Closed the week at Y-1.

Outlook
Got the flush to Y-2 and the snap back up to Y-1. But it happened late in the week making it not possible to develop the bounce further.

Early next week as long as Y-1 acts as support, a run to B+1 is likely.

Potential long term bottom in the making. Need coming week to confirm.

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