Recap Tighest range in several weeks. Tagged my upside target with slow drift up as expected. The reaction to that was like lightening strike and dropped Aussie lower. Closed the week near week low, above Y-0 and below midpoint.
Outlook Y+1, well 1.04 to be specific, was rejected. B-1 will likely be breached by early next week. If that happens, as long as B-0 acts as resistance, looking for B-3 / Y-1 as target.
Aussie is not reacting well to the fact that Gold failed to hold its ground. Watch gold closely for clues on Aussie this week.
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
The interesting scenario mentioned last week has played out nicely and tagged the 1st target of Y-3 and also the 2nd target of Y-4. Closed at 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
Lawrence's Comment
Recap
News shock. Gap down to the downside target first. The funny thing is that the expected rally still happened right after the gap down is completed. Closed ...
Lawrence's Comment
Recap
Aussie breached Y-0 and gave us a nice drop to Y-1. Failed to hold Y-1 and broke down to Y-2 and then Y-3 before it could bounce. Y-2 resistance ...
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 Nov 05 to Nov 09 Outlook
Lawrence’s Comment
Tighest range in several weeks. Tagged my upside target with slow drift up as expected. The reaction to that was like lightening strike and dropped Aussie lower. Closed the week near week low, above Y-0 and below midpoint.
Outlook
Y+1, well 1.04 to be specific, was rejected. B-1 will likely be breached by early next week. If that happens, as long as B-0 acts as resistance, looking for B-3 / Y-1 as target.
Aussie is not reacting well to the fact that Gold failed to hold its ground. Watch gold closely for clues on Aussie this week.
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