Recap Y-0 did not hold Aussie down. Gold surged in beginning of the week. Good enough excuses to pop Aussie to Y+2. After tagging Y+2 normal upside target, however, the pair showed no strength at Y+1 and eventually drifted back down to Y-0. Closed the week below midpoint and right above Y-0.
Outlook Holding Y-0 / B-0 zone means a retest of B+1 is in play.
Once B-1 is tagged, looking for B-0 to act as resistance with odds in favour of a flush to B-2 quickly.
Lawrence's Comment
Recap
Tricky start. Monday breached Y-1 and looked as if it cannot hold above Y-1. Then a gap and go run to search and destroy all the shorts ...
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
Breached Y+1 early in the week telling us Y+2 in play. Pulled back around 15 points (not quite the 20 points from expectation), then zoom up to target. ...
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 12 to Nov 16 Outlook
Lawrence’s Comment
Y-0 did not hold Aussie down. Gold surged in beginning of the week. Good enough excuses to pop Aussie to Y+2. After tagging Y+2 normal upside target, however, the pair showed no strength at Y+1 and eventually drifted back down to Y-0. Closed the week below midpoint and right above Y-0.
Outlook
Holding Y-0 / B-0 zone means a retest of B+1 is in play.
Once B-1 is tagged, looking for B-0 to act as resistance with odds in favour of a flush to B-2 quickly.
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