Recap With help of gold, Aussie did not even stopped at Y+1 on the first retest. Opened the door way to Y+2 and tagging that too in a day. Pullback to Y+1. Closed the week near week high and above Y+1.
Outlook Was caught by surprise on that 4 hour close above Y+1 on first try. Waited for weaknesses that never happened. Missed the ride to Y+2 myself.
End of week up move failed to close above Y+2. If that stays as resistance a move back down to Y+1 / B-0 is likely. It is by no means a selloff. Just end of year consolidation.
If B+1 is cleared, looking for a quick run to B+2.
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
Like Euro, rallied higher after more b.s. from European officials. Tagged Y+1 but failed to hold above and produced a 1-2-3 sell right there. The FBO led ...
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 Dec 17 to Dec 21 Outlook
Lawrence’s Comment
With help of gold, Aussie did not even stopped at Y+1 on the first retest. Opened the door way to Y+2 and tagging that too in a day. Pullback to Y+1. Closed the week near week high and above Y+1.
Outlook
Was caught by surprise on that 4 hour close above Y+1 on first try. Waited for weaknesses that never happened. Missed the ride to Y+2 myself.
End of week up move failed to close above Y+2. If that stays as resistance a move back down to Y+1 / B-0 is likely. It is by no means a selloff. Just end of year consolidation.
If B+1 is cleared, looking for a quick run to B+2.
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