Recap Early in the week trying to rally from Y-0 to Y+1 failed. Flushed down to Y-1 instead. FBO against Y-1 gave us the 2nd scenario from last week and rallied back above Y-0 since. Closed the week above Y-0 and midpoint.
Outlook The reversal setup is intact. Looking for B+3 on swing basis in a week or 2. For this swing low play to work out, will need Aussie to hold Y-1.
Lawrence's Comment
Recap
Sideway actions as expected. 50% range all week. Closed the week below Y-0 and midpoint.
Outlook
Compression gives us breakout mode. Potential slingshot move with Y-1 being retested first ...
AUDUSD Feb 25 to Mar 01 Outlook
Lawrence’s Comment
Early in the week trying to rally from Y-0 to Y+1 failed. Flushed down to Y-1 instead. FBO against Y-1 gave us the 2nd scenario from last week and rallied back above Y-0 since. Closed the week above Y-0 and midpoint.
Outlook
The reversal setup is intact. Looking for B+3 on swing basis in a week or 2. For this swing low play to work out, will need Aussie to hold Y-1.
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