Recap Aussie tried to hold above Y+1 but failed. That opened the door to Y-1 retest. Got the retest done and bounced off since. Closed the week above midpoint and Y-0.
Outlook 2nd reject of Y-1 / B-1 points to potential important bottom in place. If Aussie can clear B+1 in 1 go we have double bottom in place with target of B+3.
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
Consolidation week. Edged higher above Y+1 but failed to hold above it. Closed the week above Y-0 and near midpoint.
Outlook
There is no real direction developed from the week. Ukraine ...
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
As mentioned last week, the pocket below has to be taken care of first. Gap up open did not change the bias and gave us an even better drop. ...
AUDUSD May 06 to May 10 Outlook
Lawrence’s Comment
Aussie tried to hold above Y+1 but failed. That opened the door to Y-1 retest. Got the retest done and bounced off since. Closed the week above midpoint and Y-0.
Outlook
2nd reject of Y-1 / B-1 points to potential important bottom in place. If Aussie can clear B+1 in 1 go we have double bottom in place with target of B+3.
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