Recap Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 hours leading to a move from Y-1 to Y+1 quickly. Y+1 cleared and my Y+2 target was tagged later. Closed the week above Y+1 and midpoint.
Outlook Outside up close is bullish. Y+1 / B-0 support for at least a retest of B+1. Consolidation is expected near previous week close at 50% week range.
Lawrence's Comment
Recap
Stopped right at the resistance zone mentioned last week. Sold off to Y-0 with very strong reaction to the price level, implying that Y-0 is strong support ...
Lawrence's Comment
Recap
News shock. Forced the week to open from Y-1. That turned Y-0 into resistance and target of Y-2 was reached by the end of the week.
Outlook
The overall price ...
Lawrence's Comment
Recap
Consolidation actions after wide range expansion was normal. ECB decisions sparked wild swings both ways. Y-0 support gave us a run for Y+2 but not enough time to get ...
Lawrence's Comment
Recap
Popped higher right from the start of the week. Pullback found support at Y+1 / previous week close pointing to Y+2 target in play. Got Y+2 and consolidated around ...
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
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 Apr 20 to Apr 24 Outlook
Lawrence’s Comment
Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 hours leading to a move from Y-1 to Y+1 quickly. Y+1 cleared and my Y+2 target was tagged later. Closed the week above Y+1 and midpoint.
Outlook
Outside up close is bullish. Y+1 / B-0 support for at least a retest of B+1. Consolidation is expected near previous week close at 50% week range.
Share