Recap Y-0 resistance gave us a test of Y-1. FBO against Y-1 gave us reversal back up to Y+1. No surprises whatsoever. Closed the week near Y+1 and week high.
Outlook FOMC announcement affected gold and in turn affected Aussie. FBO reversal likely have follow thru hence Y+2 / B+2 are in play. Strong resistance beyond that point.
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
Lawrence's Comment
Recap
Am correct that euro entered its resistance area from various higher timeframes. The sell off from 1.39 of 200+ pips confirm longer term players are reacting to ...
AUDUSD Aug 01 to Aug 05 Outlook
Lawrence’s Comment
Y-0 resistance gave us a test of Y-1. FBO against Y-1 gave us reversal back up to Y+1. No surprises whatsoever. Closed the week near Y+1 and week high.
Outlook
FOMC announcement affected gold and in turn affected Aussie. FBO reversal likely have follow thru hence Y+2 / B+2 are in play. Strong resistance beyond that point.
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