Recap Aussie found support at Y-1 and bounced towards Y-0. Y-0 very strong resistance as explained last week which forced Aussie to retest Y-1. Y-1 spike reversal against Y-1 and popped back up to challenge Y-0 yet failed again. Closed the week below Y-0 and near midpoint.
Outlook Stair step down trend points to more downside. Until Y-0 / B+1 turning into support down trend in strong.
Lawrence's Comment
Recap
Unlike Dow, NQ successfully breakout early in the week and Y+1 has been acting as support all the way. Then the rally pushed NQ to our upside ...
Lawrence's Comment
Recap
Moved lower in the beginning of the week as expected. Reversal from there to challenge Y-0 and gave us the Y+1 run. Closed at week high and right below ...
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AUDUSD Aug 03 to Aug 07 Outlook
Lawrence’s Comment
Aussie found support at Y-1 and bounced towards Y-0. Y-0 very strong resistance as explained last week which forced Aussie to retest Y-1. Y-1 spike reversal against Y-1 and popped back up to challenge Y-0 yet failed again. Closed the week below Y-0 and near midpoint.
Outlook
Stair step down trend points to more downside. Until Y-0 / B+1 turning into support down trend in strong.
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