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
Upside push failed to clear Y+1 resistance resulted in retest of Y-0. Break of Y-0 in just 1 try, gapped to Y-1 and flushed down to Y-2 target mentioned ...
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
Overall whole week behaved what a normal continuation week should with all the details completely messed up. First, Dow triple bottom against Y-1 and bounced back up to Y-0. ...
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.
Share