Recap B-0 did not act as support earlier in the week. After breaking below Y-1, no more long interest showing up. A flush to below Y-2 by end of the week. Closed the week below Y-2 and at week low.
Outlook The pullback / consolidation on Aussie has finally started. The next support level below is B-2. Selling down to that slowly implies another up leg potential on higher timeframe.
Flushing through B-2 will invalidate the longer term bullish scenario.
Lawrence's Comment
Recap
Updrift all the way as no new news shock coming from Euro zone. The updrift ended with a 3 pushes up and stalled. Closed the week above Y+1 and ...
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
Feb close did not even attempt to hold up at Y-1 and slided to 50% downside expansion target at Y-2. The bounce was stopped right at Y-1 ...
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 Aug 20 to Aug 24 Outlook
Lawrence’s Comment
B-0 did not act as support earlier in the week. After breaking below Y-1, no more long interest showing up. A flush to below Y-2 by end of the week. Closed the week below Y-2 and at week low.
Outlook
The pullback / consolidation on Aussie has finally started. The next support level below is B-2. Selling down to that slowly implies another up leg potential on higher timeframe.
Flushing through B-2 will invalidate the longer term bullish scenario.
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