Recap Aussie moved under Y-1 as expected and attempts to pop it higher was seen without touching Y-2. Yet there was no strength to push Assuie higher to clear the Y-0 resistance. Consolidation around week open in tight range. Closed the week below Y-1 and midpoint.
Outlook Consolidation after strong selling points to continuation to the downside. Until B+1 is cleared we do not have a case for bottom. Next target B-2 to the downside is likely.
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
Dip to Y-1 and bounced back up to Y-0. Closed the week at midpoint.
Outlook
As mentioned last week, this pair has produced a long term bottom and buying ...
Lawrence's Comment
Recap
Failed to push above bear flag resistance. Bear flag support broken later in the week leading to all out flush down to Y-1. Closed the week below ...
AUDUSD Dec 15 to Dec 19 Outlook
Lawrence’s Comment
Aussie moved under Y-1 as expected and attempts to pop it higher was seen without touching Y-2. Yet there was no strength to push Assuie higher to clear the Y-0 resistance. Consolidation around week open in tight range. Closed the week below Y-1 and midpoint.
Outlook
Consolidation after strong selling points to continuation to the downside. Until B+1 is cleared we do not have a case for bottom. Next target B-2 to the downside is likely.
Share