Trading Edges That Last
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AUDUSD Feb 10 to Feb 14 Outlook
Lawrence’s Comment
Breakout happened although it is not towards the downside. Same drill with Y+3 normal breakout target tagged and consolidated around that since. Closed the week below Y+3 and above midpoint.
Outlook
Gold spiked higher and Aussie confirmed that. It is producing a very interesting setup.
If gold finds resistance right above and selloff again, Aussie will be forced to drop back down to at least B-1.
If gold can hold the top range from last week while Aussie pullback to B-0, upside breakout of B+1 will give us at least B+3.
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