Recap Was looking for a pullback to Y-0 for confirmation of the strength of the rally. That turned into a full scale selloff. Interesting that it closed at right at Y-0.
Outlook Closing at Y-0 means some kind of equalibrium is reached at current price level. Thus the pair is likely going into congestion, trapped between B-0 and B-1. A break of B-1 means B-2 will be tested quickly.
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
Sudden intraday swings all week. 100% range capped all the moves. Closed the week belowY-0 and above midpoint.
Outlook
Brexit week means wait and see until it is over. ...
Lawrence's Comment
Recap
Cannot clear previous week close and led to all out selloff down to Y-3 target. Bounced from Y-3 and tested Y-1 from below. Closed the week below Y-1 and ...
AUDUSD Feb 14 to Feb 18 Outlook
Lawrence’s Comment
Was looking for a pullback to Y-0 for confirmation of the strength of the rally. That turned into a full scale selloff. Interesting that it closed at right at Y-0.
Outlook
Closing at Y-0 means some kind of equalibrium is reached at current price level. Thus the pair is likely going into congestion, trapped between B-0 and B-1. A break of B-1 means B-2 will be tested quickly.
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