Recap Attempts to breakout above Y+1 failed as Y+1 never turned into support. Consolidation in tight range all week. Closed the week near Y+1 and above midpoint.
Outlook Y-0 support points to the intention of retesting the spike high near Y+2. Strong resistance at Y+2 / B+2. Breaking below B-1 will give us B-2 and potential continuation of weekly down trend.
Lawrence's Comment
Recap
Has been talking about this 86-88 long term target for months. Finally there thanks to the new government. Closed the week above Y+3.
Outlook
Long term bias to move ...
Lawrence's Comment
Recap
Euro zoomed back up to Y-0 as expected and stalled from there as the strong downside momentum is still in force. Reaching only 50% of the absolute range ...
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
AUDUSD Feb 22 to Feb 26 Outlook
Lawrence’s Comment
Attempts to breakout above Y+1 failed as Y+1 never turned into support. Consolidation in tight range all week. Closed the week near Y+1 and above midpoint.
Outlook
Y-0 support points to the intention of retesting the spike high near Y+2. Strong resistance at Y+2 / B+2. Breaking below B-1 will give us B-2 and potential continuation of weekly down trend.
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