Recap Y+1 rejected which gave us Y-0 and below. Gold not going up quickly contributed to the move. Closed the week below Y-0 and midpoint.
Outlook A pullback from multiple weeks up leg is normal. The slow drift downward is sign of strength. A break of previous week resistance line will give us a go for Y+1 / B+1.
The wildcard is that if gold collapses from the current level, we can lean on a break of Y-1 down to B-3.
Lawrence's Comment
Recap
As the US debt talk crisis continue, USD trashed across all majors. Closed the week at the G8 intervention price level now.
Outlook
Weak but also potential long term bottom ...
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Lawrence's Comment
Recap
Started the week rejecting Y+1 and dropped quickly. Y-0 then acted as resistance giving us a drop to below Y-1. Yet originaly down side target still not reached and ...
AUDUSD Feb 24 to Feb 28 Outlook
Lawrence’s Comment
Y+1 rejected which gave us Y-0 and below. Gold not going up quickly contributed to the move. Closed the week below Y-0 and midpoint.
Outlook
A pullback from multiple weeks up leg is normal. The slow drift downward is sign of strength. A break of previous week resistance line will give us a go for Y+1 / B+1.
The wildcard is that if gold collapses from the current level, we can lean on a break of Y-1 down to B-3.
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