Recap Early in the week trying to rally from Y-0 to Y+1 failed. Flushed down to Y-1 instead. FBO against Y-1 gave us the 2nd scenario from last week and rallied back above Y-0 since. Closed the week above Y-0 and midpoint.
Outlook The reversal setup is intact. Looking for B+3 on swing basis in a week or 2. For this swing low play to work out, will need Aussie to hold Y-1.
Lawrence's Comment
Recap
The weaknesses in gold enabled US dollar gaining strength suddenly. After first part of the week spent in consolidation and potential top forming, the collapse in gold triggered a ...
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 25 to Mar 01 Outlook
Lawrence’s Comment
Early in the week trying to rally from Y-0 to Y+1 failed. Flushed down to Y-1 instead. FBO against Y-1 gave us the 2nd scenario from last week and rallied back above Y-0 since. Closed the week above Y-0 and midpoint.
Outlook
The reversal setup is intact. Looking for B+3 on swing basis in a week or 2. For this swing low play to work out, will need Aussie to hold Y-1.
Share