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
Selloff as expected. Tagged Y-1 target and 13000 round number level. But that was all the bears got. News shock sent Dow back up to the gap and ...
Lawrence's Comment
Recap
Rejected twice below Y-0 at 1.62. 2nd time sent cable down to Y-2. Staying weak as expected. Sold off to the nearest target as expected. Closed the week ...
Lawrence's Comment
Recap
Got the pullback as expected. Found support from previous breakout area. Closed the week near Y-0.
Outlook
More consolidation / pullback until the multiple weeks rally is absorbed.
Gaps ...
Lawrence's Comment
Recap
Pullback started right after a failed test of Y+1. A rare double top pattern created with Y-2 target after New Year. Closed the week below Y-1 and near week ...
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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.
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