Recap Bearish expectation worked out for Aussie. Rising wedge breakdown led to selloff down to target Y-5 and below. Closed the week below Y-5 and near week low.
Outlook Weaknesses in Aussie means gold may have limited upside. Consolidation likely with reduced range for Aussie this week. B-1 turning into support points to retest of B-0.
Lawrence's Comment
Recap
Development in Libya and Japan shocks many markets including this one. Failed to hold above Y-0 and stalled to a tight range between Y-1 to Y-0.
Outlook
If B+1 is ...
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Lawrence's Comment
Recap
Failed to trade above the resistance I mentioned last week. Messy price action around Y-1 since. Capped within 50% previous week range. Closed the week below midpoint and above ...
Lawrence's Comment
Recap
No drastic move last week. 2nd week of pullback from the multiple week rally. Closed the week below Y-1 and midpoint.
Outlook
Still moving within the context of consolidation / pullback ...
Lawrence's Comment
Recap
Breakout above Y+1 and that turned into support, giving us the classic STOPD run to Y+3. Isn't that simple enough?
Outlook
As long as B-0 acts as support, uptrend intact ...
AUDUSD Jan 11 to Jan 15 Outlook
Lawrence’s Comment
Bearish expectation worked out for Aussie. Rising wedge breakdown led to selloff down to target Y-5 and below. Closed the week below Y-5 and near week low.
Outlook
Weaknesses in Aussie means gold may have limited upside. Consolidation likely with reduced range for Aussie this week. B-1 turning into support points to retest of B-0.
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