Recap Rallied to the upside target of Y+2. Found resistance and sold off back down to Y-0 support. Y-0 could not hold it up, resulted in directional slide down to Y-2. Closed the week below Y-2 and near week low.
Outlook Gold found resistance above so Aussie has no choice but to drop with gold. As long as Y-2 / B-0 can cap any bounce, Aussie short term up trend is now over.
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
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
Lawrence's Comment
Recap
Gave us a beautiful reversal right off the start of the week with Y+2 target tagged with no heat. Y+1 support since. Ran straight up to Y+3 target before ...
AUDUSD Jan 20 to Jan 24 Outlook
Lawrence’s Comment
Rallied to the upside target of Y+2. Found resistance and sold off back down to Y-0 support. Y-0 could not hold it up, resulted in directional slide down to Y-2. Closed the week below Y-2 and near week low.
Outlook
Gold found resistance above so Aussie has no choice but to drop with gold. As long as Y-2 / B-0 can cap any bounce, Aussie short term up trend is now over.
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