Recap Aussie struggled above Y-1 initially. Found strength from gold pop leading to a run back to crime scene. Did not even get to Y-0 and stalled. Retest of Y-1 confirmed the weaknesses and slided down more. Closed the week below Y-1 and midpoint.
Outlook Gold is not as bullish as it seems and it shows in Aussie. Aussie downside target of Y-2 was not tagged. More downside expected. Will not consider long until after B-0 acting as support.
Lawrence's Comment
Recap
A frustrating week for many. As oppose to finding resistance at Y-0 and start a pullback, ES managed to hold in a tight range above previous week close. By ...
Lawrence's Comment
Recap
Rejected Y-1 early in the week provided fuel for Euro to challenge Y+1. Stopped at 100% absolute range expansion. Y-0 acted as support on pullback. Closed the week above ...
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AUDUSD Jan 27 to Jan 31 Outlook
Lawrence’s Comment
Aussie struggled above Y-1 initially. Found strength from gold pop leading to a run back to crime scene. Did not even get to Y-0 and stalled. Retest of Y-1 confirmed the weaknesses and slided down more. Closed the week below Y-1 and midpoint.
Outlook
Gold is not as bullish as it seems and it shows in Aussie. Aussie downside target of Y-2 was not tagged. More downside expected. Will not consider long until after B-0 acting as support.
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