Recap Aussie broke out to the upside tagging Y+2 but failed to hold above Y+1. That opened the door to Y-1 due to the violent FBO. Y-1 tagged next. Closed the week near Y-1 and below midpoint.
Outlook Wide range outside week reversal in place. It is a surprise partly due to the strength in gold lately. At this point, Aussie is foretelling gold may not be able to hold onto its gains.
As long as Y-0 / B-0 acting as resistance, a push towards B-2 is likely.
Lawrence's Comment
Recap
Got the pullback as expected. Not much else to play with since. Closed the week near Y-0 and B-1.
Outlook
2 weeks in a row with midpoint around same price level ...
Lawrence's Comment
Recap
Expected a retest of the support zone below Y-1 but loonie just refused to get there. Popped right off previous week close and back up to Y-0. Then reacted ...
Lawrence's Comment
Recap
ES failed to clear Y+1, gave us a run for Y-0. Y-0 tagged and bounced. Failed to clear previous week close like Dow has opened the door to break ...
AUDUSD Jul 07 to Jul 11 Outlook
Lawrence’s Comment
Aussie broke out to the upside tagging Y+2 but failed to hold above Y+1. That opened the door to Y-1 due to the violent FBO. Y-1 tagged next. Closed the week near Y-1 and below midpoint.
Outlook
Wide range outside week reversal in place. It is a surprise partly due to the strength in gold lately. At this point, Aussie is foretelling gold may not be able to hold onto its gains.
As long as Y-0 / B-0 acting as resistance, a push towards B-2 is likely.
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