Recap More consolidation actions as expected. Y-0 support and by the end of the week previous week close support sent Aussie gunning for Y+2. Closed the week above Y+1 and at week high.
Outlook An up channel is now formed with channel top aligns with Y+2 / crime scene from Brexit. Test of channel top failure to breakout will give us a drop back down to channel bottom at B-0 and below.
Lawrence's Comment
Recap
Once Y-0 was breached, we get our target Y-2. Pretty easy, isn't it?
Outlook
B-1 is potentially a strong support level as many shorts are trapped underneath.
If B-1 acts as ...
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
AUDUSD Jul 11 to Jul 15 Outlook
Lawrence’s Comment
More consolidation actions as expected. Y-0 support and by the end of the week previous week close support sent Aussie gunning for Y+2. Closed the week above Y+1 and at week high.
Outlook
An up channel is now formed with channel top aligns with Y+2 / crime scene from Brexit. Test of channel top failure to breakout will give us a drop back down to channel bottom at B-0 and below.
Share