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
As explained last week, gold will play an important role. As gold rallied last week, this pair went thru wild take down until Y-2 was tagged. Closed the week ...
Lawrence's Comment
Recap
The less likely scenario happened. Free ride from Y-0 to Y-2. Closed the week above Y-1.
Outlook
The reaction at B-0 points to a retest of B-1. Congestion within B-0 ...
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.
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