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
Feb close did not even attempt to hold up at Y-1 and slided to 50% downside expansion target at Y-2. The bounce was stopped right at Y-1 ...
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Lawrence's Comment
Recap
Consolidation actions with equal distance from Y-1. 1.40 longer term support tested from above. Closed the week below Y-1 and near week low.
Outlook
Up channel breakdown target tagged. ...
Recap of last week As expected, rally in USDJPY continued last week. It failed to tag previous month high, however, making it difficult to tell if it is more ...
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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