Recap Momentum carried Aussie lower to Y-2 as expected. No spike low, just drift back up from Y-2 to week mid. Closed the week below Y-1 and near midpoint.
Outlook Consolidation after tagging Y-2 is bearish. A test of B-1 is in play. If B-1 can hold this up, a bounce back up to B+2 is possible.
B-1 failing to act as support will give way to B-2 and below.
Lawrence's Comment
Recap
Euro in wait and see mode early part of the week for the outcome from Euro zone meeting. After that euro drifted higher but not by much. Closed the ...
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
Lawrence's Comment
Recap
3rd leg down resulted in a fight to defend of Y-1 which eventually led to a run for Y-0 test after Mrs. Yellen's comments. Since 2nd swing low was ...
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
Lawrence's Comment
Recap
Resistance zone worked out giving us a flush to below Y-1 in one slow drop. Y-1 turned into resistance and closed the week at week low.
Outlook
Y-2 is ...
Lawrence's Comment
Recap
Y-1 did not hold, Range expansion kicked in with Y-3 target tagged quickly. Y-3 rejected with Y-1 cleared with a gap. Y-0 capped the run and force a drop ...
AUDUSD Jul 13 to Jul 17 Outlook
Lawrence’s Comment
Momentum carried Aussie lower to Y-2 as expected. No spike low, just drift back up from Y-2 to week mid. Closed the week below Y-1 and near midpoint.
Outlook
Consolidation after tagging Y-2 is bearish. A test of B-1 is in play. If B-1 can hold this up, a bounce back up to B+2 is possible.
B-1 failing to act as support will give way to B-2 and below.
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