Recap Retested Y+1 as expected. That led to a quick selloff back down to Y-0 and stopped there. Aussie bounced back up to week high zone and stalled. Closed the week above midpoint and Y-0.
Outlook The first part of the expected swing, test of Y+1, was completed.
An interested reversal potential has developed. If Aussie can clear B+1 a push towards B+2 and then B+3 will be in play.
The 2nd part of the expected swing, a drop to Y-1, however, is still in effective as long as B+1 is acting as resistance.
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
Bull Putting is the concept of taking advantage of a strong up swing to catch some profit from the remaining part of the move. The idea is sound but most ...
AUDUSD Jul 29 to Aug 02 Outlook
Lawrence’s Comment
Retested Y+1 as expected. That led to a quick selloff back down to Y-0 and stopped there. Aussie bounced back up to week high zone and stalled. Closed the week above midpoint and Y-0.
Outlook
The first part of the expected swing, test of Y+1, was completed.
An interested reversal potential has developed. If Aussie can clear B+1 a push towards B+2 and then B+3 will be in play.
The 2nd part of the expected swing, a drop to Y-1, however, is still in effective as long as B+1 is acting as resistance.
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