Recap Gap up early in the week failed to push above Y+1. Formed a double top and sold off from there. Flushed to Y-2 as expected. Bounced quickly back to Y-1. Closed the week at Y-1.
Outlook Got the flush to Y-2 and the snap back up to Y-1. But it happened late in the week making it not possible to develop the bounce further.
Early next week as long as Y-1 acts as support, a run to B+1 is likely.
Potential long term bottom in the making. Need coming week to confirm.
Lawrence's Comment
Recap
ES followed Dow and pulled an op ex 2-way play on the players. Closed the week near Y-0 and midpoint. To learn more about op ex weeks, read my ...
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
Lawrence's Comment
Recap
Y-1 failed to act as support thus turning Y-0 into resistance zone. The pair then dropped from Y-0 down to Y-2 and closed the week there.
Outlook
Uptrend in Aussie ...
AUDUSD Jun 04 to Jun 08 Outlook
Lawrence’s Comment
Gap up early in the week failed to push above Y+1. Formed a double top and sold off from there. Flushed to Y-2 as expected. Bounced quickly back to Y-1. Closed the week at Y-1.
Outlook
Got the flush to Y-2 and the snap back up to Y-1. But it happened late in the week making it not possible to develop the bounce further.
Early next week as long as Y-1 acts as support, a run to B+1 is likely.
Potential long term bottom in the making. Need coming week to confirm.
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