Recap Did not stop at the Y-0 resistance. Instead, formed a double top to break back down before Y-0. That ensured Y-1 to be retested. At 100% absolute range expansion, the low is formed. Closed the week near Y-0.
Outlook 1.07 and 1.05 are both rejected. No clear direction for aussie until after either side is taken out.
Lawrence's Comment
Recap
Y-1 failed to act as resistance giving us FBO against Y-1 and opened the door to Y+1. Y+1 cleared and Y+3 reversal breakout target tagged. Closed the week above ...
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
Bullish target above Y+1 tagged in the beginning of the week as expected. Then the surprise part was a quick run down breaking Y-1 in one go. That ...
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 Jun 20 to Jun 24 Outlook
Lawrence’s Comment
Did not stop at the Y-0 resistance. Instead, formed a double top to break back down before Y-0. That ensured Y-1 to be retested. At 100% absolute range expansion, the low is formed. Closed the week near Y-0.
Outlook
1.07 and 1.05 are both rejected. No clear direction for aussie until after either side is taken out.
Consolidation between Y-0 and Y-1 likely.
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