Recap Pre-Brexit ramp up from Y+1 to normal breakout target of Y+3. Spike reversal from Y+3 gave us Y+1 and then Y-1. Closed the week near Y+1 and midpoint.
Outlook FBO against 0.75 long term resistance. Confirmation this week will point to swing top in place with more downside in coming weeks.
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Lawrence's Comment
Recap
Gapped above Y+1 to start the week but failed to hold above. As a result, a quick rush down to Y-0 and in turn opened the door to Y-1. ...
AUDUSD Jun 27 to Jul 01 Outlook
Lawrence’s Comment
Pre-Brexit ramp up from Y+1 to normal breakout target of Y+3. Spike reversal from Y+3 gave us Y+1 and then Y-1. Closed the week near Y+1 and midpoint.
Outlook
FBO against 0.75 long term resistance. Confirmation this week will point to swing top in place with more downside in coming weeks.
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