Recap Did not get the upside breakout I am looking for. Aussie failed to push higher and slided down to below Y-1. Pullback failed to clear Y-0 and selloff from there. Closed the week below Y-1 and near week low.
Outlook Gold has been in a wild ride last week and that prevented Aussie from forming a base.
Gold is sitting at its long term support zone right now. If it fails to hold this current level there is no support in sight within $100. So pay attention on gold for clues if Aussie is going to bottom out this week.
Lawrence's Comment
Recap
Gapped below 1.32 and never made it back above. End of week dumping led to normal target Y-2. Closed the week near Y-2 and week low.
Outlook
More down ...
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
AUDUSD Mar 04 to Mar 08 Outlook
Lawrence’s Comment
Did not get the upside breakout I am looking for. Aussie failed to push higher and slided down to below Y-1. Pullback failed to clear Y-0 and selloff from there. Closed the week below Y-1 and near week low.
Outlook
Gold has been in a wild ride last week and that prevented Aussie from forming a base.
Gold is sitting at its long term support zone right now. If it fails to hold this current level there is no support in sight within $100. So pay attention on gold for clues if Aussie is going to bottom out this week.
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