Recap FBO last week gave us the drop down to near Y-2 until 100% absolute range expansion was tagged. Closed the week below Y-1 and midpoint.
Outlook Y-2 / B-1 support will force a retest of the 0.77 breakdown crime scene. Until we have a clean break of Y-2, Aussie is simply moving back into the previous consolidation area for more sideway actions.
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
The thin up channel broken to the downside from a FBO against Y+1. Almost tagged Y-2 target mentioned last week. Easiest play of the week. Closed the week near ...
AUDUSD May 02 to May 06 Outlook
Lawrence’s Comment
FBO last week gave us the drop down to near Y-2 until 100% absolute range expansion was tagged. Closed the week below Y-1 and midpoint.
Outlook
Y-2 / B-1 support will force a retest of the 0.77 breakdown crime scene. Until we have a clean break of Y-2, Aussie is simply moving back into the previous consolidation area for more sideway actions.
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