Recap Aussie tried to hold above Y+1 but failed. That opened the door to Y-1 retest. Got the retest done and bounced off since. Closed the week above midpoint and Y-0.
Outlook 2nd reject of Y-1 / B-1 points to potential important bottom in place. If Aussie can clear B+1 in 1 go we have double bottom in place with target of B+3.
Lawrence's Comment
Recap
Quiet start like other pairs until FOMC news shock. Y+2 usual upside target blocked the upswing. Closed the week above Y-0 and below midpoint.
Outlook
Loonie rejected the upside decisively.As long ...
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
ES FBO against Y-1 forced a run back up to Y-0. Y-0 resistance dropped ES back down to neckline of 1-2-3 buy on 30-min. ES rallied from that support ...
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
Rising wedge broken yet no selloff. Consolidated above Y-0 and drifted higher. Breakout upside instead and tagged Y+2 in 1 go. Stalled from there and week midpoint acted as ...
AUDUSD May 06 to May 10 Outlook
Lawrence’s Comment
Aussie tried to hold above Y+1 but failed. That opened the door to Y-1 retest. Got the retest done and bounced off since. Closed the week above midpoint and Y-0.
Outlook
2nd reject of Y-1 / B-1 points to potential important bottom in place. If Aussie can clear B+1 in 1 go we have double bottom in place with target of B+3.
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