Recap The less likely scenario happened. Free ride from Y-0 to Y-2. Closed the week above Y-1.
Outlook The reaction at B-0 points to a retest of B-1. Congestion within B-0 to B-1 is expected until either one is taken out. The likely breakout direction is down and Y-3 to B-2 is in play in later part of the week.
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
Consolidation around prior week close as expected. Even the rush to Y+1 could not clear it. Closed the week above Y-0 and below mipoint.
Outlook
Post Thanksgiving bias points to a ...
AUDUSD May 09 to May 13 Outlook
Lawrence’s Comment
The less likely scenario happened. Free ride from Y-0 to Y-2. Closed the week above Y-1.
Outlook
The reaction at B-0 points to a retest of B-1. Congestion within B-0 to B-1 is expected until either one is taken out.
The likely breakout direction is down and Y-3 to B-2 is in play in later part of the week.
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