Recap Tagged target right at the start of the week and bounced. That opened the door to Y-2 as it failed to pop above the resistance area stated last week. Y-2 tagged and closed the week near its low and Y-2.
Outlook Closed right at critical price level. This coming week will determine if Aussie can snap out of this down trend.
A flush to B-2 and quickly snap back above B-1 will set the stage for rally back up to B+1 and B+2.
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
Y-0 did not act as resistance after open gave us a clue that it would not hold on 2nd try. Into mid week, Y-0 cleared and gave us Y+1 ...
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 May 14 to May 18 Outlook
Lawrence’s Comment
Tagged target right at the start of the week and bounced. That opened the door to Y-2 as it failed to pop above the resistance area stated last week. Y-2 tagged and closed the week near its low and Y-2.
Outlook
Closed right at critical price level. This coming week will determine if Aussie can snap out of this down trend.
A flush to B-2 and quickly snap back above B-1 will set the stage for rally back up to B+1 and B+2.
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