Lawrence's Comment
Recap
NQ wild swings between previous week close and Y+1. Broke out upside but failed to stay above. That opened the door back down to Y-0. NQ finally catch up ...
Lawrence's Comment
Recap
Gapped above Y+1 on Monday and closed below. All out selloff induced until 100% absolute range expansion right above Y-1. NQ then tried very hard to produce ...
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Lawrence's Comment
Recap
Previous week close acted as support gave us a clean run up to Y+1 and then 100% absolute range expansion. Closed the week near Y+1 and above midpoint.
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AUDUSD May 19 to May 23 Outlook
Lawrence’s Comment
Consolidation around previous week close as expected. 50% range. Closed the week above Y-0 and near midpoint.
Outlook
The consolidation exposed the weaknesses in Aussie as the reaction to Y+1 was very strong.
A longer pullback is probably in play if Y+1 / B+1 caps the upside. Downside target around B-2.
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