Trading Edges That Last
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Lawrence's Comment Recap Rally from higher low support trendline from past 2 weeks back up to Y+1 and then breakout to the upside target. As expected the breakout could not last and ...READ MOREFor 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 scheduleREAD MORELawrence's Comment Recap Bear flag upside breakout is a very powerful formation. It is rare thus most people reacted the wrong way in handling the situation. That's exactly what we've got last ...READ MOREFor 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 scheduleREAD MOREIntraday Cycle Projection (AUDUSD) 2019-01-29Precog Vision – Forex 2014-6-11Precog Vision – Forex 2013-10-21EURUSD Jun 03 to Jun 07 OutlookIntraday Cycle Projection (AUDUSD) 2021-03-153DP Odds Table (AUDUSD) 2017-10-11Precog Vision – Forex 2019-10-7Dow 30 Sep 16 to Sep 20 OutlookPrecog Vision – Forex 2019-1-7Weekly Cycle Projection (AUDUSD) 2016-12-19
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AUDUSD May 21 to May 25 Outlook
Lawrence’s Comment
No quick drop and bounce. Just slow motion selloff all the way. Paused at Y-2 but failed to bounce at all. Ended the week after tagging Y-3 and closed near week low.
Outlook
We are seeing a very rare type of breakdown selloff where longs do not give up at all at every lower support level. Everyone is trying to trade out of the drop (i.e. averaging down). This is not a good sign.
Long term basis I will not be comfortable going long until after Aussie can find support around 1.0 area.
For next week, a bounce points to a test of B-0 and failing to clear that points to B-2 in play.
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