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Lawrence's Comment Recap No pullback. Just a pause below Y+1 and then popped higher. Closed the week above Y+1 and near week high. Outlook As mentioned last week, as long as there is no ...READ MOREContentReviewEuro Too Weak to Find a BottomS&P Correction ContinuesGold Taking a PauseBig Picture SummaryReviewEuro continue to print lower lows as expected.S&P break of 2940 gave us the drop expected. Target ...READ MORENasdaq 100 Sep 23 to Sep 27 OutlookIntraday Cycle Projection (AUDUSD) 2011-07-26EURUSD Mar 28 to Apr 01 OutlookIntraday Cycle Projection (AUDUSD) 2017-03-27AUDUSD Mar 25 to Mar 29 OutlookIntraday Cycle Projection (AUDUSD) 2013-03-13Nasdaq 100 May 01 to May 05 OutlookGBPUSD May 14 to May 18 OutlookMBO Issue 94 (Oct 2019) The ShowdownIntraday Cycle Projection (AUDUSD) 2018-06-13
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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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