Recap As expected, broken to the down side first attempting to tag Y-2. The surprise was that a quick reversal happened before Y-2 was touched, pointing to the natural target of Y+1 in play. Rallied all the way to tag Y+1 and closed the week at the high zone.
Outlook Outside week confirming strength at Y-1 level. These buyers are much longer term players whose buying action at Y-2 to Y-1 shocked the shorter term players. As long as B-0 acts as support, B+2 is the next stop.
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
Whole week has been a struggle to find direction. At the end of the week although there is a selloff it did not drop to Y-1 implying hidden ...
AUDUSD May 30 to Jun 03 Outlook
Lawrence’s Comment
As expected, broken to the down side first attempting to tag Y-2. The surprise was that a quick reversal happened before Y-2 was touched, pointing to the natural target of Y+1 in play. Rallied all the way to tag Y+1 and closed the week at the high zone.
Outlook
Outside week confirming strength at Y-1 level. These buyers are much longer term players whose buying action at Y-2 to Y-1 shocked the shorter term players. As long as B-0 acts as support, B+2 is the next stop.
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