Recap Tighest range in several weeks. Tagged my upside target with slow drift up as expected. The reaction to that was like lightening strike and dropped Aussie lower. Closed the week near week low, above Y-0 and below midpoint.
Outlook Y+1, well 1.04 to be specific, was rejected. B-1 will likely be breached by early next week. If that happens, as long as B-0 acts as resistance, looking for B-3 / Y-1 as target.
Aussie is not reacting well to the fact that Gold failed to hold its ground. Watch gold closely for clues on Aussie this week.
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
Aussie failed to hold the Y-0 double bottom neckline and flushed down to where it started the up run. The low volume up drift back up to previous week ...
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
Bounced off the close of the week prior to fill the gap above. Then gapped up off news shock and rumors from Europe. ES sold off since and ...
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 acted as resistance initially but not strong enough to hold euro down. Clearing Y-0 gave way to retest Y+1. Closed the week near Y+1 and week high.
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AUDUSD Nov 05 to Nov 09 Outlook
Lawrence’s Comment
Tighest range in several weeks. Tagged my upside target with slow drift up as expected. The reaction to that was like lightening strike and dropped Aussie lower. Closed the week near week low, above Y-0 and below midpoint.
Outlook
Y+1, well 1.04 to be specific, was rejected. B-1 will likely be breached by early next week. If that happens, as long as B-0 acts as resistance, looking for B-3 / Y-1 as target.
Aussie is not reacting well to the fact that Gold failed to hold its ground. Watch gold closely for clues on Aussie this week.
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