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.
Lawrence's Comment
Recap
As oppose to holding above Y-0. Canadian dollar moved with its other metal currency pairs gaining strength over USD.
The failure to hold above Y-0 points to the ...
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
Inside week. Y-1 tested and bounced off. Rallied to almost Y+1 and stalled. Closed the week near Y-1.
Outlook
End of week selloff was driven by news. US dollar ...
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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