Recap Aussie found support at Y-1 and cleared Y-0 decisively. Y+1 was tagged and pulled back to Y-0 as support. Y+2 target was stopped short at the 0.89 round number. Selling resumed since. Closed the week below Y-0 and midpoint.
Outlook The initial rally last week played out as expected but it was not as explosive as I hope for. The weaknesses going into end of week has turned Y-0 / B-0 into strong resistance zone for a retest of the Y-1 low.
Only until Y-0 / B-0 zone turning into support that a swing long will stand a better chance.
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Lawrence's Comment
Recap
Aussie held previous week close and then bounced back up to resistance zone / channel top. Channel top confirmed as resistance with Y-1 in play. Y-0 resumed its role ...
Recap of last week Monthly structural price levels came into play. Failed in beginning of the week to hold above monthly initiation mid point + previous month high gave ...
Lawrence's Comment
Recap
Double top setup in place right from the start of the week. Test of Y-0 rejected giving us retest of Y-1 and gapped down to Y-2 and below. The ...
AUDUSD Oct 13 to Oct 17 Outlook
Lawrence’s Comment
Aussie found support at Y-1 and cleared Y-0 decisively. Y+1 was tagged and pulled back to Y-0 as support. Y+2 target was stopped short at the 0.89 round number. Selling resumed since. Closed the week below Y-0 and midpoint.
Outlook
The initial rally last week played out as expected but it was not as explosive as I hope for. The weaknesses going into end of week has turned Y-0 / B-0 into strong resistance zone for a retest of the Y-1 low.
Only until Y-0 / B-0 zone turning into support that a swing long will stand a better chance.
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