AUDUSD Oct 14 to Oct 18 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation around Y+1 / previous week close area. Bounded within 50% previous week range. Closed the week at Y+1 and above midpoint.

Outlook
Fought very hard to hold the Y+1 level but still no clear winner yet. Can’t blame them because gold collapsed back down and usual Aussie is forced to follow. Obviously, lots of hope built up in Aussie that gold would go higher.

A rounding top in the making if B-0 fails to hold this up. Target below B-2.

As long as B-0 is acting as support, looking for B+2 very soon.

Share

  • You must be logged in to comment. Log in