Recap Y-0 did not hold the price up yet the flush could not breach Y-1 either. The reversal from below Y-0 gave up before Y+1 was tagged and stalled back down to Y-0. Closed the week above Y-0 and midpoint.
Outlook Very odd price actions. 3rd week in a row with slowly rising midpoint. Inside week too. A break of B-1 will induce a very strong selloff to B-3.
However, since the uptrend over the past few weeks is not broken, the more likely scenario is a push towards Y+1 first.
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 acting as support, rallied to Y+1 as expected. Without any significant selloff formation pulled back to slightly higher than Y-0 and took off again, this implied ...
Lawrence's Comment
Recap
Y-1 and below proven strong support led to strong rally back up to the crime scene before the break down from the week before last. Since then Aussie stalled. ...
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
AUDUSD Oct 29 to Nov 02 Outlook
Lawrence’s Comment
Y-0 did not hold the price up yet the flush could not breach Y-1 either. The reversal from below Y-0 gave up before Y+1 was tagged and stalled back down to Y-0. Closed the week above Y-0 and midpoint.
Outlook
Very odd price actions. 3rd week in a row with slowly rising midpoint. Inside week too. A break of B-1 will induce a very strong selloff to B-3.
However, since the uptrend over the past few weeks is not broken, the more likely scenario is a push towards Y+1 first.
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