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.
Lawrence's Comment
Recap
Tight range actions around Y-1 at 50% range. Consolidation during quiet last week of the year. Closed the week below Y-1 and midpoint.
Outlook
Wait and see time for ...
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Lawrence's Comment
Recap
3800 resistance mentioned last week produced a mild pullback late in the week. Bounced from Y-0 after it was tested. Closed the week above Y-0 and below midpoint.
Outlook
Unlike Dow ...
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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