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
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
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 ...
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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