Trading Edges That Last
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US Federal Reserve Open Market Committee (FOMC) made the announcement last Thursday that it is going to buy $40 billion MBS (mortgage backed securities) every month with no expiration date ...READ MOREFor 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 scheduleREAD MORELawrence's Comment Recap Euro broke below Y-0 and gave us Y-2 as expected. Nice surprise that it dropped straight down to Y-3. Closed the week near week low and around Y-3. Outlook Weekly reversal ...READ MOREWeekly Cycle Projection (AUDUSD) 2018-04-16Precog Vision – Forex 2023-1-5Intraday Cycle Projection (AUDUSD) 2017-10-12Intraday Cycle Projection (AUDUSD) 2022-06-303DP Odds Table (AUDUSD) 2022-11-233DP Odds Table (AUDUSD) 2021-05-27What does Fed Chairman, Mr. Bernanke, know thatPrecog Vision – Forex 2012-9-3Intraday Cycle Projection (AUDUSD) 2021-08-05EURUSD Nov 04 to Nov 08 Outlook
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AUDUSD Sep 09 to Sep 13 Outlook
Lawrence’s Comment
Took out 0.9 right from the beginning of the week. Then 1-2-3 buy gave us the breakout above Y+1 necessary for a run to Y+2. Aussie tagged Y+2 and consolidated around it since. Closed the week above Y+ 2 and near week high.
Outlook
The war-on / war-off effect fully messing with the price actions in Aussie. Bears were caught on the wrong side multiple times.
Most of the bears are cleaned out. Chart pattern suggests a pullback to B-0 is likely. I need to see a mini double top or 1-2-3 sell on hourly before I will commit to the sell side.
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