Recap Instead of a regular bottom, we got a flush first below Y-2. Then a mini double bottom on hourly started the short squeeze we’ve been looking for. After clearing Y-1, the target Y+1 was then in play. Closed the week above Y-0 and at the week high.
Outlook This week a test of Y+1 is very likely.
If it is cleared quickly, then a consolidation around B+1 within Y-0 to Y+1 is a signal of continuation run to B+2.
Lawrence's Comment
Recap
Y+1 resistance sent Cable back down to Y-1 as expected. Closed the week below Y-0 and midpoint.
Outlook
Inside week weak close is bearish. Breakout mode with B-0 cleared ...
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
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 Sep 10 to Sep 14 Outlook
Lawrence’s Comment
Instead of a regular bottom, we got a flush first below Y-2. Then a mini double bottom on hourly started the short squeeze we’ve been looking for. After clearing Y-1, the target Y+1 was then in play. Closed the week above Y-0 and at the week high.
Outlook
This week a test of Y+1 is very likely.
If it is cleared quickly, then a consolidation around B+1 within Y-0 to Y+1 is a signal of continuation run to B+2.
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