Recap Aussie consolidated around the breakout zone mentioned last week first. Then moved to the downside confirming the weakness. Since then Y-0 acted as resistance and gave us a move down to almost B-1. Closed the week near week low and below Y-0.
Outlook Another inside week with average 4 hour range collapsed. Not quite a down channel in place. Everyone is waiting for something to jump onboard. Could be US government shutdown, could be something else.
Will be interested in breakout play above B-0 and below Y-1. Markets do not stay quiet like this for long.
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 30 to Oct 04 Outlook
Lawrence’s Comment
Aussie consolidated around the breakout zone mentioned last week first. Then moved to the downside confirming the weakness. Since then Y-0 acted as resistance and gave us a move down to almost B-1. Closed the week near week low and below Y-0.
Outlook
Another inside week with average 4 hour range collapsed. Not quite a down channel in place. Everyone is waiting for something to jump onboard. Could be US government shutdown, could be something else.
Will be interested in breakout play above B-0 and below Y-1. Markets do not stay quiet like this for long.
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