The RBA will announce its rate decision at 2.30pm AEST
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The RBA will announce its rate decision at 2.30pm AEST
hI Peat,
Yes that could be interesting,Re my long i held for 4 hrs but wasn't going anywhere,so exited
for a small loss on 1 lot
cheers
roddy
better a small loss than a large one Roddy
The central bank today left its key official rate unchanged 7.25%, as widely expected, at its regular monthly board meeting.
Wow. Long term trend change or a mere correction? I thought my feed was buggy but no, it has fallen 500 pips since I last checked.
>>>>>>>>>>>>
Yes, quite a move......maybe 9852 was the upper limit for a while.
Anyway I think we should see a reversal of sorts between now and .9000,
so there could be an little opp against the current trend.
rgds - arco
What does your fibonacci/patterns say...I'm keen to go long now and take advantage of the commodity retracement. Some overhead resistance at .9000.
Hello AMR
You don't say if this is a short term trade that you have in mind.
My present thoughts are for slightly higher to 8820-50, then a potential retrace south. The structure looks a bit like a Bear Flag on the 1 hr.
Fill me in on your idea - I'll see if I can be more helpful.
rgds - arco
hi amr , im with arco and expect a new low for aus quite soon
what was interesting with this counter rally ( dollar weakness) was the fact that the kiwi
was first out the blocks and therefore could be the first to signal renewed dollar strength
so im positioning to short but not yet
Was actually looking for a longer term trade...I think the USD needs to retest the lows eventually. I was thinking it has simply fallen too hard and fast like back during when subprime first broke out in August 07, but heck that's not strictly TA.
Hello AMR
Well the action reached a max of 8813 and has dropped as expected -90 pips so far.
I'm not really a long term player, and long term is not always clear unless I can see a definite pattern in the charts.
There are no BFs or Gartley on the longer term charts, but from the current action I think there is more chance of downside certainly for medium term.
There could be some support coming in around 8576 (Jan low) and there is also an uptrend line around 8300-8350, so lets see what happens if it drops to those levels.
rgds - arco