AUDUSD preparing for RBA decision

AUDUSD preparing for RBA decision

From forexlive.com

The Reseve Bank of Australia interest rate decision will be announced on Tuesday and the market is split on the expected outcome. Will they announce the second consecutive cut or will they refrain? When the decision is a bet red or black scenario, there can be a meaningful reaction from the market. However, it also increases the risk - before the details of the event are known. Remember, we are traders not gamblers. When the odds are a toss up, it is best to do your homework, set the targets above and below and look to trade if a bullish or bearish scenario is triggered. What would be a bearish scenario? For me, a ... (full story)

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Mar 2, 2015 4:26pm

When the decision is a bet red or black scenario, there can be a meaningful reaction from the market. However, it also increases the risk - before the details of the event are known. Remember, we are traders not gamblers

Vermillion

Mar 2, 2015 5:23pm

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If you want to short now, prepare to have potentially 80-100pips in losses as a whiplash/stop hunt following RBA announcements.

MM (market makers) LOVE to do this. Just look at all the banks indicted of currency manipulation in 2014 and 2015.

irongoose

Mar 2, 2015 4:38pm

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I'm bearish the Aussie but before entering a trade tonight I'd like to see the price go up to about .7800 on the Aud/Usd pair before entering a short. In other words I want to see the banksters make an effort to take out stops at that level first before running the price south, I'm bearish The Aussie even if they don't cut rates and if they don't that should send price higher creating a even better shorting opportunity.