AUD/USD

not yet but i am now

Oct. 20 (Bloomberg) -- Australia’s central bank said the risks of keeping borrowing costs at a 49-year low, including boosting inflation and causing economic “imbalances,” prompted policy makers to raise the benchmark rate two weeks ago.
A “very expansionary setting of policy was no longer necessary, and possibly imprudent,” policy makers said in minutes of their Oct. 6 meeting, released today in Sydney. The risks in waiting to raise borrowing costs “had increased.”
Central bank Governor Glenn Stevens and his board raised the benchmark rate by a quarter percentage point to 3.25 percent and signaled further increases as soon as next month. Keeping interest rates at “very low levels” for an extended period could threaten the bank’s goal of keeping inflation between 2 percent and 3 percent on average, today’s minutes said.
“Underlying inflation was still, on the latest data, above the target and, while the current forecasts suggested it would fall in the coming year, the expected trough in inflation was significantly higher than earlier thought,” the bank said.
By 2011, inflation could be rising again, the minutes added.
The Australian dollar rose to 93.11 U.S. cents at 11:32 a.m. in Sydney from 92.76 cents before the central bank’s minutes were released. The two-year government bond yield gained 3 basis points, or 0.03 percentage point, to 4.87 percent.
Investors are certain Stevens will raise the benchmark rate by at least another quarter point on Nov. 3, according to Bloomberg calculations based on interbank futures on the Sydney Futures Exchange. Chances of a half-point increase next month were 26 percent, the futures showed at 8:36 a.m. today.
Economic Imbalances
While policy makers discussed the risk of acting prematurely, they also said “very expansionary policy could result in the build-up of other imbalances in the economy, which would ultimately be detrimental to economic growth.”

Closed all longs at 93.03. Waiting for an entry again to go long..... This part of this business is boaring....

I got in 20 seconds before the spread and will let it ride.

Oct. 20 (Bloomberg) -- Australia’s central bank said the risks of keeping borrowing costs at a 49-year low, including boosting inflation and causing economic “imbalances,” prompted policy makers to raise the benchmark rate two weeks ago.

now that nice, wish that 100 dollar per pip

lunch time boys and girls , market very slow ATM

Things are slow but for now the dollar will continue to slide. Today won't be the day the market decides to reverse the yearly trend.

What concerns me is what will happen when the DOW tanks - and it will plummet from these levels.

Nice trades Ben

Well the 78.6% fib (USDX value 74.82) is looking good to me at the moment. Might get a bounce there (when we get there)

USDX Weekly

How would one know if the Dow is going to drop these days? If it does then well and good change your position in the market. Thats the beauty of CFDs. But for now just enjoy the gracious upstream.

Enjoying the gracious upstream for awhile.

Courstesy of Elliot wave

The McClellan Oscillator (ratio adjusted for issues traded), which measures breadth’s momentum, is flashing a major “stop” sign for the market’s advance. A significant divergence is present relative to the rise from September 16, when the S&P DSI (trade-futures.com) hit its extreme of 92 percent bulls. Observe how the initial rise from the March 9 low coincided with the very strong “kick-off” reading in the oscillator. The major rally leg that started on July 8-10 resulted in a lower high in the oscillator. An even lower high was recorded on September 16 and the most recent rise from October 2 has coincided with the weakest rise in the McClellan oscillator since Primary wave 2 (circle) started. The Summation index, which is not shown on this chart, remains beneath its 21-day moving average and that average itself has rolled over from a lower high and started to decline. In sum: the upside momentum of the market’s breadth appears to be taking its last breath and should soon rollover. With fewer stocks rising with the price indexes, the rally should soon reach its exhaustion point.

http://www.elliottwave.com/chartfold...axes101909.gif

Nice trade RX

I hate Asian session even news event can't push very far, wait till Europe opens perhaps they will push this pair past 9300 on the meeting report that false out 9300 couple hours ago.

Charts are dead flay at around the .85 - .90. Cant make a decision eitherway. As I am going out soon and dont want to be left behind incase if it takes off, I am going to go long with a SL soon. I hope to come back to be surprised ( again).

I'm watching E/U on 2nd monitor. A break of 1.50 and off we go lads.

So who here thinks The Fed's will surprise the world and raise rates next month? Igniting a huge rally in the USD

No reaso for them to do so.

I don't think so.
Borrow from the Fed at zero and lend to the treasury or fed guaranteed mortgage borrowers for a profit. What a great racket, with the bills sent to the public if it blows up. It is a guaranteed carry trade.
And goldman sachs made 10 bil trading with the free money.
No, the 0% gravy train will continue.

A run down to the 9260's could mean a rounded top forming.
Buy limits then set at 9200.

If not then buy limits set at 9270.