Picking Up Pennies Behind Steamrollers
The Ozzie RBA announced their interest rate decision early this morning when you seppo rats were still in deep slumber. Not much of a surprise move really – the expectation was 2% and that’s exactly what we got.
Now Skynard and his impetuous ilk hailing from their respective lairs down under seem to prefer doing the chicken dance in front of the Ozzie steam roller. Did anyone read my post yesterday on not taking risky setups in this volatile market phase? Dr. Kurtosis will make you guys his bitch one of these days. Why do I bother…
Now, as you know I myself enjoy preying on disorientated victims after the storm has passed. Yes, that’s right – I kick them while they’re down and I do it with pride. Excuse me – which part of Evil Speculator wasn’t clear to you?
Before we start let’s once again point out that all the AUD related setups below should not expose you to a loss of more than 1.5% of your account equity. In other words – if you take more than one please split one R between them. Now let’s see what we got on the menu this morning:
Here’s the AUD/NZD and it’s in a very interesting spot as the 25-day is being challenged. I’m currently long but will flip for a short if it drops through 1.118.
AUD/CHF – playing the bounce and my stop is below 0.7012. If I get my way I’ll be out near the 100-hour SMA.
Two more setups looming below the fold for my intrepid subs:
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You have been briefed – now have fun but keep it frosty. See you guys later this afternoon.