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Monday, November 2, 2009

Buy the Rumor, Sell the News...

Perfect example. With the .25% rate already 'baked in' we saw the AUDUSD 'throw up in it's mouth' a little.

I'm keeping the stop in order to accommodate volatility. Hopefully we'll see a leveling and then some smoother price action (upwards) to come.

A clean break after some pressure at .9150 would be a good sign. I'd look for that are to become support after as well, which would be a good time to move the stop & take some risk off the table.

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Interesting ACM gadget