2nd Dec 2008 AUD & EUR/USD part3

AUD 15:45

Rate cut ann of 1% and I thought the AUD would have followed a similiar pattern of selling off....

Expectation that on 11am that the AUD would swing back into the pink filter....

Exit 6355 + 51


Up swing into the pink again and Short.....

6408.... (stops 6415 -7)

targets 41 and hold pink to pink.

But it's not selling off, so I think the AUD could push up slightly into the 5-day 50% level @ .6427

Note:- above the 5-day 50% level and AUD is moving back into the 3-day filter, which matches the monday low breakout:- resistance

Euro 15:45

Expectation of a rotation back into the 5-day 50% level.

It's above the blue filter, but no matching spiral levels to go long from.

Note:- Monday close below Monday's lows, so there is also an expectation that the Euro could continue down into Tuesday's lows

No trades