Update on 31 Oct 2012 Post

Update:

2/11/2012 - Profit currently in negative territory

AUD rose due to 

1. Improvement in China's manufacturing data.
2. Greater expectation that interest rate will stay the same (i.e. will not be cut)

RBA will announce interest rate decision on 6/11/2012

From the chart, it appears that the AUD/USD currency is consolidating, and waiting for the upcoming news on Tuesday. If RBA announce a interest rate cut, the AUD/USD should fall.

31 Oct 2012 AUD/USD FX Trade

My Trade as at 31/10/2012

Short AUD/USD

Sold at 1.03774

Profit Target: 1.02528

Stop Loss: 1.04189

Time Frame: 10 days