Descending wedge
Updated
This morning RBA hold interest rate.
That would mean major banks rate increase is as good as RBA raising rates itself.
The upward price movement post RBA announcement seems to complete a descending wedge.
A possible upward breakout.
That would mean major banks rate increase is as good as RBA raising rates itself.
The upward price movement post RBA announcement seems to complete a descending wedge.
A possible upward breakout.
Note
MNI: **CHINA OCT EXPORTS -3.6% Y/Y VS MEDIAN -3.7% Y/Y CHINA OCT IMPORTS -16.0% Y/Y VS MNI MEDIAN -15.8% Y/Y CHINA CUSTOMS GIVES EXPORT/IMPORT NUMBERS IN YUAN TERMS (news on 8/11). Looks like a gradual improvement of export from China. Will keep close on price movement of iron ore.Trade active
Going SHORT after recent bounce from AUD job report.Trade closed manually
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