AB=CD pattern on the 4-hour chart. Buy at 0.8965 which is 127% fib extension of BC and exactly at the support line (blue line).

Buy: 0.8965
Stop: 0.8910
Target: 0.9170 / 0.9315
Move your stop to breakeven on 60pips profit or when it hits 0.9050.
Disclaimer:
Foreign exchange trading and investment in derivatives can be very speculative and may result in losses [...]

The Reserve Bank of Australia (RBA) raised the cash rate to 3.5% on Monday last week, as expected by analysts. A few hours before the actual announcement, I thought that if true, the annoucement should obviously make the currency pair a buy, right? Right, but not on the very minute the announcement was made. It [...]