It has been somewhat slow day, at least for this type of trades I document here. I spent most of the day watching AUD and NZD crosses, as that is where there was some activity, but I don’t see the kind of set ups I’m looking for. My intended trade in GBP-JPY didn’t happen. Regardless, I still maintain buy order, only it was moved.

Beast is not moving as violently as before, but it is still creeping down. Order was moved to 193.47, with a target of 195.00. There is one thing to be aware of. The Official Bank Rate will be decided tomorrow, so there is sure to be some reaction after the announcement. No change is the expected outcome. Well, I don’t bother guessing what the decision will be and the reaction to it, and these are two completely separate matters. I’m sure there will be plenty of people with wonderful explanations about what happened- after the fact. That’s what happens a lot. 

Mike K.