Profit: $10.39 Total: $1,317.48
Did the markets finally answer the dollar’s prayers or is this a small tease to fool the dollar bulls. I’m not 100% sold on the dollar rally today because the fall in oil prices seem to be the catalyst for this chain reaction. The RBA also cut rates to 1.75% from 2% which caused a massive sell off in the AUD/USD. Although this dollar move seems promising, I need a bit more conviction to confirm this reversal.
I had a good time today shorting the AUD/USD along with a couple other dollar pairs. Today’s market was a great day for dollar to shine as oil prices fell dramatically. I’ll be watching the dollar levels closely and see if this reversal will continue for days on. If the dollar bulls show signs of strength, I’m back on the dollar bandwagon.