On December 4th, at 03:30 GMT, the RBA will make its rate decision and the markets expect a cut from 3.25% to 3.0%. The Australian dollar was very weak during the last few days compared to other risk-on currencies, so we need to keep in mind that a rate cut may already be calculated in market price. Therefore, despite a possible cut, AUD could spike higher and cause »buy the rumor sell the fact « reaction. Anyhow I have a bullish GBPAUD count and bullish AUDJPY pairs here which is obviously a different story for AUD. If AUD will fall after the announcement then GBPAUD will probably rise sharply, maybe even in wave three of three towards 1.5530. In such case we would be interested to buy fourth wave pull-back. GBPAUD-bearish count for AUD If AUD will gain significantly after the report, then AUDJPY should be on the radar, because GBPAUD will probably become invalid count. In such a case our focus will be a break higher, out of a fourth wave triangle. AUDJPY-bullish count for AUD Gregor Horvat Gregor Horvat Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power! View All Post By Gregor Horvat Forex News Today: Daily Trading News share Read Next AUD/USD: Trading the Australian GDP Dec 2012 Kenny Fisher 10 years On December 4th, at 03:30 GMT, the RBA will make its rate decision and the markets expect a cut from 3.25% to 3.0%. The Australian dollar was very weak during the last few days compared to other risk-on currencies, so we need to keep in mind that a rate cut may already be calculated in market price. Therefore, despite a possible cut, AUD could spike higher and cause »buy the rumor sell the fact « reaction. Anyhow I have a bullish GBPAUD count and bullish AUDJPY pairs here which is obviously a different story for AUD. If AUD will… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
