3/5/2011 RBA Rate Statement / Cash Rate (1730 HI time / 2230 EDT)
SPIKE / RETRACE
Started @ 1.0633
1st Peak @ 1.0643 – 1731 (1 min)
Reverse to 1.0597 – 1739 / 1740 (9 /10 min)
Notes: At its meeting today, the RBA decided to keep interest rates unchanged as growth is forecast to be slower than normal, but fears of another downturn have been pacified. This caused a small 10 tick spike, followed by a large 46 tick reversal. If using JOBB, you would have seen an initial dull reaction, but stay with it as the report is still breaking. You would fill long after 30 sec, then see 5 ticks at the max 10 sec later before it retraced. I would close out with a small profit.