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Hello Traders,
As expected, the ECB kept the rates unchanged most likely due to the upcoming European elections. However, I did open a new short trade related to the AUD USD. Let me show you my arguments, All the MAs are broken at this moment. Some of you would even go further as saying a double top. I do not trade the technical patterns and therefore will restrain from mentioning them. The RSI 14 is also decreasing which also supports the current bearish trend. As I have mentioned earlier, I believe the price to go further down to 0.74, which is my first target. If this will happen, is a matter of time. This is it for now.
Best Wishes,
Georgi
As expected, the ECB kept the rates unchanged most likely due to the upcoming European elections. However, I did open a new short trade related to the AUD USD. Let me show you my arguments, All the MAs are broken at this moment. Some of you would even go further as saying a double top. I do not trade the technical patterns and therefore will restrain from mentioning them. The RSI 14 is also decreasing which also supports the current bearish trend. As I have mentioned earlier, I believe the price to go further down to 0.74, which is my first target. If this will happen, is a matter of time. This is it for now.
Best Wishes,
Georgi
