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Dear All,
It's been some time since my last trading (which was disastrous by the way). It's a brand new month and time for me to try to beat the markets again. During this period that is indeed quite questionable and bold but I remain optimist nevertheless. My first trade for this month is the AUD/USD. I am short the pair and expect a drop in the near future. Let me shed some more light on this matter. The daily chart shows an instant drop, dating back to the last Friday. In pure technical terms, I see this sign as strongly bearish. The 10 day MA has already been crossed, with the 50 and 200 day being tested in the near future ( or at least I hope so). The RSI 14 also shows weakness in rising prices which adds another clue to the puzzle. I am short his pair as long as the price does not go further than 0.77. I think that is all for now and definitely will keep you posted about future maneuvers.
Kind Regards,
Georgi Georgiev
It's been some time since my last trading (which was disastrous by the way). It's a brand new month and time for me to try to beat the markets again. During this period that is indeed quite questionable and bold but I remain optimist nevertheless. My first trade for this month is the AUD/USD. I am short the pair and expect a drop in the near future. Let me shed some more light on this matter. The daily chart shows an instant drop, dating back to the last Friday. In pure technical terms, I see this sign as strongly bearish. The 10 day MA has already been crossed, with the 50 and 200 day being tested in the near future ( or at least I hope so). The RSI 14 also shows weakness in rising prices which adds another clue to the puzzle. I am short his pair as long as the price does not go further than 0.77. I think that is all for now and definitely will keep you posted about future maneuvers.
Kind Regards,
Georgi Georgiev
