Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades mostly the Asian Market.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

 

Overview

Today’s RBA Minutes left trader’s in no doubt what their next course of action is and that’s cutting interest rates. It looks like we’ll get the rate cut as early as June (next Month) as they see the combined weakness in inflation and employment as a major problem for the Australian economy going forward.

Current Technicals: Down

Hourly Resistance: 0.6940

AUDUSD HOURLY CHART – Current Price 0.6886

Current Fundamentals: Down

RBA Sentiment: Down

Geopolitical Issues: Down

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 0.6935 with a target at 0.6700.

Alternative Scenario

Above 0.6935 we should see a quick stop loss run towards 0.7000 but that will be very short-lived.

Execution Software

If trading the technical levels: Trendline Trader

If trading live: T-Rex Live Trader or Guerrilla Trader

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