Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
AUDNZD – Breakout Pullback Setup, Staying Bullish | Aug 8
Chris Capre’s current live open price action and ichimoku trades: USDJPY, AUDCAD, SLV, AUS200
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AUDNZD – Big Winner vs NZD 50bps Rate Cut, Staying Long (1hr chart)
Price Action Context
While MT in a bear trend, ST the AUDNZD is a in a bull trend after bouncing off the key support near 1.0298, and then sky-rocketing after the surprise RBNZ 50bps cut. Notice the breakout pullback setup off of the prior ST highs near 1.0453 as the level held perfectly and has produced a decent bounce thus far.
ST I’m staying bullish and am expecting a move north to pass 1.06+. Traders not already long should look for pullbacks towards support for potential buying opportunities.
Key Support & Resistance Levels
R: 1.0545, 1.0615
S: 1.0454, 1.03
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