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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
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Trading Price Action and Pivot Points
  • AUDUSD Targeting Yearly Lows On Breakout Setup | May 7th 0 comments
    May 7, 2013 9:32 PM

    Hello Traders,

    Rumors out of various trading desks and houses is that Soros was selling the AU in anticipation of a rate cut. The floats are saying he pushed about a yard through three various asian brokers.

    If the rumors are true, its unlikely he'll put his foot off the gas, or pull out his position. add the fact traders are probably not keen on buying AUD's at this point, and further losses seem likely.

    So watch for breakout pullback setups using the chart below for the former support, now likely resistance and key level around 1.0220.

    (click to enlarge)

    Kind Regards,

    Chris Capre

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