Forex signals - intraday strategy on EUR / USD 22/05/09
Pair EUR / USD traded in the ascending price channel in the time schedule. It shows that the rate of EUR / USD traded above the moving average with a period of 55 hours on the schedule (the level of 1.3784), which has to raise prices in the short term.
To encourage players to increase the open long positions after a puncture on the basis of hours of resistance at 1.3954, with the aim of improving the resistance at 1.4030. Stoploss if this strategy can be placed at the level of 1.3904.
For players on the decline, I recommend the open short position in the breakdown of support at 1.3873 on the basis of hours, with the aim of reducing the support level at 1.3808 (but I recommend to record profits in the area of 1.3830-35). Stoploss if this strategy can be placed at the level of 1.3929.
Given that the moving average and the location of boundaries of the technical pieces as time goes, you need to schedule time to adjust their status. I also recommend that the open positions on the basis of hours, to avoid false breakthroughs.
In the case of heavy traffic, with breakthrough technology figures, I recommend to wait for correction. That level, which was resistance to become strong support and it was near this level should be open attitude towards the puncture.
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