Forex signals - intraday strategy on EUR / GBP 25/05/09
Pair EUR / GBP has formed a wedge to the time schedule. The course is located above the rolling average with a period of 55 hours on the schedule (the level of 0.8794), thus contributing to the prices in the short term.
I recommend to open long positions following the breakdown of resistance at 0.8832 on the basis of hours, in order to improve the resistance at 0.8853 and if it is punctured by 0.8889. Stoploss with this strategy could be to place at the level of 0.8805.
I recommend to open short positions after a puncture on the basis of hours of support at 0.8794, with the aim of further reducing the support level at 0.8770. Stoploss with this strategy could be to place at the level of 0.8820.
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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