Main » 2011 » August » 23 » Forex Signals - intraday strategy for AUD / USD 23/08/2011
16:33 Forex Signals - intraday strategy for AUD / USD 23/08/2011 | |
| The AUD / USD traded as part of the upward trend on the hourly chart. It shows that the rate of AUD / USD is trading above the moving average with period 55 on the hourly chart (1.0436 level) that generally contributes to the prices in the short term. I recommend to open long positions after the break up hour resistance at 1.0519 in order to increase the resistance level at 1.0561 in the case of its breakdown to 1.0600. Stop-loss for a given strategy can be placed at 1.0460. I recommend to open short positions in case of breakdown of support at 1.0432 on the basis of hours, to reduce to the support at 1.0388-80 and in case of breakdown up to an hour to the support at 1.0346. Stop-loss for a given strategy can be placed at 1.0485. Given that the moving average and the location of the boundaries of technical figures over time, moves to the hourly chart to adjust their status. I also recommend the open position up to an hour to avoid false breakouts. In the case of heavy traffic at the break of technical figures, I would recommend to wait for the correction. That level, which was the resistance should be strongly supported and it was near this level should open position in the direction of the breakdown. Analyst "Forex Analytics" Alex Sedyshev
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