Main » 2010 » August » 17 » Forex Signals - Intraday Strategy for USD / CAD 17/08/10
09:45 Forex Signals - Intraday Strategy for USD / CAD 17/08/10 | |
| A pair USD / CAD traded within the downtrend on the hourly chart. It shows that the rate of USD / CAD is trading below the moving average with period 55 per hour chart (the level of 1.0421), which generally helps to reduce prices in the short term. I recommend to open long positions after the breakdown of the results of hours of resistance at 1.0450 in order to increase the resistance level at 1.0476-83 and if it is the breakdown on the basis of hours to 1.0525. Stoploss if this strategy can be placed at the level of 1.0380. I recommend to open short positions after a breakdown on the basis of hours support at 1.0379 to reduce the level of support at 1.0356-48 and if it is the breakdown on the basis of hours to 1.0298. Stoploss if this strategy can be placed at the level of 1.0423. Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend to open positions up to an hour to avoid false breakouts. In the case of heavy traffic during the breakthrough technical figures, I recommend to wait for correction. The level, which was the resistance should be a strong support and it was near this level should open position in the direction of the breakdown. Analyst "Forex Analytics" Alex Sedyshev
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