Main » 2011 » August » 24 » Forex Signals - intraday strategy on EUR / JPY 24/08/2011
10:24 Forex Signals - intraday strategy on EUR / JPY 24/08/2011 | |
| Pair EUR / JPY on the hourly chart is trading under a neutral trend. It shows that the rate of EUR / JPY is trading below the moving average with period 55 on the hourly chart (level 110.60), which in general has to depreciate in the short term. I recommend to open long positions after the break up hour resistance at 110.78 in order to increase the resistance level at 111.05 and if it is the breakdown on the basis of hours to 111.34. Stop-loss for a given strategy can be placed at 110.44. I recommend to open short positions in the breakdown of support at 110.23 up to an hour, to reduce to the support at 109.99 and in case of breakdown up to an hour to 109.73. Stop-loss for a given strategy can be placed at 110.58. 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
| |
|
| |
| Total comments: 0 | |
Moscow Time
New York Time
London Time
Tokyo Time