Main » 2011 » August » 24 » Forex Signals - intraday strategy USD / CAD 24/08/2011
10:24 Forex Signals - intraday strategy USD / CAD 24/08/2011 | |
| Pair USD / CAD traded within a neutral trend on the hourly chart. It shows that the rate of USD / CAD is trading below the moving average with period 55 on the hourly chart (the level of 0.9890), which generally contributes to lower prices in the short term. I recommend to open long positions after the break up hour resistance at 0.9905 in order to increase the resistance level at 0.9927 and if it is the breakdown on the basis of hours to 0.9954. Stop-loss for a given strategy can be placed at 0.9862. I recommend to open short positions after the break up hour support at 0.9868 to reduce to the support at 0.9847-36 and in case of breakdown up to an hour to 0.9813. Stop-loss for a given strategy can be placed at 0.9910. 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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