17:25Forex Signals on EUR / USD on 21/10/2013
The EUR / USD is trading on the hourly chart within a neutral trend . It shows that the EUR / USD is trading above the moving average with period 55 on the hourly chart (level 1.3664 ) , which has to raise prices in the short term.
The signal for the opening of the long position will sample the results of hours of resistance at 1.3713 in order to increase the resistance level at 1.3743 and in case of breakdown up to an hour to 1.3771 . Stoploss for this strategy can be placed at 1.3670.
The signal for the opening short position will sample the results of hours of support at 1.3653 to decline to the support at 1.3626 in case of breakdown up to an hour 1.3599 . Stoploss for this strategy can be placed at 1.3705 .
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 a strong movement in the breakout technical figures , I 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.
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