18:13Forex Signals on euro / dollar on 06/03/2014
|Forex Signals on euro / dollar on 06/03/2014|
The euro / dollar 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 1.3736 ) , which has to raise prices in the short term.
Signal for a long position will be breakdown up to an hour of resistance at 1.3744 in order to increase the resistance level at 1.3766 and in case of breakdown up to an hour to 1.3791 . Stoploss for this strategy can be placed at 1.3705 .
Signal for a short position would be the breakdown on the basis of hours of support at 1.3715 to decline to the support at 1.3692 and in case of breakdown up to an hour 1.3666 . Stoploss for this strategy can be placed at 1.3755 .
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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