17:15Forex signals on the euro / dollar on 20/02/2014
|Forex signals on the euro / dollar on 20/02/2014|
The euro / dollar is trading on the hourly chart within a downtrend . It shows that the EUR / USD is trading below the moving average with period 55 on the hourly chart (level 1.3742 ) , which has reduced prices in the short term.
Signal for a long position will be breakdown up to an hour of resistance at 1.3707 in order to increase the resistance level at 1.3728 and in case of breakdown up to an hour to 1.3761-69 . Stoploss for this strategy can be placed at 1.3677 .
Signal for a short position would be the breakdown on the basis of hours of support at 1.3682 to decline to the support at 1.3658 and in case of breakdown up to an hour 1.3635 . Stoploss for this strategy can be placed at 1.3715 .
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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