Forex Free Signals - Intraday Strategy for AUD / USD 05/07/10

Forex Free Signals - Intraday Strategy for AUD / USD 05/07/10
A pair AUD / USD is trading within the downtrend on the hourly chart. It shows that the rate of AUD / USD is trading below the moving average with period 55 on the hourly chart (the level of 0.8455), which generally helps to reduce prices in the short term.

I recommend to open long positions after the breakdown of the results of hours of resistance at 0.8514 in order to increase the resistance level at 0.8558 in the case of the breakdown of 0.8609. Stoploss if this strategy can be placed at the level of 0.8455.

I recommend to open short positions in case of breakdown of support at 0.8421 on the basis of hours, with the aim of reducing the support level at 0.8380 in the case of breakdown up to an hour for support at 0.8350-26. Stoploss if this strategy can be placed at the level of 0.8485.

Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend to open positions up to an hour in order to avoid false breakouts.


In the case of heavy traffic during the breakthrough technical figures, I recommend to wait for correction. The level, which was the resistance should be a strong support and it was near this level should open position in the direction of the breakdown.