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.

EUR/USD Technical Analysis. Support And Resistance Line For July; 5/2010.

In theory, after a strong upward movement like 2/07, usually EUR/USD must be going to downside first into 23.6% Fibs (1.2455); or 38.2% Fibs (1.2404) and maximal at 48.6% Fibs (1.2369) before this pair continues its strong upward motion. However if this pair can break 48.6% Fibs, the EUR/USD will continue to look for another support at 68.5% Fibs (1.2300) or 78.6% Fibs (1.2266). If this happens it means the upward movement of this pair will end and this pair seems start coming into a ranging situation again. Please pay attention to this day ; US Market will release Non-Farm Payrolls and Unemployment Rate reports; please take care for trade this day.
And this is the important intraday levels for this pair today:
Breakout Buy level : 1.2571.
Strong Resistance : 1.2564.
Original Resistance : 1.2552.
Inner Sell Area : 1.2540.
Target Inner Area : 1.2510.
Inner Buy Area : 1.2480.
Original Support : 1.2468.
Strong Support : 1.2456.
Breakout Sell level : 1.2448.

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Free Forex signals on 05/07/2010

EUR/USD intraday: turning down.
Pivot: 1.258
Our preference: Short positions below 1.258 with targets @ 1.2525 & 1.248 in extension.
Alternative scenario: Above 1.258 look for further upside with 1.261 & 1.265 as targets.
Comment: The pair should post a down move as the RSI is turning down.

GBP/USD intraday: expect 1.523.
Pivot: 1.515
Our preference: Long positions above 1.515 with targets @ 1.523 & 1.5285 in extension.
Alternative scenario: Below 1.515 look for further downside with 1.51 & 1.505 as targets.
Comment: the pair is standing above its support, the RSI lacks downward momentum.

USD/CHF intraday: capped by a negative trend line.
Pivot: 1.07
Our preference: Short positions below 1.07 with targets @ 1.058 & 1.05 in extension.
Alternative scenario: Above 1.07 look for further upside with 1.075 & 1.079 as targets.
Comment: the pair remains capped by a MT declining trend line.

USD/JPY intraday: the downside prevails.
Pivot: 88.25
Our preference: Short positions below 88.25 with targets @ 87.35 & 86.95 in extension.
Alternative scenario: Above 88.25 look for further upside with 88.75 & 89.25 as targets.
Comment: the pair remains capped by a declining trend line, the RSI is mixed.

USD/CAD intraday: continuation of the rebound.
Pivot: 1.061
Our preference: Long positions above 1.061 with targets @ 1.068 & 1.072 in extension.
Alternative scenario: Below 1.061 look for further downside with 1.0555 & 1.053 as targets.
Comment: the pair has struck against its channel support, the RSI is mixed.

AUD/USD intraday: under pressure.
Pivot: 0.845
Our preference: Short positions below 0.845 with targets @ 0.84 & 0.8315 in extension.
Alternative scenario: Above 0.845 look for further upside with 0.851 & 0.855 as targets.
Comment: the pair has struck against its new resistance and should post a further weakness.

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Forex forecast for July of european currency eur/usd - For free!

At June european currency and in particular eur/usd reached minimum since 2005 level, but to closing the month begin be corrected, formed figure "head and shoulder" with "line to necks" in region 1.27. On passed week european currency consolidate, as well as not having been able to develop the further growing. On week таймфрейме pair remains in top-down trande, pair remains below lines "necks" in region 1.27, and is corrected. On days timeframe pair has formed the whereupon it was corrected, risks of the continuation rising correction in region 1.26-1.27 are saved while pair remains above 1.2140. Fastening above 1.2530 will signalize in favour of growing of european currency. Fastening below 1.2440, will form the signals on fall euro.

-----Support--- ---Resistance--- -Trend-
1.2440-1.2450 / 1.2530-1.2540 / M
1.2370-1.2380 / 1.2590-1.2600 / W
1.2250-1.2260 / 1.2710-1.2720 / D
1.2190-1.2200 / 1.2840-1.2850 / H4

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