EUR/USD intraday strategy 29.07.2009

Pair EUR/USD is traded within the limits of a range 1.3757-1.4294 on an hour graph. We can see on it, that rate EUR/USD is traded above level sliding by average with phase 55 on an hour graph (level 1.4226), that possesses to recovery of price in short-term prospect.

I recommend to open long positions after breakdown following the results of an hour of resistance in the order 1.4271 (at the moment of the article publication), for the purpose raises to resistance in the order 1.4294 and in case of its breakdown following the results of an hour to 1.4321. Stop-loss at the given strategy can be placed in the order 1.4230.

I recommend to open short positions at support breakdown in the order 1.4209 following the results of an hour, for the purpose drops to support in the order 1.4180 and in case of its breakdown following the results of an hour to 1.4141. Stop-loss at the given strategy can be placed in the order 1.4247.

Considering, that sliding average and the disposition of boundaries of technical figures moves with the course of time, it is necessary to updating of their position on an hour graph. I also recommend to open positions following the results of an hour to avoid false breaks.

In case of strong driving at break of an engineering figure, I recommend to wait corrections. That level which resistance should become strong support and near to the given level it is necessary to open position in a breakdown direction.