Practical Strategies for Foreign Exchange Trading on September 27th

2024-09-27 1777

The US dollar index: The US dollar index rose below 101.00 on Thursday but encountered resistance, while its decline above 100.45 was supported, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 101.30 today, the target for future gains will be between 100.85 and 101.20. Today, the short-term resistance of the US Composite Index is between 100.80 and 100.85, with important short-term resistance ranging from 101.15 to 101.20.

Today, the short-term support for the US Composite Index is at 100.30-100.35, with important short-term support at 100.10-100.15.

EUR/USD: On Thursday, the decline in Europe and the United States above 1.1125 was supported, while the rise below 1.1190 encountered resistance, indicating that the short-term decline in Europe and the United States may maintain an upward trend. If the decline in Europe and America stabilizes above 1.1140 today, the target for future gains will be between 1.1205 and 1.1230. Today, the short-term resistance in Europe and America is between 1.1200 and 1.1205, and the important short-term resistance is between 1.1225 and 1.1230. Today, the short-term support for Europe and America is between 1.1140 and 1.1145, and the important short-term support is between 1.1100 and -1.1105.

Gold: Gold was supported on Thursday when it fell above 2654.00, but encountered resistance when it rose below 2686.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2690.00 today, the target for future decline will be between 2658.00 and 2641.00. Today, the short-term resistance of gold is between 2689.00 and 2690.00, and the important short-term resistance is between 2702.00 and 2703.00. Today, the short-term support for gold is at 2658.00-2659.00, and the important short-term support is at 2641.00-2642.00.

EUR/USD trading strategy: If it falls between 1.1140 and 1.1150, you can buy, with a stop loss below 1.1100 and a target between 1.1200 and 1.1205, 1.1225 and 1.1230.

GBP/USD trading strategy: If the price rises between 1.3460-1.3470, you can sell, with a stop loss above 1.3510 and targets at 1.3385-1.3390 and 1.3345-1.3350.

AUD/USD trading strategy: If the price rises between 0.6925 and 0.6695, you can sell with a stop loss above 0.6960. The target ranges from 0.6870 to 0.6875 and 0.6840 to 0.6845.

EUR/GBP operation strategy: If the price drops between 0.8315-0.8325, you can buy, with a stop loss below 0.8300. The target is 0.8350-0.8355, 0.8370-0.8375.

Summary of orders on September 26th: Short selling of GBP/USD between 1.3375 and 1.3385 was successful, with a short-term low of 1.3351 and a short-term profit margin of 25-35 points. Short selling of AUD/USD between 0.6865-0.6875 was successful, with a short-term low of 0.6863 and a short-term profit margin of less than 20 points. But this order can continue to be held, with a stop loss of 0.6910 or a pullback to around 0.6845 to close out. The US dollar/Canadian dollar requires a long position between 1.3440 and 1.3450, with the exchange rate dropping to a minimum of 1.3456, which meets my requirement range of entering the long position 5-10 points in advance. If investors enter the market early and go long, the highest increase will be 1.3489, with a short-term profit margin of 25-35 points. The direction of the EUR/USD long position is correct, but it has not reached the range for establishing positions.

Please be reminded that if the daily strategy first achieves the expected closing target, investors seeking stability can abandon their daily operation plan. Investors can start placing corresponding positions 5-10 points in advance when implementing this strategy, but the stop loss price should be executed without compromise.

According to this strategy, when there is a profit of more than 30 points, please do a good job of price protection and take profits. Do not let profitable orders turn into loss making orders.

Warehouse building standard: Risk tolerance of less than 20%, 0.1 lots per $2000 order is sufficient; The risk tolerance is between 20% and 50%, with 0.1 lot per 1000 US dollars; A risk tolerance of over 50% is sufficient, with 0.2-0.3 lots per 1000 US dollars.

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