Short term trading strategies for major currencies on November 20th
Technically speaking, the US dollar index encountered resistance on Tuesday when it rose below 106.65, and was supported when it fell above 106.10, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 106.55 today, the target for future decline will be between 106.00-105.75. Today, the short-term resistance of the US Composite Index is between 106.50 and 106.55, with important short-term resistance ranging from 106.80 to 106.85. Today, the short-term support for the US Composite Index is between 106.00 and 106.05, with important short-term support ranging from 105.75 to 105.80. On Tuesday, the decline in Europe and the United States above 1.0520 was supported, while the rise below 1.0605 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 1.0545 today, the target for future gains will be between 1.0625 and 1.0650. Today, the short-term resistance in Europe and America is between 1.0620 and 1.0625, with important short-term resistance ranging from 1.0645 to 1.0650. Today, the short-term support for Europe and America is between 1.0545 and 1.0550, and the important short-term support is between 1.0495 and 1.0500. Gold was supported on Tuesday when it fell above 2609.00, but encountered resistance when it rose below 2640.00, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2613.00 today, the target for future upward movement will be between 2644.00 and 2657.00. Today, the short-term resistance of gold is between 2643.00 and 2644.00, and the important short-term resistance is between 2656.00 and 2657.00. Today, the short-term support for gold is between 2613.00 and 2614.00, and the important short-term support is between 2597.00 and 25998.00.
The short-term strategy for the US dollar today is mainly to short sell at high prices, with stop loss at break levels. If there is a profit of more than 30 points, set a stop win and withdraw all pending orders that have not been executed before the US market opens. This strategy is suitable for margin trading and can be used as a reference for actual trading.
The US dollar index can be sold at the upper limit of the range 106.55-106.00, with an effective break of 30 points to stop loss, and the target is at the lower limit of the range.
EUR/USD: You can buy at the lower limit of the range of 1.0625-1.0545, effectively breaking the 40 point stop loss and targeting the upper limit of the range.
GBP/USD: You can buy at the lower limit of the range 1.2710-1.2630, with an effective break of 40 points and a stop loss at the upper limit of the range.
USD/CHF: You can sell within the upper limit of the range of 0.8850 to 0.8805, with an effective break of 30 points and a stop loss at the lower limit of the range.
USD/JPY: You can buy at the lower limit of the range of 155.25-153.75, with an effective break of 40 points and a stop loss, targeting the upper limit of the range.
AUD/USD: You can buy at the lower limit of the range of 0.6550-0.6500, with an effective break of 35 points to stop loss, and the target is at the upper limit of the range.
USD/CAD: You can sell at the upper limit of the range from 1.4015 to 1.3940, with an effective break of 40 points and a stop loss at the lower limit of the range.
Gold: You can buy at the lower limit of the range from 2644.00 to 2614.00, with an effective stop loss of $10 and a target at the upper limit of the range.
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