Short term trading strategy for foreign exchange currencies on December 2nd

2024-12-02 1410

Technically speaking, the US dollar index encountered resistance when rising below 106.20 last Friday, and was supported when falling above 105.60, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 105.45 today, the target for future gains will be between 106.10-106.45.

Today, the short-term resistance of the US Composite Index is between 106.05-106.10, and the important short-term resistance is between 106.40-106.45. Today, the short-term support for the US Composite Index is between 105.45 and 105.50, with important short-term support between 105.25 and 105.30. Last Friday, the EUR/USD fell above 1.0540 and received support, while its rise below 1.0600 encountered resistance, indicating that the short-term rise in Europe and the United States may maintain a downward trend. If the rise in Europe and America today encounters resistance below 1.0605, the target for future decline will be between 1.0545 and 1.0515. Today, the short-term resistance in Europe and America is between 1.0600 and 1.0605, and the important short-term resistance is between 1.0625 and 1.0630. Today, the short-term support for Europe and the United States is between 1.0545 and 1.0550, with important short-term support at 1.0515-1.0520.

Last Friday, gold fell above 2634.00 and received support, while its rise below 2667.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2636.00 today, the target for future upward movement will be between 2670.00 and 2684.00. Today, the short-term resistance of gold is between 2669.00 and 2670.00, and the important short-term resistance is between 2683.00 and 2684.00. Today, the short-term support for gold is at 2636.00-2637.00, and the important short-term support is at 2619.00-2620.00.

The short-term trend of the US dollar today is mainly to buy on dips, break down and stop losses. 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 bought at the lower limit of the range 106.45-105.50, with an effective break of 25 points to stop loss, and the target is at the upper limit of the range.

EUR/USD: You can sell within the upper limit of the 1.0605-1.0520 range, effectively breaking the 30 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell at the upper limit of the range 1.2770-1.2645, with an effective break of 30 points and a stop loss, targeting the upper limit of the range.

USD/CHF: You can buy at the lower limit of the range from 0.8850 to 0.8785, with an effective break of 30 points and a stop loss at the upper limit of the range.

USD/JPY: You can buy at the lower limit of the range from 150.95 to 148.85, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.

AUD/USD: You can buy at the lower limit of the range of 0.6540-0.6500, with an effective break of 25 points to stop loss, and the target is at the upper limit of the range.

USD/CAD: You can sell within the upper limit of the range of 1.4035-1.3965, with an effective stop loss of 40 points and a target at the lower limit of the range.

Gold: You can buy at the lower limit of the range 2670.00-2637.00, effectively break the $10 stop loss, and target at the upper limit of the range.

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