Short term trading strategy for foreign exchange currencies on December 3rd
Technically speaking, the US dollar index encountered resistance on Monday when it rose below 106.75, and was supported when it fell above 105.75, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 105.90 today, the target for future gains will be between 106.90 and 107.30. Today, the short-term resistance of the US Composite Index is between 106.85 and 106.90, with important short-term resistance ranging from 107.25 to 107.30. Today, the short-term support for the US Composite Index is between 105.90 and 105.95, with important short-term support ranging from 105.35 to 105.40.
The EUR/USD fell above 1.0460 on Monday and received support, while its rise was blocked below 1.0575, indicating that it may maintain a downward trend after a short-term rise in Europe and the United States. If the rise in Europe and America today encounters resistance below 1.0560, the target for future decline will be between 1.0440 and 1.0395. Today, the short-term resistance in Europe and America is between 1.0555-1.0560, and the important short-term resistance is between 1.0620-1.0625. Today, the short-term support for Europe and America is between 1.0440 and 1.0445, and the important short-term support is between 1.0395 and 1.0400. Gold's decline above 2621.00 on Monday was supported, while its rise below 2657.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2656.00 today, the target for future decline will be between 2620.00 and 2604.00. Today, the short-term resistance of gold is between 2655.00 and 2656.00, with important short-term resistance ranging from 2672.00 to 2673.00. Today, the short-term support for gold is between 2620.00 and 2621.00, and the important short-term support is between 2604.00 and 2605.00.
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: You can buy at the lower limit of the range of 107.30-105.90, with an effective break of 30 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 range of 1.0555-1.0395, effectively breaking the 40 point stop loss and targeting the lower limit of the range.
GBP/USD: Can be sold at the upper limit of the range 1.2720-1.2550, with an effective break of 40 points and a stop loss at the lower limit of the range.
USD/CHF: You can buy at the lower limit of the range of 0.8940-0.8820, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
USD/JPY: You can sell within the upper limit of the range of 150.50 to 148.80, with an effective break of 40 points to stop loss, and the target is at the lower limit of the range.
AUD/USD: You can sell at the upper limit of the range 0.6510-0.6405, with an effective break of 30 points and a stop loss at the lower limit of the range.
USD/CAD: You can buy at the lower limit of the range from 1.4140 to 1.3995, with an effective break of 40 points and a stop loss at the upper limit of the range.
Gold: can be sold at the upper limit of the range of 2655.00-2605.00, with an effective break of $10 stop loss and a target at the lower limit of the range.
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