Short term trading strategy for foreign exchange currencies on December 4th

2024-12-04 1465

Technically speaking, the US dollar index encountered resistance below 106.60 on Tuesday, while support was provided above 106.05, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.05 today, the target for future gains will be between 106.65 and 106.90. Today, the short-term resistance of the US Composite Index is between 106.60 and 106.65, with important short-term resistance ranging from 106.85 to 106.90.

Today, the short-term support for the US Composite Index is between 106.05 and 106.10, with important short-term support ranging from 105.80 to 105.85. The EUR/USD fell above 1.0480 on Tuesday and was supported, while its rise below 1.0535 was blocked, indicating that the EUR/USD may maintain its downward trend after a short-term rise. If the rise in Europe and America today encounters resistance below 1.0535, the target for future decline will be between 1.0475 and 1.0450. Today, the short-term resistance in Europe and America is at 1.0530-1.0535, and the important short-term resistance is at 1.0560-1.0565. Today, the short-term support for Europe and America is between 1.0475-1.0480, and the important short-term support is between 1.0450-1.0455.

Gold's decline above 2634.00 on Tuesday was supported, while its rise below 2656.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2653.00 today, the target for future decline will be between 2631.00 and 2622.00. Today, the short-term resistance of gold is between 2652.00 and 2653.00, and the important short-term resistance is between 2664.00 and 2665.00. Today, the short-term support for gold is at 2631.00-2632.00, and the important short-term support is at 2621.00-2622.00.

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 106.65-106.05, 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 range of 1.0535 to 1.0475, 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 1.2700-1.2635, with an effective break of 30 points and a stop loss at the lower limit of the range.

USD/CHF: You can buy at the lower limit of the range from 0.8895 to 0.8830, 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 150.30 to 148.70, 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 sell within the upper limit of the range of 0.6505-0.6455, with an effective break of 25 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 1.4095 to 1.4025, with an effective break of 40 points and a stop loss at the upper limit of the range.

Gold: It can be sold at the upper limit of the range of 2653.00 to 2631.00, with an effective stop loss of $10 and a target at the lower limit of the range.

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