Short term trading strategy for foreign exchange currencies on December 5th

2024-12-05 1423

Technically speaking, the US dollar index encountered resistance on Wednesday when it rose below 106.75, and was supported when it fell above 106.05, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 106.70 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 106.65 and 106.70, with important short-term resistance ranging from 106.95 to 107.00. 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. The EURUSD fell above 1.0470 on Wednesday and received support, while its rise was blocked below 1.0545, indicating that EURUSD may maintain its upward trend after a short-term decline. If EURUSD stabilizes above 1.0475 today, the target for future gains will be between 1.0550-1.0485. Today, the short-term resistance of EURUSD is between 1.0545 and 1.0550, and the important short-term resistance is between 1.0580 and 1.0585. Today, the short-term support for Europe and America is between 1.0475 and 1.0480, and the important short-term support is between 1.0435 and 1.0440.

Gold's decline above 2632.00 on Wednesday was supported, while its rise below 2658.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2632.00 today, the target for future upward movement will be between 2662.00 and 2672.00. Today, the short-term resistance of gold is between 2661.00 and 2662.00, and the important short-term resistance is between 2671.00 and 2672.00. Today, the short-term support for gold is at 2637.00-2638.00, and the important short-term support is at 2622.00-2623.00.

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 sold at the upper limit of the range of 106.65-105.75, 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 from 1.0580 to 1.0475, 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 from 1.2775 to 1.2645, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.

USD/CHF: You can sell within the upper limit of the range of 0.8870-0.8700, with an effective break of 35 points to stop loss, and the target is at the lower limit of the range.

USD/JPY: You can buy at the lower limit of the range from 151.30 to 149.50, 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 0.6485 to 0.6395, with an effective break of 40 points to stop loss, and the target is at the lower limit of the range.

USD/CAD: You can sell at the upper limit of the range 1.4085-1.4035, with an effective break of 30 points and a stop loss at the lower limit of the range.

Gold: You can buy at the lower limit of the range 2672.00-2637.00, with an effective break of $10 to stop loss, and the target is at the upper limit of the range.

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