12.11 Short term trading strategy for foreign exchange currencies
Technically speaking, the US dollar index encountered resistance on Tuesday when it rose below 106.65, and was supported when it fell above 106.00, 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 106.70-106.95. Today, the short-term resistance of the US Composite Index is between 106.65 and 106.70, and the important short-term resistance is between 106.90 and 106.95. Today, the short-term support for the US Composite Index is at 106.30-106.35, with important short-term support at 106.05-106.10.
The EURUSD fell above 1.0495 on Tuesday and was supported, while its rise was blocked below 1.0570, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0565 today and encounters resistance, the target for future decline will be between 1.0490 and 1.0460. Today, the short-term resistance of EURUSD is between 1.0560-1.0565, with important short-term resistance ranging from 1.0595 to 1.0600. Today, the short-term support for EURUSD is between 1.0490 and 1.0495, with important short-term support between 1.0460 and 1.0465.
During the Golden Week, a decline above 2657.00 is supported, while an increase below 2696.00 is blocked, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2681.00 today, the target for future gains will be between 2706.00 and 2720.00. Today, the short-term resistance of gold is between 2705.00 and 2706.00, with important short-term resistance ranging from 2719.00 to 2720.00. Today, the short-term support for gold is at 2681.00-2682.00, and the important short-term support is at 2667.00-2668.00.
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 106.70-106.10, 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 1.0565-1.0495, effectively breaking the 40 point stop loss and targeting the lower limit of the range.
GBP/USD: You can buy at the lower limit of the range of 1.2810-1.2740, 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 buy at the lower limit of the range of 0.8850-0.8790, 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 buy at the lower limit of the range from 152.45 to 151.15, with an effective break of 40 points and a stop loss at the upper limit of the range.
AUD/USD: You can buy at the lower limit of the range from 0.6430 to 0.6350, with an effective break of 30 points and a stop loss at the upper limit of the range.
USD/CAD: You can sell at the upper limit of the range from 1.4190 to 1.4130, 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 from 2706.00 to 2681.00, with an effective stop loss of $10 and a target at the upper limit of the range.
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