12.12 Short term trading strategy for foreign exchange currencies
Technically speaking, the US dollar index encountered resistance on Wednesday when it rose below 106.85, and was supported when it fell above 106.25, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.35 today, the target for future gains will be between 106.95 and 107.15. Today, the short-term resistance of the US Composite Index is between 106.90 and 106.95, with important short-term resistance ranging from 107.10 to 107.15. Today, the short-term support for the US Composite Index is between 106.35 and 106.40, with important short-term support ranging from 106.00 to 106.05.
On Wednesday, EURUSD's decline above 1.0480 was supported, while its rise below 1.0540 encountered resistance, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0530 today and encounters resistance, the target for future decline will be between 1.0465-1.0440. Today, the short-term resistance of EURUSD is at 1.0525-1.0530, and the important short-term resistance is at 1.0560-1.0565. Today, the short-term support for Europe and America is at 1.0465-1.0470, with important short-term support at 1.0440-1.0445.
Gold's decline above 2675.00 on Wednesday was supported, while its rise below 2722.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2704.00 today, the target for future upward movement will be between 2735.00-2751.00. Today, the short-term resistance of gold is between 2734.00 and 2735.00, with important short-term resistance ranging from 2750.00 to 2751.00. Today, the short-term support for gold is between 2704.00 and 2705.00, and the important short-term support is between 2688.00 and 2689.00.
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 106.95-106.35, 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 1.0530-1.0465 range, effectively breaking the 35 point stop loss and targeting the lower limit of the range.
GBP/USD: You can sell within the upper limit of the range of 1.2780-1.2710, with an effective break of 35 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 0.8865 to 0.8820, 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 153.30 to 151.55, 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 0.6395 to 0.6340, with an effective break of 30 points to stop loss, and the target is at the lower limit of the range.
USD/CAD: You can sell within the upper limit of the range of 1.4200 to 1.4120, with an effective 35 point stop loss and a target at the lower limit of the range.
Gold: You can buy at the lower limit of the range of 2735.00-2704.00, effectively break the $10 stop loss, and target at the upper limit of the range.
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