12.16 Short term trading strategy for foreign exchange currencies

2024-12-16 1831

Technically speaking, the US dollar index encountered resistance when rising below 107.20 last Friday, and was supported when falling above 106.70, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 107.25 today, the target for future decline will be between 106.75 and 106.50. Today, the short-term resistance of the US Composite Index is between 107.20 and 107.25, with important short-term resistance ranging from 107.40 to 107.45. Today, the short-term support for the US Composite Index is between 106.75 and 106.80, with important short-term support ranging from 106.50 to 106.55.

Last Friday, EURUSD fell above 1.0450 and received support, while its rise below 1.0525 was blocked, indicating that EURUSD may maintain its upward trend after a short-term decline. If EURUSD stabilizes above 1.0455 today, the target for future gains will be between 1.0530-1.0565. 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 EURUSD is at 1.0455-1.0460, with important short-term support at 1.0420-1.0425.

Gold's decline above 2646.00 last Friday was supported, while its rise below 2693.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2682.00 today, the target for future decline will be between 2635.00 and 2617.00. Today, the short-term resistance of gold is between 2663.00 and 2664.00, and the important short-term resistance is between 2681.00 and 2682.00. Today, the short-term support for gold is between 2635.00 and 2636.00, and the important short-term support is between 2617.00 and 2618.00.

The short-term strategy for the US dollar today is mainly to short sell at high prices, with stop loss at break levels. 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 107.20-106.50, 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 1.0560-1.0460 range, effectively breaking the 40 point stop loss and targeting the upper limit of the range.

GBP/USD: You can sell within the upper limit of the range of 1.2665 to 1.2585, 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 from 0.8945 to 0.8915, with an effective break of 25 points and a stop loss at the upper limit of the range.

USD/JPY: You can sell within the upper limit of the range of 154.20-152.80, 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 buy at the lower limit of the range from 0.6395 to 0.6345, with an effective break of 20 points and a stop loss at the upper limit of the range.

USD/CAD: You can buy at the lower limit of the range from 1.4250 to 1.4210, with an effective break of 25 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 2681.00 to 2635.00, with an effective stop loss of $10 and a target at the lower limit of the range.

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