12.17 Short term trading strategy for foreign exchange currencies

2024-12-17 1704

Technically speaking, the US dollar index encountered resistance below 107.20 on Monday and was supported above 106.70, indicating that the short-term rise of the US dollar may maintain its downward trend. If the US Composite Index encounters resistance below 107.10 today, the target for future decline will be between 106.65 and 106.50. Today, the short-term resistance of the US Composite Index is between 107.05 and 107.10, with important short-term resistance ranging from 107.30 to 107.35. Today, the short-term support for the US Composite Index is between 106.65 and 106.70, with important short-term support ranging from 106.50 to 106.55.

The EURUSD fell above 1.0475 on Monday and was supported, while its rise was blocked below 1.0525, indicating that EURUSD may maintain its upward trend after a short-term decline. If EURUSD stabilizes above 1.0480 today, the target for future gains will be between 1.0535 and 1.0555. Today, the short-term resistance of EURUSD is at 1.0530-1.0535, and the important short-term resistance is at 1.0550-1.0555. Today, the short-term support for EURUSD is between 1.0480-1.0485, and the important short-term support is between 1.0450-1.0455.

Gold was supported on Monday when it fell above 2643.00, but encountered resistance when it rose below 2665.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2664.00 today, the target for future decline will be between 2642.00 and 2632.00. Today, the short-term resistance of gold is between 2663.00 and 2664.00, and the important short-term resistance is between 2674.00 and 2675.00. Today, the short-term support for gold is between 2642.00 and 2643.00, and the important short-term support is between 2632.00 and 2633.00.

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 107.10-106.50, with an effective break of 25 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 1.0550-1.0480 range, effectively breaking the 30 point stop loss and targeting the upper limit of the range.

GBP/USD: You can buy at the lower limit of the range 1.2750-1.2630, with an effective break of 40 points and a stop loss at the upper limit of the range.

USD/CHF: You can sell within the upper limit of the range of 0.8965 to 0.8885, with an effective break of 30 points and a stop loss at the lower limit of the range.

USD/JPY: You can buy at the lower limit of the range from 154.65 to 153.50, 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 of 0.6400-0.6350, with an effective break of 25 points and a stop loss, targeting the upper limit of the range.

USD/CAD: You can sell within the upper limit of the range of 1.4270 to 1.4190, with an effective break of 30 points and a stop loss at the lower limit of the range.

Gold: can be sold at the upper limit of the range from 2664.00 to 2643.00, with an effective stop loss of $10 and a target at the lower limit of the range.

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