12.18 Short term trading strategy for foreign exchange currencies

2024-12-18 1734

Technically speaking, the US dollar index encountered resistance below 107.10 on Tuesday and was supported above 106.65, indicating that the short-term rise of the US dollar may maintain its downward trend. If the US Composite Index encounters resistance below 107.15 today, the target for future decline will be between 106.70-106.50. Today, the short-term resistance of the US Composite Index is between 107.10 and 107.15, with important short-term resistance ranging from 107.25 to 107.30. Today, the short-term support for the US Composite Index is at 106.70-106.75, with important short-term support at 106.50-106.55.

The EURUSD fell above 1.0475 on Tuesday and was supported, while its rise was blocked below 1.0535, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0525 today and encounters resistance, the target for future decline will be between 1.0465-1.0545. Today, the short-term resistance of EURUSD is at 1.0520-1.0525, and the important short-term resistance is at 1.0550-1.0555. Today, the short-term support for EURUSD is at 1.0465-1.0470, with important short-term support at 1.0445-1.0450.

Gold was supported on Tuesday when it fell above 2632.00, but encountered resistance when it rose below 2659.00, 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 2659.00 and 2672.00. Today, the short-term resistance of gold is between 2658.00 and 2659.00, and the important short-term resistance is between 2671.00 and 2672.00. Today, the short-term support for gold is at 2632.00-2633.00, and the important short-term support is at 2619.00-2620.00.

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 107.15 to 106.70, with an effective break of 15 points to stop loss, and the target is at the lower limit of the range.

EUR/USD: You can sell within the upper limit of the 1.0525-1.0445 range, effectively breaking the 50 point stop loss and targeting the lower limit of the range.

GBP/USD: You can buy at the lower limit of the range from 1.2765 to 1.2675, with an effective break of 35 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 0.8960 to 0.8880, with an effective stop loss of 40 points, and the target is at the lower limit of the range.

USD/JPY: You can sell at the upper limit of the range from 154.05 to 152.45, with an effective break of 40 points and a stop loss at the lower limit of the range.

AUD/USD: You can sell within the upper limit of the range of 0.6365 to 0.6305, 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 buy at the lower limit of the range from 1.4380 to 1.4250, with an effective break of 40 points and a stop loss at the upper limit of the range.

Gold: You can buy at the lower limit of the range of 2659.00 to 2632.00, effectively break the $10 stop loss, and target at the upper limit of the range.

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