12.19 Short term trading strategy for foreign exchange currencies

2024-12-19 2098

Technically speaking, the US dollar index encountered resistance on Wednesday when it rose below 108.30, and was supported when it fell above 106.80, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 107.70 today, the target for future gains will be between 108.60-109.15. Today, the short-term resistance of the US Composite Index is between 108.55 and 108.60, with important short-term resistance ranging from 109.10 to 109.15. Today, the short-term support for the US Composite Index is between 107.70 and 107.75, with important short-term support between 107.15 and 107.20.

The EURUSD fell above 1.0340 on Wednesday and received support, while its rise was blocked below 1.0515, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0410 today and encounters resistance, the target for future decline will be between 1.0310-1.0245. Today, the short-term resistance of EURUSD is between 1.0405 and 1.0410, and the important short-term resistance is between 1.0475 and 1.0480. Today, the short-term support for EURUSD is at 1.0310-1.0315, with important short-term support at 1.0245-1.0250.

Gold's decline above 2587.00 on Wednesday was supported, while its rise below 2652.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2615.00 today, the target for future decline will be between 2577.00 and 2550.00. Today, the short-term resistance of gold is between 2614.00 and 2615.00, and the important short-term resistance is between 2641.00 and 2642.00. Today, the short-term support for gold is between 2577.00 and 2578.00, with important short-term support between 2550.00 and 2551.00.

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 108.60-107.70, 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 1.0410 to 1.0310, with an effective break of 40 points and a stop loss at the lower limit of the range.

GBP/USD: You can sell at the upper limit of the range 1.2630-1.2530, 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 of 0.9045-0.8980, 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 sell at the upper limit of the range from 155.20 to 154.20, 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 sell within the upper limit of the range of 0.6270 to 0.6195, with an effective stop loss of 40 points below the level, and the target is at the lower limit of the range.

USD/CAD: You can buy at the lower limit of the range from 1.4475 to 1.4385, with an effective break of 40 points and a stop loss at the upper limit of the range.

Gold: can be sold at the upper limit of the range of 2615.00-2577.00, with an effective break of $10 stop loss and a target at the lower limit of the range.

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