12.20 Short term trading strategy for foreign exchange currencies
Technically speaking, the US dollar index encountered resistance on Thursday when it rose below 108.50, and was supported when it fell above 107.80, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 108.00 today, the target for future gains will be between 108.70-108.90. Today, the short-term resistance of the US Composite Index is between 108.65 and 108.70, and the important short-term resistance is between 108.85 and 108.90. Today, the short-term support for the US Composite Index is at 108.00-108.05, with important short-term support at 107.55-107.60.
The EURUSD fell above 1.0345 on Thursday and received support, while its rise was blocked below 1.0425, 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 1.0330-1.0300. Today, the short-term resistance of EURUSD is between 1.0405 and 1.0410, with important short-term resistance ranging from 1.0455 to 1.0460. Today, the short-term support for EURUSD is at 1.0330-1.0335, with important short-term support at 1.0300-1.0305.
Gold's decline above 2582.00 on Thursday was supported, while its rise below 2627.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2622.00 today, the target for future decline will be between 2577.00 and 2558.00. Today, the short-term resistance of gold is between 2621.00 and 2622.00, and the important short-term resistance is between 2645.00 and 2646.00. Today, the short-term support for gold is at 2577.00-2578.00, and the important short-term support is at 2558.00-2559.00.
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 108.65-108.00, 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 1.0330, with an effective break of 40 points and a stop loss at the lower limit of the range.
GBP/USD: You can sell within the upper limit of the range of 1.2560-1.2450, with an effective break of 40 points to stop loss, and the target is at the lower limit of the range.
USD/CHF: You can buy at the lower limit of the range from 0.9020 to 0.8950, with an effective break of 35 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 158.70 to 156.55, 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 0.6275-0.6205, 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 1.4455 to 1.4330, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
Gold: can be sold at the upper limit of the range of 2621.00 to 2577.00, with an effective stop loss of $10 and a target at the lower limit of the range.
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