1.3 Short term trading strategies for major foreign exchange currencies

2025-01-03 2833

Technically speaking, the US dollar index encountered resistance below 109.55 on Thursday and was supported above 108.25, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 109.05 today, the target for future gains will be between 109.90 and 110.35. Today, the short-term resistance of the US Composite Index is between 109.85 and 109.90, with important short-term resistance ranging from 110.30 to 110.35. Today, the short-term support for the US Composite Index is at 109.05-109.10, with important short-term support at 108.60-108.65.

The EURUSD fell above 1.0225 on Thursday and received support, while its rise was blocked below 1.0375, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0285 today and encounters resistance, the target for future decline will be between 1.0190 and 1.0135. Today, the short-term resistance of EURUSD is between 1.0280 and 1.0285, and the important short-term resistance is between 1.0340 and 1.0345. Today, the short-term support for EURUSD is between 1.0190 and 1.0195, with important short-term support between 1.0135 and 1.0140.

Gold's decline above 2621.00 on Thursday was supported, while its rise below 2661.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2630.00 today, the target for future upward movement will be between 2670.00 and 2685.00. Today, the short-term resistance of gold is between 2669.00 and 2670.00, and the important short-term resistance is between 2684.00 and 2685.00. Today, the short-term support for gold is between 2645.00-2646.00, and the important short-term support is between 2630.00 and 2631.00.

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.

USD index: You can buy at the lower limit of the 109.90-109.05 range, 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 1.0285-1.0190, effectively breaking the 40 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell within the upper limit of the range of 1.2420-1.2300, 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 0.9170 to 0.9070, 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 buy at the lower limit of the range from 158.20 to 157.30, 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 0.6220 to 0.6175, with an effective break of 25 points and a stop loss at the lower limit of the range.

USD/CAD: You can buy at the lower limit of the range from 1.4450 to 1.4375, 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 2670.00-2631.00, effectively break the $10 stop loss, and target at the upper limit of the range.

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