1.7 Short term trading strategies for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance below 109.10 on Monday and was supported above 107.70, indicating that the short-term rise of the US dollar may maintain its downward trend. If the US Composite Index encounters resistance below 108.65 today, the target for future decline will be between 107.60 and 107.00. Today, the short-term resistance of the US Composite Index is between 108.60 and 108.65, with important short-term resistance ranging from 108.95 to 109.00. Today, the short-term support for the US Composite Index is between 107.60 and 107.65, with important short-term support between 107.00 and 107.05.
EURUSD was supported on Monday when it fell above 1.0295, but encountered resistance when it rose below 1.0440, indicating that EURUSD may maintain its upward trend after a short-term decline. If EURUSD stabilizes above 1.0355 today, the target for future gains will be between 1.0455 and 1.0515. Today, the short-term resistance of EURUSD is between 1.0450 and 1.0455, with important short-term resistance at 1.0510-1.0515. Today, the short-term support for EURUSD is between 1.0355 and 1.0360, with important short-term support at 1.0310 to 1.0315.
Gold was supported on Monday when it fell above 2614.00, but encountered resistance when it rose below 2650.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2651.00 today, the target for future decline will be between 2616.00 and 2598.00. Today, the short-term resistance of gold is between 2650.00 and 2651.00, with important short-term resistance ranging from 2667.00 to 2668.00. Today, the short-term support for gold is at 2616.00-2617.00, and the important short-term support is at 2598.00-2599.00.
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 108.65-107.65, with an effective break of 30 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 range from 1.0455 to 1.0355, effectively breaking the 40 point stop loss and targeting the upper limit of the range.
GBP/USD: You can buy at the lower limit of the range of 1.2570-1.2450, 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 0.9075 to 0.9000, with an effective stop loss of 35 points, and the target is at the lower limit of the range.
USD/JPY: You can buy at the lower limit of the range of 158.25-156.55, 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 buy at the lower limit of the range of 0.6295-0.6200, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
USD/CAD: You can sell within the upper limit of the range of 1.4390 to 1.4260, with an effective stop loss of 40 points, and the target is at the lower limit of the range.
Gold: can be sold at the upper limit of the range of 2650.00 to 2616.00, with an effective break of $10 stop loss and a target at the lower limit of the range.
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