1.8 Short term trading strategies for major foreign exchange currencies

2025-01-08 2359

Technically speaking, the US dollar index encountered resistance below 108.65 on Tuesday, while support was provided above 107.80, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 108.85 today, the target for future decline will be between 108.00 and 107.55. Today, the short-term resistance of the US Composite Index is between 108.80 and 108.85, with important short-term resistance ranging from 109.10 to 109.15. 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 1.0340 on Tuesday and received support, while its rise was blocked below 1.0435, indicating that EURUSD may maintain its upward trend after a short-term decline. If EURUSD stabilizes above 1.0320 today, the target for future gains will be between 1.0415 and 1.0470. Today, the short-term resistance of EURUSD is between 1.0410 and 1.0415, with important short-term resistance ranging from 1.0465 to -1.0470. Today, the short-term support for EURUSD is at 1.0320-1.0325, with important short-term support at 1.0285-1.0290.

Gold's decline above 2632.00 on Tuesday was supported, while its rise below 2665.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2665.00 today, the target for future decline will be between 2633.00 and 2617.00. Today, the short-term resistance of gold is between 2664.00 and 2665.00, with important short-term resistance ranging from 2680.00 to 2681.00. Today, the short-term support for gold is at 2633.00-2634.00, and the important short-term support is at 2617.00-2618.00.

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 108.85-108.00, 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 1.0415 to 1.0320, effectively breaking the 35 point stop loss and targeting the upper limit of the range.

GBP/USD: You can buy at the lower limit of the range 1.2555-1.2455, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.

USD/CHF: You can sell at the upper limit of the range from 0.9115 to 0.9040, with an effective break of 30 points and a stop loss at the lower limit of the range.

USD/JPY: You can buy at the lower limit of the range from 158.35 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 0.6275 to 0.6195, with an effective break of 40 points and a stop loss at the lower limit of the range.

USD/CAD: You can sell within the upper limit of the range of 1.4375 to 1.4305, with an effective stop loss of 35 points, and the target is at the lower limit of the range.

Gold: can be sold at the upper limit of the range of 2665.00-2634.00, with an effective break of $10 stop loss and a target at the lower limit of the range.

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