1.9 Short term trading strategies for major foreign exchange currencies

2025-01-09 2874

Technically speaking, the US dollar index encountered resistance below 109.40 on Wednesday and was supported above 108.55, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 108.60 today, the target for future gains will be between 109.45 and 109.85. Today, the short-term resistance of the US index is between 109.40 and 109.45. The important short-term resistance is between 109.80 and 109.85. The short-term support of the US index is between 108.60 and 108.65. The important short-term support is between 108.20 and 108.825

The EURUSD fell above 1.0270 on Wednesday and received support, while its rise was blocked below 1.0360, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0355 today and encounters resistance, the target for future decline will be between 1.0265 and 1.0230. Today, the short-term resistance of EURUSD is 1.0350-1.0355. The important short-term resistance is 1.0395-1.0400. The short-term support of EURUSD is 1.0265-1.0270. The important short-term support is 1.0230-1.0235

Gold was supported on Wednesday when it fell above 2645.00, but encountered resistance when it rose below 2670.00, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2645.00 today, the target for future increases will be between 2671.00 and 2683.00. Today, the short-term resistance of gold is between 2670.00 and 2671.00. The important short-term resistance is between 2682.00 and 2683.00. The short-term support for gold is between 2645.00 and 2646.00. The important short-term support is between 2633.00 and 2634.00

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 109.45-108.65, 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 1.0355 to 1.0265, effectively breaking the 40 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell at the upper limit of the range 1.2395-1.2285, 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 0.9135 to 0.9095, with an effective break of 30 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 158.75 to 158.05, 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 0.6240 to 0.6185, with an effective break of 30 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 1.4420 to 1.4350, 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 2671.00-2645.00, with an effective stop loss of $10 and a target at the upper limit of the range.

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