1.10 Short term trading strategy for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance below 109.40 on Thursday and was supported above 108.90, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 108.95 today, the target for future gains will be between 109.40 and 109.60. Today, the short-term resistance of the US Composite Index is between 109.35 and 109.40, and the important short-term resistance is between 109.55 and 109.60. Today, the short-term support for the US Composite Index is between 108.95 and 109.00, with important short-term support at 108.70-108.75.
On Thursday, EURUSD's decline above 1.0280 was supported, while its rise below 1.0325 encountered resistance, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0320 today and encounters resistance, the target for future decline will be between 1.0280 and 1.0260. Today, the short-term resistance of EURUSD is between 1.0315-1.0320, and the important short-term resistance is between 1.0335 and 1.0340. Today, the short-term support for EURUSD is between 1.0280 and 1.0285, with important short-term support between 1.0260 and 1.0265.
Gold's decline above 2655.00 on Thursday was supported, while its rise below 2679.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2657.00 today, the target for future increases will be between 2681.00 and 2691.00. Today, the short-term resistance of gold is between 2680.00 and 2681.00, and the important short-term resistance is between 2690.00 and 2691.00. Today, the short-term support for gold is between 2657.00 and 2658.00, and the important short-term support is between 2645.00 and 2646.00.
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 109.40-108.95, with an effective break of 25 points to stop loss, and the target is at the upper limit of the range.
EUR/USD: You can sell at the upper limit of the range 1.0320-1.0280, effectively breaking the 25 point stop loss and targeting the lower limit of the range.
GBP/USD: You can sell at the upper limit of the range 1.2375 to 1.2245, 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 0.9140 to 0.9105, with an effective break of 25 points and a stop loss at the upper limit of the range.
USD/JPY: You can sell within the upper limit of the range of 158.50 to 157.65, with an effective break of 40 points and a stop loss at the lower limit of the range.
AUD/USD: You can sell within the upper limit of the range of 0.6220 to 0.6170, 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 1.4410-1.4370, with an effective break of 30 points and a stop loss, targeting the upper limit of the range.
Gold: You can buy at the lower limit of the range of 2681.00 to 2657.00, with an effective break of $10 and a stop loss at the upper limit of the range.
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