Short term trading strategy for major foreign exchange currencies on February 10th
Technically speaking, the US dollar index encountered resistance when rising below 108.35 last Friday, and was supported when falling above 107.55, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 107.95 today, the target for future gains will be between 108.45 and 108.75. Today, the short-term resistance of the US index is between 108.40 and 108.45. The important short-term resistance is between 108.70 and 108.75. The short-term support of the US index is between 107.95 and 108.00. The important short-term support is between 107.60 and 107.65
The EUR/USD fell above 1.0305 last Friday and received support, while its rise was blocked below 1.0415, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0350, the target for future decline will be between 1.0280 and 1.0240. Today's short-term resistance is between 1.0345 and 1.0350. The important short-term resistance is between 1.0390 and 1.0395. The short-term support is between 1.0280 and 1.0285. The important short-term support is between 1.0240 and 1.0245
Gold's decline above 2852.00 last Friday was supported, while its rise below 2887.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2881.00 today, the target for future decline will be between 2846.00 and 2832.00. Today, the short-term resistance of gold is between 2880.00 and 2881.00. The important short-term resistance is between 2900.00 and 2901.00. The short-term support for gold is between 2846.00 and 2847.00. The important short-term support is between 2832.00 and 28333.00
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 108.75-107.95, 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 at the upper limit of the range 1.0350-1.0240, 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 1.2430-1.2310, 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 0.9080, 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 of 152.25-150.75, with an effective break of 40 points and a stop loss at the upper limit of the range.
AUD/USD: You can sell within the upper limit of the range of 0.6275-0.6225, 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 of 1.4375 to 1.4300, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
Gold: It can be sold at the upper limit of the range of 2881.00 to 2846.00, with an effective stop loss of $10 and a target at the lower limit of the range.
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