Short term trading strategy for major foreign exchange currencies on February 17th
Technically speaking, the US dollar index encountered resistance when rising below 107.20 last Friday, and was supported when falling above 106.55, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 107.10 today, the target for future decline will be between 106.45 and 106.20. Today, the short-term resistance of the US Composite Index is between 107.05 and 107.10, with important short-term resistance ranging from 107.40 to 107.45. Today, the short-term support for the US Composite Index is between 106.45 and 106.50, with important short-term support ranging from 106.20 to 106.25.
The EUR/USD fell above 1.0445 last Friday and received support, while its rise was blocked below 1.0515, indicating that it may maintain its upward trend after a short-term decline. If today's decline stabilizes above 1.0460, the target for future gains will be between 1.0530-1.0555. Today, the short-term resistance is at 1.0525-1.0530, and the important short-term resistance is at 1.0550-1.0555. Today's short-term support is between 1.0460-1.0465, and short-term important support is between 1.0420-1.0425.
Gold's decline above 2876.00 last Friday was supported, while its rise below 2940.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2922.00 today, the target for future decline will be between 2958.00 and 2836.00. Today, the short-term resistance of gold is at 2899.00-2900.00, and the important short-term resistance is at 2921.00-2922.00. Today, the short-term support for gold is between 2858.00 and 2859.00, with important short-term support between 2835.00 and 2836.00.
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 107.10-106.45, 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 1.0530-1.0460 range, 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 1.2635 to 1.2555, 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 within the upper limit of the range of 0.9035-0.8955, with an effective break of 40 points to stop loss, and the target is at the lower limit of the range.
USD/JPY: You can sell within the upper limit of the range of 152.90 to 151.75, with an effective break of 40 points and a stop loss at the lower limit of the range.
AUD/USD: You can buy at the lower limit of the range of 0.6380-0.6320, with an effective break of 35 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 1.4195-1.4140, with an effective break of 30 points and a stop loss at the lower limit of the range.
Gold: It can be sold at the upper limit of the range of 2922.00 to 2858.00, with an effective stop loss of $10 and a target at the lower limit of the range.
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