Short term trading strategy for major foreign exchange currencies on February 18th

2025-02-18 2663

Technically speaking, the US dollar index encountered resistance on Monday when it rose below 106.90, and was supported when it fell above 106.60, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.60 today, the target for future gains will be between 106.90 and 107.05. Today, the short-term resistance of the US Composite Index is between 106.85 and 106.90, with important short-term resistance ranging from 107.00 to 107.05. Today, the short-term support for the US Composite Index is at 106.60-106.65, with important short-term support at 106.45-106.50.

The EUR/USD fell above 1.0465 on Monday and received support, while its rise was blocked below 1.0510, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0505, the target for future decline will be between 1.0460 and 1.0445. Today, the short-term resistance is at 1.0500-1.0505, and the important short-term resistance is at 1.0520-1.0525. Today's short-term support is between 1.0460-1.0465, and short-term important support is between 1.0445-1.0450.

Gold was supported on Monday when it fell above 2878.00, but encountered resistance when it rose below 2907.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2911.00 today, the target for future decline will be between 2882.00 and 2866.00. Today, the short-term resistance of gold is between 2910.00 and 2911.00, and the important short-term resistance is between 2922.00 and 2923.00. Today, the short-term support for gold is between 2882.00 and 2883.00, and the important short-term support is between 2866.00 and 2867.00.

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 of 107.05-106.60, with an effective break of 20 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 1.0505 to 1.0445, effectively breaking the 30 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell at the upper limit of the range 1.2650-1.2560, with an effective break of 30 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 0.9040 to 0.8985, with an effective break of 30 points and a stop loss, targeting the upper limit of the range.

USD/JPY: You can sell within the upper limit of the range of 152.10-151.00, 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 0.6375-0.6345, with an effective break of 20 points and a stop loss at the upper limit of the range.

USD/CAD: You can buy at the lower limit of the range from 1.4215 to 1.4160, with an effective break of 30 points and a stop loss at the upper limit of the range.

Gold: It can be sold at the upper limit of the range of 2911.00 to 2882.00, with an effective stop loss of $10 and a target at the lower limit of the range.

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