Short term trading strategy for major foreign exchange currencies on February 19th
Technically speaking, the US dollar index encountered resistance below 107.15 on Tuesday and was supported above 106.70, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.80 today, the target for future gains will be between 107.25 and 107.40. Today, the short-term resistance of the US Composite Index is between 107.20 and 107.25, with important short-term resistance ranging from 107.35 to 107.40. Today, the short-term support for the US Composite Index is between 106.80 and 106.85, with important short-term support between 106.55 and 106.60.
The EUR/USD fell above 1.0435 on Tuesday and received support, while its rise was blocked below 1.0490, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0475, the target for future decline will be between 1.0425 and 1.0400. Today's short-term resistance is between 1.0475 and 1.0480, with important short-term resistance ranging from 1.0500 to 1.0505. Today's short-term support is between 1.0425 and 1.0430, with important short-term support between 1.0400 and 1.0405.
Gold was supported on Tuesday when it fell above 2891.00, but encountered resistance when it rose below 2937.00, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2906.00 today, the target for future gains will be between 2952.00 and 2967.00. Today, the short-term resistance of gold is between 2951.00 and 2952.00, and the important short-term resistance is between 2966.00 and 2967.00. Today, the short-term support for gold is at 2921.00-2922.00, and the important short-term support is at 2906.00-2907.00.
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: You can buy at the lower limit of the range of 107.40 to 106.80, 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 within the upper limit of the range of 1.0475-1.0405, 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 1.2625-1.2555, 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 0.9070 to 0.9010, with an effective break of 30 points and a stop loss at the upper limit of the range.
USD/JPY: You can buy at the lower limit of the range from 152.75 to 151.40, 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 0.6365 to 0.6320, 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 from 1.4225 to 1.4175, with an effective break of 25 points and a stop loss, targeting the upper limit of the range.
Gold: You can buy at the lower limit of the range from 2952.00 to 2906.00, with an effective stop loss of $10 and a target at the upper limit of the range.
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