Short term trading strategies for major foreign exchange currencies on February 21st

2025-02-21 2728

Technically speaking, the US dollar index encountered resistance below 107.25 on Thursday and was supported above 106.30, indicating that the short-term rise of the US dollar may maintain its downward trend. If the US Composite Index encounters resistance below 106.65 today, the target for future decline will be between 106.05 and 105.75. Today, the short-term resistance of the US Composite Index is between 106.60 and 106.65, with important short-term resistance ranging from 106.90 to 106.95. Today, the short-term support of the US Composite Index is between 106.05-106.10, and the short-term important support is between 105.75-105.80.

The EUR/USD fell above 1.0415 on Thursday and received support, while its rise was blocked below 1.0505, indicating that it may maintain its upward trend after a short-term decline. If today's decline stabilizes above 1.0470, the target for future gains will be between 1.0530-1.0560. Today, the short-term resistance is between 1.0525-1.0530, and the important short-term resistance is between 1.0555-1.0560. Today's short-term support is between 1.0470-1.0475, and short-term important support is between 1.0445-1.0450.

Gold's decline above 2924.00 on Thursday was supported, while its rise below 2955.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2954.00 today, the target for future decline will be between 2923.00 and 2908.00. Today, the short-term resistance of gold is between 2953.00 and 2954.00, and the important short-term resistance is between 2969.00 and 2970.00. Today, the short-term support for gold is between 2923.00 and 2924.00, and the important short-term support is between 2908.00 and 2909.00.

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 106.65-106.05, 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 1.0530-1.0470 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 1.2700-1.2640, 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 at the upper limit of the range from 0.9020 to 0.8950, with an effective break of 40 points and a stop loss at the lower limit of the range.

USD/JPY: You can sell within the upper limit of the range of 150.25 to 148.95, with an effective break of 40 points to stop loss, and the target is at the lower limit of the range.

AUD/USD: You can buy at the lower limit of the range of 0.6430-0.6375, with an effective break of 30 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 1.4225 to 1.4145, with an effective break of 40 points and a stop loss at the lower limit of the range.

Gold: can be sold at the upper limit of the range of 2954.00-2923.00, with an effective stop loss of $10 and a target at the lower limit of the range.

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