Short term trading strategy for major foreign exchange currencies on February 24th
Technically speaking, the US dollar index encountered resistance when rising below 106.75 last Friday, and was supported when falling above 106.25, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 106.80 today, the target for future decline will be between 106.35 and 106.10. Today, the short-term resistance of the US Composite Index is between 106.75-106.80, and the important short-term resistance is between 106.95-107.00. Today, the short-term support for the US Composite Index is between 106.35 and 106.40, with important short-term support at 106.10-106.15.
The EUR/USD fell above 1.0445 last Friday 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 1.0435, the target for future upward movement will be between 1.0495 and 1.0530. Today's short-term resistance is between 1.0490 and 1.0495, with important short-term resistance at 1.0525-1.0530. Today's short-term support is between 1.0435 and 1.0440, and short-term important support is between 1.0415 and 1.0420.
Gold's decline above 2916.00 last Friday was supported, while its rise below 2950.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2950.00 today, the target for future decline will be between 2916.00 and 2900.00. Today, the short-term resistance of gold is between 2949.00 and 2950.00, and the important short-term resistance is between 2966.00 and 2967.00. Today, the short-term support for gold is between 2916.00 and 2917.00, with important short-term support between 2900.00 and 2901.00.
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 106.80-106.35, with an effective break of 20 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 range from 1.0495 to 1.0440, effectively breaking the 25 point stop loss and targeting the upper limit of the range.
GBP/USD: You can buy at the lower limit of the range 1.2665-1.2610, with an effective break of 35 points and a stop loss at the upper limit of the range.
USD/CHF: You can sell within the upper limit of the range of 0.8995-0.8955, with an effective break of 25 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 149.60 to 148.45, 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 0.6395 to 0.6335, with an effective break of 25 points to stop loss, and the target is at the upper limit of the range.
USD/CAD: You can sell at the upper limit of the range from 1.4260 to 1.4185, with an effective break of 30 points and a stop loss at the lower limit of the range.
Gold: can be sold at the upper limit of the range of 2950.00-2916.00, with an effective break of $10 stop loss and a target at the lower limit of the range.
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