2.26 Short term trading strategies for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance on Tuesday when it rose below 106.80, and was supported when it fell above 106.15, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.05 today, the target for future gains will be between 106.70-107.05. Today, the short-term resistance of the US Composite Index is between 106.65 and 106.70, with important short-term resistance ranging from 107.00 to 107.05. Today, the short-term support for the US Composite Index is between 106.05 and 106.10, with important short-term support ranging from 105.80 to 105.85.
The EUR/USD fell above 1.0455 on Tuesday and received support, while its rise was blocked below 1.0520, indicating that it may maintain its upward trend after a short-term decline. If today's decline stabilizes above 1.04700, the target for future upward movement will be between 1.0535 and 1.0560. Today, the short-term resistance is between 1.0530-1.0535, 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 1.0430-1.0435.
Gold's decline above 2888.00 on Tuesday was supported, while its rise below 2954.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2948.00 today, the target for future decline will be between 2882.00 and 2852.00. Today, the short-term resistance of gold is between 2918.00 and 2919.00, and the important short-term resistance is between 2947.00 and 2948.00. Today, the short-term support for gold is at 2882.00-2883.00, and the important short-term support is at 2852.00-2853.00.
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 107.05-106.05, with an effective break of 30 points to stop loss, and the target is at the upper limit of the range.
EUR/USD: You can buy at the lower limit of the 1.0560-1.0470 range, effectively breaking the 40 point stop loss and targeting the upper limit of the range.
GBP/USD: You can sell at the upper limit of the range 1.2695-1.2580, with an effective break of 40 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 0.9005 to 0.8895, 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 150.10 to 148.35, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
AUD/USD: You can sell within the upper limit of the range of 0.6360-0.6305, with an effective break of 30 points to stop loss, and the target is at the lower limit of the range.
USD/CAD: You can buy at the lower limit of the range 1.4360-1.4260, with an effective break of 40 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 2948.00 to 2882.00, with an effective stop loss of $10 and a target at the lower limit of the range.
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