3.3 Short term trading strategies for major foreign exchange currencies

2025-03-03 1592

Technically speaking, the US dollar index encountered resistance when rising below 107.70 last Friday, and was supported when falling above 107.15, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 107.30 today, the target for future gains will be between 107.80 and 108.00. Today, the short-term resistance of the US index is between 107.75 and 107.80. The important short-term resistance is between 107.95 and 108.00. The short-term support of the US index is between 107.30 and 107.35. The important short-term support is between 107.00 and 107.05

Last Friday, the EUR/USD fell above 1.0360 and received support, while its rise below 1.0420 encountered resistance, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0410, the target for future decline will be between 1.0345 and 1.0320. Today's short-term resistance is between 1.0405 and 1.0410. The important short-term resistance is between 1.0440 and 1.0445. The short-term support is between 1.0345 and 1.0350. The important short-term support is between 1.0320 and 1.0325

Gold's decline above 2832.00 last Friday was supported, while its rise below 2885.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2879.00 today, the target for future decline will be between 2826.00 and 2803.00. Today, the short-term resistance of gold is at 2878.00-2879.00. The important short-term resistance is at 2907.00-2908.00. The short-term support of gold is at 2826.00-2827.00. The important short-term support is at 2803.00-2804.00

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 107.80 to 107.30, 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 sell within the upper limit of the range of 1.0410 to 1.0345, effectively breaking the 40 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell at the upper limit of the range 1.2610-1.2545, 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 0.9055 to 0.9000, with an effective break of 35 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 151.35 to 150.20, 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 0.6230 to 0.6180, 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 of 1.4490 to 1.4415, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.

Gold: can be sold at the upper limit of the range of 2879.00 to 2826.00, with an effective stop loss of $10 and a target at the lower limit of the range.

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