3.7 Short term trading strategies for major foreign exchange currencies

2025-03-07 1547

Technically speaking, the US dollar index encountered resistance below 104.40 on Thursday and was supported above 103.75, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 103.70 today, the target for future gains will be between 104.40 and 104.70. Today, the short-term resistance of the US index is between 104.35 and 104.40. The important short-term resistance is between 104.65 and 104.70. The short-term support of the US index is between 103.70 and 103.75. The important short-term support is between 103.40 and 103.45

The EUR/USD fell above 1.0765 on Thursday and received support, while its rise below 1.0855 was blocked, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0850, the target for future decline will be between 1.0760 and 1.0720. Today's short-term resistance is between 1.0845 and 1.0850. The important short-term resistance is between 1.0890 and 1.0895. Today's short-term support is between 1.0760 and 1.0765. The important short-term support is between 1.07200 and 1.0725

Gold's decline above 2891.00 on Thursday was supported, while its rise below 2927.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2930.00 today, the target for future decline will be between 2894.00 and 2875.00. Today, the short-term resistance of gold is between 2929.00 and 2930.00. The important short-term resistance is between 2945.00 and 2946.00. The short-term support for gold is between 2894.00 and 2895.00. The important short-term support is between 2875.00 and 2876.00

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 104.70 to 103.75, 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 1.0850-1.0720, 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 1.2925-1.2835, 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 of 0.8960-0.8790, with an effective break of 35 points to stop loss, and the target is at the upper limit of the range.

USD/JPY: You can sell within the upper limit of the range of 148.90 to 146.90, 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 0.6360-0.6315, with an effective break of 20 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 1.4375 to 1.4240, with an effective break of 40 points to stop loss, and the target is at the lower limit of the range.

Gold: can be sold at the upper limit of the range of 2930.00 to 2875.00, with an effective break of $10 stop loss and a target at the lower limit of the range.

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