3.21 Short term trading strategy for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance below 104.15 on Thursday and was supported above 103.30, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 103.40 today, the target for future gains will be between 104.25 and 104.60. Today, the short-term resistance of the US index is between 104.20 and 104.25. The important short-term resistance is between 104.55 and 104.60. The short-term support of the US index is between 103.40 and 103.45. The important short-term support is between 102.95 and 103.00
The EUR/USD fell above 1.0815 on Thursday and received support, while its rise was blocked below 1.0920, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0905, the target for future decline will be between 1.0800 and 1.0755. Today's short-term resistance is 1.0900-1.0905. The important short-term resistance is 1.0960-1.0965. Today's short-term support is between 1.0800-1.0805. The important short-term support is between 1.0755-1.0760
Gold's decline above 3025.00 on Thursday was supported, while its rise below 3058.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 3059.00 today, the target for future decline will be between 3026.00 and 30-1010.00. Today, the short-term resistance of gold is between 3058.00 and 3059.00. The important short-term resistance is between 3073.00 and 3074.00. The short-term support for gold is between 3026.00 and 3027.00. The important short-term support is between 3010.00 and 3011.00
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 104.25-103.40, 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 1.0905 to 1.0805, 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 from 1.3005 to 1.2925, with an effective break of 30 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 0.8855 to 0.8770, with an effective break of 40 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 149.15 to 148.35, with an effective break of 40 points and a stop loss at the lower limit of the range.
AUD/USD: You can sell at the upper limit of the range of 0.6355-0.6260, with an effective stop loss of 40 points below the level, and the target is at the lower limit of the range.
USD/CAD: You can buy at the lower limit of the range of 1.4385 to 1.4295, 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 from 3059.00 to 3026.00, with an effective stop loss of $10 and a target at the lower limit of the range.
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