Short term trading strategies for major foreign exchange currencies on March 24th
Technically speaking, the US dollar index encountered resistance in its rise below 104.25 last Friday, while its decline above 103.75 was supported, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 103.80 today, the target for future gains will be between 104.30 and 104.50. Today, the short-term resistance of the US index is between 104.25 and 104.30. The important short-term resistance is between 104.45 and 104.50. The short-term support of the US index is between 103.80 and 103.85. The important short-term support is between 103.55 and 103.60
The EUR/USD fell above 1.0795 last Friday and received support, while its rise was blocked below 1.0865, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0960, the target for future decline will be between 1.0790 and 1.0760. Today's short-term resistance is between 1.0855 and 1.0860. The important short-term resistance is between 1.0885 and 1.0890. The short-term support is between 1.0790 and 1.0795. The important short-term support is between 1.0760 and 1.0765. Gold fell above 2999.00 last Friday and was supported, while its rise was blocked below 3048.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 3044.00 today, the target for future decline will be between 2995.00 and 2973.00. Today, the short-term resistance of gold is between 3043.00 and 3044.00. The important short-term resistance is between 3069.00 and 3070.00. The short-term support for gold is between 2995.00 and 2996.00. The important short-term support is between 2973.00 and 2974.00
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 104.30-103.80, 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 1.0855-1.0790, 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 1.2970-1.2885, 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 0.8850 to 0.8805, 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 of 149.75-148.65, 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 0.6300-0.6250, 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 from 1.4380 to 1.4315, with an effective break of 35 points and a stop loss at the upper limit of the range.
Gold: can be sold at the upper limit of the range from 3044.00 to 2995.00, with an effective stop loss of $10 and a target at the lower limit of the range.
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