Short term trading strategies for major currencies on November 21st
Technically speaking, the US dollar index encountered resistance on Wednesday when it rose below 106.95, and was supported when it fell above 106.05, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.20 today, the target for future upward movement will be between 107.05-107.40. Today, the short-term resistance of the US Composite Index is between 107.00 and 107.05, with important short-term resistance ranging from 107.35 to 107.40. Today, the short-term support for the US Composite Index is at 106.20-106.25, with important short-term support at 105.70-105.75. On Wednesday, the decline in Europe and the United States above 1.0505 was supported, while the rise below 1.0710 encountered resistance, indicating that the short-term rebound in Europe and the United States may maintain a downward trend. If the rebound in Europe and America today encounters resistance below 1.0600, the target for future market decline will be between 1.0495 and 1.0450. Today, the short-term resistance in Europe and America is between 1.0595 and 1.0600, and the important short-term resistance is between 1.0650 and 1.0655. Today, the short-term support for Europe and America is between 1.0495 and 1.0500, and the important short-term support is between 1.0450 and 1.0455. Gold's decline above 2618.00 on Wednesday was supported, while its rise below 2656.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term correction. If the pullback of gold stabilizes above 2628.00 today, the target for future upward movement will be between 2665.00-2679.00. Today, the short-term resistance of gold is between 2664.00 and 2665.00, and the important short-term resistance is between 2678.00 and 2679.00. Today, the short-term support for gold is between 2628.00 and 2629.00, with important short-term support between 2605.00 and 2606.00.
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 107.05-106.20, 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 1.0595-1.0495, 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 1.2695-1.2615, 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 0.8865 to 0.8820, with an effective break of 25 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 156.00 to 154.65, 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 0.6530-0.6470, with an effective break of 40 points to stop loss, and the target is at the lower limit of the range.
USD/CAD: You can sell at the upper limit of the range from 1.4015 to 1.3950, with an effective 35 point stop loss and a target at the lower limit of the range.
Gold: You can buy at the lower limit of the range of 2665.00-2628.00, effectively break the $10 stop loss, and target at the upper limit of the range.
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