12.23 Short term trading strategy for foreign exchange currencies

2024-12-23 1919

Technically speaking, the US dollar index encountered resistance when rising below 108.55 last Friday, and was supported when falling above 107.55, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 108.25 today, the target for future decline will be between 107.25-106.95. Today, the short-term resistance of the US Composite Index is between 107.90 and 107.95, with important short-term resistance ranging from 108.20 to 108.25. Today, the short-term support for the US Composite Index ranges from 107.25 to 107.30, with important short-term support at 106.95 to 107.00.

Last Friday, EURUSD fell above 1.0340 and received support, while its rise below 1.0450 was blocked, indicating that EURUSD may maintain its upward trend after a short-term decline. If EURUSD stabilizes after falling above 1.0375 today, the target for future gains will be between 1.0480 and 1.0515. Today, the short-term resistance of EURUSD is between 1.0475 and 1.0480, with important short-term resistance at 1.0510-1.0515. Today, the short-term support for EURUSD is between 1.0410 and 1.0415, with important short-term support between 1.0375 and 1.0380.

Gold received support for its decline above 2589.00 last Friday, while its rise encountered resistance below 2632.00, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2601.00 today, the target for future gains will be between 2644.00 and 2659.00. Today, the short-term resistance of gold is between 2643.00 and 2644.00, and the important short-term resistance is between 2658.00 and 2659.00. Today, the short-term support for gold is at 2616.00-2617.00, and the important short-term support is at 2601.00-2602.00.

The short-term strategy for the US dollar today is mainly to short sell at high prices, with stop loss at break levels. 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 sold at the upper limit of the range of 108.25-107.25, with an effective break of 30 points to stop loss, and the target is at the lower limit of the range.

EUR/USD: You can buy at the lower limit of the range of 1.0480-1.0375, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.

GBP/USD: You can buy at the lower limit of the range 1.2650-1.2515, with an effective break of 40 points and a stop loss at the upper limit of the range.

USD/CHF: You can sell at the upper limit of the range of 0.8970-0.8890, with an effective break of 40 points and a stop loss at the lower limit of the range.

USD/JPY: You can buy at the lower limit of the range from 157.30 to 155.35, 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 buy at the lower limit of the range from 0.6290 to 0.6230, with an effective break of 40 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 1.4415 to 1.4315, with an effective break of 40 points and a stop loss at the lower limit of the range.

Gold: You can buy at the lower limit of the range from 2644.00 to 2601.00, with an effective stop loss of $10 and a target at the upper limit of the range.

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