12.31 Short term trading strategies for major foreign exchange currencies

2024-12-31 1529

Technically speaking, the US dollar index encountered resistance on Monday when it rose below 108.40, and was supported when it fell above 107.70, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 108.45 today, the target for future decline will be between 107.75-107.45. Today, the short-term resistance of the US Composite Index is between 108.40 and 108.45, with important short-term resistance ranging from 108.70 to 108.75. Today, the short-term support for the US Composite Index is between 107.75 and 107.80, with important short-term support ranging from 107.45 to 107.50.

The EURUSD fell above 1.0370 on Monday and received support, while its rise was blocked below 1.0460, indicating that EURUSD may maintain its downward trend after a short-term rise. If the EURUSD rises below 1.0450 today and encounters resistance, the target for future decline will be between 1.0360-1.0320. Today, the short-term resistance of EURUSD is between 1.0445-1.0450, and the important short-term resistance is between 1.0490-1.0495. Today, the short-term support for EURUSD is at 1.0360-1.0365, with important short-term support at 1.0320-1.0325.

Gold was supported on Monday when it fell above 2596.00, but encountered resistance when it rose below 2628.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2625.00 today, the target for future decline will be between 2592.00 and 2578.00. Today, the short-term resistance of gold is between 2624.00 and 2625.00, and the important short-term resistance is between 2642.00 and 2643.00. Today, the short-term support for gold is at 2592.00-2593.00, and the important short-term support is at 2578.00-2579.00.

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 108.45-107.75, 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 sell within the upper limit of the range of 1.0450-1.0360, effectively breaking the 40 point stop loss and targeting the lower limit of the range.

GBP/USD: You can buy at the lower limit of the range 1.2600-1.2495, with an effective break of 40 points and a stop loss at the upper limit of the range.

USD/CHF: You can buy at the lower limit of the range from 0.9075 to 0.9010, with an effective break of 35 points and a stop loss at the upper limit of the range.

USD/JPY: You can sell within the upper limit of the range of 157.90 to 156.50, 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 from 0.6245 to 0.6200, with an effective break of 25 points and a stop loss at the upper limit of the range.

USD/CAD: You can sell within the upper limit of the range of 1.4415 to 1.4325, with an effective break of 40 points and a stop loss at the lower limit of the range.

Gold: can be sold at the upper limit of the range of 2625.00-2592.00, effectively breaking the $10 stop loss, with the target at the lower limit of the range.

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