1.6 Short term trading strategies for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance in its rise below 109.30 last Friday, while its decline above 108.85 was supported, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 109.20 today, the target for future decline will be between 108.75 and 108.60. Today, the short-term resistance of the US Composite Index is between 109.15 and 109.20, with important short-term resistance ranging from 109.45 to 109.50. Today, the short-term support for the US Composite Index is between 108.75 and 108.80, with important short-term support ranging from 108.60 to 108.65.
Last Friday, EURUSD fell above 1.0250 and received support, while its rise was blocked below 1.0310, indicating that EURUSD may maintain its upward trend after a short-term decline. If EURUSD stabilizes above 1.0265 today, the target for future gains will be between 1.0325-1.0345. Today, the short-term resistance of EURUSD is between 1.0320-1.0325, and the important short-term resistance is between 1.0340 and 1.0345. Today, the short-term support for EURUSD is between 1.0265-1.0270, and the important short-term support is between 1.0230-1.0235.
Gold was supported when it fell above 2636.00 last Friday, but encountered resistance when it rose below 2666.00, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2629.00 today, the target for future upward movement will be between 2658.00 and 2676.00. Today, the short-term resistance of gold is between 2657.00 and 2658.00, and the important short-term resistance is between 2675.00 and 2676.00. Today, the short-term support for gold is between 2629.00 and 2630.00, and the important short-term support is between 2618.00 and 2619.00.
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 109.20-108.65, 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 1.0345 to 1.0265, effectively breaking the 35 point stop loss and targeting the upper limit of the range.
GBP/USD: You can sell within the upper limit of the range of 1.2450-1.2390, with an effective break of 25 points and a stop loss at the lower limit of the range.
USD/CHF: You can sell within the upper limit of the range of 0.9120 to 0.9055, with an effective break of 30 points to stop loss, and the target is at the lower limit of the range.
USD/JPY: You can buy at the lower limit of the range from 157.60 to 156.85, with an effective break of 40 points and a stop loss at the upper limit of the range.
AUD/USD: You can buy at the lower limit of the range of 0.6240 to 0.6200, with an effective break of 20 points to stop loss, and the target is at the upper limit of the range.
USD/CAD: You can buy at the lower limit of the range from 1.4480 to 1.4400, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
Gold: You can buy at the lower limit of the range of 2658.00 to 2629.00, with an effective stop loss of $10 and a target at the upper limit of the range.
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