1.21 Short term trading strategy for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance on Monday when it rose below 109.50, and was supported when it fell above 107.90, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 108.50 today, the target for future decline will be between 107.45 and 106.90. Today, the short-term resistance of the US Composite Index is between 108.45 and 108.50, with important short-term resistance ranging from 109.00 to 109.05. Today, the short-term support for the US Composite Index is between 107.45 and 107.50, with important short-term support ranging from 106.90 to 106.95.
The EUR/USD fell above 1.0265 on Monday and received support, while its rise was blocked below 1.0435, indicating that it may maintain its upward trend after a short-term decline. If today's decline stabilizes above 1.0370, the target for future upward movement will be between 1.0485 and 1.0545. Today, the short-term resistance is between 1.0480-1.0485, and the important short-term resistance is between 1.0540-1.0545. Today's short-term support is at 1.0370-1.0375, and short-term important support is at 1.0310-1.0315.
Gold was supported on Monday when it fell above 2689.00, but encountered resistance when it rose below 2714.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2720.00 today, the target for future decline will be between 2695.00-2680.00. Today, the short-term resistance of gold is at 2719.00-2720.00, and the important short-term resistance is at 2728.00-2729.00. Today, the short-term support for gold is between 2695.00 and 2696.00, and the important short-term support is between 2680.00 and 2685.00.
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 108.50-107.45, with an effective break of 30 points and a stop loss at the lower limit of the range.
EUR/USD: You can buy at the lower limit of the range of 1.0480-1.0370, effectively breaking the 40 point stop loss and targeting the upper limit of the range.
GBP/USD: You can buy at the lower limit of the range from 1.2400 to 1.2280, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
USD/CHF: You can sell at the upper limit of the range from 0.9095 to 0.9030, with an effective break of 30 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 156.35 to 155.15, 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 0.6310-0.6250, with an effective break of 35 points to stop loss, and the target is at the upper limit of the range.
USD/CAD: You can sell at the upper limit of the range 1.4350-1.4215, 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 2720.00-2685.00, with an effective break of $10 stop loss and a target at the lower limit of the range.
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