1.23 Short term trading strategy for major foreign exchange currencies

2025-01-23 2457

Technically speaking, the US dollar index encountered resistance on Wednesday when it rose below 108.25, and was supported when it fell above 107.75, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 107.85 today, the target for future gains will be between 108.40 and 108.55. Today, the short-term resistance of the US Composite Index is between 108.35 and 108.40, with important short-term resistance ranging from 108.50 to 108.55. Today, the short-term support for the US Composite Index is at 107.85-107.90, with important short-term support at 107.55-107.60.

The EUR/USD fell above 1.0390 on Wednesday and received support, while its rise was blocked below 1.0460, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0455, the target for future decline will be between 1.0390 and 1.0360. Today, the short-term resistance is between 1.0450-1.0455, and the important short-term resistance is between 1.0485-1.0490. Today's short-term support ranges from 1.0390 to 1.0395, with important short-term support at 1.0360 to 1.0365.

Gold's decline above 2741.00 on Wednesday was supported, while its rise below 2764.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2743.00 today, the target for future gains will be between 2766.00 and 2776.00. Today, the short-term resistance of gold is between 2765.00-2766.00, and the important short-term resistance is between 2775.00-2776.00. Today, the short-term support for gold is at 2743.00-2744.00, and the important short-term support is at 2731.00-2732.00.

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 108.55-107.85, 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 1.0455-1.0360, effectively breaking the 35 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell at the upper limit of the range 1.2365-1.2270, 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 0.9100 to 0.9040, with an effective break of 30 points and a stop loss, targeting the upper limit of the range.

USD/JPY: You can buy at the lower limit of the range from 157.50 to 155.70, with an effective break of 40 points and a stop loss at the upper limit of the range.

AUD/USD: You can sell within the upper limit of the range of 0.6295 to 0.6235, with an effective break of 30 points and a stop loss at the lower limit of the range.

USD/CAD: You can buy at the lower limit of the range from 1.4445 to 1.4320, 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 2775.00-2743.00, effectively break the $10 stop loss, and target at the upper limit of the range.

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