2.6 Short term trading strategies for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance on Wednesday when it rose below 108.10, and was supported when it fell above 107.25, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 108.00 today, the target for future decline will be between 107.20 and 106.85. Today, the short-term resistance of the US index is between 107.95 and 108.00. The important short-term resistance is between 108.40 and 108.45. The short-term support of the US index is between 107.20 and 107.25. The important short-term support is between 106.85 and 106.90
The EUR/USD fell above 1.0370 on Wednesday and received support, while its rise was blocked below 1.0445, 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 1.0445 and 1.0480. Today's short-term resistance is between 1.0440 and 1.0445. The important short-term resistance is between 1.0475 and 1.0480. The short-term support is between 1.0370 and 1.0375. The important short-term support is between 1.0330 and 1.0335
Gold's decline above 2839.00 on Wednesday was supported, while its rise below 2883.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2841.00 today, the target for future gains will be between 2884.00 and 2905.00. Today, the short-term resistance of gold is between 2883.00 and 2884.00. The important short-term resistance is between 2904.00 and 2905.00. The short-term support for gold is between 2841.00 and 2842.00. The important short-term support is between 2818.00 and 2819.00
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 108.00 to 107.20, 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 1.0445-1.0370, 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 1.2550-1.2460, 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 within the upper limit of the range of 0.9045-0.8985, with an effective break of 35 points and a stop loss at the lower limit of the range.
USD/JPY: You can sell within the upper limit of the range of 153.55-151.65, with an effective break of 40 points to stop loss, and the target is at the lower 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 1.4350-1.4275, with an effective break of 35 points and a stop loss at the lower limit of the range.
Gold: You can buy at the lower limit of the range from 2884.00 to 2841.00, with an effective break of $10 to stop loss, and the target is at the upper limit of the range.
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