2.7 Short term trading strategies for major foreign exchange currencies

2025-02-07 2950

Technically speaking, the US dollar index encountered resistance on Thursday when it rose below 108.10, and was supported when it fell above 107.50, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 107.40 today, the target for future gains will be between 108.05 and 108.35. Today, the short-term resistance of the US index is at 108.00-108.05. The important short-term resistance is at 108.30-108.35. The short-term support of the US index is at 107.40-107.45. The important short-term support is at 107.20-107.25

The EUR/USD fell above 1.0350 on Thursday and received support, while its rise was blocked below 1.0410, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0410, the target for future decline will be between 1.0355 and 1.0325. Today's short-term resistance is between 1.0405 and 1.0410. The important short-term resistance is between 1.0430 and 1.0435. The short-term support is between 1.0355 and 1.0360. The important short-term support is between 1.0325 and 1.0330

Gold's decline above 2834.00 on Thursday was supported, while its rise below 2874.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2874.00 today, the target for future decline will be between 2834.00-2814.00. Today, the short-term resistance of gold is at 2873.00-2874.00. The important short-term resistance is at 2892.00-2893.00. The short-term support of gold is at 2834.00-2835.00. The important short-term support is at 2814.00-2815.00

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 108.35-107.45, 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 1.0410 to 1.0330, effectively breaking the 40 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell within the upper limit of the range of 1.2510-1.2290, 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 0.9095 to 0.9020, with an effective break of 40 points and a stop loss at the upper limit of the range.

USD/JPY: You can buy at the lower limit of the range from 151.85 to 150.20, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.

AUD/USD: You can sell within the upper limit of the range of 0.6295-0.6245, with an effective break of 20 points and a stop loss at the lower limit of the range.

USD/CAD: You can buy at the lower limit of the range of 1.4395-1.4290, with an effective break of 40 points and a stop loss at the upper limit of the range.

Gold: can be sold at the upper limit of the range of 2874.00 to 2815.00, with an effective stop loss of $10 and a target at the lower limit of the range.

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