2.27 Short term trading strategy for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance when rising below 106.65 on Wednesday, and was supported when falling above 106.15, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.15 today, the target for future gains will be between 106.70-106.90. Today, the short-term resistance of the US index is between 106.65 and 106.70. The important short-term resistance is between 106.85 and 106.90. The short-term support of the US index is between 106.15 and 106.20. The important short-term support is between 105.90 and 105.95
The EUR/USD fell above 1.0475 on Wednesday and received support, while its rise was blocked below 1.0530, indicating that it may maintain its upward trend after a short-term decline. If today's decline stabilizes above 1.0465, the target for future gains will be between 1.0525-1.0555. Today's short-term resistance is at 1.0520-1.0525. The important short-term resistance is at 1.0550-1.0555. Today's short-term support is at 1.0465-1.0470. The important short-term support is at 1.0445-1.0450
Gold was supported on Wednesday when it fell above 2890.00, but encountered resistance when it rose below 2930.00, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2933.00 today, the target for future decline will be between 2893.00 and 2872.00. Today, the short-term resistance of gold is between 2932.00 and 2933.00. The important short-term resistance is between 2950.00 and 2951.00. The short-term support for gold is between 2893.00 and 2894.00. The important short-term support is between 2872.00 and 2873.00
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 106.70-106.15, 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 buy at the lower limit of the range from 1.0525 to 1.0465, effectively breaking the 30 point stop loss and targeting the upper limit of the range.
GBP/USD: You can buy at the lower limit of the range 1.2725-1.2645, 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 buy at the lower limit of the range from 0.8965 to 0.8915, with an effective break of 30 points and a stop loss at the upper limit of the range.
USD/JPY: You can sell within the upper limit of the range of 149.60 to 148.35, with an effective break of 40 points and a stop loss at the lower limit of the range.
AUD/USD: You can sell within the upper limit of the range of 0.6345-0.6285, 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 1.4370 to 1.4300, with an effective break of 40 points and a stop loss at the upper limit of the range.
Gold: It can be sold at the upper limit of the range of 2933.00 to 2893.00, with an effective stop loss of $10 and a target at the lower limit of the range.
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