2.28 Short term trading strategy for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance below 107.30 on Thursday and was supported above 106.40, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 106.95 today, the target for future gains will be between 107.55 and 107.85. Today, the short-term resistance of the US index is between 107.50 and 107.55. The important short-term resistance is between 107.80 and 107.85. The short-term support of the US index is between 106.95 and 107.00. The important short-term support is between 106.65 and 106.70
The EUR/USD fell above 1.0400 on Thursday and received support, while its rise was blocked below 1.0495, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0435, the target for future decline will be between 1.0370-1.0340. Today's short-term resistance is between 1.0430 and 1.0435. The important short-term resistance is between 1.0460 and 1.0465. The short-term support is between 1.0370 and 1.0375. The important short-term support is between 1.0340 and 1.0345
Gold's decline above 2867.00 on Thursday was supported, while its rise below 2921.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2890.00 today, the target for future decline will be between 2857.00 and 2836.00. Today, the short-term resistance of gold is between 2889.00 and 2890.00. The important short-term resistance is between 2910.00 and 2911.00. The short-term support for gold is between 2857.00 and 2858.00. The important short-term support is between 2836.00 and 28337.00
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 of 107.55-106.95, 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 1.0435 to 1.0370, effectively breaking the 35 point stop loss and targeting the lower limit of the range.
GBP/USD: You can sell within the upper limit of the range of 1.2635 to 1.2575, with an effective stop loss of 35 points below the level, and the target is at the lower limit of the range.
USD/CHF: You can buy at the lower limit of the range from 0.9025 to 0.8955, with an effective break of 35 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 150.45 to 149.55, 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 0.6265-0.6215, 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 of 1.4490 to 1.4400, with an effective break of 40 points to stop loss, and the target is at the upper limit of the range.
Gold: can be sold at the upper limit of the range of 2890.00-2857.00, effectively breaking the $10 stop loss, with the target at the lower limit of the range.
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