3.10 Short term trading strategies for major foreign exchange currencies

2025-03-10 1441

Technically speaking, the US dollar index encountered resistance in its rise below 104.30 last Friday, while its decline above 103.45 was supported, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 103.40 today, the target for future gains will be between 104.25 and 104.70. Today, the short-term resistance of the US index is between 104.20 and 104.25. The important short-term resistance is between 104.65 and 104.70. The short-term support of the US index is between 103.40 and 103.45. The important short-term support is between 103.00 and 103.05

The EUR/USD fell above 1.0775 last Friday and was supported, while its rise below 1.0890 was blocked, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0890, the target for future decline will be between 1.0775-1.0720. Today's short-term resistance is between 1.0885 and 1.0890. The important short-term resistance is between 1.0940 and 1.0945. The short-term support is between 1.0775 and 1.0780. The important short-term support is between 1.0720 and 1.0725

Gold's decline above 2896.00 last Friday was supported, while its rise below 2931.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 2925.00 today, the target for future decline will be between 2891.00 and 2877.00. Today, the short-term resistance of gold is between 2924.00 and 2925.00. The important short-term resistance is between 2944.00 and 2945.00. The short-term support for gold is between 2891.00 and 2892.00. The important short-term support is between 2877.00 and 2878.00

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 104.25-103.45, 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 1.0890-1.0775, effectively breaking the 40 point stop loss and targeting the lower limit of the range.

GBP/USD: Can be sold at the upper limit of the range 1.2955-1.2880, with an effective break of 40 points and a stop loss at the lower limit of the range.

USD/CHF: You can sell within the upper limit of the range of 0.8845-0.8765, with an effective break of 40 points and a stop loss at the lower limit of the range.

USD/JPY: You can buy at the lower limit of the range of 148.50-147.25, 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 0.6340-0.6280, 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 1.4435 to 1.4285, 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 2925.00-2891.00, effectively breaking the $10 stop loss, with the target at the lower limit of the range.

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