3.13 Short term trading strategies for major foreign exchange currencies
Technically speaking, the US dollar index encountered resistance when rising below 103.80 on Wednesday, and was supported when falling above 103.30, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 103.85 today, the target for future decline will be between 103.35 and 103.10. Today, the short-term resistance of the US index is between 103.80 and 103.85. The important short-term resistance is between 104.00 and 104.05. The short-term support of the US index is between 103.35 and 103.40. The important short-term support is between 103.10 and 103.15
The EUR/USD fell above 1.0875 on Wednesday and received support, while its rise was blocked below 1.0935, indicating that it may maintain its upward trend after a short-term decline. If today's decline stabilizes above 1.0860, the target for future upward movement will be between 1.0920-1.0955. Today's short-term resistance is at 1.0915-1.0920. The important short-term resistance is at 1.0950-1.0955. The short-term support is at 1.0860-1.0865. The important short-term support is at 1.0840-1.0845
Gold was supported on Wednesday when it fell above 2905.00, but encountered resistance when it rose below 2941.00, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 2913.00 today, the target for future gains will be between 2949.00 and 2962.00. Today, the short-term resistance of gold is between 2948.00 and 2949.00. The important short-term resistance is between 2961.00 and 2962.00. The short-term support for gold is between 2913.00 and 2914.00. The important short-term support is between 2892.00 and 28993.00
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 103.85-103.35, with an effective break of 20 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 of 1.0920-1.0860, effectively breaking the 25 point stop loss and targeting the upper limit of the range.
GBP/USD: You can buy at the lower limit of the range from 1.3000 to 1.2925, with an effective break of 40 points and a stop loss at the upper limit of the range.
USD/CHF: You can buy at the lower limit of the range of 0.8850-0.8800, with an effective break of 30 points to stop loss, and the target is at the upper limit of the range.
USD/JPY: You can buy at the lower limit of the range of 149.15 to 147.65, 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 buy at the lower limit of the range from 0.6335 to 0.6290, with an effective break of 30 points and a stop loss at the upper limit of the range.
USD/CAD: You can sell at the upper limit of the range 1.4450-1.4315, with an effective break of 40 points and a stop loss at the lower limit of the range.
Gold: You can buy at the lower limit of the range from 2949.00 to 2914.00, with an effective stop loss of $10 and a target at the upper limit of the range.
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