Short term trading guide for major currencies on March 20th

2025-03-20 1558

Technically speaking, the US dollar index encountered resistance on Wednesday when it rose below 103.90, and was supported when it fell above 103.20, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 103.10 today, the target for future gains will be between 103.85 and 104.20. Today, the short-term resistance of the US index is between 103.80 and 103.85. The important short-term resistance is between 104.15 and 104.20. The short-term support of the US index is between 103.10 and 103.15. The important short-term support is between 102.80 and 102.85

The EUR/USD fell above 1.0860 on Wednesday and received support, while its rise was blocked below 1.0950, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.0955, the target for future decline will be between 1.0860 and 1.0815. Today's short-term resistance is between 1.0950 and 1.0955. The important short-term resistance is between 1.0990 and 1.0995. The short-term support is between 1.0860 and 1.0865. The important short-term support is between 1.0815 and 1.0820

Gold's decline above 3022.00 on Wednesday was supported, while its rise below 3052.00 encountered resistance, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 3029.00 today, the target for future upward movement will be between 3059.00-3070.00. Today, the short-term resistance of gold is between 3058.00 and 3059.00. The important short-term resistance is between 3069.00 and 3070.00. The short-term support of gold is between 3029.00 and 3030.00. The important short-term support is between 3011.00 and 3012.00

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.

USD index: You can buy at the lower limit of the range of 103.85-103.15, 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 sell within the upper limit of the range of 1.0955-1.0860, effectively breaking the 40 point stop loss and targeting the lower limit of the range.

GBP/USD: You can sell at the upper limit of the range from 1.3030 to 1.2970, with an effective break of 30 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 0.8805 to 0.8755, with an effective break of 30 points and a stop loss at the lower limit of the range.

USD/JPY: You can sell within the upper limit of the range of 149.80 to 148.30, 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 0.6380-0.6330, with an effective break of 30 points to stop loss, and the target is at the lower limit of the range.

USD/CAD: You can buy at the lower limit of the range from 1.4345 to 1.4285, with an effective break of 30 points and a stop loss at the upper limit of the range.

Gold: You can buy at the lower limit of the range from 3059.00 to 3029.00, effectively break the $10 stop loss, and target at the upper limit of the range.

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