‌Short-term Trading Strategies for Major Forex Currencies on April 28th

2025-04-28 2049

Technical Analysis and Trading Strategies for April 28th‌:

From a technical perspective, the US Dollar Index (DXY) encountered resistance below 99.90 on Friday and found support above 99.20, suggesting a potential continuation of the downward trend after a short-term rally. If the DXY encounters resistance below 99.85 today, the subsequent downside target will be between 99.15 and 98.85. Today's short-term resistance for the DXY is at 99.80-99.85, with important short-term resistance at 100.15-100.20. Today's short-term support for the DXY is at 99.15-99.20, with important short-term support at 98.85-98.90.

EUR/USD found support above 1.1315 on Friday and encountered resistance below 1.1400, indicating a potential continuation of the upward trend after a short-term decline. If EUR/USD stabilizes above 1.1330 today, the subsequent upside target will be between 1.1415 and 1.1450. Today's short-term resistance for EUR/USD is at 1.1410-1.1415, with important short-term resistance at 1.1445-1.1450. Today's short-term support for EUR/USD is at 1.1330-1.1335, with important short-term support at 1.1280-1.1285.

Gold found support above 3264.00 on Friday and encountered resistance below 3371.00, suggesting a potential continuation of the upward trend after a short-term decline in EUR/USD terms (note: the direct correlation between gold and EUR/USD movements was not explicitly stated in the original text, but the context implies a similar trend for both). If gold stabilizes above 3245.00 today, the subsequent upside target will be between 3352.00 and 3414.00. Today's short-term resistance for gold (in EUR/USD terms, but applicable to gold prices as well) is at 3351.00-3352.00, with important short-term resistance at 3413.00-3414.00. Today's short-term support for gold is at 3245.00-3346.00 (note: the lower end of this range may be adjusted to more closely reflect gold's support level), with important short-term support at 3202.00-3203.00.

General Trading Strategy for Today‌:

The US Dollar should be traded primarily on a short-term bearish basis today, with stop losses set above key breakout levels. Set profit-taking levels at 30 points or more and withdraw any unfilled pending orders before the US market opens. This strategy is suitable for margin trading and can be used as a reference for actual trading accounts.

Specific Trading Recommendations‌:

  • US Dollar Index (DXY)‌: Sell at the upper limit of the 99.85-99.15 range, with a stop loss of 30 points if the range is effectively broken. The target is the lower limit of the range.
  • EUR/USD‌: Buy at the lower limit of the 1.1415-1.1330 range, with a stop loss of 40 points if the range is effectively broken. The target is the upper limit of the range.
  • GBP/USD‌: Buy at the lower limit of the 1.3360-1.3285 range, with a stop loss of 40 points if the range is effectively broken. The target is the upper limit of the range.
  • USD/CHF‌: Sell at the upper limit of the 0.8320-0.8240 range, with a stop loss of 40 points if the range is effectively broken. The target is the lower limit of the range.
  • USD/JPY‌: Sell at the upper limit of the 144.25-142.70 range, with a stop loss of 40 points if the range is effectively broken. The target is the lower limit of the range.
  • AUD/USD‌: Buy at the lower limit of the 0.6425-0.6380 range, with a stop loss of 30 points if the range is effectively broken. The target is the upper limit of the range.
  • USD/CAD‌: Sell at the upper limit of the 1.3890-1.3835 range, with a stop loss of 40 points if the range is effectively broken. The target is the lower limit of the range.
  • Gold‌: Buy at the lower limit of the 3351.00-3245.00 range, with a stop loss of $20 if the range is effectively broken. The target is the upper limit of the range.
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