Short term trading strategy for major foreign exchange currencies on May 5th

2025-05-05 1357

Technically speaking, the US dollar index encountered resistance when rising below 100.35 last Friday, and was supported when falling above 99.35, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 99.50 today, the target for future gains will be between 100.45 and 100.85. Today, the short-term resistance of the US index is between 100.40 and 100.45. The important short-term resistance is between 100.80 and 100.85. The short-term support of the US index is between 99.50 and 99.55. The important short-term support is between 99.00 and 99.05

Last Friday, the decline in Europe and the United States above 1.1270 was supported, while the rise below 1.1380 encountered resistance, indicating that the short-term decline in Europe and the United States may maintain an upward trend. If the decline in Europe and America stabilizes above 1.1255 today, the target for future gains will be between 1.1365 and 1.1425. Today, the short-term resistance in Europe and America is between 1.1360 and 1.1365. The important short-term resistance is between 1.1420 and 1.1425. The short-term support in Europe and America is between 1.1255 and 1.1260. The important short-term support is between 1.1210 and 1.1215

Gold's decline above 3222.00 last Friday was supported, while its rise below 3270.00 encountered resistance, indicating that gold may maintain its downward trend after a short-term rise. If gold encounters resistance below 3256.00 today, the target for future decline will be between 3209.00-3192.00. Today, the short-term resistance in Europe and America is between 3255.00 and 3256.00. The important short-term resistance is between 3285.00 and 3286.00. The short-term support in Europe and America is between 3209.00 and 3210.00. The important short-term support is between 3192.00 and 31993.00

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: You can buy at the lower limit of the range from 100.45 to 99.50, 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 buy at the lower limit of the range 1.1365-1.1255, effectively breaking the 40 point stop loss and targeting the upper limit of the range.

GBP/USD: You can buy at the lower limit of the range from 1.3315 to 1.3250, 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 from 0.8325 to 0.8215, with an effective break of 40 points and a stop loss at the upper limit of the range.

USD/JPY: You can buy at the lower limit of the range of 146.05-143.85, 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 of 0.6485 to 0.6390, with an effective break of 30 points to stop loss, and the target is at the upper limit of the range.

USD/CAD: You can buy at the lower limit of the range from 1.3855 to 1.3755, 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 3256.00 to 3209.00, with an effective stop loss of $20 and a target at the lower limit of the range.

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