Short term trading strategy for major foreign exchange currencies on May 2nd

2025-05-02 2305

Technically speaking, the US dollar index encountered resistance below 100.40 on Thursday and was supported above 99.60, indicating that the US dollar may maintain its upward trend after a short-term decline. If the US Composite Index stabilizes above 99.75 today, the target for future gains will be between 100.55 and 100.85. Today, the short-term resistance of the US index is between 100.50 and 100.55. The important short-term resistance is between 100.80 and 100.85. The short-term support of the US index is between 100.05 and 100.10. The important short-term support is between 99.75 and 99.80

The EUR/USD fell above 1.1266 on Thursday and received support, while its rise was blocked below 1.1345, indicating that it may maintain a downward trend after a short-term rise. If today's rise encounters resistance below 1.1330, the target for future decline will be between 1.1250 and 1.1220. Today's short-term resistance is between 1.1295 and 1.1300. The important short-term resistance is between 1.1325 and 1.1330. The short-term support is between 1.1250 and 1.1255. The important short-term support is between 1.1220 and 1.1225

Gold's decline above 3202.00 on Thursday was supported, while its rise below 3298.00 encountered resistance, indicating that it may maintain a downward trend after short-term gains in Europe and the United States. If gold encounters resistance below 3281.00 today, the target for future decline will be between 3184.00 and 3145.00. Today, the short-term resistance in Europe and America is at 3241.00-3242.00. The important short-term resistance is at 3281.00-3282.00. The short-term support in Europe and America is at 3184.00-3185.00. The important short-term support is at 3145.00-3146.00

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 100.55-99.80, 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 at the upper limit of the range 1.1330-1.1255, 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 1.3330-1.3245, with an effective break of 40 points and a stop loss at the lower limit of the range.

USD/CHF: You can buy at the lower limit of the range from 0.8350 to 0.8270, 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 146.65-144.75, 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 0.6455-0.6360, with an effective break of 30 points and a stop loss, targeting the upper limit of the range.

USD/CAD: You can buy at the lower limit of the range of 1.3880-1.3800, 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 3281.00 to 3184.00, with an effective stop loss of $20 and a target at the lower limit of the range.

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