Short term trading strategy for major foreign exchange currencies on May 2nd
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.
Tips:This page came from Internet, which is not standing for FXCUE opinions of this website.
Statement:Contact us if the content violates the law or your rights