Short term trading strategy for major foreign exchange currencies on May 6th
Technically speaking, the US dollar index encountered resistance on Monday when it rose below 100.10, and was supported when it fell above 99.45, indicating that the US dollar may maintain its downward trend after a short-term rise. If the US Composite Index encounters resistance below 100.10 today, the target for future decline will be between 99.50-99.15. Today, the short-term resistance of the US dollar index is between 100.05 and 100.10. The important short-term resistance is between 100.35 and 100.40. The short-term support of the US dollar index is between 99.50 and 99.95. The important short-term support is between 99.15 and 99.20
The EUR/USD fell above 1.1290 on Monday and received support, while its rise was blocked below 1.1365, indicating that it may maintain its upward trend after a short-term decline. If today's decline stabilizes above 1.1280, the target for future gains will be between 1.1355-1.1395. Today's short-term resistance is between 1.1350 and 1.1355. The important short-term resistance is between 1.1390 and 1.1395. Today's short-term support is between 1.1280 and 1.1285. The important short-term support is between 1.1250 and 1.1255
Gold was supported on Monday when it fell above 3232.00, but encountered resistance when it rose below 3338.00, indicating that gold may maintain its upward trend after a short-term decline. If gold stabilizes above 3297.00 today, the target for future gains will be between 3363.00 and 3403.00. Today, the short-term resistance in Europe and America is between 3362.00 and 3363.00. The important short-term resistance is between 3402.00 and 3403.00. The short-term support in Europe and America is between 3297.00 and 3298.00. The important short-term support is between 3258.00 and 3259.00
The short-term strategy for the US dollar today is mainly to short sell at high prices, with stop loss at break levels. 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 sold at the upper limit of the range of 100.10-99.50, with an effective break of 30 points to stop loss, and the target is at the lower limit of the range.
EUR/USD: You can buy at the lower limit of the range 1.1355-1.1285, effectively breaking the 35 point stop loss and targeting the upper limit of the range.
GBP/USD: You can buy at the lower limit of the range from 1.3330 to 1.3255, with an effective break of 40 points and a stop loss at the upper limit of the range.
USD/CHF: You can sell within the upper limit of the range of 0.8265-0.8205, with an effective break of 35 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 144.80 to 143.30, with an effective break of 40 points and a stop loss at the lower limit of the range.
AUD/USD: You can buy at the lower limit of the range of 0.6495 to 0.6435, 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 sell at the upper limit of the range from 1.3835 to 1.3790, with an effective break of 30 points and a stop loss at the lower limit of the range.
Gold: You can buy at the lower limit of the range from 3363.00 to 3298.00, with an effective stop loss of $20 and a target at the upper limit of the range.
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