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Foreign Exchange Practical Strategy on October 8th

2023-10-08 09:46

Summary:US dollar index: The US dollar index encountered resistance in its rise below 106.90 on Thursday, while its decline above 106.30 was supported, indicating that the US dollar may maintain a downward trend after a short-term rise. If the US Index's rise is hindered below 106.70 today, the target for future decline will be between 106.15 and 105.95.

US dollar index: The US dollar index encountered resistance in its rise below 106.90 on Thursday, while its decline above 106.30 was supported, indicating that the US dollar may maintain a downward trend after a short-term rise. If the US Index's rise is hindered below 106.70 today, the target for future decline will be between 106.15 and 105.95. Today, the short-term resistance of the US Index is between 106.50 and 106.55, with significant short-term resistance between 106.65 and 106.70. Today, the short-term support for the US Index is between 106.15 and 106.20, with significant short-term support between 105.95 and 106.00.

EUR/USD: Europe and the United States were supported by a decline above 1.0500 on Thursday, while an increase below 1.0555 was hindered, indicating that they may maintain an upward trend after a short-term decline in Europe and the United States. If Europe and America fall above 1.0515 today and receive support, the target for future gains will be between 1.0570 and 1.0585. Today, the short-term resistance in Europe and America is between 1.0565 and 1.0570, and the important short-term resistance is between 1.0580 and 1.0585. Today, short-term support in Europe and America is between 1.0530 and 1.0535, with important short-term support between 1.0515 and 1.0520.

Euro/USD operating strategy: If it falls between 1.0515 and 1.0525, you can buy, with a stop loss below 1.0480 and a target of 1.0565-1.0570 and 1.0580-1.0585.

GBP/USD operating strategy: If it falls between 1.2135 and 1.2145, you can buy, with a stop loss below 1.2075 and a target of 1.2220 to 1.2225 and 1.2250 to 1.2255.

AUD/USD operating strategy: If it falls between 0.6335-0.6345, you can buy, with a stop loss below 0.6300 and a target of 0.6390-0.6395, 0.6410-0.6415.

USD/CAD operation strategy: If it rises between 1.3755 and 1.3765, it can be sold, with a stop loss of 1.3815 or above, and a target of 1.3685-1.3690 and 1.3655-1.3660.

Summary of orders made on October 5th: The US dollar/Canadian dollar successfully shorted and established positions between 1.3780 and 1.3790, with a minimum drop to 1.3705 and a short-term profit margin of 70-80 points. The long direction of EUR/USD, GBP/USD, and AUD is correct, but they have not reached the range of position building prices.

Please note that if the strategy for the day first achieves the expected closing goal, stable investors can abandon the operational plan for the day. When implementing this strategy, investors can start placing corresponding positions 5-10 points in advance, but the stop loss price should be strictly executed.

According to this strategy, when there is a profit of more than 30 points, please ensure parity protection and profit taking. Do not turn a profit order into a loss order.

Warehouse building standard: The risk tolerance is below 20%, and 0.1 orders per 2000 US dollars are sufficient; The risk tolerance is between 20% -50%, and 0.1 orders per 1000 US dollars are sufficient; If the risk tolerance exceeds 50%, it is sufficient to place orders of 0.2-0.3 orders per 1000 US dollars

Source:Aihuicha

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