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Tian Hongliang: The short-term trend of the US dollar stabilized and rebounded. The market may maintain a high level of shock.

March 15, 2019 08:32
source: Global Forex

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In the foreign exchange market on Thursday, the US dollar rebounded slightly after the correction. The US dollar index rose to 96.82, the lowest fell to 96.37, closing at 96.79. Europe and the United States rose to 1.1338, the lowest fell to 1.1294, closing at 1.1300.

Despite the poor performance of the latest initial jobless claims and new home sales data in the United States, the US dollar index remained capricious and rose to a high of 96.82. In the dollar recovery, the pound/dollar once fell more than 100 points. However, the subsequent vote of the British Parliament to postpone the departure from the EU marked a further step forward in the political crisis that swept the British parliamentary center. After the news came, the short-term shock of the GBP/USD was intensified, eventually achieving a shock rebound and recovering some of the lost ground during the day.

This week's vote ushered in a series of dramatic events that added more confusion to the entire Brexit process. On Tuesday, British Prime Minister Theresa May’s Brexit deal suffered a second humiliating defeat, which was rejected by a majority of 149 votes. On Wednesday, British lawmakers rejected the idea of ​​withdrawing from the EU without an exit agreement. On Thursday night, May and his government submitted a major motion, and the passage of the motion was a rare good news for her during this difficult week. It means that if the parliament approves a delay in the withdrawal of the EU before March 20, the parliament will approve the extension until June 30.

From a technical point of view, the US dollar index was supported above 96.35 on Thursday, and the rebound was blocked below 96.85, closing at 96.79, which means that the dollar may rebound after a short-term correction. If the US dollar index is supported above 96.50 today, the target of the rebound will point to 96.95-97.10. Today, the short-term resistance of the US dollar index is 96.90-96.95, and the short-term important resistance is 97.05-97.10. Today, the short-term support of the US dollar index is at 96.50-96.55, and the short-term important support is at 96.20-96.25. Europe and the United States rebounded below 1.1340 on Thursday, the callback was supported above 1.1290, closing at 1.1300, meaning that Europe and the United States may maintain a downward trend after a short-term rebound. If Europe and the United States rebound today under 1.1330, the market callback target will point to 1.1280-1.1270. Today, the short-term resistance in Europe and America is 1.1325-1.1330, and the short-term important resistance is 1.1350-1.1355. Today, short-term support in Europe and America is at 1.1280-1.1285, and short-term important support is at 1.1265-1.1270.

Today, the US dollar is mainly short-term bargain-hunting. It breaks the stop loss. If there is a profit of 30 points or more, it will set a good stop to win. Before the US market opens, all pending orders withdrawn will be withdrawn. This strategy is suitable for margin and can be used as a reference.

US dollar index: You can buy at the lower limit of the range of 97.10-96.50, effectively break the 30-point stop loss and target the upper limit of the range.

EUR/USD: You can sell at the upper limit of 1.1330---1.1270, effectively break the 30-point stop loss and target the lower limit of the range.

GBP/USD: You can buy at the lower limit of 1.3340---1.3170, effectively break the 40-point stop loss and target the upper limit of the range.

USD/CHF: You can sell at the upper limit of the range of 1.0055---1.0015, effectively break the 20-point stop loss and target the lower limit of the range.

USD/JPY: You can buy at the lower limit of 112.30-111.30, effectively break the 40-point stop loss and target the upper limit of the range.

AUD/USD: You can sell at the upper limit of 0.7095---0.7010, effectively break the 35-point stop loss and target the lower limit of the range.

USD/CAD: You can buy at the lower limit of 1.3380---1.3290, effectively break the 40-point stop loss and target the upper limit of the range.

Gold: You can sell at the upper limit of the range of 1307.00---1289.00, effectively break the $5 stop loss, and the target is at the lower limit of the range.

Silver: You can sell at the upper limit of 15.40-15.00, effectively break the stop loss of $0.10, and target at the lower limit of the range.

(Article source: Global Forex Network)

                (Editor: DF398)

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