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Foreign exchange practical strategy on October 23

Wonderful introduction:

One person’s happiness may be fake, but the happiness of a group of people can no longer distinguish between true and false. They squandered their youth to their heart's content, wishing they could burn it all away. Their posture was like a carnival before the end of the world.

Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Review]: October 23rd Practical Foreign Exchange Strategy". Hope this helps you! The original content is as follows:

U.S. Dollar Index: The U.S. index’s rise on Wednesday was blocked below 99.15, and its decline was supported above 98.75, which means that the U.S. dollar is likely to maintain an upward trend after a short-term decline. If the U.S. index falls and stabilizes above 98.70 today, the target for the market outlook will be between 99.10 and 99.30. Today, the short-term resistance of the US dollar index is at 99.05--99.10, and the important short-term resistance is at 99.25--99.30. Today, the short-term support of the U.S. index is at 98.70--98.75, and the important short-term support is at 98.55--98.60.

EUR/USD: Europe and the United States fell on Wednesday and were supported above 1.1575, while rising were blocked below 1.1625, which means that Europe and the United States are likely to maintain an upward trend after short-term declines. If Europe and the United States fall below 1.1580 and stabilize above 1.1580 today, the target for the market outlook will be between 1.1630 and 1.1550. Today, the short-term resistance in Europe and the United States is at 1.1625--1.1630, and the important short-term resistance is at 1.1645--1.1650. Today, the short-term support in Europe and the United States is at 1.1580--1.1585, and the important short-term support is at 1.1555--1.1560.

Gold: Gold fell on Wednesday and was supported above 4004.00, while its rise was blocked below 4162.00, which means that gold is likely to maintain a downward trend after a short-term rise. If gold's rise today encounters resistance below 4158.00, the target for the market outlook's decline will be between 4000.00--3923.00. Today, the short-term resistance of gold is 4157.00--4158.00, and the important short-term resistance is 4237.00--4238.00. gold todayThe short-term support is at 4000.00--4001.00, and the important short-term support is at 3923.00--3924.00.

EUR/USD operation strategy: If it falls to 1.1580--1.1590, you can buy, with stop loss below 1.1550, and targets at 1.1625--1.1630, 1.1645--1.1650.

GBP/USD operation strategy: If it rises to 1.3385--1.3395, it can be sold, with stop loss above 1.3435, and targets at 1.3310--1.3315, 1.3270--1.3275.

AUD/USD operation strategy: If it rises to 0.6500--0.6510, it can be sold, with stop loss above 0.6530 and targets at 0.6470--0.6475, 0.6460--0.6465.

USD/CAD operation strategy: If it rises to 1.4010--1.4020, you can sell, with stop loss above 1.4060, and targets at 1.3965--1.3970, 1.3945--1.3950.

Summary of orders on October 22: EUR/USD is required to go long between 1.1560--1.1570, and the exchange rate has dropped to as low as 1.1577, which is in line with my requirement to enter the market 5--10 points in advance to go long. If investors enter the market early and go long, the price can rise as high as 1.1622, and the short-term profit margin is 35-45 points. The AUD/USD requirement is to go long between 0.6465--0.6475, and the exchange rate dropped to as low as 0.6482, which is in line with my requirement to enter the market 5--10 points in advance to go long. If investors enter the market early and go long, the price can rise as high as 0.6502, and the short-term profit margin is 10-20 points. USD/CAD successfully established a long position between 1.3990--1.4000, with the highest increase at 1.4032, and the short-term profit margin is 30--40 points. The short selling direction of EUR/USD and GBP/USD is in the right direction, but it is not within the price range for establishing a position.

I would like to remind everyone that if the day's strategy reaches the expected closing target first, investors seeking stability can give up the day's operation plan. When investors actually implement this strategy, they can start arranging corresponding positions 5-10 points in advance, but the stop loss price should be implemented to the letter.

When making an order based on this strategy, when there is a profit of more than 30 points, please protect the parity and take profits. Never let a profit order turn into a loss order.

Standards for opening a position: if the risk tolerance is below 20%, you can do 0.1 lots per 2,000 US dollars; if the risk tolerance is between 20% and 50%, you can do 0.1 lots per 1,000 US dollars; if the risk tolerance exceeds 50%, you can do 0.2--0.3 lots per 1,000 US dollars.

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Foreign exchange practical strategy on October 23

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Trusted by over 15 Million Traders

The Most Awarded Brokerfor a Reason

Easy Access to 1,400+ Global Assets

XM Forex Trading Platform

CATEGORIES

News

market analysis

Foreign exchange practical strategy on October 23

Related News

The Most Awarded Broker
for a Reason