Daily Market Outlook
Update Time: 19 Jul 2024 02:45
Next Update At: 08:30GMT
EUR/USD - 1.0866
Despite euro's resumption of upmove to a 4-month 1.0948 peak Wed, subsequent fall to 1.0894 post-ECB in New York yesterday, then lower today signals temporary top is made and weakness to 1.0833/35 would be seen after consolidation, break would extend to 1.0815/20 but 1.0801/06 should hold.  
  
On the upside, a daily close above 1.0920/25 would risk stronger gain to 1.0948 but 1.0980 (Mar) would cap upside.
   Our Recommended Trades
INTRA-DAY GBP/USD OUTLOOK - +1.2915+
Update Time: 19 Jul 2024 08:55GMT
Cable's fall fm Wed's fresh 11-1/2 month peak at
1.3044 to 1.2923 today suggests MT upmove has made
a temporary top n retracement to 1.2910/15, then
1.2893/00 wud be seen after consolidation, break
needed to extend to 1.2870/75, then 1.2845/50 b4 up

Trade fm short side for 1.2915 n only abv 1.2965
/70 risks 1.2995/00, abv, 1.3007/12 later.

Rate: +1.2915+ 
Strategy: +Target met+ 
Position: Short at 1.3000 
Objective: 1.2915 
Stop-Loss:  
Resistance: 1.2953/1.2969/1.2996 
Support: 1.2900/1.2870/1.2845 
 
INTRA-DAY USD/CHF OUTLOOK - +0.8875+
Update Time: 19 Jul 2024 07:04GMT
Y'day's rise fm a near 4-month trough at 0.8820
n then break of 0.8865/70 res area to 0.8878, then
higher today suggests temporary bottom is made n
stronger retracement to 0.8914/16 wud be seen after
consolidation but 0.8933/35 shud hold initially.

Trade fm long side for 0.8900 n only below 0.88
45/50 may risk re-test of 0.8820 later.

Rate: +0.8875+ 
Strategy: +Stop profit+ 
Position: Long at 0.8835 
Objective:  
Stop-Loss: 0.8875 
Resistance: 0.8896/0.8916/0.8933 
Support: 0.8865/0.8847/0.8820 
 
INTRA-DAY AUD/USD OUTLOOK - +0.6701+
Update Time: 19 Jul 2024 02:00GMT
As 0.6755 has capped recovery fm Tue's 0.6715
low, suggesting correction has ended n intra-day
rebound fm 0.6715 (Asia) wud yield choppy sideways
swings b4 heading to 0.6700/05, then 0.6683/89,
however, 0.6645/50 shud hold, bring rebound later.

Trade fm short side for 0.6701 n only abv 0.6755
may risk gain to 0.6798 (Jul's 6-month peak).

Rate: +0.6701+ 
Strategy: +Target met+ 
Position: Short at 0.6751 
Objective: 0.6701 
Stop-Loss:  
Resistance: 0.6755/0.6771/0.6798 
Support: 0.6715/0.6701/0.6689 
 
INTRA-DAY AUD/USD OUTLOOK - +0.6720+
Update Time: 16 Jul 2024 12:51GMT
Y'day's fall fm 0.6788 n then break of 0.6755
sup to 0.6753, then lower today suggests recent up-
move has made a temporary top at last Thur's fresh
6-month 0.6798 peak n weakness to 0.6724 sup wud be
seen after consolidation, break, 0.6705/10 later.

Trade fm short side for 0.6725 n only abv 0.6770
/75 may risk gain to 0.6793/98, abv, 0.6825/30.

Rate: +0.6720+ 
Strategy: +Target met+ 
Position: Short at 0.6780 
Objective: 0.6720 
Stop-Loss:  
Resistance: 0.6753/0.6771/0.6798 
Support: 0.6701/0.6689/0.6663 
 
INTRA-DAY EUR/JPY OUTLOOK - +171.80+
Update Time: 16 Jul 2024 03:40GMT
Euro's fall fm Fri's 173.43 high n then break of
171.57 sup to 171.47 confirms LT upmove has made a
temporary top at Thur's fresh near 32-year 175.42
peak n subsequent bounce yields consolidation b4
another drop, below 171.75/80, 171.46/47, 170.00/10

Sell on pullback to 172.40 for 171.80 n only abv
172.60/65 risks 172.95/00, abv, 173.25/30, 173.43.

Rate: +171.80+ 
Strategy: +Target met+ 
Position: +Short at 172.40+ 
Objective: 171.80 
Stop-Loss:  
Resistance: 172.43/172.62/172.95 
Support: 171.46/171.02/170.71 
 
DAILY USD/CAD OUTLOOK - +1.3685+
Update Time: 16 Jul 2024 01:47GMT
Intra-day break of 1.3653 signals choppy trading
inside 1.3590-1.3791 range wud continue with upside
bias for gain to 1.3686 target, 1.3708/12 may hold.

Trade fm long side for 1.3685 n only below 1.36
10 (Fri) risks 1.3590, break, 1.35488/53 b4 bounce.

Rate: +1.3685+ 
Strategy: +Target met+ 
Position: Long at 1.3605 
Objective: 1.3685 
Stop-Loss: Long at 1.3605 
Resistance: 1.3686/1.3708/1.3736 
Support: 1.3610/1.3590/1.3570 
 
SPOT GOLD DAILY OUTLOOK - +$ 2393.00+
Update Time: 12 Jul 2024 12:35GMT
Although gold's impressive rally fm 2371.30 to a
1-1/2 month peak at 2424.60 in NY on soft US CPI
data, subsequent retreat signals upmove fm Jun's
1-month 2286.90 bottom has made a temporary top
there n retracement twd 2400, then 2392/2393 may
be seen b4 prospect of another rise later.

In view of abv analysis, trade fm long side for
2393.00 next as only a daily close abv 2415/2416
dampens bearishness, risks gain back twd 2424.60.

Rate: +$ 2393.00+ 
Strategy: +Target met+ 
Position: Short at 2418.00 
Objective: 2393.00 
Stop-Loss:  
Resistance: 2408.20/2416.30/2424.60 
Support: 2386.60/2370.00/2364.10 
 
SPOT SILVER DAILY OUTLOOK - +$ 31.70+
Update Time: 11 Jul 2024 12:47GMT
Mon's bounce fm 30.44 signals correction fm Fri's
4-week 31.49 top has possibly ended n abv extends
twd 31.77/80 area b4 prospect of retreat later.

Trade fm long side for 31.70 next as only below
30.40/44 risks stronger retracement twd 30.19.

Rate: +$ 31.70+ 
Strategy: +Target met+ 
Position: Long at 30.70 
Objective: 31.70 
Stop-Loss: Long at 30.70 
Resistance: 31.54/31.80/32.00 
Support: 30.44/30.19/29.82 
 
INTRA-DAY USD/JPY OUTOOK - +160.60+
Update Time: 11 Jul 2024 12:42GMT
Dlr's rally fm Mon's 160.27 low to 161.82 (LSEG)
y'day suggests decline fm Jul's fresh 38-year 161.
96 peak has made a temporary bottom n this level
has to hold to yield weakness to 161.17/24, then
160.90/95, break heads to 160.50/55 b4 rebound.

Remain as cautious seller at 161.75 for 161.15 n
only abv 161.96 risks marginal gain to 162.35/45.

Rate: +160.60+ 
Strategy: +Target met+ 
Position: +Short at 161.75+ 
Objective: +160.60+ 
Stop-Loss:  
Resistance: 161.35/161.61/161.82 
Support: 160.74/160.49/160.27 
 
DAILY USD/JPY OUTLOOK - +160.35+
Update Time: 11 Jul 2024 12:43GMT
Despite dlr's rally fm this week's low at 160.27
(Mon) to 161.82 (LSEG) y'day, loss of upward momen-
tum shud prevent strong gain n Jul's fresh 38-year
161.96 peak shud hold, yield retreat to 161.17/24,
then 160.74/80, then 160.49/55 b4 rebound occurs.

Remain as cautious seller at 161.75 for 160.55 n
only abv 161.96 extends uptrend to 162.35/45 later.

Rate: +160.35+ 
Strategy: +Target met+ 
Position: +Short at 161.75+ 
Objective: +160.35+ 
Stop-Loss:  
Resistance: 161.35/161.61/161.82 
Support: 160.49/160.27/159.93 
 
INTRA-DAY EUR/USD OUTLOOK - +1.0870+
Update Time: 11 Jul 2024 12:31GMT
As 1.0806 (Tue) has contained pullback fm Mon's
fresh 3-week high of 1.0845, suggesting recent up-
move wud head to 1.0852/55, then 1.0880/85 after
consolidation, however, Jun's 1.0916 peak is likely
to hold on 1st testing, yield subsequent retreat.

Trade fm long side for 1.0865 n only below 1.08
01/06 risks 1.0776/79, break, 1.0753/55 b4 bounce.

Rate: +1.0870+ 
Strategy: +Target met+ 
Position: Long at 1.0815 
Objective: +1.0870+ 
Stop-Loss:  
Resistance: 1.0852/1.0888/1.0916 
Support: 1.0818/1.0801/1.0776 
 
DAILY USD/CHF OUTLOOK - +0.8945+
Update Time: 08 Jul 2024 05:09GMT
Despite dlr's resumption of upmove fm Jun's near
3-month 0.8828 trough to a 1-month 0.9050 peak Wed,
subsequent fall to 0.8981 today suggests temporary
top is made n weakness to 0.8952/58 wud be seen
after consolidation, below, 0.8935/40, 0.8914/20.

Trade fm short side for 0.8955 n only abv 0.9020
/25 may risk 0.9050 again, break, 0.9065/69 later.

Rate: +0.8945+ 
Strategy: +Target met+ 
Position: Short at 0.9035 
Objective: +0.8945+ 
Stop-Loss:  
Resistance: 0.8986/0.9007/0.9039 
Support: 0.8925/0.8914/0.8882 
 
INTRA-DAY USD/CHF OUTLOOK - +0.8945+
Update Time: 08 Jul 2024 01:39GMT
Y'day's anticipated fall fm 0.9039 to 0.8981 to-
day suggests recent upmove has made a temporary top
at Wed's 1-month 0.9050 peak, below 0.8975/80 need-
ed to extend to 0.8952/58, then 0.8935/40, however,
0.8914 sup shud hold, yield subsequent rebound.

Stand aside n hold short for day trade as only
abv 0.9015/20 heads to 0.9039, then 0.9050 again.

Rate: +0.8945+ 
Strategy: +Target met+ 
Position: +Short at 0.8995+ 
Objective: +0.8945+ 
Stop-Loss:  
Resistance: 0.9007/0.9039/0.9050 
Support: 0.8954/0.8925/0.8914 
 
INTRA-DAY EUR/CHF OUTLOOK - +0.9690+
Update Time: 08 Jul 2024 01:20GMT
Despite euro's rally abv 0.9737 (Wed) to a fresh
4-week peak at 0.9755 in Europe Wed on soft Swiss
CPI, subsequent sharp retreat signals recent erra-
tic rise has made a temporary top there n below
0.9708 yields retracement twd 0.9682, 0.9660/65.

Sell on pullback to 0.9740 for 0.9690 next as
only abv 0.9760/65 risks gain twd 0.9780.

Rate: +0.9690+ 
Strategy: +Target met+ 
Position: +Short at 0.9740+ 
Objective: 0.9690 
Stop-Loss:  
Resistance: 0.9755/0.9780/0.9801 
Support: 0.9708/0.9682/0.9661 
 
INTRA-DAY USD/CHF OUTLOOK - +0.8985+
Update Time: 05 Jul 2024 03:25GMT
Despite y'day's strong bounce to 0.9039 on Swiss
CPI data, subsequent sharp retreat to 0.8992 in
holiday-thinned N. America signals re-test of 0.89
86 (Wed) wud be seen, break extends nr term fall fm
Wed's 1-month 0.9050 top twd 0.8952/58, 0.8935/40.

Trade fm short side for 0.8985 next as only abv
0.9039 dampens bearishness, risks 0.9050, 0.9065/69

Rate: +0.8985+ 
Strategy: +Target met+ 
Position: Short at 0.9035 
Objective: 0.8985 
Stop-Loss:  
Resistance: 0.9039/0.9050/0.9069 
Support: 0.8981/0.8954/0.8925 
 
INTRA-DAY USD/JPY OUTOOK - +161.15+
Update Time: 04 Jul 2024 01:08GMT
Y'day's selloff fm a fresh 38-year high at 161.
96 to 160.78 on US data suggests LT upmove has made
a temporary top n as 161.77 has capped subsequent
strong rebound, consolidation with downside bias
remains, below 161.00/05, 160.68/78, 160.27/30.

Trade fm short side for 161.15 1st n only abv
161.96 risks 162.30/35 but 162.60/70 shud hold.

Rate: +161.15+ 
Strategy: +Target met+ 
Position: +Short at 161.75+ 
Objective: +161.15+ 
Stop-Loss:  
Resistance: 161.96/162.35/162.63 
Support: 161.28/160.78/160.27 
 
DAILY EUR/CHF CROSS OUTLOOK - +0.9635+
Update Time: 28 Jun 2024 12:38GMT
Euro's rally abv 0.9600 (Wed) to a 2-week peak
at 0.9621 in NY suggests nr term upmove fm Jun's
4-month bottom at 0.9479 remains in force n further
gain twd 0.9655/60 wud be seen but 0.9685 shud hold
n yield retreat due to loss of upward momentum.

Trade fm long side for 0.9635 next as only below
0.9590 risks weakness back twd 0.9560/65.

Rate: +0.9635+ 
Strategy: +Target met+ 
Position: Long at 0.9535 
Objective: 0.9635 
Stop-Loss:  
Resistance: 0.9657/0.9685/0.9722 
Support: 0.9590/0.9562/0.9550 
 
INTRA-DAY EUR/CHF OUTLOOK - +0.9625+
Update Time: 28 Jun 2024 07:17GMT
Euro's rally fm 0.9579 (Asia) n break of Wed's
0.9600 peak to a 2-week 0.9621 top in NY Thur sig-
nals recent erratic rise fm Jun's 4-month 0.9479
low remains in force but firm break of 0.9626 res
is needed to extend twd 0.9655/60, break, 0.9685.

Trade fm long side for 0.9625 next as only below
0.9590 signals temp. top made, risks 0.9562/65.

Rate: +0.9625+ 
Strategy: +Target met+ 
Position: Long at 0.9575 
Objective: 0.9625 
Stop-Loss:  
Resistance: 0.9626/0.9657/0.9685 
Support: 0.9590/0.9562/0.9550 
 
INTRA-DAY EUR/GBP OUTLOOK - +0.8575+
Update Time: 17 Jan 2024 16:44GMT
Despite euro's rebound after y'day's retreat fm
0.8620 to 0.8592 in NY, intra-day sharp selloff fm
0.8618 in European morning on hot U.K. CPI signals
has retained daily bearishness but firm break of
0.8672 sup is needed to yield weakness twd 0.8550.

Trade fm short side for this move as only abv
0.8620 risks gain back twd 0.8635/40.

Rate: +0.8575+ 
Strategy: +Target met+ 
Position: Short at 0.8615 
Objective: 0.8575 
Stop-Loss:  
Resistance: 0.8595/0.8620/0.8639 
Support: 0.8550/0.8524/0.8494 
 
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