Daily Market Outlook
Update Time: 16 May 2024 04:39
Next Update At: 08:30GMT
EUR/USD - 1.0887
Euro's resumption of upmove from Apr's 5-month bottom at 1.0602 to a 1-1/2 month 1.0886 high yesterday, then intra-day break there suggests gain towards 1.0942/45 after consolidation, overbought condition should prevent strong gain above and 1.0963/66 should cap upside.  
  
On the downside, only a daily close below 1.0855/60 risks weakness to 1.0825/35 before rebound.
   Our Recommended Trades
INTRA-DAY GBP/USD OUTLOOK - +1.2700+
Update Time: 19 May 2024 09:34GMT
Intra-day rise fm 1.2646 suggests pullback fm
y'day's 1-month high at 1.2700 has ended at 1.2644
the same day n recent upmove fm Apr's 5-month bot-
tom at 1.2299 wud head to 1.2730/35, however, 1.27
58/63 shud cap upside today, yield retreat.

Trade fm long side for 1.2700 n only below 1.26
44/46 risks retracement to 1.2615/20, 1.2584/94.

Rate: +1.2700+ 
Strategy: +Target met+ 
Position: Long at 1.2650 
Objective: 1.2700 
Stop-Loss:  
Resistance: 1.2711/1.2747/1.2787 
Support: 1.2680/1.2644/1.2615 
 
DAILY GBP/JPY OUTLOOK - +195.75+
Update Time: 16 May 2024 07:06GMT
Intra-day selloff below 195.89 (Wed) signals
recent rise has made a temp. top at 197.08 y'day n
present bounce wud yield consolidation b4 fall.

Trade fm short side n below 194.80/85 wud yield
194.45/50. Only abv 196.25/30 risks 196.60 later.

Rate: +195.75+ 
Strategy: +Stop profit+ 
Position: Short at 196.45 
Objective: Short at 196.45 
Stop-Loss: +195.75+ 
Resistance: 196.05/196.27/196.60 
Support: 195.05/194.85/194.49 
 
DAILY EUR/JPY CROSS OUTLOOK - +167.95+
Update Time: 16 May 2024 07:05GMT
Euro's sharp selloff fm y'day's 2-week high at
169.40 to 168.08 in NY n intra-day break there to
167.34 (Asia) signals recent erratic rise has made
a top there n subsequent bounce wud yield consolida
tion b4 another fall twd 167.00 but 166.75 may hold

Trade fm short side for this move as only abv
168.20/25 risks stronger retracement twd 168.40.

Rate: +167.95+ 
Strategy: +Stop profit+ 
Position: Short at 168.70 
Objective:  
Stop-Loss: +167.95+ 
Resistance: 168.24/168.40/168.66 
Support: 167.51/167.14/166.75 
 
DAILY USD/JPY OUTLOOK - +154.35+
Update Time: 16 May 2024 07:05GMT
Despite dlr's rise fm May's 3-week 151.87 bottom
to 156.77 Tue, subsequent fall to 154.70 y'day on
US CPI, then intra-day drop below there suggests
temp. top is made n weakness to 153.00/10 wud be
seen, break needed for 153.70/75 b4 rebound.

Trade fm short side for 153.20 n only firm break
of 154.50/55 indicates trough made, 155.00/05.

Rate: +154.35+ 
Strategy: +Stop profit+ 
Position: Short at 155.65 
Objective:  
Stop-Loss: +154.35+ 
Resistance: 154.53/154.70/155.02 
Support: 153.42/153.10/152.75 
 
INTRA-DAY USD/CHF OUTLOOK - +0.8992+
Update Time: 16 May 2024 01:14GMT
Dlr's fall fm Tue's 0.9102 high to 0.9016 y'day
on US CPI, then intra-day break of prev. May's 3-
week 0.9007 low confirms decline fm May's near 7-
month 0.9224 peak has resumed n weakness to 0.8966/
71, then 0.8945/50 wud be seen after consolidation.

Trade fm short side for 0.8992 n only abv 0.9040
/45 risks 0.9063/70, then 0.9086/88 b4 retreat.

Rate: +0.8992+ 
Strategy: +Target met+ 
Position: Short at 0.9057 
Objective: 0.8992 
Stop-Loss:  
Resistance: 0.9071/0.9088/0.9102 
Support: 0.8966/0.8918/0.8898 
 
INTRA-DAY EUR/JPY OUTLOOK - +168.05+
Update Time: 16 May 2024 00:07GMT
Intra-day fall after 1-tick break of y'day's
169.38 high to a 2-week 169.39 peak suggests recent
upmove has made a temporary top n present bounce fm
168.08 wud yield consolidation b4 prospect of an-
ther drop to 167.97/00, break, 167.70/75 later.

Trade fm short side for 168.05 n only abv 168.80
/85 risks gain to 169.05/10, then 169.39 again.

Rate: +168.05+ 
Strategy: +Target met+ 
Position: +Short at 168.70+ 
Objective: +168.05+ 
Stop-Loss:  
Resistance: 168.78/169.06/169.39 
Support: 167.97/167.51/167.14 
 
INTRA-DAY AUD/USD OUTLOOK - +0.6689+
Update Time: 15 May 2024 17:36GMT
Intra-day rise abv Asian 0.6651 high n then
break of Mar's 0.6667 top to 0.6679 on US CPI data
suggests recent upmove has resumed n present pull-
back wud yield consolidation b4 heading to 0.6700/
04, then 0.6728/34 but 0.6775/82 shud hold today.

Trade fm long side for 0.6689 n only below 0.66
20/25 risks 0.6595/00, then 0.6580/85 b4 bounce.

Rate: +0.6689+ 
Strategy: +Target met+ 
Position: +Long at 0.6629+ 
Objective: +0.6689+ 
Stop-Loss:  
Resistance: 0.6704/0.6734/0.6760 
Support: 0.6669/0.6651/0.6629 
 
DAILY USD/JPY OUTLOOK - +156.45+
Update Time: 14 May 2024 01:51GMT
Despite dlr's fall fm Apr's near 34-year 160.24
peak to a 3-week 151.87 low early May, subsequent
rise to 155.95 Thur suggests temporary bottom is in
place n stronger retracement twds 156.25/28, then
156.60/70 wud be seen b4 prospect of a retreat.

Trade fm long side for 156.45 n only below 155.
17/27 confirms top made, 154.70/75, 154.45/55.

Rate: +156.45+ 
Strategy: +Target met+ 
Position: Long at 155.45 
Objective: 156.45 
Stop-Loss:  
Resistance: 156.28/156.61/156.82 
Support: 155.69/155.51/155.17 
 
INTRA-DAY USD/JPY OUTOOK - +156.40+
Update Time: 14 May 2024 01:51GMT
Dlr's intra-day rally n break abv prev. res at
155.95 signals recent upmove fm May's 3-week bottom
at 151.87 has once again resumed n further gain twd
156.61 wud be seen, reckon loss of momentum wud
precent sharp move beyond n bring correction.

Trade fm long side for this move n only below
155.69 wud risk weakness twds 155.51.

Rate: +156.40+ 
Strategy: +Target met+ 
Position: Long at 155.70 
Objective: 156.40 
Stop-Loss:  
Resistance: 156.28/156.61/156.82 
Support: 155.69/155.51/155.27 
 
SPOT SILVER DAILY OUTLOOK - +$ 27.83+
Update Time: 09 May 2024 13:11GMT
Intra-day bounce fm 27.09 signals pullback fm
y'day's 27.52 high has ended n price wud head to
27.72/74, then 27.96/00 b4 prospect of a retreat.

Trade fm long side for this move as only below
26.97/01 risks weakness to 26.81/85, 26.65/67.

Rate: +$ 27.83+ 
Strategy: +Exit long+ 
Position: Long at 27.20 
Objective:  
Stop-Loss: Long at 27.20 
Resistance: 27.96/28.10/28.52 
Support: 27.52/27.29/27.01 
 
INTRA-DAY EUR/GBP OUTLOOK - +0.8615+
Update Time: 08 May 2024 18:39GMT
Euro's rise fm last Tue's 0.8531 low to 0.8599
y'day, then higher today suggests pullback fm Apr's
3-1/2 month 0.8644 high has possibly ended, abv
0.8617/22 res area wud add credence to this view n
bring re-test of 0.8644, break, 0.8660/65 later.

Trade fm long side for 0.8615 n only below 0.85
77/80 prolongs choppy swings, 0.8551/57 b4 bounce.

Rate: +0.8615+ 
Strategy: +Target met+ 
Position: Long at 0.8560 
Objective: 0.8615 
Stop-Loss:  
Resistance: 0.8617/0.8644/0.8660 
Support: 0.8577/0.8557/0.8547 
 
DAILY USD/JPY OUTLOOK - +155.00+
Update Time: 08 May 2024 03:00GMT
Despite dlr's fall to a 3-week low of 151.87
Fri, subsequent rise to 154.75 y'day n intra-day
break there suggests temporary bottom is in place n
stronger retracement twds 155.50/55 wud be seen
after consolidation, break, 155.70/75, 156.25/28.

Trade fm long side for 155.00 n only below 154.
25/30 signals top made, 153.95/00, 153.75/80.

Rate: +155.00+ 
Strategy: +Target met+ 
Position: Long at 154.00 
Objective: 155.00 
Stop-Loss:  
Resistance: 155.55/155.72/156.28 
Support: 154.56/154.26/153.99 
 
INTRA-DAY AUD/USD OUTLOOK - +0.6570+
Update Time: 08 May 2024 02:57GMT
Y'day's fall fm 0.6643 in post-RBA to 0.6587,
then lower today suggests recent upmove has made a
temporary top at Fri's 1-1/2 month 0.6650 peak n
weakness to 0.6563/69 wud be seen after consolida-
tion, below yields 0.6540/45, then 0.6516/20 b4 up.

Trade fm short side for 0.6570 n only abv 0.6624
(NY) risks gain to 0.6643/50, break, 0.6667 (Mar).

Rate: +0.6570+ 
Strategy: +Target met+ 
Position: Short at 0.6640 
Objective: 0.6570 
Stop-Loss:  
Resistance: 0.6601/0.6624/0.6650 
Support: 0.6569/0.6548/0.6516 
 
DAILY USD/SGD OUTLOOK - +1.3550+
Update Time: 07 May 2024 23:49GMT
Usd's rise fm Fri's 1.3450 low to 1.3525 y'day,
then higher today signals temp. bottom made, abv
1.3550/52 yields 1.3578/84, which shud hold.

Trade fm long side for 1.3550 n only below 1.34
88 (Mon) risks 1.3450, break, 1.3436/39 later.

Rate: +1.3550+ 
Strategy: +Target met+ 
Position: Long at 1.3455 
Objective: 1.3550 
Stop-Loss: Long at 1.3455 
Resistance: 1.3578/1.3599/1.3614 
Support: 1.3521/1.3488/1.3450 
 
DAILY USD/CAD OUTLOOK - +1.3720+
Update Time: 07 May 2024 23:31GMT
Dlr's bounce fm Fri's low at 1.3697 to 1.3697
Mon n intra-day break abv there signals a temp. bot
tom is made n gain to 1.3729 is seen.

Trade fm long side for 1.3720 n only below 1.36
24/30 risks 1.3610, break, 1.3585/88, 1.3548/57.

Rate: +1.3720+ 
Strategy: +Target met+ 
Position: Long at 1.3635 
Objective: 1.3720 
Stop-Loss: Long at 1.3635 
Resistance: 1.3749/1.3785/1.3804 
Support: 1.3717/1.3697/1.3648 
 
INTRA-DAY USD/JPY OUTOOK - +154.70+
Update Time: 07 May 2024 23:12GMT
Dlr's rally fm Fri's 3-week low at 151.87 to
154.00 y'day, then 154.65 today suggests decline fm
last Mon's near 34-year 160.24 (Reuters) peak has
made a temporary bottom n abv 154.75/80 wud head
to 155.15/20 but 155.55/65 is likely to cap upside.

Trade fm long side for this move n only below
153.82/88 indicates top made, 153.42/45, 153.00/10.

Rate: +154.70+ 
Strategy: +Target met+ 
Position: Long at 154.00 
Objective: 154.70 
Stop-Loss:  
Resistance: 154.78/155.16/155.55 
Support: 154.26/153.99/153.88 
 
INTRA-DAY USD/CHF OUTLOOK - +0.9130+
Update Time: 02 May 2024 06:32GMT
Y'day's fall fm a near 7-month high at 0.9224 to
0.9146 in post-FOMC NY suggests temporary top is in
place n subsequent rebound wud bring consolidation
b4 prospect of another drop twds 0.9125/30, then
0.9106/10, break heads to 0.9088/89 later.

Trade fm short side for 0.9130 n only abv 0.9188
/92 prolongs choppy swings, 0.9205/08, 0.9220/24.

Rate: +0.9130+ 
Strategy: +Target met+ 
Position: Short at 0.9180 
Objective: 0.9130 
Stop-Loss:  
Resistance: 0.9146/0.9173/0.9192 
Support: 0.9088/0.9061/0.9033 
 
DAILY USD/CHF OUTLOOK - +0.9100+
Update Time: 02 May 2024 06:31GMT
Despite dlr's resumption of upmove to a near 7-
month 0.9224 peak y'day, subsequent fall to 0.9146
in post-FOMC NY suggests temporary top is made n
retracement twds 0.9088/90 wud be seen after conso-
lidation, break needed for 0.9061/71 b4 rebound.

Trade fm short side for 0.9100 n only abv 0.9205
/08 risks 0.9224 again, abv, 0.9244 (Oct 2023).

Rate: +0.9100+ 
Strategy: +Target met+ 
Position: Short at 0.9190 
Objective: 0.9100 
Stop-Loss:  
Resistance: 0.9146/0.9173/0.9192 
Support: 0.9088/0.9071/0.9061 
 
INTRA-DAY GBP/USD OUTLOOK - +1.2485+
Update Time: 01 May 2024 01:58GMT
Cable's selloff fm y'day's 2-1/2 week peak at
1.2569 to 1.2491 in NY Tue n intra-day break there
signals recent upmove fm 1.2299 has possibly made a
temp. top there n retracement twds 1.2480 wud be
seen but 1.2450 may remain intact, bring rebound.

Trade fm short side for 1.2485 next as only abv
1.2569 wud risk one more rise to 1.2590/00.

Rate: +1.2485+ 
Strategy: +Target met+ 
Position: Short at 1.2545 
Objective: 1.2485 
Stop-Loss:  
Resistance: 1.2569/1.2578/1.2614 
Support: 1.2480/1.2450/1.2432 
 
INTRA-DAY USD/JPY OUTOOK - +155.60+
Update Time: 29 Apr 2024 16:46GMT
Intra-day selloff after resumption of LT upmove
to a near 34-year 160.24 (Reuters) peak suggests
temporary top is in place n present strong bounce
fm 154.54 wud bring choppy sideways swings b4 pros-
pect of another drop twds 154.17/22, 153.92/96.

Sell on pullback to 156.80 for 155.80 n only abv
157.23 risks retracement to 157.65/75 b4 bounce.

Rate: +155.60+ 
Strategy: +Target met+ 
Position: +Short at 156.80+ 
Objective: 155.60 
Stop-Loss:  
Resistance: 156.89/157.23/157.67 
Support: 155.06/154.54/153.22 
 
INTRA-DAY AUD/USD OUTLOOK - +0.6575+
Update Time: 29 Apr 2024 04:15GMT
Intra-day break of Fri's 0.6554 high suggests
corrective upmove fm Apr's 5-month 0.6363 trough
remains in progress n gain twds 0.6575/80 wud be
seen after consolidation, however, overbought condi
tion shud prevent strong gain abv 0.6593/98.

For st trade, hold long for 0.6575 n only below
0.6535/40 risks retrace. to 0.6515/20, 0.6484/86.

Rate: +0.6575+ 
Strategy: +Target met+ 
Position: Long at 0.6520 
Objective: 0.6575 
Stop-Loss:  
Resistance: 0.6598/0.6619/0.6644 
Support: 0.6518/0.6484/0.6465 
 
INTRA-DAY GBP/USD OUTLOOK - +1.2505+
Update Time: 25 Apr 2024 06:58GMT
Intra-day break of y'day's 1.2470 high suggests
corrective upmove fm Mon's fresh 5-month trough at
1.2299 remains in progress n gain twds 1.2495/98,
then 1.2520/25 wud be seen after consolidation, abv
yields 1.2545/50 but 1.2578/81 is likely to hold.

Trade fm long side for 1.2505 n only below 1.24
20/25 indicates top made, 1.2382/85, 1.2355/60.

Rate: +1.2505+ 
Strategy: +Target met+ 
Position: Long at 1.2430 
Objective: 1.2505 
Stop-Loss:  
Resistance: 1.2522/1.2578/1.2614 
Support: 1.2451/1.2423/1.2405 
 
DAILY AUD/JPY CROSS OUTLOOK - +101.25+
Update Time: 25 Apr 2024 05:20GMT
Intra-day rally abv Wed's fresh 9-year peak at
101.04 (NY) suggests LT rise remains in force but
overbought condition shud cap price below 101.45/50

Trade fm long side for 101.25 next as only below
100.50 risks stronger retracement twd 100.00/10.

Rate: +101.25+ 
Strategy: +Target met+ 
Position: Long at 100.55 
Objective: 101.25 
Stop-Loss:  
Resistance: 101.48/101.80/101.97 
Support: 100.50/100.04/99.68 
 
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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