XM: FX strategy for May 16
  Source:XM 2023-05-16 17:39:05
Description:
U.S. dollar index: The U.S. dollar index encountered resistance below 102.75 on Monday, and was supported above 102.35 when it fell, which means that the U.S. dollar may maintain a downward trend after a short-term rise. If the U.S. index encounters resistance below 102.70 today, the target for the future decline will be between 102.25 and 102.10. Today, the short-term resistance of the US index is 102.65--102.70, and the important short-term resistance is 102.90--102.95. Today, the short-term support of the US index is at 102.25--102.30, and the important short-term support is at 102.10--102.15.EUR/USD: Europe and the United States fell on Monday and were supported above 1.0845, and their rise was blocked below 1.0890, which means that Europe and the United States may maintain an upward trend after a short-term decline. If Europe and the United States fall today and are supported above 1.0850, the target for the market outlook will be between 1.0895--1.0915. Today, the short-term resistance in Europe and the United States is at 1.0890--1.0895, and the important short-term resistance is at 1.0910--1.0915. Today, the short-term support in Europe and the United States is at 1.0850--1.0855, and the important short-term support is at 1.0825--1.0830.EUR/GBP operating strategy: If it falls to 1.0850--1.0860, it can be bought, the stop loss is below 1.0820, and the target is 1.0890--1.0895, 1.0910--1.0915.GBP/USD operation strategy: If it falls to 1.2470--1.2480, it can be bought, the stop loss is below 1.2410, and the target is 1.2560--1.2565, 1.2590--1.2595.USD/CAD operating strategy: If it rises to 1.3530--1.3540, it can be sold, the stop loss is above 1.3610, and the target is 1.3425--1.3430, 1.3390--1.3395.AUD/USD operating strategy: If it falls to 0.6660--0.6670, it can be bought, the stop loss is below 0.6615, and the target is 0.6725--0.6730, 0.6750--0.6755.Summary of orders on May 15: EUR/USD is required to be shorted between 1.0900--1.0910, and the exchange rate rises to 1.0890 at the highest, which is in line with my requirement of entering the market 5--10 points in advance for shorting. If investors enter the market ahead of time and sell short, the lowest price will drop to 1.0964, and the short-term profit margin is 15--25 points. GBP/USD successfully opened a short position between 1.2500--1.2510, and there is no room for short-term profit. It is recommended that this order break through the stop loss at 1.2540, or call back to around 1.2480 to close the position. USD/CAD successfully opened a long position between 1.3505--1.3515, and the highest rose to 1.3518, and the short-term profit margin was less than 20 points. This order suggests a stop loss below 1.3450, or a rebound to close the position around 1.3530. EUR/JPY is going in the right direction, but it has not reached the price range for opening positions.I would like to remind everyone to pay attention that if the strategy of the day first achieves the expected closing target, investors who seek stability can give up the operation plan of the day. When investors actually implement this strategy, they can start to arrange corresponding positions 5-10 points in advance, but the stop loss price should be executed without compromise.Make an order according to this strategy. When there is a profit of more than 30 points, please protect the parity, and you can also take a profit. Don’t let the profit order become a loss order.Standards for opening a position: risk tolerance is below 20%, 0.1 lot for every $2,000 is enough; risk tolerance is between 20%–50%, 0.1 lot for every $1,000 is ok; risk tolerance is more than 50% , 0.2–0.3 lots per 1,000 US dollars is enough.To learn more, visit XM official website immediately: https://www.fxeye.com.cn/dealer/0001461138.html