TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER - EUR/USD

Friday, December 19, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 107.63

As dollar has retreated after yesterday`s brief rebound to 108.10, suggesting further choppy
trading within recent established range from 106.74 low would be seen but as long as said
support holds, mild upside bias is seen for another recovery but resistance at 108.75 would
remain intact...


INTRA-DAY EUR/USD OUTLOOK
(Update at 02:24GMT 2003/12/19)

Although euro has continued to edge lower after yesterday`s rise to 1.2438, below 1.2396/00
is needed to signal temporary to has been formed, bring further weakness towards 1.2360
but reckon 1.2340 would hold from here, yield rebound later..

Hold long, stop there. Above 1.2425/30 would signal upmove has resumed for marginal gain
to 1.2450...


Rate: 1.2410
Strategy / Entry Level: Hold long
Position: Long at 1.2410
Objective: 1.2445/50
Stop-Loss: 1.2395
Range Forecast: 1.2400 / 1.2425
Resistance: 1.2476/1.2500/1.2526
Support: 1.2360/1.2348/1.2296



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