FOREX MARKET OUTLOOK FROM ACETRADER - EUR/USD

Tuesday, December 30, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com


USD/YEN - 107.08

Although recent erratic decline from 108.75 is likely to extend marginal weakness, as long as
support 106.74 holds, further choppy consolidation is seen with mild upside bias for
subsequent corrective rebound but above 108.10 is needed to retain bullishness..

Below said support would confirm MT downtrend has resumed but 106.00 should hold on first
testing...


INTRA-DAY EUR/USD OUTLOOK
(Update at 02:36GMT 2003/12/30)

As euro has remained sidelined after yesterday`s upmove to 1.2510, suggesting further
consolidation is seen in Asia, however, as long as 1.2455/60 holds, recent uptrend should
resume later today for marginal gain towards 1.2530/35..

Trade from long side, stop there, break would signal possible top formed, risk test of 1.2426
support...


Rate: 1.2489
Strategy / Entry Level: Hold long
Position: Long at 1.2485
Objective: 1.2520
Stop-Loss: 1.2455
Range Forecast: 1.2475 / 1.2500
Resistance: 1.2510/1.2534/1.2562
Support: 1.2461/1.2426/1.2386



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