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

Friday, January 02, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 107.38

Although dollar has rebounded after holding above indicated key support at 106.74, unless
108.10 resistance is penetrated, further choppy trading within recent established range from
106.74 low is seen.

Above said resistance would signal strong retracement of medium term downtrend has
commenced, yield 108.75 again...


INTRA-DAY EUR/USD OUTLOOK
(Update at 22:16GMT 2003/01/01)

Current price action suggests as long as support at 1.2510/15 holds, consolidation with
upside bias is seen for rebound to indicated objective but above 1.2600 is needed to confirm
recent uptrend has resumed and bring re-test of 1.2649 later..

Buy dips, stop there, break wud signal correction of recent uptrend has commenced, 1.2477
first...


Rate: 1.2548
Strategy / Entry Level: Buy at market
Position:

Objective: 1.2590/95
Stop-Loss: 1.2510
Range Forecast: 1.2530 / 1.2560
Resistance: 1.2649/1.2680/1.2728
Support: 1.2510/1.2477/1.2426



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