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

Monday, January 05, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 106.94

Consolidation is envisaged initially and as long as resistance at 107.73 holds, downside bias
remains for one more fall but 106.00 would hold, bring a correction later this week, above
said resistance would signal temporary low is in place.


INTRA-DAY EUR/USD OUTLOOK
(Update at 02:14GMT 2003/01/05)

As euro has continued to trade with a firm undertone after early rally, suggesting upside bias
remains for further gain towards 1.2700, however, near term overbought condition suggests
1.2725 would hold and bring retreat later today..

Trade from long side, stop initially below 1.2631 (previous res) and take profit on subsequent
rise...


Rate: 1.2664
Strategy / Entry Level: Hold long
Position: Long at 1.2660
Objective: 1.2690
Stop-Loss: 1.2630
Range Forecast: 1.2640 / 1.2665
Resistance: 1.2680/1.2700/1.2725
Support: 1.2631/1.2584/1.2560




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