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

Monday, January 26, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com


USD/YEN - 106.25

As recent support at 105.70 has continued to hold, suggesting medium term downtrend is not
ready to resume and further volatile movements is in store this week, however, resistance at
107.92/00 should cap upside, yield decline later. Below said support would extend marginal
weakness but psychological support 105.00 should hold, bring a much-needed correction...


INTRA-DAY EUR/USD OUTLOOK
(Update at 01:19GMT 2004/01/26)

As euro has edged higher after marginal fall to 1.2562, suggesting minor low has been
formed and consolidation with initial upside bias is seen but reckon 1.2630/35 would cap
recovery, yield resumption of Friday`s decline to 1.2545/50 before rebound.

Sell on such move for 1.2560 or if euro falls to 1.2550 first, buy for 1.2585 and possibly
1.2615/20.


Rate: 1.2583
Strategy / Entry Level: 1.Sell @ 1.2610 or 2.Buy @ 1.2550
Position:

Objective: 1) 1.2560 or 2) 1.2585 1st
Stop-Loss: 35 points
Range Forecast: 1.2570 / 1.2600
Resistance: 1.2660/1.2703/1.2752
Support: 1.2549/1.2503/1.2433



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