TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER

Wed, 28 Jul 2004 08:30GMT
Daily report
By AceTrader
http://www.acetrader.com

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EUR/USD - 1.2076

Although 1.2035 has contained yesterday`s selloff and minor consolidation is seen, downside
bias remains for recent decline fm 1.2462 to resume, below said support wud extend
weakness to 1.2000 before prospect of a rebound.


INTRA-DAY USD/YEN OUTLOOK - 111.02
Update Time : 2004/07/28 00:49GMT

Dlr`s rebound after finding renewed buying interest at 110.81 suggests recent upmove has
possibly resumed n one more rise to indicated obj. is seen but reckon 111.48 wud hold due
to nr term loss of momentum n yield retreat.

Suggest to buy for this move with stop below said sup, break wud risk 110.55/60 b4
rebound...

Rate: 111.02

Strategy: Buy at market
Position:

Objective: 111.35
Stop-Loss: 110.80
Resistance:
111.19/111.48/112.00
Support: 110.59/110.32/110.10


INTRA-DAY AUD/USD OUTLOOK - 0.7010
Update Time : 2004/07/28 02:44GMT

As 0.7022 has capped upside, present retreat suggests y`day`s selloff wud resume after
minor consolidation n yield marginal weakness below 0.6975 sup, however, near term loss of
momentum wud limit downside to 0.6955/57 n risk rebound later.

Hold short, stop as indicated. Only abv 0.7067 res (prev. sup) wud signal temp. low is made...

Rate: 0.7010

Strategy: Hold short
Position: Short at 0.7020
Objective: 0.6985
Stop-Loss: 0.7045
Resistance:
0.7067/0.7102/0.7143
Support: 0.6975/0.6957/0.6929


SEP EURODOLLAR FUTURES DAILY OUTLOOK - 98.01
Update Time : 2004/07/28 01:16GMT

Y`day`s decline suggests retracement of early rise fm 97.74 has possibly commenced for
weakness twd 97.97/98 but 97.95 shud hold n yield rebound.

Sell again on recovery, stop as indicated. Only abv 98.07 wud signal correction has ended,
98.11...

Rate: 98.01

Strategy: Sell at 98.03
Position:

Objective: 97.98
Stop-Loss: 98.06
Resistance:
98.07/98.11/98.15
Support: 97.97/97.92/97.86


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