TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Thur, 29 Jul 2004 09:27GMT
Daily report
By AceTrader
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EUR/USD - 1.2051
Update Time : 08:00GMT

Euro`s rebound from 1.1999 suggests a temporary low has been formed there and
consolidation with upside bias is seen, bring retracement of recent decline fm 1.2462,
however, reckon chart resistance at 1.2190 wud hold and yield retreat.


INTRA-DAY USD/CHF OUTLOOK - +1.2772+
Update Time : 2004/07/29 09:17GMT

Renewed cross selling in chf has pushed dlr higher n intra-day upside bias is seen for one
more rise twd 1.2837, however, loss of upward momentum wud prevent strg gain n abv
there n yield retreat later today.

Turn long on dips, stop as indicated, below wud risk 1.2730/35 but 1.2715 sup shud hold...

Rate: +1.2785+

Strategy: +Hold long+
Position: +Long at 1.2785+
Objective: 1.2825
Stop-Loss: +1.2755+
Resistance:
1.2837/1.2874/1.2923
Support: 1.2715/1.2690/1.2664



DAILY NZD/USD OUTLOOK - 0.6312
Update Time : 2004/07/29 00:03GMT

Present firmness due to today`s 25 b.p. rate hike suggests recent fall has made a temp. low
at 0.6235 n gain to 0.6330 is seen, abv, 0.6375/80.

Hold long, stop as indicated n only below 0.6257 aborts this view n risks re-test of 0.6235...

Rate: 0.6312

Strategy: Long at 0.6260
Position: Long at 0.6260
Objective: 0.6330
Stop-Loss: 0.6280
Resistance:
0.6352/0.6408/0.6443
Support: 0.6257/0.6235/0.6193



SPOT GOLD DAILY OUTLOOK - 389.50
Update Time : 2004/07/29 01:06GMT

Y`day`s rebound fm 385.75 suggests recent fall fm 408.60 has made a temp. low n
minor `corrective` gain twd 393.50 is seen but 396.75 wud cap upside.

Hold long, stop below 385.75, below wud risk one more fall but 382.00 sup shud remain
intact...

Rate: 389.50

Strategy: Long at 388.50
Position:

Objective: 393.00
Stop-Loss: 385.50
Resistance:
393.50/398.20/402.00
Support: 385.75/382.00/378.90



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