TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Mon, 02 Aug 2004 09:19GMT
Daily report
By AceTrader
http://www.acetrader.com


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EUR/USD - 1.2072
Update Time : 08:15GMT

As euro has rebounded after Friday`s selloff to 1.2002, suggesting consolidation with upside
bias is seen for re-test of 1.2121 resistance, however, a firm break above there is needed to
confirm a retracement of recent decline fm 1.2462 is under way for further gain towards
1.2190.


DAILY EUR/USD OUTLOOK - +1.2090+
Update Time : 2004/08/02 09:10GMT

Current price action suggests as long as Friday`s 1.2002 low holds, choppy consolidation with
upside bias is seen n abv 1.2097 wud signal a correction of recent fall fm 1.2462 has taken
place, bring re-test of 1.2121 1st, then later 1.2170/80.

Trade fm long side, stop below 1.1990, break wud risk weakness twd 1.1954 b4 correction
occurs..

Rate: +1.2090+

Strategy: Hold long
Position: Long at 1.2040
Objective: 1.2115
Stop-Loss: +1.2040+
Resistance:
1.2097/1.2121/1.2190
Support: 1.1990/1.1954/1.1900



DAILY NZD/USD OUTLOOK - 0.6380
Update Time : 2004/08/02 05:18GMT

Kiwi`s rebound fm 0.6332 suggests nr term rise fm 0.6235 has resumed, bring retrace. of
recent decline fm 0.6610 twds 0.6443 res b4 retreat.

Hold long, stop as indicated, break wud signal correction has ended n yield 0.6270/75....

Rate: 0.6380

Strategy: Long at 0.6360
Position: Long at 0.6360
Objective: 0.6425
Stop-Loss: 0.6300
Resistance:
0.6408/0.6443/0.6505
Support: 0.6332/0.6304/0.6235


SPOT GOLD DAILY OUTLOOK - 394.00
Update Time : 2004/08/02 00:19GMT

Gold`s breach of 393.50 confirms a temp. low has been formed at 385.75 n correction of
recent fall to 396/397 wud be seen but 400.70 res wud hold.

Trade fm long side with stop as indicated, below wud risk pullback to 390.00 b4 rebound...

Rate: 394.00

Strategy: Long at 391.60
Position: Long at 391.60
Objective: 395.00
Stop-Loss: 392.50
Resistance:
398.20/400.70/402.00
Support: 392.10/388.05/385.75


AceTrader Performance Update

July 2004 (Pips)












Intraday




Daily
USD/YEN





+217





-31
EUR/USD





+509





+186
USD/CHF





+529





+499
GBP/USD





+752





+301

YTD 2004 (Pips)












Intraday



Daily
USD/YEN

`


+338




-31
EUR/USD





+2550



+1130
USD/CHF





+2421



+1001
GBP/USD





+2941



+548



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