TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Tues, 03 Aug 2004 09:59GMT
Daily report
By AceTrader
http://www.acetrader.com

EUR/USD - 1.2018
Update Time : 08:15GMT

Despite euro`s intra-day selloff, a break below last week`s low at 1.1990 is needed to confirm
recent decline from 1.2462 has resumed and bring marginal weakness towards support at
1.1954 before prospect of a rebound due to loss of momentum.



INTRA-DAY USD/CHF OUTLOOK - +1.2794+
Update Time : 2004/08/03 07:23GMT

As 1.2823 has capped early rise, dlr`s retreat fm there suggests further choppy trading within
recent established range wud be seen, bring weakness to indicated obj. but reckon minor sup
at 1.2730 wud hold on 1st testing.

Turn short on recovery, stop as indicated, only abv 1.2832/35 wud signal upmove has
resumed...

Rate: +1.2794+

Strategy: +Hold short+
Position: +Short at 1.2790+
Objective: 1.2750
Stop-Loss: 1.2820
Resistance:
1.2835/1.2860/1.2923
Support: 1.2730/1.2686/1.2664



DAILY EUR/CHF CROSS OUTLOOK - 1.5376
Update Time : 2004/08/03 07:55GMT

Although euro`s y`day`s fall to 1.5341 confirms a correction of recent upmove has occured,
subsequent rebound suggests caution on our bearishness for weakness to 1.5300/10 but loss
of momentum wud keep price well abv key sup at 1.5280.

Hold short, stop 1.5410, abv wud abort n risk re-test of 1.5435 res, break, 1.5455/60 b4
retreat.

Rate: 1.5376

Strategy: Hold short
Position: Short at 1.5370
Objective: 1.5320
Stop-Loss: 1.5410
Resistance:
1.5395/1.5435/1.5463
Support: 1.5341/1.5317/1.5280


SEP EURODOLLAR FUTURES DAILY OUTLOOK - +98.07+
Update Time : 2004/08/03 03:31GMT

Eurodlr`s breach of 98.07 suggests pullback fm 98.11 has ended at 98.00 n recent upmove
has resumed, bring re-test of said res n then twd 98.15.

Buy on dips with stop as indicated, break wud shift risk to downside for retest of said sup...

Rate: +98.07+

Strategy: +Long at 98.07+
Position: +Long at 98.07+
Objective: 98.13
Stop-Loss: 98.03
Resistance:
98.11/98.15/98.19
Support: 98.04/98.00/97.97




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