TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Wed, 04 Aug 2004 09:16GMT
Daily report
By AceTrader
http://www.acetrader.com

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EUR/USD - 1.2018
Update Time : 08:00GMT

Despite euro`s retreat from 1.2077, a break of 1.1990 support is needed to signal recent
decline from 1.2462 has resumed, bring weakness towards chart support at 1.1954 before
rebound due to loss of momentum.

Above said resistance would signal a temporary low has been formed and yield correction
towards 1.2190.


INTRA-DAY EUR/USD OUTLOOK - +1.2015+
Update Time : 2004/08/04 08:21GMT

Euro`s strg retreat fm 1.2077 suggests further choppy trading within near term established
range wud be seen n although marginal weakness can`t be ruled out, sup at 1.1990 shud
remain intact n yield recovery to indicated obj. later.

Venture long on dips, stop below there, break wud signal decline has resumed n yield 1.1954
sup..

Rate: +1.2015+

Strategy: +Hold long+
Position: +Long at 1.2015+
Objective: 1.2045
Stop-Loss: 1.1988
Resistance:
1.2077/1.2093/1.2121
Support: 1.1990/1.1954/1.1888



DAILY EUR/YEN CROSS OUTLOOK - 133.86
Update Time : 2004/08/04 08:12GMT

Euro`s intra-day rebound signals price wud continue to gyrate within early established range
fm 135.79 n consolidation with upside bias is seen for retrace. of decline fm 135.40 twds
134.40 but 134.94 wud remain intact n yield retreat later.

Buy dips, stop 133.20, break wud risk another test of 132.83/86 sup...

Rate: 133.86

Strategy: Buy at 133.65
Position:

Objective: 134.30
Stop-Loss: 133.20
Resistance:
134.20/134.94/135.40
Support: 133.14/132.83/132.30



SPOT SILVER DAILY OUTLOOK - 6.65
Update Time : 2004/08/04 00:30GMT

Silver`s strg rebound fm 6.48 indicates recent rise fm 6.13 has resumed for re-test of prev.
res 6.74 but 6.80 wud cap upside n yield correction.

Hold long, stop at 6.60, below wud risk 6.53 but break of 6.48 needed to signal top is in place.

Rate: 6.65

Strategy: Long at 6.56
Position: Long at 6.56
Objective: 6.74
Stop-Loss: 6.60
Resistance:
6.67 / 6.74 / 6.80
Support: 6.53 / 6.48 / 6.38



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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