TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Fri, 06 Aug 2004 08:58GMT
Daily report
By AceTrader
http://www.acetrader.com

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EUR/USD - 1.2063
Update Time : 08:15GMT

Further choppy trading is seen within recent range of 1.1968-1.2121 and a break of upper
level would signal decline from 1.2462 is being retraced, bring further gain towards 1.2190
chart resistance.

On the downside, below 1.1990 would indicate aforasaid decline has resumed for weakness
to 1.1954.


INTRA-DAY USD/YEN OUTLOOK - 111.55
Update Time : 2004/08/06 08:48GMT

As dlr has edged lower on cross unwinding in yen, suggesting caution on our intra-day
bullishness n below 111.42 wud signal a temp. top has been formed, bring retrace. to 111.20
but y`day`s low at 110.82 shud remain intact.

Hold long, stop below there, abv 111.80 wud extend marginal gain to 112.00 but 112.49 wud
hold.

Rate: 111.55

Strategy: Hold long
Position: Long at 111.67
Objective: 112.00
Stop-Loss: 111.40
Resistance:
112.23/112.49/113.00
Support: 111.42/110.82/110.40


DAILY OUTLOOK ON USD/CAD - 1.3174
Update Time : 2004/08/06 07:33GMT

Despite early recovery fm 1.3125, as this move looks corrective, recent decline shud resume
later for 1.3100 but 1.3055 low wud remain intact.

Hold short, stop as indicated, only abv 1.3232 confirms temp. low is made n risks 1.3285/90
later.

Rate: 1.3174

Strategy: Short at 1.3210
Position: Short at 1.3210
Objective: 1.3130
Stop-Loss: 1.3210
Resistance:
1.3232/1.3290/1.3347
Support: 1.3125/1.3055/1.3000



SPOT GOLD DAILY OUTLOOK - 392.50
Update Time : 2004/08/06 00:15GMT

Despite nr term sideways trading, as long as 390.90 holds, corrective rise fm 385.75 shud
resume for test of 394.50 n then twd 398.20.

Hold long, stop below there, break wud signal recovery fm 385.75 has possibly ended,
388.00/50...

Rate: 392.50

Strategy: Long at 392.30
Position:

Objective: 396.50
Stop-Loss: 390.50
Resistance:
394.50/398.20/400.70
Support: 390.90/389.30/385.75



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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