TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Mon, 09 Aug 2004 09:08GMT
Daily report
By AceTrader
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EUR/USD - 1.2261
Update Time : 08:15GMT

Last Friday`s rally confirms decline from 1.2462 has formed a temporary low at 1.1968 and a
retracement of said fall is under way for further gain towards 1.2340/50 before retreat due to
loss of momentum. Below 1.2190 would bring pullback to 1.2150/60 before prospect of a
rebound.



INTRA-DAY EUR/USD OUTLOOK - 1.2266
Update Time : 2004/08/09 08:37GMT

As 1.2253 has contained pullback fm 1.2291, suggesting correction has possibly ended there
n outlook remains supportive for Friday`s rally to resume for marginal gain to 1.2300 but loss
of nr term momentum wud limit upside to 1.2325/30.

Buy again with stop at 1.2245, break wud risk retrace. to 1.2210/15 b4 up...

Rate: 1.2266

Strategy: Buy again at market
Position:

Objective: 1.2300
Stop-Loss: 1.2245
Resistance:
1.2291/1.2317/1.2351
Support: 1.2230/1.2190/1.2121




DAILY AUD/USD OUTLOOK - 0.7155
Update Time : 2004/08/09 08:27GMT

A$`s rally abv 0.7078 (now sup) confirms recent decline fm 0.7348 has made a low earlier at
0.6932 n upside bias is seen for a strg retracement of this move to 0.7185/90 (62% r) but
reckon 0.7230 wud hold due to o/bot condition n bring retreat.

Trade fm long side, stop below 0.7120. Only break of 0.7078 wud signal temp. top is made...

Rate: 0.7155

Strategy: Hold long
Position: Long at 0.7125
Objective: 0.7185
Stop-Loss: 0.7118
Resistance:
0.7182/0.7252/0.7281
Support: 0.7120/0.7078/0.7044





SEP T-BOND FUTURES DAILY OUTLOOK - 111.01
Update Time : 2004/08/09 00:22GMT

Although T-bond has retreated after last Friday`s rally to 112.00, as long as 110.16 holds,
upmove fm 106.05 shud resume for said res n then 112.14.

Hold long, stop below said sup, break wud risk 110.05 but 109.15 wud hold n bring rebound...

Rate: 111.01

Strategy: Long at 110.31
Position: Long at 110.31
Objective: 111.28
Stop-Loss: 110.15
Resistance:
111.08/112.00/112.14
Support: 110.16/109.28/109.15






YESTERDAY`S RECOMMENDED TRADES

EUROPEAN CLOSING USD/CHF OUTLOOK - +1.2520+
Update Time : 2004/08/06 15:06GMT

Similar to euro, as dlr has remained under pressure, suggesting retrace. of recent rise fm
1.2202 is still in progress n further weakness to 1.2510/15 is envisaged, however, reckon
1.2465/70 wud hold due to o/sold condition n yield rebound.

Trade fm short side with stop as indicated. Only abv 1.2610 wud signal intra-day low is
made, 1.2650

Rate: +1.2520+
Strategy: +Target met+
Position: Short at 1..2570
Objective: 1.2520
Stop-Loss:
Resistance: 1.2600/1.2686/1.2725
Support: 1.2500/1.2436/1.2407


INTRA-DAY USD/YEN OUTLOOK - +110.00+
Update Time : 2004/08/06 12:59GMT

As intra-day selloff has gathered momentum, suggesting further decline fm 112.49 to retrace
early entire rise fm 107.02 has resumed n weakness to 110.00 is seen, then 109.75/80 but
reckon 109.42 sup wud hold on 1st testing.

Sell recovery for 110.30 or on break of 110.35 for 110.00 1st...

Rate: +110.00+
Strategy: +Target met+
Position: +Short at 110.34+
Objective: +110.00+
Stop-Loss:
Resistance: 110.82/111.42/111.90
Support: 109.61/109.42/108.83


INTRA-DAY EUR/GBP CROSS OUTLOOK - +0.6640+
Update Time : 2004/08/06 12:35GMT

As euro is able to stage a strg rebound after holding abv 0.6598 sup, upside bias is retained
for gain to 0.6626 res, abv wud confirm retrace. of recent decline fm 0.6733 has taken place
n bring further gain to 0.6649.

Hold long, stop as indicated, only below 0.6591 wud abort n risk one more fall to 0.6565/70...

Rate: +0.6640+
Strategy: +Target met+
Position: Long at 0.6610
Objective: 0.6630
Stop-Loss:
Resistance: 0.6649/0.6686/0.6700
Support: 0.6601/0.6591/0.6580


INTRA-DAY EUR/GBP CROSS OUTLOOK - +0.6620+
Update Time : 2004/08/06 05:25GMT

As euro has continued to edge higher, suggesting intra-day upside bias remains for test of
0.6622 but a break there is needed to signal retracement of recent decline fm 0.6733 is
under way n bring further subsequent gain twd res at 0.6649.

Hold long with stop below y`day`s low at 0.6598, break aborts n risks one more fall to
0.6575...

Rate: +0.6620+
Strategy: +Target met+
Position: Long at 0.6600
Objective: 0.6620 1st
Stop-Loss:
Resistance: 0.6622/0.6649/0.6686
Support: 0.6591/0.6580/0.6545


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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