TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Thur, 12 Aug 2004 08:56GMT
Daily report
By AceTrader
http://www.acetrader.com

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EUR/USD - 1.2253
Update Time : 08:15GMT

As euro has rebounded after finding support at 1.2195, suggesting correction from 1.2320
has ended there and upside bias remains for upmove from 1.1968 to resume, bring re-test of
said resistance later but overbought condition would prevent strong rise and risk has
increased for a retreat.


INTRA-DAY EUR/USD OUTLOOK - +1.2270+
Update Time : 2004/08/12 08:46GMT

Euro`s firm breach of 1.2248 indicates upside bias remains for a strg retracement of the
decline fm 1.2320 n further gain twd 1.2288/91 is envisaged but reckon said res wud hold on
1st testing due to o/bought condition n bring retreat.

Buy dips with stop as indicated, below 1.2216 wud abort n yield retest of 1.2195...

Rate: +1.2270+

Strategy: +Hold long+
Position: +Long at 1.2255+
Objective: 1.2285
Stop-Loss: +1.2260+
Resistance:
1.2288/1.2320/1.2368
Support: 1.2216/1.2195/1.2121



DAILY AUD/USD OUTLOOK - 0.7156
Update Time : 2004/08/12 07:59GMT

As aussie has risen in tandem with euro, a break abv 0.7179 res wud confirm early upmove
fm 0.6932 to retrace intermediate decline fm 0.7348 remains in progress for further gain to
0.7200 but 0.7225/30 wud cap upside.

Buy A$ on dips with stop below 0.7103, break wud risk 0.7060/65 b4 rebound...

Rate: 0.7156

Strategy: Buy at 0.7130
Position:

Objective: 0.7200
Stop-Loss: 0.7090
Resistance:
0.7179/0.7226/0.7281
Support: 0.7103/0.7078/0.7044


SEP EURODOLLAR FUTURES DAILY OUTLOOK - 98.13
Update Time : 2004/08/12 00:29GMT

Although eurodlr`s decline fm 98.24 wud extend marginal weakness, reckon 98.09/10 sup
wud hold fm here n yield rebound later.

Buy dips with stop as indicated. Abv 98.15 wud signal corrective fall has ended, 98.17/18
1st...

Rate: 98.13

Strategy: Buy at 98.10
Position:

Objective: 98.18
Stop-Loss: 98.06
Resistance:
98.17/98.24/98.30
Support: 98.09/98.06/98.00




YESTERDAY`S RECOMMENDED TRADES

DAILY NZD/USD OUTLOOK - +0.6550+
Update Time : 2004/08/11 18:21GMT

Kiwi`s rebound fm 0.6465 suggests correction fm 0.6567 has ended n further gain to 0.6550
is seen but abv needed to extend recent upmove twds 0.6610.

Hold long, stop as indicated, break aborts n risks stronger retrace. to 0.6410/15 b4 rebound...

Rate: +0.6550+

Strategy: +Target met+
Position: Long at 0.6485
Objective: 0.6550
Stop-Loss:

Resistance:
0.6567/0.6620/0.6682
Support: 0.6465/0.6412/0.6365



EUROPEAN CLOSING GBP/USD OUTLOOK - +1.8300+
Update Time : 2004/08/11 15:22GMT

As cable has rebounded after holding abv 1.8247/49 sup, suggesting consolidation with
upside bias to 1.8300/05 is seen but abv needed to confirm intra-day low is made n bring
retrace. of y`day`s selloff to 1.8340 but 1.8375/80 shud remain intact.

Hold long, stop as indicated. Only below 1.8247 wud risk marginal weakness to 1.8315/20 b4
up...

Rate: +1.8300+

Strategy: +Target met+
Position: Long at 1.8265
Objective: 1.8300
Stop-Loss:

Resistance:
1.8340/1.8407/1.8475
Support: 1.8247/1.8201//1.8150



INTRA-DAY EUR/YEN CROSS OUTLOOK - +136.28+
Update Time : 2004/08/11 02:37GMT

As euro has retreated after y`day`s rally to 136.58, suggesting recent upmove has made a
temp. top there n consolidation with downside bias is envisaged but reckon 135.80 shud
contain pullback n yield rebound, however, said res wud hold in Asia.

Exit short n buy at 136.00 for rebound to 136.30 with stop at 135.75...

Rate: +136.28+

Strategy: +Target met+
Position: +Long at 136.00+
Objective: 136.30 1st
Stop-Loss:

Resistance:
136.58/137.00/137.39
Support: 135.90/135.57/135.20




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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