TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER
Fri, 13 Aug 2004 09:04GMT
Daily report
By AceTrader
http://www.acetrader.com

1-week full trial for USD 20 only.


EUR/USD - 1.2198
Update Time : 08:15GMT

As euro has fallen after being capped below 1.2320 resistance, suggesting intermediate rise
from 1.2020 is still being retraced, however, oversold condition would limit downside and
reckon 1.2090 would hold and yield rebound to 1.2260/70 later.


INTRA-DAY USD/CHF OUTLOOK - +1.2599+
Update Time : 2004/08/13 08:22GMT

Despite early stronger than expected rebound, subsequent renewed selling at 1.2630
suggests an intra-day top has possibly been made n further choppy consolidation with
downside bias is seen for weakness to 1.2547/50 but 1.2508 wud hold fm here.

Reinstate short on recovery, stop abv there, only breach of 1.2647 wud risk 1.2686/88 res...


Rate: +1.2599+

Strategy: +Hold short+
Position: +Short at 1.2600+
Objective: 1.2550 1st
Stop-Loss: 1.2632
Resistance:
1.2647/1.2686/1.2725
Support: 1.2547/1.2491/1.2453



DAILY EUR/GBP CROSS OUTLOOK - 0.6719
Update Time : 2004/08/13 08:17GMT

Euro`s present firmness suggests upside bias remains for another leg of upmove fm last
month`s low at 0.6545 to retrace intermediate decline fm 0.7088 to take place n bring further
gain to 0.6750/55 b4 retreat due to o/bot condition.

Buy pullback with stop below 0.6672 sup, break wud prolong choppy consolidation n risk
0.6652...

Rate: 0.6719

Strategy: Buy at 0.6705
Position:

Objective: 0.6750
Stop-Loss: 0.6670
Resistance:
0.6733/0.6768/0.6815
Support: 0.6672/0.6652/0.6622


SPOT GOLD DAILY OUTLOOK - 393.90
Update Time : 2004/08/13 00:47GMT

Current retreat after holding below indicated res 398.00 has retained our bearishness for
early fall fm 400.80 to extend weakness twd 390.90 sup.

Hold short, stop 396.50, only abv said res wud prolong consolidation n risk 400.00 b4 down...

Rate: 393.90

Strategy: Short at 395.50
Position:

Objective: 392.00
Stop-Loss: 396.50
Resistance:
397.80/400.80/402.00
Support: 392.95/390.90/389.30



YESTERDAY`S RECOMMENDED TRADES

GBP/YEN DAILY CROSS OUTLOOK - +202.30+
Update Time : 2004/08/12 17:17GMT

Despite stg`s rebound fm 202.18, this move is move is viewed as retrace. of decline fm
204.03, reckon 203.20/25 wud hold n yield retreat.

Sell for indicated obj, below 202.18 wud extend weakness to 201.65/70. Abv 203.30 risks
203.80/85.

Rate: +202.30+

Strategy: +Target met+
Position: Short at 202.90
Objective: 202.30
Stop-Loss:

Resistance:
203.31/204.22/205.29
Support: 202.18/201.65/201.20



DAILY OUTLOOK ON USD/CAD - +1.3300+
Update Time : 2004/08/12 15:11GMT

Usd`s rally abv 1.3263 signals retrace. of recent fall fm 1.3385 has resumed n gain to 1.3300
is seen but 1.3345/50 shud hold n bring retreat.

Hold long, stop raised to break-even. Only below 1.3210 signals temp. top is made n risk
1.3130...

Rate: +1.3300+

Strategy: +Target met+
Position: Long at 1.3230
Objective: 1.3300
Stop-Loss:

Resistance:
1.3290/1.3347/1.3370
Support: 1.3195/1.3130/1.3075



DAILY USD/ZAR OUTLOOK - 6.2800
Update Time : 2004/08/12 13:34GMT

Dlr`s rebound after holding abv 6.1650 sup suggests retrace. of nr term fall fm 6.3591
remains in force n gain to 6.2800 is seen but 6.3150 shud hold.

Buy at market with stop as indicated, break wud revive bearishness n yield 6.12/6.13...

Rate: 6.2800

Strategy: +Target met+
Position: Long at 6.2200
Objective: 6.2800
Stop-Loss:

Resistance:
6.2750/6.2839/6.3165
Support: 6.1650/6.0733/6.0250



INTRA-DAY USD/YEN OUTLOOK - +111.00+
Update Time : 2004/08/12 13:32GMT

Lack of downside follow through selling n current rebound suggest a temp. low has been
formed n consolidation with mild upside bias is seen for retrace. of y`day`s decline twd
111.10/15 but res at 111.45/48 wud remain intact.

Turn long for st trade, stop 110.45, break wud risk marginal weakness twds 110.14...

Rate: +111.00+

Strategy: +Target met+
Position: +Long at 110.70+
Objective: 111.00
Stop-Loss:

Resistance:
111.07/111.48/111.90
Support: 110.45/110.14/109.82



INTRA-DAY GBP/USD OUTLOOK - +1.8360+
Update Time : 2004/08/12 12:31GMT

Although cable has retreated after meeting res at 1.8337, as long as 1.8300 holds,
bullishness remains for y`day`s rebound fm 1.8247 to extend gain to indicated obj., however,
as broad outlook is consolidative, res at 1.8407 wud cap upside.

Trade fm long side, stop 1.8295, break wud risk 1.8270 but said sup shud contain weakness...

Rate: +1.8360+

Strategy: +Target met+
Position: Long at 1.8324
Objective: 1.8360
Stop-Loss:

Resistance:
1.8340/1.8407/1.8475
Support: 1.8294/1.8247/1.8201



INTRA-DAY USD/YEN OUTLOOK - +110.49+
Update Time : 2004/08/12 08:52GMT

Although dlr has recovered after finding sup at 110.49 in Asia, as long as minor res at 110.95
holds, intra-day downside bias remains for nr term decline fm 111.48 to resume n extend
weakness to 110.30/35 but 110.14 is expected to remain intact.

Trade fm short side, stop abv there, break wud signal intra-day low is in place n risk
111.25/30..

Rate: +110.49+

Strategy: +Target met+
Position: Short at 110.75
Objective: 110.45
Stop-Loss:

Resistance:
110.95/111.07/111.48
Support: 110.14/109.82/109.11


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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