TODAY'S FOREX MARKET OUTLOOK
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Update Time : 08:00GMT
EUR/USD - 1.2051
Euro's rebound from 1.1999 suggests a temporary low has been formed there and consolidation with upside bias is seen, bring retracement of recent decline fm 1.2462, however, reckon chart resistance at 1.2190 wud hold and yield retreat.
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Intraday/daily/weekly recommendations, medium term outlook, daily technical outlook, wave analysis
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INTRA-DAY USD/CHF OUTLOOK - +1.2772+
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Update Time : 2004/07/29 09:17GMT
Renewed cross selling in chf has pushed dlr higher n intra-day upside bias is seen for one more rise twd 1.2837, however, loss of upward momentum wud prevent strg gain n abv there n yield retreat later today.
Turn long on dips, stop as indicated, below wud risk 1.2730/35 but 1.2715 sup shud hold...
Rate: +1.2785+
Strategy: +Hold long+
Position: +Long at 1.2785+
Objective: 1.2825
Stop-Loss: +1.2755+
Resistance: 1.2837/1.2874/1.2923
Support: 1.2715/1.2690/1.2664
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Standard Package
Daily/weekly recommendations, medium term outlook, daily technical outlook, wave analysis
(Majors) - USD 150/m, (Majors/Minors/Crosses) - USD 240/m
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DAILY NZD/USD OUTLOOK - 0.6312
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Update Time : 2004/07/29 00:03GMT
Present firmness due to today's 25 b.p. rate hike suggests recent fall has made a temp. low at 0.6235 n gain to 0.6330 is seen, abv, 0.6375/80.
Hold long, stop as indicated n only below 0.6257 aborts this view n risks re-test of 0.6235...
Rate: 0.6312
Strategy: Long at 0.6260
Position: Long at 0.6260
Objective: 0.6330
Stop-Loss: 0.6280
Resistance: 0.6352/0.6408/0.6443
Support: 0.6257/0.6235/0.6193
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Daily/weekly recommendations, medium term outlook
Spot Gold, Spot Silver, UT T-Bond Future, EURODLR Future
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SPOT GOLD DAILY OUTLOOK - 389.50
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Update Time : 2004/07/29 01:06GMT
Y'day's rebound fm 385.75 suggests recent fall fm 408.60 has made a temp. low n minor 'corrective' gain twd 393.50 is seen but 396.75 wud cap upside.
Hold long, stop below 385.75, below wud risk one more fall but 382.00 sup shud remain intact...
Rate: 389.50
Strategy: Long at 388.50
Position:
Objective: 393.00
Stop-Loss: 385.50
Resistance: 393.50/398.20/402.00
Support: 385.75/382.00/378.90
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AceTrader Performance in 1H04
Intraday: USD/YEN (+67pips), EUR/USD (+2041pips), USD/CHF
(+1892pips), GBP/USD (+2189pips)
Daily: USD/YEN (+0pips), EUR/USD (+944pips), USD/CHF (+502
pips), GBP/USD (+ 247pips)
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Alex Tsui
Sales Manager - Internet Based Business
Trendsetter Financial Markets Limited
Tel: (852) 2865 2059
Fax: (852) 2525 9443
email: alex@acetrader.com
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Reuters Index: TREN01 since 1989
