TODAY'S FOREX MARKET OUTLOOK
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Update Time : 08:15GMT
EUR/USD - 1.2018
Despite euro's intra-day selloff, a break below last week's low at 1.1990 is needed to confirm recent decline from 1.2462 has resumed and bring marginal weakness towards support at 1.1954 before prospect of a rebound due to loss of momentum.
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INTRA-DAY USD/CHF OUTLOOK - +1.2794+
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Update Time : 2004/08/03 07:23GMT
As 1.2823 has capped early rise, dlr's retreat fm there suggests further choppy trading within recent established range wud be seen, bring weakness to indicated obj. but reckon minor sup at 1.2730 wud hold on 1st testing.
Turn short on recovery, stop as indicated, only abv 1.2832/35 wud signal upmove has resumed...
Rate: +1.2794+
Strategy: +Hold short+
Position: +Short at 1.2790+
Objective: 1.2750
Stop-Loss: 1.2820
Resistance: 1.2835/1.2860/1.2923
Support: 1.2730/1.2686/1.2664
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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 EUR/CHF CROSS OUTLOOK - 1.5376
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Update Time : 2004/08/03 07:55GMT
Although euro's y'day's fall to 1.5341 confirms a correction of recent upmove has occured, subsequent rebound suggests caution on our bearishness for weakness to 1.5300/10 but loss of momentum wud keep price well abv key sup at 1.5280.
Hold short, stop 1.5410, abv wud abort n risk re-test of 1.5435 res, break, 1.5455/60 b4 retreat.
Rate: 1.5376
Strategy: Hold short
Position: Short at 1.5370
Objective: 1.5320
Stop-Loss: 1.5410
Resistance: 1.5395/1.5435/1.5463
Support: 1.5341/1.5317/1.5280
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Spot Gold, Spot Silver, UT T-Bond Future, EURODLR Future
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SEP EURODOLLAR FUTURES DAILY OUTLOOK - +98.07+
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Update Time : 2004/08/03 03:31GMT
Eurodlr's breach of 98.07 suggests pullback fm 98.11 has ended at 98.00 n recent upmove has resumed, bring re-test of said res n then twd 98.15.
Buy on dips with stop as indicated, break wud shift risk to downside for re-test of said sup...
Rate: +98.07+
Strategy: +Long at 98.07+
Position: +Long at 98.07+
Objective: 98.13
Stop-Loss: 98.03
Resistance: 98.11/98.15/98.19
Support: 98.04/98.00/97.97
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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