Shrewd Investing

[Shrewd Dude]

TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2018
Update Time : 08:00GMT

Despite euro's retreat from 1.2077, a break of 1.1990 support is needed to signal recent decline from 1.2462 has resumed, bring weakness towards chart support at 1.1954 before rebound due to loss of momentum.

Above said resistance would signal a temporary low has been formed and yield correction towards 1.2190.


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INTRA-DAY EUR/USD OUTLOOK - +1.2015+
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Update Time : 2004/08/04 08:21GMT

Euro's strg retreat fm 1.2077 suggests further choppy trading within near term established range wud be seen n although marginal weakness can't be ruled out, sup at 1.1990 shud remain intact n yield recovery to indicated obj. later.

Venture long on dips, stop below there, break wud signal decline has resumed n yield 1.1954 sup..

Rate: +1.2015+
Strategy: +Hold long+
Position: +Long at 1.2015+
Objective: 1.2045
Stop-Loss: 1.1988
Resistance: 1.2077/1.2093/1.2121
Support: 1.1990/1.1954/1.1888


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DAILY EUR/YEN CROSS OUTLOOK - 133.86
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Update Time : 2004/08/04 08:12GMT

Euro's intra-day rebound signals price wud continue to gyrate within early established range fm 135.79 n consolidation with upside bias is seen for retrace. of decline fm 135.40 twds 34.40 but 134.94 wud remain intact n yield retreat later.

Buy dips, stop 133.20, break wud risk another test of 132.83/86 sup
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Rate: 133.86
Strategy: Buy at 133.65
Position:
Objective: 134.30
Stop-Loss: 133.20
Resistance: 134.20/134.94/135.40
Support: 133.14/132.83/132.30

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SPOT SILVER DAILY OUTLOOK - 6.65
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Update Time : 2004/08/04 00:30GMT

Silver's strg rebound fm 6.48 indicates recent rise fm 6.13 has resumed for re-test of prev. res 6.74 but 6.80 wud cap upside n yield correction.

Hold long, stop at 6.60, below wud risk 6.53 but break of 6.48 needed to signal top is in place.

Rate: 6.65
Strategy: Long at 6.56
Position: Long at 6.56
Objective: 6.74
Stop-Loss: 6.60
Resistance: 6.67 / 6.74 / 6.80
Support: 6.53 / 6.48 / 6.38



Alex Tsui
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Trendsetter Financial Markets Limited
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Reuters Index: TREN01 since 1989