Shrewd Investing

[Shrewd Dude]

TODAY'S FOREX MARKET OUTLOOK
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USD/YEN - 1.2061
Update Time : 08:15GMT

As euro has rebounded from 1.1968, suggesting a temporary low has been formed there n consolidation with upside bias is seen, however, above resistance at 1.2121 is needed to confirm a retracement of recent decline from 1.2462 is under way and extend gain towards 1.2190/00.


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INTRA-DAY GBP/USD OUTLOOK - +1.8235+
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Update Time : 2004/08/05 09:16GMT

Current stronger than expected retreat fm 1.8298 signals an intra-day top has been made there n consolidation with downside bias is seen for retrace. of y'day's rise fm 1.8150 to 1.8220 but 1.8190/95 is likely to hold on 1st testing.

Exit long n turn short, stop as indicated, only abv 1.8298 wud revive bullishness, 1.8336...

Rate: +1.8235+
Strategy: +Hold short+
Position: +Short at 1.8260+
Objective: 1.8220
Stop-Loss: +1.8255+
Resistance: 1.8336/1.8373/1.8447
Support: 1.8224/1.8190/1.8150



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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 AUD/USD OUTLOOK - 0.7050
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Update Time : 2004/08/05 07:49GMT

As renewed buying at 0.7010 has lifted A$, retaining bullish prospect for early erratic rise fm 0.6932 to retrace recent fall fm 0.7348 to resume n bring further gain to 0.7100, however, reckon res at 0.7143 wud cap upside n yield retreat later.

Hold long, stop below 0.7010, break confirms top made at 0.7078 but 0.6956 shud remain intact...

Rate: 0.7050
Strategy: Hold long
Position: Long at 0.7040
Objective: 0.7100
Stop-Loss: 0.7008
Resistance: 0.7078/0.7143/0.7189
Support: 0.6990/0.6957/0.6932


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SEP EURODOLLAR FUTURES DAILY OUTLOOK - 98.05
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Update Time : 2004/08/05 00:54GMT

Although T-bond has retreated fm 109.06, as long as 108.14 holds, upmove fm 106.05 shud resume for gain to 109.08 but reckon 109.15 wud remain intact.Hold long, stop below there, break wud signal top is possibly in place n risk weakness to 108.03.

Rate: 108.24
Strategy: Long at 108.25
Position: Long at 108.25
Objective: 109.08
Stop-Loss: 108.13
Resistance: 109.06/109.15/109.25
Support: 108.14/108.03/107.13


Alex Tsui
Sales Manager - Internet Based Business
Trendsetter Financial Markets Limited
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