TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2261
Update Time : 08:15GMT
Last Friday's rally confirms decline from 1.2462 has formed a temporary low at 1.1968 and a retracement of said fall is under way for further gain towards 1.2340/50 before retreat due to loss of momentum. Below 1.2190 would bring pullback to 1.2150/60 before prospect of a rebound.
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Intraday/daily/weekly recommendations, medium term outlook, daily technical outlook, wave analysis
(Majors) - USD 300/m, (Majors/Minors/Crosses) - USD 360/m
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INTRA-DAY EUR/USD OUTLOOK - 1.2266
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Update Time : 2004/08/09 08:37GMT
As 1.2253 has contained pullback fm 1.2291, suggesting correction has possibly ended there n outlook remains supportive for Friday's rally to resume for marginal gain to 1.2300 but loss of nr term momentum wud limit upside to 1.2325/30.
Buy again with stop at 1.2245, break wud risk retrace. to 1.2210/15 b4 up...
Rate: 1.2266
Strategy: Buy again at market
Position:
Objective: 1.2300
Stop-Loss: 1.2245
Resistance: 1.2291/1.2317/1.2351
Support: 1.2230/1.2190/1.2121
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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 AUD/USD OUTLOOK - 0.7155
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Update Time : 2004/08/09 08:27GMT
A$'s rally abv 0.7078 (now sup) confirms recent decline fm 0.7348 has made a low earlier at 0.6932 n upside bias is seen for a strg retracement of this move to 0.7185/90 (62% r) but reckon 0.7230 wud hold due to o/bot condition n bring retreat.
Trade fm long side, stop below 0.7120. Only break of 0.7078 wud signal temp. top is made...
Rate: 0.7155
Strategy: Hold long
Position: Long at 0.7125
Objective: 0.7185
Stop-Loss: 0.7118
Resistance: 0.7182/0.7252/0.7281
Support: 0.7120/0.7078/0.7044
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Futures & Bullions
Daily/weekly recommendations, medium term outlook
Spot Gold, Spot Silver, UT T-Bond Future, EURODLR Future
USD 150/m Contact us for further information query@acetrader.com
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SEP T-BOND FUTURES DAILY OUTLOOK - 111.01
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Update Time : 2004/08/09 00:22GMT
Although T-bond has retreated after last Friday's rally to 112.00, as long as 110.16 holds, upmove fm 106.05 shud resume for said res n then 112.14.
Hold long, stop below said sup, break wud risk 110.05 but 109.15 wud hold n bring rebound...
Rate: 111.01
Strategy: Long at 110.31
Position: Long at 110.31
Objective: 111.28
Stop-Loss: 110.15
Resistance: 111.08/112.00/112.14
Support: 110.16/109.28/109.15
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AceTrader Performance Update
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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
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
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