Shrewd Investing

[Shrewd Dude]

TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2277
Update Time : 08:10GMT

Euro's consolidation from yesterday's high at 1.2291 is likely to continue, however, reckon renewed buying interest wud emerge well above 1.2190/00 and bring resumption of recent upmove from 1.1968, above said resistance would bring one more rise towards 1.2350 later.


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INTRA-DAY EUR/YEN CROSS OUTLOOK - 135.90
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Update Time : 2004/08/10 08:52GMT

As euro has risen after finding renewed buying at 135.57, suggesting recent upmove fm 132.86 wud extend further gain to indicated obj., however, as this move is losing momentum, reckon 136.30/35 wud cap upside n risk has increased for a retreat.

Hold long, stop as indicated, only below 135.57 wud signal an intra-day top is made n risk 135.20..

Rate: 135.90
Strategy: Hold long
Position: Long at 135.60
Objective: 136.00
Stop-Loss: 135.70
Resistance: 136.00/136.32/136.70
Support: 135.43/135.20/135.00

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DAILY EUR/GBP CROSS OUTLOOK - 0.6676
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Update Time : 2004/08/10 07:44GMT

Euro's present firmness suggests as long as 0.6649 sup (prev. res) holds, upside bias remains for early rally fm 0.6580 to retrace the fall fm 0.6733 to resume later twds 0.6700, however, as broad outlook is consolidative, said res wud remain intact.

Hold long, stop at break-even, only below 0.6649 wud signal top is made n risk 0.6622 sup...


Rate: 0.6676
Strategy: Hold long
Position: Long at 0.6655
Objective: 0.6695
Stop-Loss: 0.6655
Resistance: 0.6686/0.6700/0.6733
Support: 0.6649/0.6622/0.6601


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SPOT GOLD DAILY OUTLOOK - 399.50
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Update Time : 2004/08/10 00:34GMT
SPOT GOLD DAILY OUTLOOK - 399.50

As long as 398.20 holds, upside bias remains for recent upmove fm 385.75 to retrace decline fm 408.60 to resume n extend gain to 402.00, then 406.15.

Hold long, stop below there, break risks stronger correction but
reckon 395.50 sup wud hold...

Rate: 399.50
Strategy: Long at 398.50
Position: Long at 398.50
Objective: 402.00
Stop-Loss: 398.00
Resistance: 402.00/406.15/408.60
Support: 398.20/394.50/390.90


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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
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Trendsetter Financial Markets Limited
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