TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2253
Update Time : 08:15GMT
As euro has rebounded after finding support at 1.2195, suggesting correction from 1.2320 has ended there and upside bias remains for upmove from 1.1968 to resume, bring re-test of said resistance later but overbought condition would prevent strong rise and risk has increased for a retreat.
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INTRA-DAY EUR/USD OUTLOOK - +1.2270+
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Update Time : 2004/08/12 08:46GMT
Euro's firm breach of 1.2248 indicates upside bias remains for a strg retracement of the decline fm 1.2320 n further gain twd 1.2288/91 is envisaged but reckon said res wud hold on 1st testing due to o/bought condition n bring retreat.
Buy dips with stop as indicated, below 1.2216 wud abort n yield re-test of 1.2195...
Rate: +1.2270+
Strategy: +Hold long+
Position: +Long at 1.2255+
Objective: 1.2285
Stop-Loss: +1.2260+
Resistance: 1.2288/1.2320/1.2368
Support: 1.2216/1.2195/1.2121
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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 - 0.7156
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Update Time : 2004/08/12 07:59GMT
As aussie has risen in tandem with euro, a break abv 0.7179 res wud confirm early upmove fm 0.6932 to retrace intermediate decline fm 0.7348 remains in progress for further gain to 0.7200 but 0.7225/30 wud cap upside.
Buy A$ on dips with stop below 0.7103, break wud risk 0.7060/65 b4 rebound...
Rate: 0.7156
Strategy: Buy at 0.7130
Position:
Objective: 0.7200
Stop-Loss: 0.7090
Resistance: 0.7179/0.7226/0.7281
Support: 0.7103/0.7078/0.7044
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Daily/weekly recommendations, medium term outlook
Spot Gold, Spot Silver, UT T-Bond Future, EURODLR Future
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SEP EURODOLLAR FUTURES DAILY OUTLOOK - 98.13
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Update Time : 2004/08/12 00:29GMT
Although eurodlr's decline fm 98.24 wud extend marginal weakness, reckon 98.09/10 sup wud hold fm here n yield rebound later.
Buy dips with stop as indicated. Abv 98.15 wud signal corrective fall has ended, 98.17/18 1st...
Rate: 98.13
Strategy: Buy at 98.10
Position:
Objective: 98.18
Stop-Loss: 98.06
Resistance: 98.17/98.24/98.30
Support: 98.09/98.06/98.00
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YESTERDAY'S RECOMMENDED TRADES
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DAILY NZD/USD OUTLOOK - +0.6550+
Update Time : 2004/08/11 18:21GMT
Kiwi's rebound fm 0.6465 suggests correction fm 0.6567 has ended n further gain to 0.6550 is seen but abv needed to extend recent
upmove twds 0.6610.
Hold long, stop as indicated, break aborts n risks stronger retrace. to 0.6410/15 b4 rebound...
Rate: +0.6550+
Strategy: +Target met+
Position: Long at 0.6485
Objective: 0.6550
Stop-Loss:
Resistance: 0.6567/0.6620/0.6682
Support: 0.6465/0.6412/0.6365
EUROPEAN CLOSING GBP/USD OUTLOOK - +1.8300+
Update Time : 2004/08/11 15:22GMT
As cable has rebounded after holding abv 1.8247/49 sup, suggesting consolidation with upside bias to 1.8300/05 is seen but abv needed to confirm intra-day low is made n bring retrace. of y'day's selloff to 1.8340 but 1.8375/80 shud remain intact.
Hold long, stop as indicated. Only below 1.8247 wud risk marginal weakness to 1.8315/20 b4 up...
Rate: +1.8300+
Strategy: +Target met+
Position: Long at 1.8265
Objective: 1.8300
Stop-Loss:
Resistance: 1.8340/1.8407/1.8475
Support: 1.8247/1.8201//1.8150
INTRA-DAY EUR/YEN CROSS OUTLOOK - +136.28+
Update Time : 2004/08/11 02:37GMT
As euro has retreated after y'day's rally to 136.58, suggesting recent upmove has made a temp. top there n consolidation with downside bias is envisaged but reckon 135.80 shud contain pullback n yield rebound, however, said res wud hold in Asia.
Exit short n buy at 136.00 for rebound to 136.30 with stop at 135.75
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Rate: +136.28+
Strategy: +Target met+
Position: +Long at 136.00+
Objective: 136.30 1st
Stop-Loss:
Resistance: 136.58/137.00/137.39
Support: 135.90/135.57/135.20
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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
URL: www.acetrader.com - 24 hours real-time intra-day forex
strategies
Reuters Index: TREN01 since 1989
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