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TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2198
Update Time : 08:15GMT
As euro has fallen after being capped below 1.2320 resistance, suggesting intermediate rise from 1.2020 is still being retraced, however, oversold condition would limit downside and reckon 1.2090 would hold and yield rebound to 1.2260/70 later.
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Premier Package
Intraday/daily/weekly recommendations, medium term outlook, daily technical outlook, wave analysis
(Majors) - USD 300/m, (Majors/Minors/Crosses) - USD 360/m
Contact us for further information query@acetrader.com
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INTRA-DAY USD/CHF OUTLOOK - +1.2599+
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Update Time : 2004/08/13 08:22GMT
Despite early stronger than expected rebound, subsequent renewed selling at 1.2630 suggests an intra-day top has possibly been made n further choppy consolidation with downside bias is seen for weakness to 1.2547/50 but 1.2508 wud hold fm here.
Reinstate short on recovery, stop abv there, only breach of 1.2647 wud risk 1.2686/88 res...
Rate: +1.2599+
Strategy: +Hold short+
Position: +Short at 1.2600+
Objective: 1.2550 1st
Stop-Loss: 1.2632
Resistance: 1.2647/1.2686/1.2725
Support: 1.2547/1.2491/1.2453
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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
Contact us for further information query@acetrader.com
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DAILY EUR/GBP CROSS OUTLOOK - 0.6719
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Update Time : 2004/08/13 08:17GMT
Euro's present firmness suggests upside bias remains for another leg of upmove fm last month's low at 0.6545 to retrace intermediate decline fm 0.7088 to take place n bring further gain to 0.6750/55 b4 retreat due to o/bot condition.
Buy pullback with stop below 0.6672 sup, break wud prolong choppy consolidation n risk 0.6652...
Rate: 0.6719
Strategy: Buy at 0.6705
Position:
Objective: 0.6750
Stop-Loss: 0.6670
Resistance: 0.6733/0.6768/0.6815
Support: 0.6672/0.6652/0.6622
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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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SPOT GOLD DAILY OUTLOOK - 393.90
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Update Time : 2004/08/13 00:47GMT
Current retreat after holding below indicated res 398.00 has retained our bearishness for early fall fm 400.80 to extend weakness twd 390.90 sup.
Hold short, stop 396.50, only abv said res wud prolong consolidation n risk 400.00 b4 down...
Rate: 393.90
Strategy: Short at 395.50
Position:
Objective: 392.00
Stop-Loss: 396.50
Resistance: 397.80/400.80/402.00
Support: 392.95/390.90/389.30
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YESTERDAY'S RECOMMENDED TRADES
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GBP/YEN DAILY CROSS OUTLOOK - +202.30+
Update Time : 2004/08/12 17:17GMT
Despite stg's rebound fm 202.18, this move is move is viewed as retrace. of decline fm 204.03, reckon 203.20/25 wud hold n yield
retreat.
Sell for indicated obj, below 202.18 wud extend weakness to 201.65/70. Abv 203.30 risks 203.80/85.
Rate: +202.30+
Strategy: +Target met+
Position: Short at 202.90
Objective: 202.30
Stop-Loss:
Resistance: 203.31/204.22/205.29
Support: 202.18/201.65/201.20
DAILY OUTLOOK ON USD/CAD - +1.3300+
Update Time : 2004/08/12 15:11GMT
Usd's rally abv 1.3263 signals retrace. of recent fall fm 1.3385 has resumed n gain to 1.3300 is seen but 1.3345/50 shud hold n bring retreat.
Hold long, stop raised to break-even. Only below 1.3210 signals temp. top is made n risk 1.3130...
Rate: +1.3300+
Strategy: +Target met+
Position: Long at 1.3230
Objective: 1.3300
Stop-Loss:
Resistance: 1.3290/1.3347/1.3370
Support: 1.3195/1.3130/1.3075
DAILY USD/ZAR OUTLOOK - 6.2800
Update Time : 2004/08/12 13:34GMT
Dlr's rebound after holding abv 6.1650 sup suggests retrace. of nr term fall fm 6.3591 remains in force n gain to 6.2800 is seen but 6.3150 shud hold.
Buy at market with stop as indicated, break wud revive bearishness n
yield 6.12/6.13...
Rate: 6.2800
Strategy: +Target met+
Position: Long at 6.2200
Objective: 6.2800
Stop-Loss:
Resistance: 6.2750/6.2839/6.3165
Support: 6.1650/6.0733/6.0250
INTRA-DAY USD/YEN OUTLOOK - +111.00+
Update Time : 2004/08/12 13:32GMT
Lack of downside follow through selling n current rebound suggest a temp. low has been formed n consolidation with mild upside bias is seen for retrace. of y'day's decline twd 111.10/15 but res at 111.45/48 wud remain intact.
Turn long for st trade, stop 110.45, break wud risk marginal weakness twds 110.14...
Rate: +111.00+
Strategy: +Target met+
Position: +Long at 110.70+
Objective: 111.00
Stop-Loss:
Resistance: 111.07/111.48/111.90
Support: 110.45/110.14/109.82
INTRA-DAY GBP/USD OUTLOOK - +1.8360+
Update Time : 2004/08/12 12:31GMT
Although cable has retreated after meeting res at 1.8337, as long as 1.8300 holds, bullishness remains for y'day's rebound fm 1.8247 to extend gain to indicated obj., however, as broad outlook is consolidative, res at 1.8407 wud cap upside.
Trade fm long side, stop 1.8295, break wud risk 1.8270 but said sup shud contain weakness...
Rate: +1.8360+
Strategy: +Target met+
Position: Long at 1.8324
Objective: 1.8360
Stop-Loss:
Resistance: 1.8340/1.8407/1.8475
Support: 1.8294/1.8247/1.8201
INTRA-DAY USD/YEN OUTLOOK - +110.49+
Update Time : 2004/08/12 08:52GMT
Although dlr has recovered after finding sup at 110.49 in Asia, as long as minor res at 110.95 holds, intra-day downside bias remains for nr term decline fm 111.48 to resume n extend weakness to 110.30/35 but 110.14 is expected to remain intact.
Trade fm short side, stop abv there, break wud signal intra-day low is in place n risk 111.25/30..
Rate: +110.49+
Strategy: +Target met+
Position: Short at 110.75
Objective: 110.45
Stop-Loss:
Resistance: 110.95/111.07/111.48
Support: 110.14/109.82/109.11
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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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