TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2348
Update Time : 08:00GMT
Although Euro's rally from 1.2175 on Friday indicates recent upmove remains in progress, overbought condition would prevent further strong rise and reckon chart resistance at 1.2462 would hold on 1st testing and yield retreat. Below 1.2300/10 would signal a temporary top has possibly been formed.
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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 GBP/USD OUTLOOK - +1.8421+
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Update Time : 2004/08/16 08:38GMT
Although cable has rebounded after finding sup at 1.8380/85, a break abv minor res at 1.8420 is needed to signal recent upmove has resumed, bring re-test of Friday's high at 1.8455 n then twd chart lvl at 1.8475.
Buy again on dips for 1.8415 or on break of 1.8420 for 1.8455 with 30 points stop...
Rate: +1.8421+
Strategy: +Hold long+
Position: +Long at 1.8421+
Objective: +1.8455+
Stop-Loss: +1.8395+
Resistance: 1.8455/1.8475/1.8511
Support: 1.8370/1.8310/1.8247
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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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GBP/YEN DAILY CROSS OUTLOOK - 203.92
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Update Time : 2004/08/16 07:17GMT
Despite stg's retreat after Friday's rise to 204.10, reckon 203.20/25 wud contain pullback n yield resumption of recent upmove for indicated obj.
Hold long, stop there, below wud prolong choppy consolidation n risk 202.35/40...
Rate: 203.92
Strategy: Long at 203.85
Position: Long at 203.85
Objective: 204.85
Stop-Loss: 203.20
Resistance: 204.22/205.29/206.00
Support: 202.90/202.55/201.90
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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 - 111.06
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Update Time : 2004/08/16 00:26GMT
T-bond's rally to 111.17 signals recent upmove has resumed n test of 112.00 is seen, abv extends gain twd 112.16 b4 prospect of a retreat.
Hold long with stop as indicated, below wud risk stronger correction but 110.02/06 shud hold...
Rate: 111.06
Strategy: Long at 111.02
Position: Long at 111.02
Objective: 111.24
Stop-Loss: 110.22
Resistance: 111.17/112.00/112.22
Support: 110.28/110.02/109.15
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YESTERDAY'S RECOMMENDED TRADES
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INTRA-DAY GBP/USD OUTLOOK - +1.8440+
Update Time : 2004/08/13 16:35GMT
As cable has rebounded again after holding abv 1.8370 (prev. res), suggesting intra-day rally wud extend gain to 1.8440/45, however, as broad outlook remains consolidative, reckon res at 1.8475 wud hold on 1st testing.
Buy again with stop as indicated, below risk retracement to 1.8330/35 b4 up...
Rate: +1.8440+
Strategy: +Target met+
Position: +Long at 1.8400+
Objective: 1.8440
Stop-Loss:
Resistance: 1.84751.8511/1.8572
Support: 1.8370/1.8310/1.8247
INTRA-DAY GBP/USD OUTLOOK - +1.8340+
Update Time : 2004/08/13 12:49GMT
As cable has rebounded strongly after the worse than expected U.S. trade deficit, suggesting temp. low has beemn formed at 1.8134 n consolidation with upside bias for retrace. of nr term fall fm 1.8475 is underway to 1.8340/40 but 1.8370 wud hold.
Buy again with stop as indicated, break wud signal stronger correction to 1.8245/50 b4 up...
Rate: +1.8340+
Strategy: +Target met+
Position: +Long at 1.8300+
Objective: 1.8340
Stop-Loss:
Resistance: 1.8370/1.8407/1.8475
Support: 1.8247/1.8195/1.8134
INTRA-DAY EUR/USD OUTLOOK - +1.2340+
Update Time : 2004/08/13 13:16GMT
As intra-day upmove has gathered momentum, suggesting last week's rally has resumed n abv 1.2304 res wud confirm this view n bring further gain twds 1.2351, however, o/bot condition is likely to limit upside to 1.2380.
Buy again on dips for 1.2300 or on break of 1.2304 for 1.2340. Below 1.2245/50 risks 1.2220/25...
Rate: +1.2340+
Strategy: +Target met+
Position: +Long at 1.2305+
Objective: +1.2340+
Stop-Loss:
Resistance: 1.2351/1.2393/1.2462
Support: 1.2263/1.2175/1.2144
INTRA-DAY USD/CHF OUTLOOK - +1.2480+
Update Time : 2004/08/13 12:40GMT
As intra-day selloff fm 1.2630 has accelerated, suggesting a test of 1.2508 wud be seen, below wud confirm last week's fall fm 1.2860 has resumed for further weakness to 1.2480, however, o/sold condition is likely to limit downside to 1.2450.
Sell with stop as indicated n take profit on subsequent decline...
Rate: +1.2480+
Strategy: +Target met+
Position: Short at 1.2540
Objective: 1.2480
Stop-Loss:
Resistance: 1.2547/1.2647/1.2686
Support: 1.2485/1.2453/1.2407
INTRA-DAY USD/YEN OUTLOOK - +110.70+
Update Time : 2004/08/13 12:59GMT
Present penetration of 111.25 after the worse than exepcted U.S. trade deficit suggests temp. top is made at 112.10 n consolidation with downside bias for retrace. of nr term rise fm 109.82 to 110.70/75 but 110.42/45 sup wud hold on 1st testing.
Sell again with stop as indicated, abv wud signal stronger correction to 111.65/70 b4 retreat...
Rate: +110.70+
Strategy: +Target met+
Position: Short at 111.10
Objective: 110.70
Stop-Loss:
Resistance: 112.10/112.49/113.00
Support: 111.48/111.25/110.76
INTRA-DAY USD/YEN OUTLOOK - +111.45+
Update Time : 2004/08/13 12:31GMT
Dlr's retreat fm 112.10 suggests a temp. top has been made there n consolidation with mild downside bias is seen for retrace. to 111.50 but sup at 111.25 (prev. res) shud remain intact n yield resumption of recent upmove.
Hold short for st trade n exit on decline, stop 112.00, abv wud risk marginal gain twds 112.49...
Rate: +111.45+
Strategy: +Target met+
Position: Short at 111.80
Objective: 111.50
Stop-Loss:
Resistance: 112.10/112.49/113.00
Support: 111.48/111.25/110.76
INTRA-DAY EUR/YEN CROSS OUTLOOK - +136.60+
Update Time : 2004/08/13 00:04GMT
As euro has risen strongly after the release of weaker than expected GDP, suggesting correction fm 136.58 has indeed ended earlier at 135.14 n further gain twd chart res at 136.70 is envisaged but rec-kon 137.00 wud limit upside due to o/bot condition.
Buy for this move with stop as indicated, below wud defer n risk
pullback twd 135.63 sup...
Rate: +136.60+
Strategy: +Target met+
Position: +Long at 136.28+
Objective: 136.65
Stop-Loss:
Resistance: 136.70/137.02/137.86
Support: 136.12/135.63/135.14
SEP T-BOND FUTURES DAILY OUTLOOK - 111.04
Update Time : 2004/08/13 12:42GMT
T-bond's rebound after holding abv 110.02 indicates a test of 111.04 wud be seen but a firm break is needed to signal correction fm 112.00 has ended.
Trade fm long side with stop as indicated, below said sup wud risk correction to 109.26/28...
Rate: 111.04
Strategy: +Target met+
Position: Long at 110.10
Objective: 111.04
Stop-Loss:
Resistance: 111.04/111.10/112.00
Support: 110.02/109.15/109.08
DAILY USD/ZAR OUTLOOK - +6.5000+
Update Time : 2004/08/13 06:32GMT
Dlr's rally abv 6.3591 res indicates retrace. of intermediate decline fm 7.1602 is under way for further gain to 6.5000 b4 retreat due to o/b condition.
Trade fm long with stop at 6.37, below wud risk pullback twd 6.31/6.32 b4 rebound...
Rate: +6.5000+
Strategy: +Target met+
Position: Long at 6.4250
Objective: 6.5000
Stop-Loss:
Resistance: 6.5510/6.6425/6.7000
Support: 6.3591/6.2750/6.1650
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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
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email: alex@acetrader.com
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