TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2357
Update Time : 08:00GMT
As euro has rebounded from 1.2315, suggesting upmove from 1.1968 has resumed and one more rise to 1.2400/10 is envisaged but loss of momentum would cap upside below 1.2462 chart resistance and yield retreat.
Below support at 1.2315 would signal a temporary top is in place.
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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
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INTRA-DAY USD/YEN OUTLOOK - 110.41
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Update Time : 2004/08/17 08:16GMT
As y'day's low at 110.25 has remained intact, dlr's intra-day recovery suggests consolidation wud be seen but as long as minor res at 110.60 holds, downside bias remains for one more fall twd 110.00/10 b4 rebound due to loss of momentum.
Hold short for st trade with stop as indicated, abv wud signal intra-day low is in place, 110.80...
Rate: 110.41
Strategy: Hold short for st trade
Position: Short at 110.55
Objective: 110.20
Stop-Loss: 110.55
Resistance: 110.60/111.01/111.25
Support: 110.25/109.82/109.27
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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/CHF CROSS OUTLOOK - 1.5329
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Update Time : 2004/08/17 07:52GMT
DAILY EUR/CHF CROSS OUTLOOK - 1.5329
Euro's present weakness suggests near term decline fm 1.5449 to
retrace recent upmove fm 1.5037 remains in force n further fall twds 1.5280 sup is envisaged, however, loss of momentum wud keep
price abv 1.5240/45 n bring strg rebound later this week.
Hold short, stop 1.5375, break wud signal temp. low is made n yield 1.5400 but 1.5449 wud hold...
Rate: 1.5329
Strategy: Hold short
Position: Short at 1.5345
Objective: 1.5285
Stop-Loss: 1.5375
Resistance: 1.5372/1.5415/1.5449
Support: 1.5280/1.5243/1.5210
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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 - 110.24
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Update Time : 2004/08/17 00:24GMT
Despite y'day's strg retreat, as T-bond has rebounded fm 110.11,
consolidation with upside bias is seen, however, res at 111.17 is likely to hold.
Trade fm long side, stop below there, break wud shift risk to
downside for test of 110.02 sup...
Rate: 110.24
Strategy: Long at 110.16
Position: Long at 110.16
Objective: 111.02
Stop-Loss: 110.10
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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EUROPEAN CLOSING EUR/USD OUTLOOK - +1.2325+
Update Time : 2004/08/16 15:30GMT
Euro's present weakness after holding below 1.2384 suggests intra-day top has been formed there n consolidation with downside bias to 1.2320/25 is seen, however, reckon 1.2290/95 shud contain weak-ness n yield resumption of recent upmove tom.
Hold short for st trade with stop as indicated, break wud risk marginal gain to 1.2415 b4 retreat.
Rate: +1.2325+
Strategy: +Target met+
Position: Short at 1.2360
Objective: 1.2325
Stop-Loss:
Resistance: 1.2384/1.2462/1.2500
Support: 1.2320/1.2263/1.2175
GBP/YEN DAILY CROSS OUTLOOK - +203.30+
Update Time : 2004/08/16 15:28GMT
Stg's retreat fm 204.73 suggests a temp. top has been formed n
downside bias is seen for retracement to 203.20/25 b4 prospect of rebound.
Sell recovery, stop abv there, break wud extend one more rise to
205.00.
Rate: +203.30+
Strategy: +Target met+
Position: +Short at 204.30+
Objective: 203.30
Stop-Loss:
Resistance: 204.73/205.29/206.00
Support: 203.23/202.90/202.52
EUROPEAN CLOSING GBP/USD OUTLOOK - +1.8385+
Update Time : 2004/08/16 15:14GMT
As cable has eased after holding below 1.8468, suggesting intra-day top has possibly been formed there n consolidation with downside bias for retrace. of last wk's rally fm 1.8133 to 1.8385 is seen but 1.8340/45 wud hold n bring rebound.
Trade fm short side with stop as indicated, abv wud signal correction has ended, 1.8475...
Rate: +1.8385+
Strategy: +Target met+
Position: Short at 1.8425
Objective: 1.8385
Stop-Loss:
Resistance: 1.8475/1.8511/1.8572
Support: 1.8381/1.8310/1.8247
INTRA-DAY GBP/USD OUTLOOK - +1.8455+
Update Time : 2004/08/16 09:04GMT
Although cable has rebounded after finding sup at +1.8381+, 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: +1.8455+
Strategy: +Target met+
Position: +Long at 1.8421+
Objective: +1.8455+
Stop-Loss:
Resistance: 1.8475/1.8511/1.8572
Support: 1.8381/1.8310/1.8247
INTRA-DAY EUR/YEN CROSS OUTLOOK - +137.01+
Update Time : 2004/08/16 07:14GMT
Although indicated res at 133.99 has continued to hold n further
consolidation is envisaged, reckon sup at 136.47 wud remain intact n bring resumption of upmove for marginal gain abv said res but 137.20/25 wud hold due to loss of momentum.
Hold long with stop below there, break wud shift risk to downside for test of 136.22 1st...
Rate: +137.01+
Strategy: +Target met+
Position: Long at 136.70
Objective: 137.00
Stop-Loss:
Resistance: 137.20/137.86/138.47
Support: 136.47/136.22/135.63
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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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strategies
Reuters Index: TREN01 since 1989
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