TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2353
Update Time : 08:15GMT
As euro has rebounded after finding support at 1.2283, suggesting price would remain inside recent established broad range and reckon resistance at 1.2390 would hold and yield retreat, however, below said support is needed to signal a retracement of upmove from 1.1968 is under way but 1.2175 would remain intact.
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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 EUR/USD OUTLOOK - +1.2355+
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Update Time : 2004/08/19 08:43GMT
Although euro has penetrated minor res at 1.2351 n further gain to 1.2370/75 is likely, outlook is 'consolidative' n reckon upside wud be capped below res at 1.2390, yield a retreat to indicated obj. later today.
Venture selling with stop as indicated n take profit on decline as 1.2305/10...
Rate: +1.2355+
Strategy: Turn short at+1.2365+
Position:
Objective: +1.2330+
Stop-Loss: 1.2395
Resistance: 1.2366/1.2390/1.2462
Support: 1.2283/1.2263/1.2205
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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 - 0.7168
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Update Time : 2004/08/19 07:49GMT
A$'s rebound after holding abv 0.7130 suggests pullback fm 0.7197 has 'possibly' ended there n upside bias is seen for a resumption of recent upmove fm 0.6932 after minor consolidation n yield gain to 0.7215/20 but reckon 0.7245 wud hold fm here.
Hold long, stop below 0.7130, break risks 0.7095/00 but sup at
0.7058 wud hold n yield rebound...
Rate: 0.7168
Strategy: Hold long
Position: Long at 0.7150
Objective: 0.7215
Stop-Loss: 0.7125
Resistance: 0.7197/0.7226/0.7245
Support: 0.7130/0.7096/0.7058
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Futures & Bullions
Daily/weekly recommendations, medium term outlook
Spot Gold, Spot Silver, UT T-Bond Future, EURODLR Future
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SPOT GOLD DAILY OUTLOOK - 404.30
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Update Time : 2004/08/19 00:32GMT
As gold has risen after finding renewed buying at 401.70, bullishness remains for recent upmove to extend gain twd 408.70 chart res b4 correction.
Hold long, stop below said sup, break wud risk retrace. to 399.00 b4 prospect of a strg rebound...
Rate: 404.30
Strategy: Long at 403.00
Position: Long at 403.00
Objective: 408.00
Stop-Loss: 401.50
Resistance: 405.10/407.80/408.70
Support: 401.70/400.60/399.10
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YESTERDAY'S RECOMMENDED TRADES
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INTRA-DAY EUR/USD OUTLOOK - +1.2340+
Update Time : 2004/08/18 19:11GMT
Euro's present rebound fm 1.2283 suggests intra-day low has possibly been formed there n consolidation with upside bias twds 1.2366 res is seen, but abv is needed to signal recent upmove has resumed n yield 1.2390 1st.
Trade fm long side with stop as indicated, below wud risk stronger correction to 1.2255/60...
Rate: +1.2340+
Strategy: +Target met+
Position: Long at 1.2305
Objective: 1.2340
Stop-Loss:
Resistance: 1.2366/1.2390/1.2462
Support: 1.2284/1.2263/1.2205
INTRA-DAY USD/YEN OUTLOOK - +109.40+
Update Time : 2004/08/18 17:01GMT
As dlr has eased after holding below indicated res at 109.90/95 holds, mild downside bias remains for marginal weakness to 109.30/35, however, loss downward momentum wud keep price abv 109.10/15 n bring rebound later today.
Hold short for 109.40, then turn long at 109.35 for 109.70. Abv said res signals low seen, 110.18..
Rate: +109.40+
Strategy: +1.Target met+ n 2. buy at 109.35
Position: 1.Short @ 109.70
Objective: 1) 109.40 n 2) 109.70
Stop-Loss: 25 points
Resistance: 110.18/110.61/111.01
Support: 109.27/108.62/108.10
INTRA-DAY USD/YEN OUTLOOK - +109.80+
Update Time : 2004/08/18 06:20GMT
Despite dlr's early recovery fm 109.81, as long as 110.25/30 holds, intra-day downside bias remains for erratic decline fm 112.49 to resume n extend weakness to 109.80 n possibly 109.60 b4 prospect of a strg rebound due to loss of momentum.
Hold short for st trade, stop at 110.35, abv wud signal low is made n yield rebound to 110.61...
Rate: +109.80+
Strategy: +Target met+
Position: Short at 110.10
Objective: 109.80
Stop-Loss:
Resistance: 110.61/111.01/111.25
Support: 109.81/109.27/109.11
EUROPEAN CLOSING USD/CHF OUTLOOK - +1.2460+
Update Time : 2004/08/18 16:29GMT
As dlr has maintained a firm undertone, suggesting caution on our bearishness n 1.2525/30 must hold for prospect of retreat to retrace y'day's upmove fm 1.2377 later today, below 1.2465 wud signal intra-day top is made n yield 1.2440/45.
Hold short with stop as indicated, abv wud risk stronger correction of recent decline to 1.2550/55.
Rate: +1.2460+
Strategy: +Target met+
Position: Short at 1.2500
Objective: 1.2460
Stop-Loss:
Resistance: 1.2514/1.2547/1.2630
Support: 1.2405/1.2377/1.2315
INTRA-DAY EUR/GBP CROSS OUTLOOK - +0.6770+
Update Time : 2004/08/18 19:15GMT
Although euro has continued to trade narrowly below 0.6760 res, as long as 0.6740 holds, recent rise to retrace intermediate decline fm 0.7088 wud resume for further gain to 0.6770/75 but loss of momentum wud cap price below 0.6790/95.
Hold long, stop as indicated, break wud signal temp. top has been formed n risk 0.6720/25...
Rate: +0.6770+
Strategy: +Target met+
Position: Long at 0.6745
Objective: 0.6770
Stop-Loss:
Resistance: 0.6768/0.6797/0.6815
Support: 0.6733/0.6685/0.6652
INTRA-DAY EUR/YEN CROSS OUTLOOK - +135.40+
Update Time : 2004/08/18 07:23GMT
Despite early rebound fm 135.48, as long as indicated res at 136.00 holds, intra-day downside bias remains for nr term decline fm 137.07 to resume n bring one more fall twd 135.30/35 b4 prospect of a rebound
later today.
Hold short for st trade, stop abv there, break wud risk 136.20/25 but
136.55 shud hold...
Rate: +135.40+
Strategy: +Target met+
Position: Short at 135.80
Objective: 135.40
Stop-Loss:
Resistance: 136.00/136.66/137.07
Support: 135.48/135.14/135.00
GBP/YEN DAILY CROSS OUTLOOK - +200.20+
Update Time : 2004/08/18 12:57GMT
Although stg's decline fm 204.79 to retrace upmove fm 194.55
remains in progress, loss of momentum wud keep price abv 199.65/70 n yield rebound.
Hold short at 201.20, stop 200.65 for 200.20 n then buy at 200.20 for 201.20, stop 199.55...
Rate: +200.20+
Strategy: +1)Target met+ n 2) Buy at 200.20
Position: +1) Short at 201.20+
Objective: 1) 200.20 n 2) 201.20
Stop-Loss: 65 points
Resistance: 201.83/202.67/203.59
Support: 200.47/199.67/198.46
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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
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