TODAY'S FOREX MARKET OUTLOOK
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EUR/USD - 1.2371
Update Time : 08:15GMT
Euro's early rebound from 1.2283 suggests upside bias is seen for recent upmove from 1.1968 to resume, however, 'loss of momentum' would prevent further strong rise and reckon chart resistance at 1.2462 would remain intact and yield correction.
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Intraday/daily/weekly recommendations, medium term outlook, daily technical outlook, wave analysis
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INTRA-DAY GBP/USD OUTLOOK - +1.8310+
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Update Time : 2004/08/20 07:37GMT
Although cable has moved sideways, as long as 1.8295 holds, bullishness remains for y'day's strg rebound fm 1.8197 to bring re-test of 1.8346 res, abv wud extend gain to 1.8370/75 but reckon 1.8400 wud cap upside n yield retreat later.
Buy pullback with stop below there, break wud risk stronger retrace. but 1.8250/56 sup wud hold..
Rate: +1.8310+
Strategy: +Hold long+
Position: +Long at 1.8310+
Objective: 1.8345
Stop-Loss: 1.8285
Resistance: 1.8346/1.8438/1.8468
Support: 1.8295/1.8250/1.8197
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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 EUR/YEN CROSS OUTLOOK - 135.02
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Update Time : 2004/08/20 07:59GMT
Despite euro's recovery fm 134.70, upside wud be ltd to 135.65/70 n yield resumption of this wk's decline fm 137.07 to retrace upmove fm 132.86 for weakness twds 134.42 sup, however, loss of momentum wud keep price abv 134.00 n bring rebound 'later'.
Hold short, stop at break-even n exit on decline, then turn long for 135.40 but 136.00 wud hold
Rate: 135.02
Strategy: 1.Hold short n 2.Buy at 134.50
Position: 1.Short @ 135.50
Objective: 1) 134.50 n 2) 135.40
Stop-Loss: 1) 135.50 n 2) 133.95
Resistance: 135.50/136.00/136.66
Support: 134.70/134.42/133.72
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Daily/weekly recommendations, medium term outlook
Spot Gold, Spot Silver, UT T-Bond Future, EURODLR Future
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SPOT GOLD DAILY OUTLOOK - 406.50
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Update Time : 2004/08/20 00:43GMT
As long as 405.10 holds, outlook remains supportive for recent upmove to bring test of 408.70 res, abv wud extend gain twds 411.00 next week.
Hold long, stop below said sup, break wud risk retrace. to 401/402 b4 prospect of another rise...
Rate: 406.50
Strategy: Long at 403.00
Position: Long at 403.00
Objective: 408.00
Stop-Loss: 405.00
Resistance: 407.75/408.70/410.00
Support: 404.50/401.70/400.60
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YESTERDAY'S RECOMMENDED TRADES
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INTRA-DAY USD/YEN OUTLOOK - +109.15+
Update Time : 2004/08/19 17:28GMT
As has remained under pressure, suggesting down side bias remains for nr term decline fm 112.10 to extend marginal weakness to 109.10/15 but reckon 108.80/85 wud hold due to loss of momentum n bring rebound later.
Hold short, stop as indicated, break wud risk stronger recovery but 110.18 shud remain intact...
Rate: +109.15+
Strategy: +Target met+
Position: Short at 109.50
Objective: 109.15
Stop-Loss:
Resistance: 109.63/110.18/110.61
Support: 109.00/108.62/108.10
INTRA-DAY AUD/USD OUTLOOK - +0.7180+
Update Time : 2004/08/19 09:16GMT
As aussie has penetrated 0.7168 res, suggesting consolidation with upside bias is seen for rebound to 0.7180/85, however, price needs to break abv 0.7197 to signal recent upmove fm 0.6932 has resumed for further gain to 0.7215/20.
Hold long, stop as indicated but below 0.7130 is needed to risk stronger retrace. to 0.7105/10.
Rate: +0.7180+
Strategy: +Target met+
Position: Long at 0.7150
Objective: 0.7180 1st
Stop-Loss:
Resistance: 0.7197/0.7226/0.7245
Support: 0.7130/0.7103/0.7058
DAILY AUD/USD OUTLOOK - +0.7215+
Update Time : 2004/08/19 10:21GMT
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: +0.7215+
Strategy: +Target met+
Position: Long at 0.7150
Objective: 0.7215
Stop-Loss:
Resistance: 0.7269/0.7320/0.7348
Support: 0.7168/0.7130/0.7096
DAILY NZD/USD OUTLOOK - +0.6700+
Update Time : 2004/08/19 14:31GMT
DAILY NZD/USD OUTLOOK - +0.6700+
As kiwi has risen after early retreat to 0.6626, suggesting recent upmove wud extend gain to 0.6705/10 b4 prospect of retreat due to loss of momentum.
Hold long, stop now at break-even but below 0.6618 is needed to signal temp. top seen, 0.6595...
Rate: +0.6700+
Strategy: +Target met+
Position: Long at 0.6645
Objective: 0.6700
Stop-Loss:
Resistance: 0.6706/0.6760/0.6797
Support: 0.6620/0.6595/0.6562
INTRA-DAY EUR/GBP CROSS OUTLOOK - +0.6750+
Update Time : 2004/08/19 14:14GMT
As euro has retreated fm 0.6783, suggesting consolidation with downside bias is seen for a correction of recent upmove to 0.6742 sup, however, below is needed to abort daily bullishness n risk stronger retrace. to 0.6720/25.
Exit long, n sell on recovery, stop as indicated, break wud extend one more rise to 0.6795/00.
Rate: +0.6750+
Strategy: +Target met+
Position: Short at 0.6770
Objective: 0.6750
Stop-Loss:
Resistance: 0.6797/0.6815/0.6823
Support: 0.6742/0.6710/0.6685
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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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