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Monday February 7, 2005 - 10:38:22 GMT
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TODAY'S FOREX MARKET OUTLOOK FROM ACETRADER

TODAY'S FOREX MARKET OUTLOOK FROM ACETRADER
Mon, 07 Feb 2005 10:22:38GMT
Daily report
By AceTrader
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EUR/USD - 1.2847
Update Time : 08:45GMT

Euro's firm breach of 1.2922 chart sup last week suggests decline from last year's top at 1.3670 to retrace medium term uptrend remains in progress and would extend weakness toward 1.2750/60, however, oversold condition should limit downside to 1.2700/10 today and risk from there has increased for a recovery later this week.


INTRA-DAY GBP/USD OUTLOOK
Last Update At 07 Feb 2005 09:47:58

As cable has fallen after meeting renewed sell- ing below 1.8730/35, suggesting last wk's erratic decline fm 1.8930 has resumed n weakness to 1.8670 is seen, however, o/sold condition is likely to limit downside to 1.8650/55 n bring rebound later.

+Trade fm short side+, stop as indicated, abv wud risk stronger correction twds 1.8760 b4 down...


Rate: +1.8682+
Strategy:+Hold short+
Position: +Short at 1.8705+
Objective:1.8670
Stop-Loss: +1.8710+
R: 1.8760/1.8790/1.8839
S: 1.8670/1.8626/1.8588


DAILY EUR/JPY CROSS OUTLOOK
Last Update At 07 Feb 2005 08:11:40

Euro's rebound after failing to break indicated sup 133.62 suggests consolidation with mild upside bias is seen, however, as long as 134.92 holds, pro spect of another fall to said sup remains, below wud confirm decline fm 141.60 has resumed, 133.01.

Sell again on recovery, stop 135.00, break wud prolong sideways trading n risk 135.40/45...

Rate: 134.07
Strategy: Sell at 134.50
Position:
Objective: 133.70
Stop-Loss: 135.00
R: 134.92/135.27/135.80
S: 133.65/133.01/132.44


SPOT GOLD DAILY OUTLOOK
Last Update At 07 Feb 2005 01:08:41

As gold has fallen after meeting renewed selling at 417.30 on Friday, suggesting recent decline wud extend weakness to 411/12 b4 correction 'later'.

Sell on recovery with stop abv said res, break wud defer n risk retracement to 419.00/30...

Rate: 414.20
Strategy:Sell at 415.50
Position: ---
Objective: 412.00
Stop-Loss:417.50
R: 417.30/419.30/422.60
S: 410.90/409.70/405.00

YESTERDAY'S RECOMMENDED TRADES

INTRA-DAY USD/CHF OUTLOOK - +1.2115+
Update Time : 2005/04/02 18:26GMT

As dlr has penetrated intra-day high at 1.2078,
suggesting one more rise to 1.2120/25 is likely,
however, nr term o/bought condition has increased
risk of a retreat n reckon 1.2150 wud cap upside.
Venture buying with stop as indicated, below
wud signal intra-day top is possibly in place n
risk pullback twds 1.2015/20...

Rate: +1.2115+
Strategy: +Target met+
Position: +Long at 1.2082+
Objective: +1.2115+
Stop-Loss:
Resistance: 1.2124/1.2150/1.2205
Support: 1.2015/1.1950/1.1912

INTRA-DAY EUR/USD OUTLOOK - +1.2870+
Update Time : 2005/04/02 18:25GMT

Preent breach of 1.2905 confirms recent decline
fm 1.2670 has resumed n marginal weakness to 1.2870
is envisaged, however, o/sold condition shud limit
downside to 1.2850/51 n risk fm there is seen for a
minor recovery next week.
Suggest to sell with stop as indicated n take
profit on subsequent fall...

Rate: +1.2870+
Strategy: +Target met+
Position: +Short at 1.2902+
Objective: 1.2870
Stop-Loss:
Resistance: 1.2967/1.3009/1.3050
Support: 1.2851/1.2776/1.2750


INTRA-DAY GBP/USD OUTLOOK - +1.8800+
Update Time : 2005/04/02 17:57GMT

As cable has fallen after meeting renewed sell-
ing at 1.8865/70, consolidation with downsdie bias
is seen for weakness twd 1.8790 but below is needed
to confirm erratic decline fm 1.8930 has resumed n
yield re-test of 1.8765 sup later.

Hold short with stop as indicated. Only abv 1.88
70 wud defer n risk gain to 1.8900...

Rate: +1.8800+
Strategy: +Target met+
Position: Short at 1.8836
Objective: 1.8800
Stop-Loss:
Resistance: 1.8870/1.8930/1.8973
Support: 1.8790/1.8765/1.8702

EUROPEAN CLOSING EUR/YEN OUTLOOK - +134.10+
Update Time : 2005/04/02 16:51GMT

As euro has remained under pressure after intra-
day selloff, downside bias is seen for a retrace.
of the erratic rise fm 133.01 n further weakness to
134.05/10 is envisaged but nr term o/sold condition
is expected to prevent steep fall below 133.78 sup.

Hold short with stop as indicated, abv wud risk
recovery to 134.70/75 b4 down...

Rate: +134.10+
Strategy: +Target met+
Position: Short at 134.45
Objective: 134.10
Stop-Loss:
Resistance: 134.92/135.27/135.80
Support: 134.08/133.78/133.01

MAR T-BOND FUTURES DAILY OUTLOOK - +115.04+
Update Time : 2005/04/02 14:10GMT

Y'day's rebound fm 114.11 suggests pullback fm
115.04 has ended there n upside bias remains for a
resumption of early rise to said res, then 115.10.

Trade fm long side, stop now at break-even, only
below 114.11 sup wud risk retracement to 114.01...

Rate: +115.04+
Strategy: +Target met+
Position: Long at 114.16
Objective: 115.04
Stop-Loss:
Resistance: 115.04/115.10/116.00
Support: 114.11/113.29/113.18

DAILY EUR/GBP CROSS OUTLOOK - +0.6880+
Update Time : 2005/04/02 13:51GMT

Y'day's anticipated resumption of recent decline fm 0.7108 suggests a strg retrace. of the upmove fm 0.6545 remains in progress n weakness to indicated obj. is seen, however, o/sold condition wud limit downside n reckon sup at 0.6843 wud remain intact.

Trade fm short side, stop at 0.6905, only abv 0.6916 wud signal temp. low is made n risk 0.6948...

Rate: +0.6880+
Strategy: +Target met+
Position: Short at 0.6915
Objective: 0.6880
Stop-Loss:
Resistance: 0.6916/0.6948/0.6981
Support: 0.6873/0.6843/0.6815


AceTrader Performance Update
2005 Jan (Pips)
Intraday Daily
USD/JPY (68) (103)
EUR/USD 423 (62)
USD/CHF 335 (90)
GBP/USD 630 (139)

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