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Tuesday February 8, 2005 - 09:48:02 GMT
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TODAY'S FOREX MARKET OUTLOOK FROM ACETRADER

TODAY'S FOREX MARKET OUTLOOK FROM ACETRADER
Tue, 08 Feb 2005 09:38:08GMT
Daily report
By AceTrader
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EUR/USD - 1.2761
Update Time : 08:21 GMT

Y'day's selloff after meeting renewed selling at 1.2865 suggests major fall fm 1.3670 to retrace MT intermediate upmove fm 1.1760 wud extend weakness to 1.2715, however, loss of momentum is likely to prevent sharp decline below 1.2660/65 today.


INTRA-DAY USD/CHF OUTLOOK
Last Update At 08 Feb 2005 09:18:45

Although dlr has eased after failing to pene- trate 1.2263 res n consolidation with mild downside bias is seen, as long as 1.2170 holds, bullishness remains for rebound to 1.2230 but abv said res need ed to signal recent upmove has resumed, 1.2280/85.

Buy again on dips, stop as indicated, only be- low 1.2140 wud abort daily bullishness, 1.2115...

Rate: 1.2212
Strategy: Buy at 1.2190
Position: ---
Objective:1.2230
Stop-Loss: 1.2160
R: 1.2263/1.2309/1.2342
S: 1.2213/1.2150/1.2115

DAILY EUR/JPY CROSS OUTLOOK
Last Update At 08 Feb 2005 08:44:01

Euro's present breach of y'day's high at 134.52 suggests the decline fm 135.80 has formed a low at 133.61 n consolidation with upside bias is seen for gain to indicated obj. but reckon 135.25/30 wud hold due to o/bot condition n yield choppy trading.

Buy on dips with stop as indicated, below 133.61 defers but recent low at 133.01 shud remain intact.

Rate: 134.56
Strategy: Buy at 134.30
Position:
Objective: 135.10
Stop-Loss: 133.80
R: 134.92/135.27/135.80
S: 133.61/133.01/132.44

SPOT GOLD DAILY OUTLOOK
Last Update At 07 08 Feb 2005 00:36:21

Dlr's broad-based rebound shud weigh on gold n recent decline wud extend to 411/12 but o/sold con- dition is expected to keep price abv 409.70 sup.

Trade fm short side with stop at break-even, abv 416.05 wud signal temp. low is made n risk 417.30..

Rate: 413.25
Strategy: Short at 415.50
Position: Short at 415.50
Objective: 412.00
Stop-Loss: 415.50
R: 416.05/417.30/419.30
S: 410.90/409.70/405.00


YESTERDAY'S RECOMMENDED TRADES

INTRA-DAY AUD/USD OUTLOOK - +0.7670+
Update Time : 2005/07/02 23:17GMT

Aussie's o/n weakness on dlr's broad-based
strength suggests erratic fall fm 0.7803 to retrace
upmove fm 0.7505 has resumed n re-test of 0.7664
sup is envisaged, below wud extend marginally but
o/sold condition wud keep price abv 0.7628 in Asia.
Hold short with stop as indicated. Only abv 0.77
38 wud signal temp. low is made n risk 0.7760...


Rate: +0.7670+
Strategy: +Target met+
Position: Short at 0.7700
Objective: 0.7670
Stop-Loss:
Resistance: 0.7738/0.7760/0.7790
Support: 0.7664/0.7628/0.7570


SPOT SILVER DAILY OUTLOOK - +6.55+
Update Time : 2005/07/02 17:37GMT

As 6.69 has capped early recovery fm 6.59, sug-
gesting the erratic decline fm 6.86 wud resume for
re-test of said sup n then one more fall to 6.55.
Suggest to sell at 6.65 with stop as indicated,
abv wud risk 6.75/76 but 6.79 shud remain intact...


Rate: +6.55+
Strategy: +Target met+
Position: +Short at 6.65+
Objective: 6.55
Stop-Loss:
Resistance: 6.68 / 6.79 / 6.86
Support: 6.59 / 6.54 / 6.47


EUROPEAN CLOSING EUR/YEN OUTLOOK - +133.75++
Update Time : 2005/07/02 16:46GMT

Euro's present retreat after meeting renewed
selling below 134.52 has retained our bearishness
n weakness to 133.65/75 is seen, however, break is
needed to signal decline fm 135.80 has resumed n
bring subsequent fall twd 133.30/35.
Trade fm short side, stop 134.40, abv wud risk
gain to 134.65/70...


Rate: +133.75++
Strategy: +Target met+
Position: Short at 134.15
Objective: 133.75
Stop-Loss:
Resistance: 134.52/134.92/135.27
Support: 133.65/133.50/133.01


INTRA-DAY EUR/CHF CROSS OUTLOOK - +1.5610+
Update Time : 2005/07/02 14:54GMT

As euro has rebounded after holding abv 1.5568
sup, suggesting pullback fm 1.5616 has possibly end
ed there n upside bias is seen for a resumption of
recent upmove to indicated obj. but loss of momen-
tum wud cap price at 1.5630 n yield retreat.
+Hold long+, stop below said sup, break defers
n risks retrace. twds 1.5535/40...


Rate: +1.5610+
Strategy: +Target met+
Position: Long at 1.5580
Objective: 1.5610
Stop-Loss:
Resistance: 1.5616/1.5637/1.5673
Support: 1.5568/1.5537/1.5509


DAILY OUTLOOK ON USD/CAD - +1.2550+
Update Time : 2005/07/02 09:45GMT

As usd has remained bid after Friday's rally, sug
gesting one more rise to 1.2550/60 wud be seen b4
correction later due to 'loss of momentum'.
+Hold long+, stop below 1.2460 (prev. res), break
signals top is made n risks retrace. to 1.2420/30..


Rate: +1.2550+
Strategy: +Target met+
Position: +Long at 1.2490+
Objective: 1.2550
Stop-Loss:
Resistance: 1.2549/1.2600/1.2636
Support: 1.2460/1.2412/1.2370



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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