Thursday February 24, 2005 - 00:41:35 GMT
Share This Story
AceTrader - www.acetrader.com
USD/JPY Daily Outlook
USD/JPY - 104.96
Update Time : 23:47 GMT
Although y'day's strg rebound to 105.12 confirms dlr's decline fm 106.86 has made a low earlier at 103.82 n consolidation is in store this week, near term loss of momentum shud limit present gain to 105.30/35 n bring subsequent strg retreat.
INTRA-DAY USD/CHF OUTLOOK
Last Update At : 23 Feb 2005 23:21:00
As long as o/n high at 1.1672 holds, intra-day downside bias remains for a resumption of recent decline to take place, however, below 1.1600/05 is needed to confirm this view n bring subsequent re- test of this week's low at 1.1567.
Trade fm short side, stop abv said res, abv wud risk stronger recovery to 1.1700/05 b4 retreat...
Strategy / Entry Level: Hold short
Position: Short at 1.1645
Range Forecast: 1.1620 / 1.1650
Yesterday's Recommended Trades
INTRA-DAY GBP/USD OUTLOOK - +1.9110+
Update Time: 2005/02/23 19:19GMT
Cable's rebound after holding well abv 1.9033
sup suggests the choppy consolidation fm 1.9138 is
likely to continue n intra-day upside bias is seen
for a rebound to indicated obj. but abv 1.9135 is
needed to confirm upmove has resumed, 1.9150/55.
Trade fm long side, stop as indicated. Only be-
low 1.9033 sup wud abort n risk retrace. to 1.9000.
Position:Long at 1.9070
INTRA-DAY GBP/USD OUTLOOK - +1.9110+
Update Time: 2005/02/23 13:58GMT
Although cable's retreat after intra-day bounce
to 1.9120 suggests further choppy trading inside
1.9033-1.9138 range wud be seen, as long as 1.9042
holds, upside bias remains but abv 1.9123 is needed
to confirm recent upmove has resumed, 1.9150.
+Trade fm long side with stop as indicated, only
below 1.9042 risks 1.9033, then twd 1.9000...+
Position:+Long at 1.9070+
INTRA-DAY AUD/USD OUTLOOK - +0.7895+
Update Time: 2005/02/23 08:40GMT
Although aussie has edged higher after failing
to breach 0.7900 n minor consolidation is seen, as
long as Asian high at 0.7950 holds, bearishness re-
mains for corrective decline fm 0.7958 to extend
weakness twds 0.7890/95 but 0.7861 sup wud hold.
Trade fm short side, stop 0.7950, abv wud sig-
nal pullback is over n bring gain twds 0.7985/90...
Position:Short at 0.7925
INTRA-DAY GBP/USD OUTLOOK - +1.9055+
Update Time: 2005/02/23 07:49GMT
Current retreat has retained our intra-day bear
ishness for weakness to indicated obj., however, as
sterling is expected to trade inside 1.9033-1.9138
range, said lower lvl shud limit downside n bring a
strg rebound later today.
Hold short for st trade, stop at break-even n
exit on such dips. Only abv 1.9100 risks 1.9123...
Position:Short at 1.9090
INTRA-DAY USD/CHF OUTLOOK - +1.1640+
Update Time: 2005/02/23 07:39GMT
Dlr's early rebound fm 1.1567 (Australia) n sub
sequent rebound to 1.1619 suggests recent decline
has formed a temp. low n consolidation with upside
bias is seen for a minor correction to 1.1640 but
reckon 1.1665/70 wud cap recovery n yield retreat.
For st trade, hold long n exit such move. Only
below 1.1567 wud risk one more fall to 1.1535/40...
Position:Long at 1.1600
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."