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Wednesday March 2, 2005 - 07:58:40 GMT
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TODAY'S FOREX MARKET OUTLOOK FROM ACETRADER

TODAY'S FOREX MARKET OUTLOOK FROM ACETRADER
Wed, 02 Mar 2005 07:51:46GMT
Daily report
By AceTrader
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EUR/USD - 1.3165
Update Time : 07:47 GMT

Euro's retreat fm this week's high at 1.3279 strongly suggests recent rise fm 1.2732 has made a temp. top there n consolidation with downside bias is seen, below 1.3145 sup wud confirm this view n yield weakness twd 1.3090 but 1.3060/65 wud hold.

INTRA-DAY EUR/USD OUTLOOK
Last Update At 02 Mar 2005 06:52:00

Although euro has continued to trade abv 1.3147 n further consolidation wud be seen, upside shud be ltd to 1.3189 n erratic fall fm Monday's high 1.32 79 shud resume later for weakness to 1.3130/35 but loss of nr term momentum wud keep price abv 1.3110.

Trade fm short side with stop as indicated, abv defers this bearish scenario n risks 1.3210/15.

Rate: 1.3169
Strategy: Hold short
Position: Short at 1.3170
Objective: 1.3135
Stop-Loss: 1.3195
R: 1.3189/1.3226/1.3279
S: 1.3145/1.3090/1.3049

DAILY EUR/JPY CROSS OUTLOOK
Last Update At 02 Mar 2005 07:24:00

Y'day's breach of 138.02 confirms a stronger re- trace. of recen upmove is under way n fall fm 139. 45 is likely to extend weakness twd sup at 137.12, however, o/sold condition wud prevent decline below there n risk has increased for a rebound later.

Sell recovery, stop as indicated, only a 'firm' break abv 138.55 wud signal correction has ended...

Rate: +137.95+
Strategy: +Hold short+
Position:+Short at 137.95+
Objective: 137.30
Stop-Loss: 138.30
R: 138.55/139.16/139.45
S: 137.48/137.12/136.62

SPOT SILVER DAILY OUTLOOK
Last Update At 02 Mar 2005 00:30:00

Y'day's breach of 7.21 suggests erratic fall fm 7.54 to retrace recent rise is under way n weakness twds 7.12 sup is envisaged but 7.03 wud hold.

Trade fm short side with stop as indicated, only abv 7.38 res wud signal low is made...

Rate: 7.21
Strategy: Short at 7.28
Position: Short at 7.28
Objective: 7.16
Stop-Loss: 7.30
R: 7.38/ 7.49 / 7.54
S: 7.12 / 7.03/ 6.94


YESTERDAY'S RECOMMENDED TRADES

DAILY EUR/USD OUTLOOK - +1.3155+
Update Time : 2005/02/03 01:05GMT

As 1.3226 has capped the recovery fm y'day's
low at 1.3168, consolidation with downside bias is
seen for the decline fm 1.3279 to resume n bring
correction of recent upmove twd 1.3145 but a break
there is needed for further weakness to 1.3105/10.
Hold short, stop abv said res, break defers but
1.3279 shud remain intact n bring consolidation...


Rate: +1.3155+
Strategy: +Target met+
Position: Short at 1.3225
Objective: 1.3155
Stop-Loss:
Resistance: 1.3226/1.3279/1.3303
Support: 1.3145/1.3090/1.3013


DAILY OUTLOOK ON USD/CAD - +1.2430+
Update Time : 2005/01/03 16:19GMT

As usd has risen after meeting renewed buying at
1.2232, suggesting upmove fm 1.2276 to retrace erra
tic fall fm 1.2584 wud extend gain twds 1.2455.
+Hold long+, stop as indicated, below wud signal
recovery is over n risk 1.2295/00...


Rate: +1.2430+
Strategy: +Target met+
Position: +Long at 1.2370+
Objective: 1.2430
Stop-Loss:
Resistance: 1.2455/1.2499/1.2550
Support: 1.2329/1.2276/1.2235


SPOT GOLD DAILY OUTLOOK - +432.00+
Update Time : 2005/01/03 16:16GMT

Gold's retreat fm 437.55 suggests correction of
recent erratic upmove is under way for weakness to
431.40 but 428.20 (prev. res) shud remain intact.
+Hold short+ n exit on such fall, stop 436.50,
abv signals pullback is over, 439.35...


Rate: +432.00+
Strategy: +Target met+
Position: Short at 434.60
Objective: 432.00
Stop-Loss:
Resistance: 437.55/439.35/441.15
Support: 431.40/428.45/425.50


INTRA-DAY EUR/USD OUTLOOK - +1.3185+
Update Time : 2005/01/03 14:06GMT

Euro's retreat after meeting renewed selling at
1.3225 has retained our bearishness for weakness to
indicated obj. but below 1.3168 is needed to signal
another corrective fall fm 1.3279 top is under way
for weakness twds 1.3145.
Trade fm short side, stop now at break-even,
only abv said res risks 1.3240/45 b4 down...


Rate: +1.3185+
Strategy: +Target met+
Position: Short at 1.3220
Objective: 1.3185
Stop-Loss:
Resistance: 1.3237/1.3279/1.330
Support: 1.3168/1.3145/1.3090


INTRA-DAY GBP/USD OUTLOOK - +1.9185+
Update Time : 2005/01/03 14:05GMT

As cable has fallen after meeting renewed sell-
ing at 1.9229, retaining our intra-day bearishness
n consolidation with mild downside bias is seen for
weakness to indicated obj., however, below 1.9171
is needed to bring stronger correction twds 1.9140.
Trade fm short side, stop at break-even, only
abv said res wud risk 1.9245/50 b4 down...


Rate: +1.9185+
Strategy: +Target met+
Position: Short at 1.9225
Objective: 1.9185
Stop-Loss:
Resistance: 1.9230/1.9262/1.9292
Support: 1.9171/1.9158/1.9109


INTRA-DAY AUD/USD OUTLOOK - +0.7840+
Update Time : 2005/01/03 14:00GMT

As aussie has met renewed selling after early re
covery fm 0.7860 to 0.7891, suggesting decline fm
y'day's top at 0.7946 has resumed for weakness to
0.7835/40, however, as outlook is consolidative, 0
7806 chart sup shud remain intact.

+Hold shrot+ with stop as indicated, abv wud
signal intra-day low is made n risk 0.7915/20...


Rate: +0.7840+
Strategy: +Target met+
Position: +Short at 0.7875+
Objective: 0.7840
Stop-Loss:
Resistance: 0.7914/0.7958/0.8005
Support: 0.7806/0.7789/0.7750


INTRA-DAY EUR/CHF CROSS OUTLOOK - +1.5365+
Update Time : 2005/01/03 08:42GMT

Euro's sideways trading abv y'day's low at 1.53
67 is likely to continue but as long as indicated
res at 1.5402 holds, downside bias remains for a re
sumption of recent decline fm 1.5634, bring re-test
of 1.5355 later today n then twds 1.5330/35.

Trade fm short side with stop abv there, break
yields further choppy trading n risks 1.5420/25...


Rate: +1.5365+
Strategy: +Target met+
Position: Short at 1.5400
Objective: 1.5365
Stop-Loss:
Resistance: 1.5402/1.5445/1.5463
Support: 1.5367/1.5355/1.5336


INTRA-DAY EUR/GBP CROSS OUTLOOK - +0.6875+
Update Time : 2005/01/03 02:43GMT

Euro's o/n breach of 0.6887 indicates consolida
tion with downside bias remains n nr term decline
fm 0.6965 is likely to extend weakness to 0.6870/75
, however, 'loss of momentum' shud keep price abv
0.6860 in Asia n yield recovery.

Hold short with stop as indicated, abv y'day's
high at 0.6909 wud signal intra-day low is in place

Rate: +0.6875+
Strategy: +Target met+
Position: Short at 0.6895
Objective: 0.6875
Stop-Loss:
Resistance: 0.6900/0.6919/0.6948
Support: 0.6877/0.6850/0.6827

AceTrader Performance Update
2005 YTD (till Feb 28) (Pips)

Intraday Daily
USD/JPY (145) (242)
EUR/USD 370 66
USD/CHF 251 (49)
GBP/USD 621 (168)

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