Tuesday March 8, 2005 - 08:48:14 GMT
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TODAY'S FOREX MARKET OUTLOOK FROM ACETRADER
EUR/USD - 1.3241
Update Time : 08:09 GMT
Although euro has staged a rebound fm y'day's low at 1.3178, a breach of Friday's high of 1.3255 is needed to confirm recent upmove has finally resumed for re-test of prev. res at 1.3279, then 1.3307/12, otherwise, risk of another strg retreat may occur.
INTRA-DAY USD/CHF OUTLOOK
Last Update At 08 Mar 2005 08:04:00
As dlr has remained under pressure after retreat ing fm y'day's high at 1.1780, intra-day mild down- side bias is seen for weakness twd 1.1708 (previous res) but below is needed to signal the recovery fm 1.1666 has ended n bring re-test of this sup later.
Hold short with stop as indicated, abv 1.1780 wud risk marginal gain twds 1.1795/00 b4 down...
Strategy: +Hold Short+
Position: Short at 1.1752
DAILY AUD/USD OUTLOOK
Last Update At 08 Mar 2005 08:20:00
Y'day's rebound after finding renewed buying at 0.7886 suggests a re-test of last month's high at 0.7958 wud be seen after consolidation, however, a daily close abv there is needed to confirm MT rise has resumed n extend gain to 0.8005 ('04 top).
Hold long with stop below said sup, break wud 'prolong' recent choppy trading n risk 0.7850/55...
Strategy: Hold long
Position: Long at 0.7900
SPOT GOLD DAILY OUTLOOK
Last Update 08 Mar 2005 00:30:00
As gold has rebounded after finding renewed buy- ing at 432.70, retaining upside bias for recent up- move fm 411.20 to resume n yield re-test of 437.55.
Trade fm long side, stop below 432.70, break wud prolong consolidation fm 437.55 n risk 429.25/40...
Strategy: Long at 433.00
Position: Long at 433.00
YESTERDAY'S RECOMMENDED TRADES
PRE-ASIAN OPENING AUD/USD OUTLOOK - +0.7930+
Update Time : 2005/07/03 22:17GMT
Aussie's o/n rebound strongly suggests pullback
fm Friday's high at 0.7934 has ended at 0.7886 n up
side bias is seen for a resumption of recent upmove
, bring re-test of said lvl, abv wud encourage for
further gain twds 0.7958 res.
Trade fm long side with stop as indicated. Only
below 0.7886 wud risk retracement twd 0.7852 sup...
Strategy: +Target met+
Position: Long at 0.7900
AceTrader Performance Update
2005 YTD (till Feb 28) (Pips)
USD/JPY (145) (242)
EUR/USD 370 66
USD/CHF 251 (49)
GBP/USD 621 (168)
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