TODAY`S FOREX MARKET OUTLOOK

Wednesday, October 15, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 108.92
As dollar has fallen again after meeting renewed selling at 110.28, suggesting correction from 108.28 has ended there and medium term downtrend should resume later for marginal weakness towards 107.50/55 before prospect of another strong corrective rebound possibly next week...


INTRA-DAY EUR/USD OUTLOOK

(Update at 02:01GMT 2003/10/15)

Although present breach of 1.1710 suggests moderate retracement of yesterday`s upmove is under way, as long as support 1.1670 holds, another rebound is seen, above 1.1740/45 would encourage for further gain towards 1.1775/80 later today..

Buy again on dips, stop below said support, break would confirm top formed, risk 1.1645/50 first...

Rate: 1.1707
Strategy / Entry Level: Buy again at 1.1695
Position:

Objective: 1.1730 1st
Stop-Loss: 1.1665
Range Forecast: 1.1695 / 1.1725
Resistance: 1.1777/1.1850/1.1862
Support: 1.1670/1.1617/1.1583