FOREX MARKET OUTLOOK FROM ACETRADER - USD/CHF Nov 5, 03

Wednesday, November 05, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 109.75
Although yesterday`s cross inspired decline signals first leg of correction from 107.86 has
ended at 111.50, oversold condition should limit downside and 108.30/35 would remain
intact, yield rebound later, above 110.40/50 would confirm low has been formed, bring re-
test of 111.50 later this week...



INTRA-DAY USD/CHF OUTLOOK

(Update at 23:24GMT 2003/11/04)


Although dollar has rebounded from 1.3576 on cross selling in chf, above 1.3640/45 is
needed to confirm recent upmove has resumed, bring marginal gain to 1.3680, however,
weakening of momentum would limit upside to 1.3705/10, yield retreat..



Trade from long side, stop at 1.3585, break risks one more corrective fall to 1.3550 before rebound...


Rate: 1.3617
Strategy / Entry Level: Hold long
Position: Long at 1.3580
Objective: 1.3640/45
Stop-Loss: 1.3585
Range Forecast: 1.3600 / 1.3640
Resistance: 1.3660/1.3735/1.3796
Support: 1.3576/1.3523/1.3450



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