FOREX MARKET OUTLOOK FROM ACETRADER - USD/CHF Nov 10, 03

Monday, November 10, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com

USD/YEN - 109.55
Last Friday`s selloff indicates downside bias remains for a retracement of the entire rise from
107.86, however, reckon support at 108.62 would hold from here, yield rebound but above
110.40 is needed to signal decline from 111.50 has ended.


INTRA-DAY USD/CHF OUTLOOK
(Update at 02:25GMT 2003/11/10) As 1.3682 has capped early recovery, present retreat
suggests downside bias remains for a resumption of the decline from Friday`s high at 1.3805
and below intra-day support at 1.3608 would bring stronger retracement of upmove towards
1.3576.. Hold short with stop above said resistance and take profit on subsequent
weakness...

Rate: 1.3644
Strategy / Entry Level:Hold short
Position: Short at 1.3660
Objective: 1.3610
Stop-Loss: 1.3690
Range Forecast:1.3630/1.3665
Resistance:1.3682/1.3718/1.3785
Support:1.3608/1.3576/1.3536


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