FOREX MARKET OUTLOOK FROM ACETRADER - USD/CHF Nov 11, 03
Tuesday, November 11, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 108.82
As dollar has rebounded strongly from 107.86, suggesting further gyrations within recent
broad range would be seen, however, above resistance at 109.64 is needed to signal price action from 107.86 is possibly developing into a triangle and extend eventual gain towards 110.40.


INTRA-DAY USD/CHF OUTLOOK

(Update at 01:34GMT 2003/11/11)

Dollar`s retreat from 1.3745/50 suggests an intra-day top has possibly been formed and consolidation with downside bias is envisaged, bring further weakness to indicated objective but below 1.3649 is needed to signal another leg of decline from 1.3805 is under way..

Hold short with stop above there and take some profit on subsequent fall...

Rate: 1.3720
Strategy / Entry Level: Hold short
Position: Short at 1.3735
Objective: 1.3690 1st
Stop-Loss: 1.3760
Range Forecast: 1.3695 / 1.3730
Resistance: 1.3785/1.3805/1.3867
Support: 1.3649/1.3608/1.3576


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