FOREX MARKET OUTLOOK FROM ACETRADER - USD/CHF - Nov 20, 2003

Thursday, November 20, 2003
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 109.01

Yesterday`s strong rise from 107.52 confirms a temporary low has been formed there and
consolidation with upside bias is seen for a strong retracement of recent decline, however,
above 109.75 is needed to retain bullishness for subsequent gain towards 111.40.

Below 108.60 would defer but 108.00 should contain downside, yield another leg of corrective
upmove tomorrow.


INTRA-DAY USD/CHF OUTLOOK

(Update at 02:21GMT 2003/11/20)

Outlook is similar to euro, current retreat from 1.3093 signals recovery from 1.2915 has
possibly ended there and further weakness to indicated objective is envisaged, however,
below 1.2985 is needed to confirm recent downtrend has resumed, 1.2935/40 first.

Trade from short side, stop now at 1.3075, break risks marginal rise to 1.3100/05 before
down.


Rate: 1.3035
Strategy / Entry Level: Hold short
Position: Short at 1.3050
Objective: 1.3000
Stop-Loss: 1.3075
Range Forecast: 1.3020/1.3055
Resistance: 1.3093/1.3173/1.3263
Support: 1.2985/1.2915/1.2856



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