FOREX MARKET OUTLOOK FROM ACETRADER
Thursday, January 15, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 106.35

Despite yesterday`s decline to 105.95, as dollar has rebounded after holding above support
at 105.90, suggesting further consolidation would be seen with mild upside bias but above
106.75 is needed to confirm decline from last Friday`s high at 108.30 has ended but reckon
107.40 would hold from here...


INTRA-DAY GBP/USD OUTLOOK
(Update at 02:34GMT 2004/01/15)

Present rebound from 1.8295 suggests an intra-day low has possibly been formed there and
consolidation with upside bias is seen but above 1.8375/80 is needed to confirm and bring
strong retrace. of yesterday`s selloff but resistance at 1.8420 should hold from here..

Buy dips, stop below said support, break risks marginal weakness to 1.8280 before
rebound...


Rate: 1.8341
Strategy / Entry Level: Buy at 1.8325
Position:

Objective: 1.8360
Stop-Loss: 1.8293
Range Forecast: 1.8320 / 1.8350
Resistance: 1.8372/1.8420/1.8488
Support: 1.8280/1.8243/1.8180



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