TODAY`S FOREX MARKET OUTLOOK FROM ACETRADER - USD/CHF

Thursday, January 29, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 106.08
Despite yesterday`s brief rebound to 106.65, lack of upside follow through buying and
subsequent retreat suggest further consolidation is seen today but steep fall below recent
support 105.45 is not envisaged and psychological support at 105.00 should remain intact,
yield a much-needed corrective rebound later. Above said resistance would signal
retracement of recent decline has commenced toward 107.25/30...


INTRA-DAY USD/CHF OUTLOOK
(Update at 02:08GMT 2004/01/29)

Similar to euro, as dollar has rebounded after holding above intra-day support at 1.2510/15,
consolidation with upside bias is retained and above 1.2590 would signal yesterday`s upmove
has resumed, bring re-test of 1.2605 and later 1.2630 before strong retreat occurs later.

Venture long for this move, stop below said support but below 1.2490 needed to confirm top
is in place.


Rate: 1.2547
Strategy / Entry Level: Venture long
Position:

Objective: 1.2590 1st
Stop-Loss: 1.2505
Range Forecast: 1.2530 / 1.2565
Resistance: 1.2605/1.2641/1.2700
Support: 1.2570/1.2515/1.2377


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