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


Friday, January 30, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 106.08
Recent choppy price action from 105.45 low is expected to continue and although mild upside
bias is seen, above 106.65 resistance is needed to signal correction of recent decline is under
way, bring further gain to 107.00 but resistance at 107.92 should remain intact. Loss of
105.45 support would risk marginal weakness towards psychological support at 105.00
before rebound...


INTRA-DAY USD/CHF OUTLOOK
(Update at 02:12GMT 2004/01/30)

Although dollar has edged lowered after yesterday`s rise to 1.2640, as long as 1.2555/60
holds, recent erratic rise from 1.2377 should resume for re-test of said resistance, above
would extend marginal gain but loss of momentum would cap dollar at 1.2670 and yield
retreat..

Hold long for short term trade, stop there, break risks 1.2527 but below needed to confirm
top is made...


Rate: 1.2593
Strategy / Entry Level: Hold long for st trade
Position: Long at 1.2596
Objective: 1.2640
Stop-Loss: 1.2555
Range Forecast: 1.2570 / 1.2605
Resistance: 1.2640/1.2680/1.2726
Support: 1.2527/1.2482/1.2411



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