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

Tuesday, February 03, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN - 105.57
Although yesterday`s resumption of recent downtrend suggests marginal weakness would be
seen, weakening of downward momentum would prevent steep fall below psychological
support at 105.00 and yield rebound later but above 106.65 is needed to confirm a
temporary low has been formed...


INTRA-DAY USD/CHF OUTLOOK
(Update at 01:53GMT 2004/02/03)

As 1.2630 has capped recovery from 1.2593, retaining our bearishness for overnight fall
from 1.2660 to bring marginal weakness to 1.2575 but below 1.2557 support is needed to
signal retracement of early erratic upmove is under way, yield test of 1.2515..

Trade from short side, stop above there, only break of 1.2665 resistance aborts, brings swift
rise toward 1.2700.


Rate: 1.2599
Strategy / Entry Level: Hold short
Position: Short at 1.2615
Objective: 1.2575
Stop-Loss: 1.2635
Range Forecast: 1.2575 / 1.2615
Resistance: 1.2665/1.2696/1.2726
Support: 1.2557/1.2515/1.2469



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