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

Tuesday, February 24, 2004
Daily report
Trendsetter Financial Markets Ltd.
http://www.acetrader.com



USD/YEN- 108.45

Yesterday`s retreat after marginal rise to 109.40 suggests a day of consolidation is in store
before prospect of another strong rebound but above said resistance is needed to signal
recent reversal from 105.16 low has resumed and bring further subsequent gain towards
109.95/00...



INTRA-DAY USD/CHF OUTLOOK
(Update at 23:32 GMT 2004/02/23)

Failure to extend overnight rebound and subsequent retreat from 1.2608 suggest caution on
our bullishness and support at 1.2534 must hold for prospect of another bounce to indicated
objective but above 1.2645 is needed to confirm recent upmove has resumed.

Hold long, stop below said support, break risks one more corrective fall to 1.2500.


Rate: 1.2555
Strategy / Entry Level: Hold long
Position: Long at 1.2570
Objective: 1.2615
Stop-Loss: 1.2532
Range Forecast: 1.2570 / 1.2605
Resistance: 1.2619/1.2672/1.2726
Support: 1.2534/1.2486/1.2420



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