| [ USD/CAD TRADING PAGE ]
| [SPOT] |[TECHNICAL SIGNIFICANCE] |[RECOMMENDATION] | [POSITION]
: 1.2090(M) |failure high Nov 18 |sell a failure | [SHORT at]
: 1.2040(M) |spike high Nov 19 |sell a failure | [1.1846]
: 1.1975(M) |hourly resistance Nov 22 |expect stalling |
: 1.1925(M) |hourly high Nov 22 |buy stops above |Open|22/11/04
: | TIME 10 02|
: 1.1815(M) |mthly low Jul 92 |cover on a bounce | |
: 1.1725(M) |2% MA band base |cover on a bounce |TGT |1.1615
: 1.1615(M) |montly hi Oct 1991 |take profit, sell break |Stop|1.1945
: 1.1190(M) |mthly low Nov 91 |cover on a bounce |
============|==========================|=========================|============= Shorts established overnight on the sustained break of 1.1875 for a test of
the historic low at 1.1615. Our stop is above hourly high/lows at 1.1925-35.
Daily studies bounced during the recent consolidation above 1.1900 and now
have rooom for the downtrend to resume. Oversold intraday studies are in the
process on unwinding, suggesting short-term consolidation. (ams) [21:59 GMT]
end