21 November 2001, 16:58  Technical analysis from Commerzbank AG

Karen Jones

EUR/USD
POSITION: Short .8820, s/r .8865 Target .8740/20
ACTION: Leave the stop/reverse over .8865. Reverse shorts on dips to .8740— stop/reverse below .8720. Failure here would trigger losses to .8555 where would again reverse shorts— tight stop/ reverse for .8405/00.
Support .8770*, .8740* .8735** SL, .8720** .8675**
Resistance: .8845, .8865**, .8920*, .9015*, .9045, .9050**RL,

USD/CHF
POSITION: Short 1.6490, s/r 1.6565 Target 1.6445/20
ACTION: Place the stop/reverse over 1.6565 and reverse on dips to 1.6445/20- stop/reverse below 1.6415 for 1.6310 where would cover enroute to 1.6215. If seen, reverse shorts on initial test of here- tight stop/reverse.
Support 1.6445, 1.6420**, 1.6365, 1.6310* SL, 1.6215**, 1.6150/30**, 1.6090,
Resistance 1.6565, 1.6615, 1.6655/95*, 1.6770*, 1.6835/50**,

GBP/USD
POSITION: Long 1.4175, s/r 1.4150 Target 1.4215/25
ACTION: Place the stop/reverse below 1.4150 and reverse on rallies to 1.4215/25- tight stop/reverse as a break sees 1.4290 then 1.4350/65 where would reverse all longs- stop/reverse over 1.4415.
Support 1.4150, 1.4085*, 1.4020*, 1.3955**,1.3925**,
Resistance 1.4225**, 1.4290*, 1.4355/65**, 1.4400*, 1.4455, 1.4485/1.4515**

USD/JPY
POSITION: Long 122.70, s/r 122.50 Target 123.55
ACTION: Place the stop/reverse below 122.50 and cover on rallies to 123.55. Reinstate on a break for 123.90 then 125.30 where would take profits enroute to 126.85.
Support 122.70/50*, 1 2 2 . 0 5 / 1 2 1 . 9 0 * , 121.60/40**, 121.15*,
Resistance 123.55** 123.80/90** 124.30/45**,

EUR/JPY
POSITION: Long 108.50, s/r 108.00 Target 109.30/45
ACTION: Leave the stop/reverse below 108.00. Add above 108.85 looking for 109.30/45 where would take profits enroute to 110.70/90. Again take profits ahead of a rally to 111.75.
Support: 108.00*, 107.00/106.80**, 106.05/00*,
Resistance: 108.85*, 109.30/45, 109.85*, 110.70/90**, 111.75**

EUR/GBP
POSITION: Short .6230, s/r .6240 Target .6185/65
ACTION: Leave the stop/reverse over .6240. Reverse shorts on dips to .6200/.6185— stop/reverse below here for .6150/55, where would again reverse shorts— tight stop/reverse as a break sees .6100/.6080.
Support .6200/05 .6185*, .6150**, .6105/00**
Resistance .6240 .6285/95** .6330**DT

EUR/CHF
POSITION: Short 1.4590, stop 1.4600 Target 1.4505
ACTION: Leave the stop to over 1.4600. Cover dips on initial test of 1.4505/00, reinstate on a break for 1.4400 where would reverse shorts— stop/reverse below 1.4390.
Support 1.4505** 1.4430 1.4400**,
Resistance 1 . 4 5 8 5 / 1 . 4 6 0 0 * , 1.4635/40**, 1.4690, 1.4730/35**, 1.4760*

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