22 November 2001, 15:23  Technical Analysis from Commerzbank AG

Karen Jones

EUR/USD
POSITION: Short .8820, profit stop .8800 Target .8740/20
ACTION: Lower the profit stop to over .8800. 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 .8750, .8740* .8735** SL, .8720** .8675**
Resistance: .8800, .8845, .8865**, .8920*, .9015*, .9045, .9045**RL,

USD/CHF
POSITION: Long 1.6565, s/r 1.6515 Target 1.6650/65
ACTION: Place the stop/reverse below 1.6515 and add above 1.6600 looking for 1.6650/95 to cover. Reinstate on a break for 1.6770 then 1.6840/50 where would reverse longs— tight stop/reverse.
Support 1.6515, 1.6445, 1.6420**, 1.6365, 1.6310* SL, 1.6215**, 1.6150/30**,
Resistance 1.6600, 1.6655/95*, 1.6770*, 1.6835/50**,

GBP/USD
POSITION: Longs covered, square
ACTION: Sell rallies to 1.4200/25— tight stop/reverse. Add below 1.4120 looking for 1.4085 where would cover enroute to 1.3955/25 where would reverse on the initial test— tight stop/reverse for 1.3675.
Support 1.4120, 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: Leave 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*, 122.05/121.90* , 121.60/40**, 121.15*,
Resistance 123.55** 123.80/90** 124.30/45**,

EUR/JPY
POSITION: Short 108.00, s/r 108.30 Target 107.00
ACTION: Place the stop/reverse over 108.30 looking to reverse on dips to 107.00/106.80— tight stop/ reverse for 105.75/45 where would again reverse— tight stop/reverse.
Support: 107.00/106.80**, 106.05/00*, 105.65/45**,
Resistance: 108.30, 108.85*, 109.30/45, 109.85*, 110.70/90**, 111.75**

EUR/GBP
POSITION: Long .6200/.6185, s/r .6185 Target .6240
ACTION: Leave the stop/reverse below .6185 looking to cover on rallies to .6240. Above .6240 reinstate longs looking for .6330/35 to reverse— stop/reverse over .6365
Support .6185*, .6170, .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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