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THE WINDY CITY TRADER
P.O. BOX 1673, Chicago, Illinois
800-443-2360(March 5, 2002) CURRENCIES: If we accept that our dollar has topped out, this would signal a bottom for the Euro Currency, Pound, Swiss Franc, and Canadian Dollar. We will take a buy into dips posture therefore for those markets. Short term, I expect a run to 8900 for the Euro, 6050 Swiss, 145.00 pound and 6360 for the Canadian Dollar. They will all likely move considerably higher than this as the year progresses. The yen has been wallowing between 7400 and 7600, but that is a positive after a swift fall from 8400 to 7400 late last year. There are still problems to be worked out there, but the currency may hold above 7400 if they take the hard measures. In the meantime, a range of 74-76 remains with a higher bias.
William Frejlich
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