Gai Waterhouse likes Fiorente's prospects in the Cox Plate but the Sydney trainer thinks the import is an even better chance of winning the Melbourne Cup.

Fiorente is the third favourite for the Cox Plate at Moonee Valley on Saturday and Waterhouse will be disappointed if he doesn't figure in the placings.

But the trainer said the import was bought in Europe last year to win the $6.2 million Melbourne Cup.

A year ago Fiorente thrived at Werribee after arriving in Australia and ran second in the Melbourne Cup to Green Moon at his first Australian start.

Asked on Wednesday if she felt Fiorente was a better chance of winning the Cox Plate or Melbourne Cup, Waterhouse said: "Probably the Cup.

"I hope he can finish in the first three (on Saturday). I've kept him fresh for the race and I'd be disappointed if he couldn't, but his main goal is the Cup," Waterhouse said.

"That's what we bought him for last year and he didn't do a bad job there. Hopefully he can better himself this year."

Since Fiorente's arrival in Australia last spring he has continued to show his quality and confirmed he was among the leading Cox Plate chances with his victory in the Dato Tan Chin Nam Stakes at Moonee Valley.

Waterhouse said Fiorente was "going great guns" and admits the Cox Plate has opened up because of the scratching of Atlantic Jewel.

She claims New Zealand star It's A Dundeel is the horse to beat.

"He looks terrific and (trainer) Murray Baker has got him absolutely spot on," Waterhouse said.