Short Term Analysis - August 8, 2006

USDCHF

USDCHF is in down trend, the rebound from 1.2191 is possibly be a correction to the down trend, and the down trend will resume after broken below the support at 1.2191. Key resistance is at 1.2354, only break above this level may signal a reversal of the down trend.

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USDJPY

USDJPY is forming a sideways consolidation in a range between 113.96 and 115.54. Down trend will resume after this consolidation, and a break below 113.96 may signal the resumption of the down trend. Key resistance is at 115.54, only break above this level may signal a reversal of the down trend.

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EURUSD

EURUSD is treated in up trend as the key support at 1.2742 holds, the fall from 1.2908 is possibly be a correction to the up trend. Up trend will resume after breaking above 1.2908 resistance.

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GBPUSD

GBPUSD’s up trend is limited by the price channel, and it’s forming a slightly correction. Up trend will resume after this correction, and a break above 1.9127 may signal the resumption of the up trend. Key support is at 1.8700, only break below this level may signal a reversal of the up trend.

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USDCAD

Support at 1.1221 level is broken below, USDCAD’s down trend resumed. Further fall towards 1.1141, ( the bottom of the price channel on daily chart ) is possible later today. Key resistance is at 1.1345, only break above this level may signal a reversal of the down trend.

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AUDUSD

AUDUSD is forming a sideways consolidation in a range between 0.7584 and 0.7680. Up trend will resume after this consolidation, and a break above 0.7680 may signal the resumption of the up trend. Key support is now at 0.7584, only break below this level may delay the resumption of the up trend.

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