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.

20060808_usdchf_1.gif

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.

20060808_usdjpy_1.gif

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.

20060808_eurusd_1.gif

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.

20060808_gbpusd_1.gif

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.

20060808_usdcad_1.gif

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.

20060808_audusd_1.gif