Short Term Analysis – September 11, 2006

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EURUSD

20060911_eurusd_1.gifEURUSD is in down trend and further fall towards 1.2600 level is possible later today. On the other side, the next cycle bottom is nearing on 4 hours chart, rebound to 1.2700 level is needed immediately.

USDCHF

20060911_usdchf_1.gifUSDCHF is in up trend and further rise towards 1.2550 area to reach the next cycle top is possible later today. On the other side, the next cycle top is nearing, pullback to 1.2400 area is needed immediately.

AUDUSD

20060911_audusd_1.gifAUDUSD is in down trend, and further fall to 0.7500 level is possible later today. On the other side, RSI is low and the cycle bottom is nearing, a slightly correction to the down trend is needed immediately.

GBPUSD

20060911_gbpusd_1.gifGBPUSD is in down trend and further fall towards 1.8400 area is possible in the next several days. Near term resistance is at the top of the standard deviation channel now at 1.8777, and key resistance is at 1.8868, only break above this level may signal the reversal to the down trend.

USDCAD

20060911_usdcad_1.gifKey resistance at 1.1137 is broken above, USDCAD has bottomed on 4 hours chart. Further rise towards 1.1271 previous high is possible in the next couple of days. Key support is at 1.1042, only break below this level may signal the reversal to the up trend.

USDJPY

20060911_usdjpy_1.gifUSDJPY stays in the rising price channel. Further move higher above 117.49 is possible in the next several days. Key support is now at 115.99, only break below this level may signal the reversal to the up trend.