Short Term Analysis – October 13, 2006

USDJPY

20061013_usdjpy_1.gifUSDJPY is topping on 4 hours chart, further fall lower to test the up trend line support is possible in the next several days. Now the pair is treated as in correction to the up trend, and the up trend will resume after break above the near term resistance at 119.82 level.

AUDUSD

20061013_audusd_1.gifThe key resistance at 0.7483 is broken above, AUDUSD bottomed at 0.7414 on 4 hours chart. Further rise to test the previous high resistance at 0.7577 can be expected in the next several days.

GBPUSD

20061013_gbpusd_1.gifGBPUSD is bottoming on 4 hours chart and will form a sideways consolidation in a range between 1.8517 and 1.8702. A break below 1.8517 may signal the resumption of the down trend.

EURUSD

20061013_eurusd_1.gifEURUSD is bottoming on 4 hours chart and will form a sideways consolidation in a range between 1.2502 and 1.2612 in the next several days. Key resistance is at 1.2612, the fall from 1.2764 would end by breaking above this level.

USDCAD

20061013_usdcad_1.gifUSDCAD is in up trend and further rise towards the previous high resistance at 1.1457 to reach the next cycle top is possible in the next several days. The near term support is at the up trend line, and as long as the trend line support holds, up trend will continue.

USDCHF

20061013_usdchf_1.gifUSDCHF is topping on 4 hours chart, further fall lower to test the up trend line support is possible in the next several days. Near term resistance is at 1.2743, a break above this level may signal the resumption of the up trend.