Short Term Analysis - October 18, 2006
USDCHF
Key support at 1.2665 is broken below, USDCHF topped at 1.2768 on 4 hours chart. Further fall below the up trend line support is still possible later today. Key resistance is at 1.2768, only beak above this level may signal the resumption of the up trend.
USDJPY
USDJPY is in correction to the up trend, further fall towards 117.28 previous low is possible in the next several days. Key resistance is now at 119.86, a break above this level may signal the resumption of the up trend.
AUDUSD
AUDUSD is in up trend, further rise towards 0.7577 to reach the next cycle top is possible in the next couple of days. Key support is at 0.7488, as long as this key support holds, up trend will continue.
GBPUSD
Key resistance at 1.8639 is broken above, GBPUSD bottomed at 1.8517 on 4 hours chart. Further rise towards 1.8800 is possible in the next couple of days. Key support is at 1.8517, only break below the level may signal the reversal to the up trend.
EURUSD
EURUSD bottomed on 4 hours chart, further rise above 1.2576 to reach the next cycle top is still possible later today. Key support is at 1.2483, a break below this level may signal the resumption to the down trend.
USDCAD
USDCAD is in up trend, further rise towards1.1457 previous high can be expected later today. Near term support is at the up trend line, and as long as the trend line support holds, up trend will continue.
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