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Short Term Analysis – October 19, 2006

AUDUSD

20061019_audusd_1.gifAUDUSD is in up trend, further rise towards 0.7577 to reach the next cycle top is possible in the next couple of days. Near term support is at the up trend line, break below the trend line support may imply that the pair is topping on 4 hours chart, pullback towards 0.7488 can be expected.

USDCHF

20061019_usdchf_1.gifUSDCHF topped at 1.2768 on 4 hours chart, further fall below 1.2638 to reach the next cycle bottom is possible in the next couple of days. Key resistance is at 1.2768, only break above this level may signal the resumption of the up trend.

USDJPY

20061019_usdjpy_1.gifUSDJPY topped at 119.86 on 4 hours chart, further fall towards 117.38 to reach the next cycle bottom is possible in the next several days. Key resistance is at 119.86, only break above this level may signal the resumption of the up trend.

USDCAD

20061019_usdcad_1.gifUSDCAD is topping at 1.1413 on 4 hours chart and is testing the up trend line support. It will form a sideways consolidation in a range between 1.1320 and 1.1413 in the next several days. Further rise above 1.1413 can be expected after this consolidation.

GBPUSD

20061019_gbpusd_1.gifGBPUSD bottomed at 1.8517, further rise towards 1.8800 level to reach the next cycle top 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

20061019_eurusd_1.gifEURUSD bottomed at 1.2483, 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 of the down trend.

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