Short Term Analysis - October 31, 2006
AUDUSD
The up trend of AUDUSD is limited by the top of the price channel, a slightly correction is needed before the resumption of the up trend, and further rise towards 0.7719 previous high can be expected after this correction. Key support is at 0.7610, only break below this level may delay the resumption of the up trend.
GBPUSD
GBPUSD is in up trend, and further rise towards 1.9072 can be expected after a slightly correction. Near term support is at 1.8950 level, key support is at 1.8869, only break below the key support may signal the reversal to the up trend.
EURUSD
EURUSD is forming a sideways correction to the up trend in a range between 1.2662 and 1.2749, and up trend will resume after this correction. Key support is at 1.2662, only break below this level may signal the reversal to the up trend.
USDCHF
USDCHF is in down trend and further fall towards 1.2404 previous low can be expected in the next couple of days. Key resistance is at 1.2570, only break above this level may signal the reversal to the down trend.
USDJPY
USDJPY is in down trend and further fall towards 116.50 can be seen in the next couple of days. Key resistance is at 118.71, only break above this level may signal the reversal to the down trend.
USDCAD
USDCAD is in down trend, the rebound from 1.1176 is treated as in correction to the down trend, and further fall below 1.1176 is still possible in the next couple of days. Key resistance is at 1.1306, only break above this level may signal the reversal to the down trend.
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