GBPUSD

GBPUSD rose above 1.9454 previous high, further rally towards 1.9750 level to reach the next cycle top on 4 hours chart is possible in the next several days. Near term support is at 1.9316 and followed by 1.9260, only break below 1.9260 may signal the resumption of the down trend.

EURUSD

EURUSD is in down trend, further fall towards 1.2850 level is still possible later today. Near term resistance is at 1.3015, key resistance is at 1.3051, only break above the key resistance may signal the reversal to the down trend.

AUDUSD

AUDUSD is in correction to the down trend, further rise above 0.7850 previous high to reach the next cycle top on 4 hours chart is possible next week. Near term support is at 0.7759, only break below this level may signal the resumption of the down trend.

USDCAD

Previous high resistance at 1.1796 is broken above, USDCAD bottomed at 1.1687 on 4 hours chart. Further rise towards 1.1900 can be expected in the next several days. Key support is now at 1.1687, a break below this level may signal the reversal to the up trend.

USDJPY

USDJPY broke above 119.86 (the day high of Oct 13, 2006), more sharply rise towards 121.38 (the day high of Dec 5, 2005) can be expected in the next several days. Near term support is at the up trend line, now at 119.88, as long as the trend line support holds, up trend will continue.

USDCHF

USDCHF is in up trend, further rise towards 1.2550 is still possible later today. Near term support is at the bottom of the price channel, now at 1.2418, key support is at 1.2400 level, only break below the key support may signal the reversal to the up trend.

This entry was posted on Friday, January 12th, 2007 at 1:06 and is filed under Short Term Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.