Sponsors

Short Term Analysis – January 31, 2007

EURUSD

20070131_eurusd_1.gifEURUSD will form a sideways consolidation in a range between 1.2876 and 1.3042. A break below 1.2876 indicates the medium term bearish movement is underway, and further fall towards 1.2750 level can be expected. On the other side, key resistance is at 1.3042, break above this level may signal the resumption of the up trend.

USDCHF

20070131_usdchf_1.gifUSDCHF is testing the up trend line support, further fall towards 1.2450 can be expected if the trend line support is broken below. Near term resistance is at 1.2563, a break above this level will signal the resumption of the up trend, and more sharply rise towards 1.2700 level can be seen.

USDCAD

20070131_usdcad_1.gifUSDCAD traded in a narrow range between 1.1780 and 1.1845. Break above 1.1849 signal the resumption of the up trend, more sharply rise towards 1.1950 can be seen. Near term support is at 1.1780 and followed by 1.1729, only fall below 1.1729 may signal the reversal to the up trend.

AUDUSD

20070131_audusd_1.gifAUDUSD is in down trend, further fall towards 0.7650 is still possible later today. Near term resistance is at 0.7748, only break above this level may delay the resumption of the down trend and further rise towards 0.7800 to reach the next cycle top on 4 hours chart can be expected.

GBPUSD

20070131_gbpusd_1.gifGBPUSD is in down trend, rebound from 1.9547 is treated as in correction of the down trend, and further fall below 1.9547 can be expected after this correction. Near term resistance is at 1.9695, only break above this level will delay the resumption of the down trend.

USDJPY

20070131_usdjpy_1.gifUSDJPY is testing the price channel support, sharply rise towards 122.50 will more likely be seen if the price channel support holds. Near term support is at 121.45, only break below this level will delay the resumption of the up trend.

Comments are closed.



Other finance sites

Forex Articles
Providing free forex articles and trading courses.