USDJPY

USDJPY is bottoming on 4 hours chart and is testing the down trend line resistance, a break and close above the trend line will confirm the cycle bottom. Near term resistance is at the down trend line and followed by 121.34. Near term support is at 119.94, only break below 119.94 may signal the resumption of the down trend.

USDCHF

USDCHF is testing the key support at 1.2374, a break below this level will signal the reversal of the up trend, and fall towards 1.2250 can be expected in the next several days. Near term resistance is at the down trend line from 1.2571 to 1.2517, and followed by 1.2517 level.

USDCAD

USDCAD is in up trend. Further rise towards 1.1950 is still possible in the next several days. Near term support is at 1.1805, only break below this level may delay the resumption of the up trend. Near term resistance is at 1.1870, a break above this level will signal the resumption of the up trend.

AUDUSD

AUDUSD is moving higher towards 0.7800 to reach the next cycle top on 4 hours chart. Near term support is at the up trend line and followed by 0.7695, only break below 0.7695 will signal the resumption of the down trend.

EURUSD

No change in our view, EURUSD is forming a sideways consolidation in a range between 1.2865 and 1.3062, key support is at 1.2865, break below this level indicate medium term bearish movement is underway, and further fall towards 1.2600 can be seen. On the other side, if 1.3062 resistance gives way, EURUSD will rise towards 1.3200 level.

GBPUSD

No change in our view, GBPUSD is in correction to the down trend, further fall below 1.9480 previous low can be expected after this correction. Near term support is at 1.9535 and followed by 1.9480, a break below 1.9535 may signal the resumption of the down trend.

This entry was posted on Thursday, February 8th, 2007 at 0:33 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.