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Short Term Analysis – February 14, 2007

USDCAD

20070214_usdcad_1.gifAs expected, USDCAD’s fall from 1.1874 extended to as low as 1.1658, and further decline below 1.1644 previous low to reach the next cycle bottom can still be expected in the next several days. Near term resistance is at the down trend line from 1.1767, and only break above the key resistance at 1.1767 may signal the reversal to the down trend.

USDCHF

20070214_usdchf_1.gifThe up trend line from 1.2378 to 1.2458 is broken below, USDCHF topped at 1.2551 on 4 hours chart, further fall towards 1.2378 previous low can be expected in the next several days. Near term resistance is at 1.2551, only break above this level may signal the resumption of the up trend.

USDJPY

20070214_usdjpy_1.gifUSDJPY broke below the up trend line support and has topped at 122.05, more sharply fall towards 119.94 previous low can be expected in the next several days. Near term resistance is at 122.05, only break above this level may signal the resumption of the up trend.

AUDUSD

20070214_audusd_1.gifAUDUSD’s fall from 0.7820 limited by the previous low support at 0.7695, and rebounds from 0.7707 level. The pair has bottomed at 0.7707 and further rise above 0.7820 to reach the next cycle bop can be expected. Near term support is at 0.7707, only break below this level may signal the resumption of the down trend.

EURUSD

20070214_eurusd_1.gifEURUSD is testing the previous high resistance at 1.3042, if giveaways, the next target will be at 1.3062 key resistance, a break above this level will signal the resumption of the up trend and further rise towards 1.3100 can be expected.

GBPUSD

20070214_gbpusd_1.gifGBPUSD is in down trend, and further fall towards 1.9260 previous low to reach the next cycle bottom is still possible in the next several days. Near term resistance is at the down trend line, and the key resistance is at 1.9566, only break above this key resistance may signal the reversal to the down trend.

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