Short Term Analysis - March 27, 2007
EURUSD
EURUSD topped at 1.3410 on 4 hours, the rise from 1.3253 is treated as in correction to the down trend, further fall towards 1.3086 previous low is still in favor, and a break below 1.3253 level will confirm such case. Key resistance is at 1.3410, only break above this level will signal the resumption of the up trend.
USDJPY
USDJPY is in rising Wedge Pattern, further rise above 118.49 previous high to reach the next cycle top is still possible later today, and the next cycle top is nearing. Key support is at 117.38, a break below this level will confirm the cycle top.
USDCAD
USDCAD is in correction of the down trend, sideways consolidation can be expected in the next several days. Near term support is at 1.1528, and a break below this level will signal the resumption of the down trend.
AUDUSD
Being contained by the price channel support, AUDUSD bottomed at 1.8028 on 4 hours chart. Further rise towards 0.8200 can be expected in the next several days. Near term support is at 0.8028 only fall below this level will delay the resumption of the up trend.
USDCHF
USDCHF is topping at 1.2227 on 4 hours chart, key support is at 1.2116, a break below this level will confirm the cycle top, and further fall towards 1.2029 previous low can be expected in the next several days. Near term resistance is at 1.2227, only break above this level may signal the resumption of the up trend.
GBPUSD
No changed in our view, GBPUSD is topping at 1.9726 on 4 hours chart, key support is now at 1.9571, a break below this level will confirm the cycle top. Near term resistance is at 1.9726, only break above this level may signal the resumption of the up trend.
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