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Short Term Analysis – May 25, 2007

20070525_gbpusd_1.gifGBPUSD
GBPUSD is in correction to the down trend. Further rise towards 1.9999 to reach the next cycle top on 4 hours chart can be expected and a break above 1.9895 will confirm such case. Near term support is at 1.9795 and key support is at 1.9676, a break below the key support will signal the resumption of the down trend.

20070525_usdchf_1.gifUSDCHF
USDCHF is bottoming at 1.2239 on 4 hours chart, sideways consolidation in a range between 1.2239 and 1.2331 can be expected later today, rise towards 1.2400 can be seen after consolidation, and a break above 1.2331 will signal the resumption of the up trend.

20070525_usdcad_1.gifUSDCAD
USDCAD is in consolidation to the down trend. Pullback towards the down trend line is possible, down trend will resume after testing the trend line resistance, and a break below 1.0802 will signal the resumption of the down trend.

20070525_usdjpy_1.gifUSDJPY
USDJPY broke below the key support at 121.20 and topped at 121.87 on 4 hours chart. Further fall towards the up trend line from 117.59 (Apr 19 low) to 119.46 (May 11 low) can be expected in a couple of days. Key resistance is at 121.87, a break above this level will signal the resumption of the up trend.

20070525_audusd_1.gifAUDUSD
AUDUSD broke below the key support at 0.8181 and topped at 0.8267 on 4 hours chart. Further fall towards 0.8130 can be seen. Near term resistance is at 0.8267, only break above this level will signal the reversal to the down trend.

20070525_eurusd_1.gifEURUSD
EURUSD is in down trend. The fall from 1.3681 extended to as low as 1.3414, further fall towards 1.3350 is still possible in a couple of days. Key resistance is at 1.3501, a break above this level will signal the consolidation to the down trend.

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