USDCAD
USDCAD is in down trend, the rise from 1.0548 is treated as consolidation to the down trend. The pair is topping at 1.0712 on 4 hours chart, key support is at 1.0548 previous low, a break below this level will confirm the cycle top and signal the resumption of the down trend.

USDJPY
USDJPY formed a sideways consolidation in a range between 120.76 and 122.13 for 3 weeks, and lengthier consolidation will more likely be seen in the next several days. Only break above 122.43 key resistance will signal the resumption of the up trend.

GBPUSD
GBPUSD broke below 1.9676 previous low last Friday. More sharply fall towards 1.9500 can still be expected in a couple of days. Near term resistance is at 1.9790, only break above this level will delay the resumption of the down trend.

USDCHF
As expected, USDCHF rise above 1.2331 previous high last Friday. More sharply rise towards 1.2450 can still be expected in a couple of days. Near term support is at 1.2235, only break below this level will delay the resumption of the up trend.

AUDUSD
AUDUSD is in consolidation to the up trend, further fall towards 0.8320 to reach the next cycle bottom on 4 hours chart is still possible in a couple of days. Key resistance is at 0.8476, only break above this level will signal the resumption of the up trend.

EURUSD
EURUSD broke below 1.3391 previous low last Friday. More sharply fall towards 1.3200 can still be expected in a couple of days. Near term resistance is at 1.3450, only break above this level will delay the resumption of the down trend.

Sponsors
Forex Articles
Forex Reviews

Want to be sponsor

This entry was posted on Monday, June 11th, 2007 at 0:14 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.