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Short Term Analysis – September 25, 2007

20070925_eurusd_1.gifEURUSD
EURUSD is in consolidation to the up trend. Further fall towards 1.4030 to reach the next cycle bottom is still possible in the next several days. Near term support is at the up trend line from 1.3550 to 1.3827. Up trend will resume after consolidation and a break above 1.4129 will signal the resumption of the up trend.

20070925_usdcad_1.gifUSDCAD
USDCAD formed a short term cycle bottom at 0.9935 on 4 hours chart. However, the rise from 0.9935 is treated as consolidation to the down trend, and further fall towards 0.9800 is still in favor after consolidation.

20070925_usdjpy_1.gifUSDJPY
USDJPY pulled back from 115.83, and further fall below 113.97 to reach the next cycle bottom on 4 hours chart is still possible later today. Near term resistance is at 115.83, a break above this level will signal the resumption of the up trend.

20070925_gbpusd_1.gifGBPUSD
GBPUSD failed to test the previous high resistance at 2.0365 and pulled back from 2.0319. Consolidation can be seen in the next several days and further fall towards 2.0050 area is still possible. Near term resistance is at 2.0319, a break above this level will signal the resumption of the up trend.

20070925_audusd_1.gifAUDUSD
AUDUSD is in consolidation to the up trend. Break below 0.8605 key support is expected and further fall towards 0.8550 area to reach the next cycle bottom on 4 hours chart can be seen. Near term resistance is at 0.8703, a break above this level will signal the resumption of the up trend.

20070925_usdchf_1.gifUSDCHF
USDCHF is in consolidation to the down trend. Further fall towards 1.1600 is still possible after consolidation. Near term resistance is at 1.1800, and as long as this resistance holds, down trend will continue.

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