USDCAD
USDCAD formed a short term cycle top at 0.9824 and broke below 0.9632 previous low. Further fall towards 0.9400 is expected. Near term resistance is at 0.9824, as long as this resistance holds, down trend will continue.

EURUSD
EURUSD topped at 1.4348, further fall towards 1.4014 previous low is still possible in the next several days. Near term resistance is at 1.4348 only break above this level will signal the resumption of the up trend.

AUDUSD
AUDUSD is forming a sideways consolidation in a range between 0.8748 and 0.9077, it will move without trend in this range in the next several days. Key resistance is at 0.9077, only break above this level will signal the resumption of the up trend.

USDJPY
USDJPY is bottoming at 113.23 on 4 hours chart, key resistance is at 115.01, a break above this level will confirm the cycle bottom. Near term support is at 113.23, if gives way, the pair will find support at 112.00 area.

GBPUSD
GBPUSD is in up trend, the fall from 2.0538 is treated as consolidation to the up trend, further rise towards 2.0800 is still possible after consolidation, and a break above 2.0538 will confirm such case.

USDCHF
USDCHF is forming a short term cycle top at 1.1784, key support is at 1.1700, a break below this level will confirm the cycle top, and further fall towards 1.1599 previous low can be seen. Near term resistance is at 1.1784, if gives way, rise towards 1.1891 is expected.

Please click the following links for more short term and long term forex analysis.

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD

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This entry was posted on Thursday, October 25th, 2007 at 2:15 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.