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Short Term Analysis – November 19, 2007

20071119_audusd_1.gifAUDUSD
AUDUSD rebounded from 0.8752, and further rise towards 0.9150 area to reach the next short term cycle top is still in favor. Near term support is at 0.8752, and long term key support is at 0.8748, a break below this level will signal the resumption of long term down trend.

20071119_usdchf_1.gifUSDCHF
USDCHF is in down trend. The fall from 1.1891 extended to as low as 1.1157. Further fall towards 1.1000 is still possible in the next several days. Near term resistance is at 1.1260 and key resistance is at 1.1298, only break above 1.1298 level will signal the reversal to the down trend.

20071119_eurusd_1.gifEURUSD
EURUSD is forming a sideways consolidation in a range between 1.4519 and 1.4751. Pullback below 1.4519 is still possible before breaking of 1.4751 level. Key resistance is at 1.4751, a break above this level will signal the resumption of the up trend.

20071119_usdjpy_1.gifUSDJPY
USDJPY is in consolidation to the down trend. Further fall towards 105.00 is expected, and a break below 109.12 will signal the resumption of the down trend. Near term resistance is at 111.74, only break above this level will indicate lengthier correction to the down trend.

20071119_gbpusd_1.gifGBPUSD
GBPUSD is forming a short term cycle bottom at 2.0352. Further rebound towards 2.0843 previous high is still possible in a couple of days. Near term support is at 2.0352, a break below this level will signal the resumption of the down trend.

20071119_usdcad_1.gifUSDCAD
USDCAD is forming a short term cycle top at 0.9887, key support is at 0.9511, a break below this level will confirm the cycle top, and further fall towards 0.9200 area is expected to follow. Near term resistance is at 0.9887, only break above this level will signal the resumption of the up trend.

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

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD

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