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Short Term Analysis – November 20, 2007

20071120_usdjpy_1.gifUSDJPY
USDJPY is forming a sideways consolidation in a range between 109.12 and 111.74. 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.

20071120_audusd_1.gifAUDUSD
AUDUSD is forming a sideways consolidation in a range between 0.8752 and 0.9068. Further rise towards 0.9150 area to reach the next short term cycle top is still possible. 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.

20071120_usdchf_1.gifUSDCHF
USDCHF is in down trend. The fall from 1.1891 extended to as low as 1.1144. 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.

20071120_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.

20071120_gbpusd_1.gifGBPUSD
GBPUSD pulled back from the down trend line from 2.1161 to 2.0843. Further fall towards 2.0200 is expected. Near term resistance is at 2.0565, only break above this level will signal the reversal to the down trend, and further rise towards 2.0843 previous high can be seen.

20071120_usdcad_1.gifUSDCAD
USDCAD is in up trend, further rise towards 1.0000 is still possible in the next several days. Key support is at 0.9511, only break below this level will signal the reversal to the up trend, and further fall towards 0.9200 area is expected to follow.

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

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD

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