Short Term Analysis - November 30, 2007
EURUSD
EURUSD is testing the previous low support at 1.4711, if gives ways, the pair would find support at 1.4600 area. Key resistance is at 1.4966, a break of this level would signal the resumption of the up trend.
USDCAD
USDCAD’s up trend remains, and further rise towards 1.0100 to reach the next short term cycle top is still possible in the next several days. Near term support is at price channel, a break below the channel support will signal the reversal to the up trend.
AUDUSD
AUDUSD is in consolidation to the down trend. Fall below 0.8651 previous low to reach the next short tem cycle bottom is still possible in the next several days. Near term resistance is at 0.8952, and followed by 0.9068.
GBPUSD
GBPUSD is in correction to the down trend. Further rebound towards 2.0900 area is still possible in a couple of days. Near term support is at the up trend line from 2.0352 to 2.0581, and key support is at 2.0581, a break below this level would signal the resumption of the down trend.
USDCHF
USDCHF broke of the mentioned falling price channel and reached as high as 1.1208, further rebound towards 1.1300 area to reach the next short term cycle top is still possible in a couple of days. Key support is now at 1.1050, a break below this level would signal the resumption of the down trend.
USDJPY
USDJPY is in down trend. The rebound from 107.21 is treated as correction to the down trend. Further rise towards 111.74 to reach the next short term cycle top is still possible in a couple of days. Key support is at 107.21, a break below this level would signal the resumption of the down 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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