Short Term Analysis - December 3, 2007

20071203_usdjpy_1.gifUSDJPY
USDJPY is moving towards the next short term cycle top and the next cycle top is nearing. Key support is at 109.46, a break below this level would confirm the cycle top and signal the resumption of the down trend.

20071203_eurusd_1.gifEURUSD
EURUSD broke below the previous low support at 1.4711 and reached as low as 1.4627. Further fall towards 1.4500 area is still possible in a couple of days. Near term resistance is at 1.4784, as long as this resistance holds, down trend will continue.

20071203_usdcad_1.gifUSDCAD
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.

20071203_audusd_1.gifAUDUSD
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 after consolidation. Near term resistance is at 0.8952, and followed by 0.9068.

20071203_gbpusd_1.gifGBPUSD
GBPUSD broke below the key support at 2.0581, and formed a short term cycle top at 2.0830. Further fall towards 2.0400 to reach the next short term cycle bottom may be expected. Key resistance is at 2.0830, only break of this level would indicate lengthier correction to the down trend.

20071203_usdchf_1.gifUSDCHF
USDCHF is moving towards the next short term cycle top and the next cycle top is nearing. Key support is at 1.1096, a break below this level would confirm the cycle top and 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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Short Term Analysis Comments 0 Dec 3rd, 2007

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