Short Term Analysis - December 6, 2007

20071206_gbpusd_1.gifGBPUSD
GBPUSD fell below 2.0352 previous low. Further decline towards 2.0150 area is still possible. Near term resistance is at 2.0520, as long as this resistance holds, we’d expect down trend to continue.

20071206_usdjpy_1.gifUSDJPY
USDJPY formed a short term cycle top at 111.21. Pullback towards 107.21 is still possible. Near term resistance is at 111.21, if gives way, rise towards 113.00 area can be seen in the next several days.

20071206_eurusd_1.gifEURUSD
EURUSD is in down trend. The fall from 1.4966 extended to as low as 1.4590, and further fall towards 1.4500 area is still possible. Near term resistance is at 1.4769, as long as this resistance holds, down trend would continue.

20071206_usdcad_1.gifUSDCAD
USDCAD broke out the mentioned price channel and reached as high as 1.0213. Further rise towards 1.0400 is still possible in a couple of days. Near term support is at 0.9970, as long as the pair stays above this support, further rally is in favor.

20071206_audusd_1.gifAUDUSD
AUDUSD is testing the previous low support at 0.8651, further fall below this level will still possible later today. Near term resistance is at 0.8780, only rise above this level would delay the resumption of the down trend.

20071206_usdchf_1.gifUSDCHF
USDCHF formed a short term cycle top at 1.1326. Pullback towards 1.0890 previous low is expected. Near term resistance is at 1.1326, if gives way, further rally towards 1.1500 is expected to follow.

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

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD

Sponsors
Forex Articles
Forex Reviews
Powerful Profit System

Want to be sponsor

Short Term Analysis Comments 0 Dec 6th, 2007

Leave a Reply

Other finance sites

bad credit loan
Searching for a bad credit loan can be a laborious task. Why not let All About Loans do the hard work for you? Click on the link above.

bridging loan
National Credit specialists in bridging loads and credit, clear lending rates and great fast service. Easy loan application.

Car Insurance
Check out this site for a comparison of car insurance rates..

Umbrella Companies
Great choice of Umbrella Companies from the UK`s premier company.

Compare Secured Loans
Search and compare 100s of secured loans with the loans search engine at Accepted.co.uk. Find a great deal today!