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Short Term Analysis – Feb 25, 2008

20080225_usdjpy_1.gifUSDJPY Analysis.
USDJPY is in up trend. The fall from 108.59 is treated as in consolidation to the up trend. Further rise towards 110.00 area to reach the next short term cycle top on 4-hour chart is still possible after consolidation. Near term support is now at the price channel, as long as the channel support holds, we’d expect up trend to continue.

20080225_usdchf_1.gifUSDCHF Analysis.
USDCHF broke below 1.0884 previous low and is now in down trend. Deeper decline to test 1.0729 (Feb 1 low) could be seen in a couple of days. Near term resistance is at 1.0916 and followed by the down trend line from 1.1105 to 1.1031, as long as the trend line resistance holds, we’d expect down trend to continue.

20080225_usdcad_1.gifUSDCAD Analysis.
USDCAD formed a short term cycle top at 1.0198 level. Sideways consolidation in a range between 1.0021 and 1.0198 is expected in a couple of days. Key support is at 1.0021, only break of this level will signal the reversal to the up trend. Near term resistance is at 1.0198, a break of the level will signal the resumption of the up trend.

20080225_eurusd_1.gifEURUSD Analysis.
EURUSD is in up trend. The rise from 1.4438 extended to as high as 1.4861. Further rally to test 1.4951 previous high resistance is still possible. Near term support is at 1.4750 followed by the up trend line from 1.4438 to 1.4613, as long as the trend line support holds, up trend will continue.

20080225_gbpusd_1.gifGBPUSD Analysis.
GBPUSD is in up trend. The rise from 1.9361 extended to as high as 1.9707. Further rally towards 1.9900 area to reach the next short term cycle top is still possible. Key support is at 1.9361, only break of this level will signal the resumption of the down trend.

20080225_audusd_1.gifAUDUSD Analysis.
AUDUSD breaks above 0.9236 previous high and up trend resumes. Further rally to test 0.9398 (Nov 7, 2007 high) is now in favor. Near term support is at the price channel, as long as the channel support holds, up trend will continue.

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