Short Term Analysis – September 4, 2006

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EURUSD

20060904_eurusd_1.gifEURUSD is forming a side ways consolidation in a range between 1.2695 and 1.2937. Up trend will resume after this consolidation. Key resistance is at 1.2878, break above this level may signal the resumption of the up trend. Key support is now at 1.2754, only break below this level may signal the reversal to the up trend.

GBPUSD

20060904_gbpusd_1.gifGBPUSD is in correction to the up trend and further rise above 1.9142 is possible in the next several days. Key resistance is at 1.9090, break above this level will signal the resumption of the up trend. Key support is at 1.8956, only break below this level may signal the reversal to the up trend.

AUDUSD

20060904_audusd_1.gifAUDUSD is in up trend and further rise above 1.7712 previous high can be expected in the next couple of days. Key support is at 0.7626, as long as this key support holds, up trend will continue.

USDCHF

20060904_usdchf_1.gifUSDCHF is forming a sideways consolidation in a range between 1.2182 and 1.2444. Down trend would resume after this consolidation. Key support is at 1.2226, break below this level may signal the resumption of the down trend. Key resistance is now at 1.2387, if this resistance gives way, the pair would rise above 1.2422 level to reach the next cycle top.

USDJPY

20060904_usdjpy_1.gifUSDJPY is treated as in correction to the up trend. Further fall towards the up trend line, drawing from 113.96 to 115.35, is possible later today. Up trend would resume after this correction. Key support is at 116.50, only break below this level may signal the reversal to the up trend.

USDCAD

20060904_usdcad_1.gifUSDCAD is in down trend. Further fall towards 1.0960 previous low support is possible in the next several days. Key resistance is at 1.1115, only break above this level may signal the reversal to the down trend.