Subscribe our Short Term Analysis at $19.95/mo
You can subscribe our Short Term Analysis at $19.95 per month before the end of September 2006.
As expected, USDJPY broke above 117.49 resistance. Further rise above 117.87 previous high resistance to reach the next cycle top is possible in the next couple of days. Key support is at 115.99, only break below this level may signal the reversal to the up trend.
EURUSD is testing the resistance of price channel, it may be bottoming on 4 hours chart, key resistance is at 1.2739, and a break above this level may label the cycle bottom at 1.2648. Key support is now at 1.2648, break below this level may signal the resumption of the down trend.
AUDUSD is in down trend, and further fall to 0.7500 level is still possible later today. On the other side, the cycle bottom is nearing and the RSI is low, a slightly correction to the down trend is needed immediately.
USDCHF is topping on 4 hours chart, key support is now at 1.2393, a break below this level may label the cycle top at 1.2506, and further fall towards 1.2326 level is possible after breaking below the key support. Key resistance is at 1.2506, break above this level may signal the resumption of the up trend.
GBPUSD is in down trend and further fall towards 1.8400 area is possible in the next several days. Near term resistance is at the top of the standard deviation channel now at 1.8715, and key resistance is at 1.8868, only break above this level may signal the reversal to the down trend.