Short Term Analysis – September 15, 2006

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AUDUSD

20060915_audusd_1.gifAUDUSD is in correction to the down trend and further rise to 0.7573 and 0.7601 Fibonacci retracement level to reach the next cycle top is possible later today. Down trend would resume after this correction.

USDCHF

20060915_usdchf_1.gifUSDCHF is topping on 4 hours chart, key support is now at 1.2433, a break below this level may signal the cycle top. On the other side, the pair stays in the rising price channel, it is in up trend, and further rise above 1.2547 is still possible later today.

USDJPY

20060915_usdjpy_1.gifUSDJPY topped at 118.14, and further fall towards the bottom of the price channel is possible in the next several days. Key resistance is at 118.14, only break above this level may signal the resumption of the up trend.

GBPUSD

20060915_gbpusd_1.gifAs expected, GBPUSD rise above 1.8868 level. Further rise towards 1.9000 area to reach the next cycle top is still possible later today. On the other side, the next cycle top on 4 hours chart is nearing, a slightly correction is needed before the resumption of the up trend.

USDCAD

20060915_usdcad_1.gifUSDCAD broke below the key support at 1.1155 and topped at 1.1234 on 4 hours chart. At the same time, it is likely to be bottoming on 4 hours chart. Further rise above 1.1234 can be expected in the next several days. Only break below 1.1118 may signal the resumption to the down trend.

EURUSD

20060915_eurusd_1.gifThe key resistance at 1.2739 is broken above, EURUSD topped on 4 hours chart. Further rise towards 1.2780 level to reach the next cycle top is possible later today. Key support is now at 1.2666, only break below this level may signal the resumption to the down trend.