Short Term Analysis – October 3, 2006

EURUSD

20061003_eurusd_1.gifAs expected, EURUSD broke the key resistance at 1.2732 and bottomed at 1.2639 low. Further rise towards 1.2800 to reach the next cycle top is possible in the next couple of days.

GBPUSD

20061003_gbpusd_1.gifGBPUSD broke above the down trend line resistance and bottomed at 1.8631 low. Rise towards 1.9072 previous high resistance to reach the next cycle top can be expected in the next several days.

USDCAD

20061003_usdcad_1.gifUSDCAD is topping on 4 hours chart, it will form a consolidation before the resumption of the up trend. Near term resistance is at 1.1219, a break above this level may signal the resumption of the up trend.

USDCHF

20061003_usdchf_1.gifKey support at 1.2452 is broken below and USDCHF topped at 1.2566 high. Further fall towards 1.2291 previous low support to reach the next cycle bottom is possible in the next several days.

AUDUSD

20061003_audusd_1.gifAUDUSD is in down trend, and further fall below 0.7433 is still possible in the next couple of days. Key resistance is at 0.7516, only break above the level may signal the reversal to the down trend.

USDJPY

20061003_usdjpy_1.gifThe price channel support is broken below, USDJPY is topping on 4 hours chart. It will form a sideways consolidation in the next several days before the resumption to the up trend, a break above 118.39 may signal the resumption of the up trend.