Short Term Analysis – October 4, 2006

USDJPY

20061004_usdjpy_1.gifUSDJPY broke below the key support at 117.52 and topped at 118.39 on 4 hours chart. Further fall below 117.38 level to reach the next cycle bottom can be expected. Key resistance is now at 118.39, a break above this level may signal the resumption of the up trend.

EURUSD

20061004_eurusd_1.gifEURUSD is in correction to the up trend and further rise above 1.2764 level to reach the next cycle top is still possible in the next couple of days. Key support is at 1.2639, only break below this level may signal the reversal to the up trend.

USDCAD

20061004_usdcad_1.gifUSDCAD is in up trend and further rise towards 1.1294 previous high resistance the reach the next cycle top is still possible in the next couple of days. Key support is now at 1.1144, as long as this key support holds, up trend will continue.

GBPUSD

20061004_gbpusd_1.gifGBPUSD is in up trend and further rise towards 1.9000 area to reach the next cycle top is possible in the next couple of days. Key support is at 1.8631, only break below this level may signal the reversal to the up trend.

AUDUSD

20061004_audusd_1.gifAUDUSD is in down trend, and further fall towards 0.7400 level can be expected in next couple of days. Key resistance is now at 0.7494, only rise above the level may signal the reversal to the down trend.

USDCHF

20061004_usdchf_1.gifUSDCHF is in down trend and further fall below 1.2404 level can be expected later today. Key resistance is at 1.2566, only rise above this level may signal the reversal to the down trend.