Short Term Analysis – November 13, 2006

GBPUSD

20061113_gbpusd_1.gifThe previous high resistance at 1.9135 is broken above, and the up trend of GBPUSD resumes. Further rise towards 1.9300 level to reach the next cycle top on 4 hours chart is possible in the next several days. Key support is at 1.8973, only break below this level may signal the reversal to the up trend.

USDJPY

20061113_usdjpy_1.gifKey support at 117.24 is broken below, USDJPY topped at 118.58, and further fall towards 116.57 previous low can be expected in the next several days. Near term resistance is at the down trend line, drawing from 119.64 to 118.58.

AUDUSD

20061113_audusd_1.gifAUDUSD is bottoming at 0.7644 on 4 hours chart, key resistance is now at 0.7697, a break above this level may confirm the cycle bottom, and further rise towards 0.7759 can be expected after breaking above 0.7697 level. Near term support is at 0.7644, a break below this level may pull price back towards 0.7600 level.

USDCAD

20061113_usdcad_1.gifUSDCAD is forming a sideways consolidation in a range between 1.1254 and 1.1331, and further fall below 1.1254 to reach the next cycle bottom on 4 hours chart is still possible in the next couple of days.

USDCHF

20061113_usdchf_1.gifUSDCHF is in down trend, and further fall towards 1.2291 previous low can be expected in the next several days. Key resistance is now at 1.2523, only break above this level may signal the reversal to the down trend.

EURUSD

20061113_eurusd_1.gifEURUSD is in up trend, and further rise towards 1.2937 previous high to reach the next cycle top on 4 hours chart can be expected in the next several days. Key support is now at 1.2745, only break below this level may signal the reversal to the up trend.