Short Term Analysis – December 1, 2006

GBPUSD

20061201_gbpusd_1.gifGBPUSD stays in the rising price channel and is in up trend. More sharply rise towards 2.000 level can be expected next week. Near term support is at the price channel, and up trend will contain well inside this channel.

USDJPY

20061201_usdjpy_1.gifUSDJPY topped at 116.54 on 4 hours chart and is now in down trend. Further fall below 115.37 previous low can be expected later today. Near term resistance is at 116.54, as long as this resistance holds, down trend will continue.

USDCHF

20061201_usdchf_1.gifUSDCHF topped at 1.2115 on 4 hours chart and is in down trend, further fall to test 1.1919 previous low can be expected later today. Near term resistance is at 1.2115, as long as this resistance holds, down trend will continue.

AUDUSD

20061201_audusd_1.gifAUDUSD stays in the rising price channel and is in up trend. Further rise towards 0.7950 level can be expected next week. Near term support is at the price channel, and up trend will contain well inside this channel.

USDCAD

20061201_usdcad_1.gifUSDCAD is in correction to the down trend, further rise to 1.1450 is still possible later today. Near term support is at 1.1365, a break below this level implies that the pair is topping on 4 hours chart, and further fall below 1.1285 previous low can be expected.

EURUSD

20061201_eurusd_1.gifEURUSD stays in the rising price channel and is in up trend. More sharply rise towards 1.3500 level can be expected next week. Near term support is at the price channel, and up trend will contain well inside this channel.