Short Term Analysis – December 19, 2006

GBPUSD

20061219_gbpusd_1.gifPrevious low support at 1.9463 is broken below, GBPUSD is now in down trend, and further fall towards 1.9350 level is still possible in the next several day. Near term resistance is at 1.9578, as long as this resistance holds, down trend will continue.

USDJPY

20061219_usdjpy_1.gifUSDJPY is in up trend and further rise towards 118.58 precious high to reach the next cycle top on 4 hours chart is still possible later today. The next cycle top is nearing. Key support is at 117.43, a break below this level may signal the reversal to the up trend.

USDCHF

20061219_usdchf_1.gifUSDCHF is in up trend, and further rise towards 1.2300 level is still possible in the next several days. Near term support is at 1.2115, only break below this level may signal the reversal to the up trend.

USDCAD

20061219_usdcad_1.gifUSDCAD is in up trend and further rise above 1.1587 to reach the next cycle top on 4 hours chart is still possible later today. Key support is now at 1.1527, a break below this level may signal the reversal to the up trend.

AUDUSD

20061219_audusd_1.gifAUDUSD is now in down trend, further fall towards 0.7770 level is possible in a couple of days. Near term resistance is at 0.7843, only break above this level may signal the reversal to the down trend.

EURUSD

20061219_eurusd_1.gifEURUSD is in down trend, and further fall towards 1.3100 is possible in the next several days. Near term resistance is 1.3186, only break above this level may signal the reversal to the down trend.