Short Term Analysis – January 15, 2007

GBPUSD

20070115_gbpusd_1.gifGBPUSD rebounded from 1.9260 and reached 1.9606 high last week. Further rise towards 1.9750 previous high can be expected in a couple of days. Near term support is at 1.9420, only break below this level may signal the reversal to the up trend.

EURUSD

20070115_eurusd_1.gifEURUSD is in down trend, further fall towards 1.2850 level is still possible later today. Near term resistance is at the down trend line and followed by 1.3014, only break above 1.3014 level may signal the reversal to the down trend.

AUDUSD

20070115_audusd_1.gifAUDUSD is in correction to the down trend, further rise to 0.7870 to reach the next cycle top on 4 hours chart is possible later today. Near term support is at 0.7759, only break below this level may signal the resumption of the down trend.

USDCAD

20070115_usdcad_1.gifKey support at 1.1687 is broken below, USDCAD topped at 1.1802 on 4 hours chart. Further fall towards 1.1576 previous low can be expected in the next several days. Key resistance is at 1.1802, a break above this level may signal the resumption of the up trend.

USDJPY

20070115_usdjpy_1.gifUSDJPY is in up trend, further rise towards 121.38 (the day high of Dec 5, 2005) can be expected in the next several days. Near term support is at the bottom of the price channel, and as long as the channel support holds, up trend will continue.

USDCHF

20070115_usdchf_1.gifUSDCHF is in up trend, further rise towards 1.2550 level to reach the next cycle top on 4 hours chart is still possible later today. Near term support is at the bottom of the price channel, and as long as the channel support holds, up trend will continue.