# Short Term Analysis – September 28, 2007

EURUSD
EURUSD is in up trend, the rise form 1.3360 (Aug 16 low) extended to as high as 1.4189, further rise towards 1.4250 to reach the next cycle top on 4 hours chart is still possible later today. Key support is at 1.4110, a break below this level will signal consolidation to the up trend, and pullback towards 1.4050 area is expected to follow.

USDCAD is in consolidation to the down trend, further rise towards 1.0200 area is still possible in the next several days. Down trend will resume after consolidation, fall towards 0.9800 is expected, and a break below 0.9935 will signal the resumption of the down trend.

USDJPY
USDJPY formed a sideways consolidation in a range between 113.97 and 116.36. A break above 116.36 level will signal the resumption of the up trend and rise towards 119.00 is expected. Near term support is at 113.97, if gives way, the price will find support at 112.58 previous low.

GBPUSD
GBPUSD is in consolidation to the up trend, further rise towards 2.0500 is expected after consolidation, and a break above 2.0319 will signal the resumption of the up trend. Near term support is at 2.0085 and followed by 2.0050.

AUDUSD
AUDUSD is in up trend, further rise towards 0.8870 (July 25 high) is still possible later today, and a break above this level will signal the resumption of the long term up trend. Near term support is at 0.8605, as long as this support holds, up trend will continue.

USDCHF
USDCHF is in consolidation to the down trend. Further fall towards 1.1550 is still possible after consolidation. Near term resistance is at 1.1800, and as long as this resistance holds, down trend will continue.