Short Term Analysis – October 15, 2007

20071015_gbpusd_1.gifGBPUSD
As expected, GBPUSD broke below 2.0255 previous low, further fall towards 2.0200 area to reach the next cycle bottom on 4 hours chart is still possible in the next several days. Key resistance is at 2.0492, a break above this level will signal the resumption of the up trend.

20071015_usdchf_1.gifUSDCHF
USDCHF topped at 1.1891 on 4 hours chart, pullback towards 1.1622 previous low is expected to follow. Near term resistance is at 1.1891, only rise above this level will signal the resumption of the up trend.

20071015_audusd_1.gifAUDUSD
AUDUSD is in up trend, further rise towards 0.9200 is still possible in the next several days. Near term support is at the up trend line from 0.8794 to 0.8951, and followed by 0.8910, only break below 0.8910 will signal consolidation to the up trend.

20071015_eurusd_1.gifEURUSD
EURUSD is in sideways consolidation in a range between 1.4014 and 1.4281. Pullback towards 1.4014 previous low is in favor. Up trend will resume after consolidation and a break above 1.4281 level will signal the resumption of the up trend.

20071015_usdcad_1.gifUSDCAD
USDCAD is in down trend, further fall towards 0.9600 is still possible in the next several days. Near term resistance is at 0.9796 and followed by 0.9894, only rise above 0.9894 level will signal consolidation to the up down trend.

20071015_usdjpy_1.gifUSDJPY
USDJPY is in up trend, further rise towards 119.00 is expected. Near term support is at the up trend line and followed by 116.79, only break below 116.79 level will signal consolidation to the up trend.

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