Short Term Analysis - October 18, 2007

AUDUSD
AUDUSD is forming a short term cycle bottom at 0.8815. Sideways consolidation in a range between 0.8794 and 0.9077 will more likely be seen in the next several days. Key resistance is at 0.9077, a break above this level will signal the resumption of the up trend, and further rise towards 0.9200 is expected to follow.

USDJPY
USDJPY formed a short term cycle top at 117.93. Further fall towards 114.00 area to reach the next cycle bottom is still possible in the next several days. Near term resistance is at 117.93, only rise above this level will signal the resumption of the up trend.

GBPUSD
GBPUSD is in sideways consolidation to the up trend, further fall towards 2.0200 area to reach the next short term cycle bottom 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.

USDCHF
USDCHF topped at 1.1891 on 4 hours chart, and pullback towards 1.1622 previous low can be seen in the next several days. Near term resistance is at 1.1891 previous high, only rise above this level will signal the resumption of the up trend.

EURUSD
EURUSD traded in a narrow range between 1.4143 and 1.4242, a break above 1.4242 level will signal the resumption of the up trend, and further rise towards 1.4500 area can be seen. Near term support is at 1.4143, break below this will indicate lengthier consolidation to the up trend.

USDCAD
USDCAD is in down trend, further fall towards 0.9600 is still possible in the next several days. Near term resistance is at 0.9820 and followed by 0.9894, only rise above 0.9894 level will signal consolidation to the up down trend.

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Short Term Analysis - October 18, 2007

AUDUSD
AUDUSD is forming a short term cycle bottom at 0.8815. Sideways consolidation in a range between 0.8794 and 0.9077 will more likely be seen in the next several days. Key resistance is at 0.9077, a break above this level will signal the resumption of the up trend, and further rise towards 0.9200 is expected to follow.

USDJPY
USDJPY formed a short term cycle top at 117.93. Further fall towards 114.00 area to reach the next cycle bottom is still possible in the next several days. Near term resistance is at 117.93, only rise above this level will signal the resumption of the up trend.

GBPUSD
GBPUSD is in sideways consolidation to the up trend, further fall towards 2.0200 area to reach the next short term cycle bottom 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.

USDCHF
USDCHF topped at 1.1891 on 4 hours chart, and pullback towards 1.1622 previous low can be seen in the next several days. Near term resistance is at 1.1891 previous high, only rise above this level will signal the resumption of the up trend.

EURUSD
EURUSD traded in a narrow range between 1.4143 and 1.4242, a break above 1.4242 level will signal the resumption of the up trend, and further rise towards 1.4500 area can be seen. Near term support is at 1.4143, break below this will indicate lengthier consolidation to the up trend.

USDCAD
USDCAD is in down trend, further fall towards 0.9600 is still possible in the next several days. Near term resistance is at 0.9820 and followed by 0.9894, only rise above 0.9894 level will signal consolidation to the up down trend.

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Short Term Analysis - October 17, 2007

USDCHF is topping at 1.1891 on daily chart. Pullback towards 1.1622 previous low is expected, and a break below this level will signal the resumption of the down trend. Near term resistance is at 1.1891, if gives way, rise towards 1.1950 can be seen. For long term analysis, USDCHF is in long term bearish movement, fall towards 1.1287 (2004 low) to reach the next cycle bottom on weekly chart is expected.

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Short Term Analysis - October 16, 2007

USDJPY
USDJPY is forming a short term cycle top at 117.93 on 4 hours chart, fall towards 116.00 is expected, and a break below the trend line support will confirm such case. Near term resistance is at 117.93, if gives way, further rise towards 118.50 can be seen.

GBPUSD
GBPUSD is in sideways consolidation to the up trend, 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.

USDCHF
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.

AUDUSD
AUDUSD might be topping at 0.9077 on 4 hours chart, consolidation will more likely be seen in the next several days, pullback towards 0.9794 previous low is expected, and a break below 0.8910 level will confirm such case.

EURUSD
EURUSD is in sideways consolidation in a range between 1.4014 and 1.4281. Pullback towards 1.4100 area is still possible in the next several days. Up trend will resume after consolidation and a break above 1.4281 level will signal the resumption of the up trend.

USDCAD
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.

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