As expected USDCHF fall below 1.1919 previous low support more sharply fall towards 1.1800 is still possible after a slightly rebound to the down trend line. Near term resistance is at 1.2115 as long as this resistance holds down trend will continue.
No change in our view EURUSD stays in the rising price channel the bias remains bullish. Further rise towards 1.3400 level can be expected later today. Near term support comes at 1.3219 as long as this support holds up trend will continue. http://blog.forexcycle.com/372/short...cember-5-2006/
GBPUSD is in correction to the up trend further fall to test the near term support at 1.9634 is still possible later today this support would more likely be held. Near term resistance is at 1.9846 a break above this level may signal the resumption of the up trend.
USDJPY is in down trend fall below 114.41 is possible later today. Near term resistance is at the down trend line followed by 115.82 only break above 118.82 can signal the reversal to the down trend.
USDJPY is testing the resistance of the down trend line. The p may be bottoming at 114.41 on 4 hours chart key resistance is now at 115.36 a break above this level may confirm the cycle bottom further rise towards 116.00 to reach the next cycle top can be expected. http://blog.forexcycle.com/375/short...cember-8-2006/
USDJPY is moving higher to test the price channel resistance at 117.00 down trend would resume after touching this level. On the other side if 117.00 gives way more sharply rise towards 117.50 can be expected.
GBPUSD rebound 1.9463 slightly above 38.2% retracement of 1.8834 to 1.9046. The p may be bottoming on 4 hours chart key resistance is at 1.9728 a break above this level may confirm the cycle bottom. http://www.forexcycle.com/gbpusd.html
GBPUSD is testing the key resistance at 1.9728 a break above this level may label the cycle bottom at 1.9463 on 4 hours chart further rise above 1.9846 previous high is possible in the next several days.
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