Wednesday, October 26, 2005

Short-term Outlook

EUR/USD (1.2078)
Trend: Up
Current position: Neutral
Euro eases from two-week highs of 1.2139 against dollar. Look to sell if support fails to hold at 1.2044.

GBP/USD (1.7743)
Trend: Up
Current position: Short
Sterling retreated from a one-month high of 1.7867 against the dollar. Stay short from 1.7754.

USD/CHF (1.2825)
Trend: Down
Current position: Neutral
It fell to as low as 1.2742 earlier. Look set to buy if resistance level of 1.2835 is breached.

USD/JPY (115.87)
Trend: Up
Current position: Neutral
The yen rose against the dollar after a government report showed Japan's trade surplus shrank less than expected in September. Stay neutral for now.

AUS/USD (0.7531)
Trend: Up
Current position: Short
Stay short from 0.7530.

USD/CAD (1.1716)
Trend: Down
Current position: Neutral
The loonie consolidated further on economy and interest rates outlook. Stay neutral for now.

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