Daily Market Comments - Monday 18 May 2009

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.3476 - 1.3418. After this move down it should go up to 1.3570 - 1.3606 area.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.1287 or 1.1299 if support around 1.1169 hold. After which a pullback to 1.1169 - 1.1129 zone is possible.
GBP-USD	Current move should be supported in 1.5150 - 1.5105 zone for a rise to 1.5259. A break below 1.5042 opens the way down.
USD-JPY	There is bearish potential for a fall to 94.9250 - 94.5067 while 95.3433 - 95.6500 resist. After this fall a recovery up to 95.6500 or 95.9567 is expected.
EUR-JPY	There is bearish potential for a fall to 128.1350 - 127.1266 while 129.1433 - 129.7350 resist. After this fall a recovery up to 129.7350 or 130.3267 is expected.
EUR-CHF	It should trade higher to 1.5186 while 1.5097 or 1.5072 offers support. Stop loss below 1.5047 zone.
EUR-GBP	Market should pop up towards 0.8928 or 0.8944 this bullish scenario would be damaged if 0.8887 - 0.8862 zone is broken, a severe break down could then occur.
USD-CAD	It should try higher up to 1.1799 - 1.1850. Entry point 1.1749 or 1.1721. After this rise, a correction is expected.
NZD-USD	Market should not go lower than 0.5848 - 0.5807. After this move down it should go up to 0.5917 - 0.5944 area.
AUD-USD	null
XAG-USD	While above 13.9350 - 13.8500 zone a corrective dip could test 14.0200 or 14.1800. After which it should resume his downtrend.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 933.7141 or 935.7866 if support around 929.8933 hold. After which a pullback to 929.8933 - 927.7450 zone is possible.

Trading Desk, RTFX Ltd
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Tel: +356 27 78 01 35 | Fax: +356 21 41 24 58

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