Daily Market Comments - Wednesday 20 May 2009

[RTFX-Trading]

EUR-USD	Current rise should end around 1.3688. Objectives of this downmove are 1.3550 or 1.3471. A rise above 1.3747 is again bullish.
USD-CHF	Current fall is near an end of wave around 1.1055 zone, a rally should then procede to above 1.1148. Fall below 1.1016 would cancel this scenario.
GBP-USD	Current rise should end around 1.5568. Objectives of this downmove are 1.5341 or 1.5205. A rise above 1.5659 is again bullish.
USD-JPY	A corrective rise should ideally test 96.4767 or even higher than 96.9833. Supports are at 95.3000. Stop loss below 95.4033 zone.
EUR-JPY	Should test support at 130.0300 while below 130.8100. If support at 130.0300 holds it can rise up to 131.7200, if not it should fall to below 129.2500 zone.
EUR-CHF	Our preferred outlook is for a drift down to 1.5091 or below 1.5063. Resistances are at 1.5119 and 1.5129. A rise above 1.5157 would delay but not abort this expected fall.
EUR-GBP	Market should hold major support at 0.8735 before rising towards 0.8853 or even 0.8897 limit.
USD-CAD	It may meet resistance in 1.1557 - 1.1580 zone for a drift down to 1.1500 zone, after which bounce to 1.1638 is anticipated.
NZD-USD	While below 0.6039 - 0.6074 it is more likely to fall further towards 0.5976 or 0.5948. Premature rise above 0.6074 could see it rising above 0.6131 zone.
AUD-USD	One move lower to 0.7656 or 0.7565 is anticipated while below 0.7766 - 0.7811 area. Stop loss above 0.7875 zone.
XAG-USD	Current rise seems to be over near 14.2300 or 14.3967 for a retracement towards 14.0633 - 13.9500 area.
XAU-USD	If market stays below 927.1799 a fall to 918.6566 is expected. If market breaks the point 930.2966 it could reach the sky.

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