Daily Market Comments - Thursday 21 May 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3879 or 1.3878 if support around 1.3731 hold. After which a pullback to 1.3731 - 1.3681 zone is possible.
USD-CHF	Market should not go lower than 1.0985 - 1.0936. After this move down it should go up to 1.1065 - 1.1096 area.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5945 or 1.5881 if support around 1.5666 hold. After which a pullback to 1.5666 - 1.5601 zone is possible.
USD-JPY	Market should not go lower than 94.7850 - 94.3067. After this move down it should go up to 95.5500 - 95.8367 area.
EUR-JPY	It should trade higher to 131.7567 while 130.2550 or 129.7667 offers support. Stop loss below 128.7533 zone.
EUR-CHF	Current rise seems to be over near 1.5169 or 1.5192 for a retracement towards 1.5147 - 1.5130 area.
EUR-GBP	Market should not go lower than 0.8741 - 0.8705. After this move down it should go up to 0.8797 - 0.8817 area.
USD-CAD	One more dip to 1.1390 - < s1> is likely followed by a grind higher to 1.1501 - 1.1548. After which it can resume its downtrend.
NZD-USD	While below 0.6086 - 0.6118 it is more likely to fall further towards 0.6024 or 0.5994. Premature rise above 0.6118 could see it rising above 0.6178 zone.
AUD-USD	Strength can extend to 0.7811 as declines are expected to find support at 0.7718. A fall below 0.7688 could turn it bearish.
XAG-USD	One move lower to 14.1367 or 13.9733 is anticipated while below 14.3450 - 14.4267 area. Stop loss above 14.5533 zone.
XAU-USD	Current rise seems to be over near 939.6349 or 944.6966 for a retracement towards 934.5733 - 931.5000 area.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

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