Daily Market Comments - Friday 22 May 2009

[RTFX-Trading]

EUR-USD	Currently uptrend should end around 1.4008 - 1.3966 area. A correction down to below 1.3771 is expected. A rise above 1.4042 will abort the expected correction.
USD-CHF	Market should not go lower than 1.0926 - 1.0883. After this move down it should go up to 1.0996 - 1.1022 area.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5866 or 1.5982 if support around 1.5749 hold. After which a pullback to 1.5749 - 1.5677 zone is possible.
USD-JPY	Current fall is near an end of wave around 93.8400 zone, a rally should then procede to above 95.1200. Fall below 93.2700 would cancel this scenario.
EUR-JPY	If market stays below 131.3250 a fall to 130.1700 is expected. If market breaks the point 131.8200 it could reach the sky.
EUR-CHF	Current upmove should be ended around 1.5203 - 1.5227. Any correction consolidation should find support in 1.5161 - 1.5144 zone.
EUR-GBP	While below 0.8820 - 0.8852 it might drop to 0.8705 or 0.8641.
USD-CAD	It should register further gains to 1.1457 while 1.1323 - 1.1268 caps downside attempts. Stop loss below 1.1189 zone.
NZD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.6115 or 0.6141 if support around 0.6079 hold. After which a pullback to 0.6079 - 0.6063 zone is possible.
AUD-USD	It may attempt a test higher to 0.7788 - after which weakness may set it to a drift down to 0.7704 limit.
XAG-USD	It should try higher up to 14.5450 - 14.6967. Entry point 14.3933 or 14.3100. After this rise, a correction is expected.
XAU-USD	Current upmove should be ended around 955.0349 - 961.2965. Any correction consolidation should find support in 944.9349 - 941.0965 zone.

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