Daily Market Comments - Wednesday 03 June 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4337 or 1.4389 if support around 1.4245 hold. After which a pullback to 1.4245 - 1.4202 zone is possible.
USD-CHF	There is bearish potential for a fall to 1.0603 - 1.0557 while 1.0650 - 1.0680 resist. After this fall a recovery up to 1.0680 or 1.0710 is expected.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6709 or 1.6675 if support around 1.6500 hold. After which a pullback to 1.6500 - 1.6451 zone is possible.
USD-JPY	While below 96.2100 - 96.5033 it might drop to 95.1833 or 94.5967.
EUR-JPY	Current rise should end around 137.6900. Objectives of this downmove are 136.0200 or 135.0600. A rise above 138.4000 is again bullish.
EUR-CHF	Current rise seems to be over near 1.5190 or 1.5214 for a retracement towards 1.5167 - 1.5152 area.
EUR-GBP	One more dip to 0.8616 - < s1> is likely followed by a grind higher to 0.8665.
USD-CAD	It might hold above 1.0801 or around 1.0791 for a rise towards above 1.0925. Stop loss below 1.0744 zone.
NZD-USD	Currently uptrend should end around 0.6623 - 0.6624 area. A correction down to below 0.6476 is expected. A rise above 0.6683 will abort the expected correction.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8278 or 0.8276 if support around 0.8164 hold. After which a pullback to 0.8164 - 0.8130 zone is possible.
XAG-USD	It should try higher up to 15.9900 - 16.1633. Entry point 15.8167 or 15.7200. After this rise, a correction is expected.
XAU-USD	It should trade higher to 989.1634 while 975.6951 or 972.0134 offers support. Stop loss below 962.2267 zone.

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

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