Monthly Market Comments - Wednesday 01 July 2009

[RTFX-Trading]

EUR-USD	There are initial signs of a good corrective recovery towards 1.4185 or even 1.4331. Supports at 1.3890 and 1.3741 zone.
USD-CHF	It should test 1.0976 area after which a sell off down to 1.0629 or extended to 1.0394 area is expected.
GBP-USD	One move lower to 1.5926 or 1.5393 is anticipated while below 1.6602 - 1.6868 area. Stop loss above 1.7277 zone.
USD-JPY	null
EUR-JPY	While below 135.2100 or 135.2867 it could fall towards below 131.3533 or 127.4967. After which a corrective/consolidation activity is expected to 137.2150 zone.
EUR-CHF	Current upmove should be ended around 1.5313 - 1.5416. Any correction consolidation should find support in 1.5126 - 1.5041 zone.
EUR-GBP	It looks set to visit further lower territory down to around 0.8462 - 0.8327. Its corrective attempts should fail ahead of 0.8462 - 0.8795. Stop loss above 0.9066 zone.
USD-CAD	It should trade higher to 1.1914 or above 1.2204 in extention. Supports at 1.1204 and 1.1059. Stop loss below 1.0494 zone.
NZD-USD	One move lower to 0.6209 or 0.5960 is anticipated while below 0.6525 - 0.6650 area. Stop loss above 0.6842 zone.
AUD-USD	One move lower to 0.7814 or 0.7564 is anticipated while below 0.8164 - 0.8289 area. Stop loss above 0.8514 zone.
XAG-USD	There are initial signs of a good corrective recovery towards 14.9250 or even 15.4067. Supports at 13.5400 and 12.6367 zone.
XAU-USD	It looks more likely that it would rise to 973.4366 - 1020.3734 from 919.8650 or 896.3966. After which a downside move is expected.

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

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