Daily Market Comments - Monday 13 July 2009

[RTFX-Trading]

EUR-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.3989 or under 1.3913 limits.
USD-CHF	A drift down to 1.0777 - 1.0705 from 1.0848 - 1.0886 area could be followed by a consolidation/corrective activity.
GBP-USD	It looks more likely that it would rise to 1.6317 - 1.6427 from 1.6181 or 1.6126. After which a downside move is expected.
USD-JPY	It is likely to fall towards 91.7400 - 91.0700 unless a corrective rally breaks the 92.7950 resistance. Stop above 93.1300 zone.
EUR-JPY	It looks set to visit further lower territory down to around 128.3550 - 127.6033. Its corrective attempts should fail ahead of 128.3550 - 130.4033. Stop loss above 131.9067 zone.
EUR-CHF	Our preferred outlook is for a drift down to 1.5109 or below 1.5087. Resistances are at 1.5132 and 1.5139. A rise above 1.5161 would delay but not abort this expected fall.
EUR-GBP	It should test 0.8655 area after which a sell off down to 0.8553 or extended to 0.8501 area is expected.
USD-CAD	Corrective dips should ideally halt near 1.1622 or 1.1604 for one more thrust upwards towards 1.1660 - 1.1681 area or 1.1716 in extention. Fall below 1.1562 puts it back on a downward path.
NZD-USD	It looks more likely that it would rise to 0.6326 - 0.6377 from 0.6255 or 0.6229. After which a downside move is expected.
AUD-USD	null
XAG-USD	It is likely to fall towards 12.5100 - 12.3400 unless a corrective rally breaks the 12.7950 resistance. Stop above 12.8800 zone.
XAU-USD	It should trade lower to 908.0599. Resistances are at 916.4600 and 920.1800. A break of 924.8600 is bullish, confirmed by a close above 915.6200.

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

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