Daily Market Comments - Tuesday 14 July 2009

[RTFX-Trading]

EUR-USD	Market should hold major support at 1.3912 before rising towards 1.4020 or even 1.4062 limit.
USD-CHF	There are initial signs of a good corrective recovery towards 1.0860 or even 1.0877. Supports at 1.0819 and 1.0795 zone.
GBP-USD	It should test 1.6409 area after which a sell off down to 1.6094 or extended to 1.5960 area is expected.
USD-JPY	It should trade higher to 93.4067 or above 93.8633 in extention. Supports at 92.3450 and 92.1167. Stop loss below 91.2833 zone.
EUR-JPY	It may attempt a test higher to 130.0900 - 130.7900 after which weakness may set it to a drift down to below 128.5700 limit.
EUR-CHF	Preferred outlook is for a drift down to below 1.5104. Resistances are at 1.5137 and 1.5139. A rise above 1.5147 would delay but not abort this expected fall.
EUR-GBP	Resistances lie around 0.8656 and 0.8672. It should test lower towards 0.8581 zone. A clear break of 0.8532 would be bearish.
USD-CAD	Market should not go lower than 1.1504 - 1.1448. After this move down it should go up to 1.1588 - 1.1615 area.
NZD-USD	It should trade higher to 0.6373 or above 0.6421 in extention. Supports at 0.6260 and 0.6236. Stop loss below 0.6147 zone.
AUD-USD	Market should hold major support at 0.7742 before rising towards 0.7878 or even 0.7923 limit.
XAG-USD	Structure suggests that it could fall to 12.5867 while below 12.8550 area. A rise above 12.9867 is bullish.
XAU-USD	Currently uptrend should end around 921.9000 - 926.5400 area. A correction down to 914.1400 - 911.0200 is expected. A rise above 932.7800 will abort the expected correction.

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