Daily Market Comments - Friday 17 July 2009

[RTFX-Trading]

EUR-USD	Currently uptrend should end around 1.4221 - 1.4191 area. A correction down to below 1.4080 is expected. A rise above 1.4234 will abort the expected correction.
USD-CHF	It may meet resistance in 1.0730 - 1.0741 zone for a drift down to 1.0692 zone, after which bounce to 1.0779 is anticipated.
GBP-USD	Current rise should end around 1.6494. Objectives of this downmove are 1.6370 or 1.6300. A rise above 1.6548 is again bullish.
USD-JPY	Corrective dips should ideally halt near 93.6000 or 93.3200 for one more thrust upwards towards 94.1800 - 94.4800 area or 95.0400 in extention. Fall below 92.7200 puts it back on a downward path.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 133.3900 or 133.5367 if support around 132.5633 hold. After which a pullback to 132.5633 - 132.2450 zone is possible.
EUR-CHF	Market should hold major support at 1.5156 before rising towards 1.5198 or even 1.5215 limit.
EUR-GBP	Currently uptrend should end around 0.8620 - 0.8619 area. A correction down to below 0.8586 is expected. A rise above 0.8631 will abort the expected correction.
USD-CAD	One more dip to 1.1147 - < s1> is likely followed by a grind higher to 1.1222.
NZD-USD	It should try higher up to 0.6495 - 0.6530. Entry point 0.6459 or 0.6437. After this rise, a correction is expected.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8081 or 0.8103 if support around 0.8032 hold. After which a pullback to 0.8032 - 0.8011 zone is possible.
XAG-USD	One move lower to 13.1967 or 13.0833 is anticipated while below 13.3300 - 13.3867 area. Stop loss above 13.4633 zone.
XAU-USD	Strength can extend to 940.9467 or even higher than 948.6367 as declines are expected to find support at 935.0850. A fall below 933.2567 could turn it bearish.

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