Daily Market Comments - Tuesday 21 July 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4261 or 1.4287 if support around 1.4193 hold. After which a pullback to 1.4193 - 1.4165 zone is possible.
USD-CHF	Market should not go lower than 1.0668 - 1.0633. After this move down it should go up to 1.0726 - 1.0749 area.
GBP-USD	It should trade higher to 1.6628 while 1.6476 or 1.6436 offers support. Stop loss below 1.6395 zone.
USD-JPY	There are initial signs of a good corrective recovery towards 94.4850 or even 94.6033. Supports at 94.1600 and 93.9533 zone.
EUR-JPY	While below 134.4000 - 134.9233 it is more likely to fall further towards 133.4350 or 132.9933. Premature rise above 134.9233 could see it rising above 135.8067 zone.
EUR-CHF	Our preferred view is for a drift down to 1.5180 or below 1.5161. Resistances is at 1.5190. A rise above 1.5221 would delay but not abort this expected fall.
EUR-GBP	It looks more likely that it would rise to 0.8636 - 0.8671 from 0.8598 or 0.8580. After which a downside move is expected.
USD-CAD	Current fall is near an end of wave around 1.1001 zone, a rally should then procede to above 1.1141. Fall below 1.0940 would cancel this scenario.
NZD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.6601 or 0.6623 if support around 0.6532 hold. After which a pullback to 0.6532 - 0.6508 zone is possible.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8191 or 0.8223 if support around 0.8118 hold. After which a pullback to 0.8118 - 0.8089 zone is possible.
XAG-USD	While below 13.7100 - 13.8200 it is more likely to fall further towards 13.5200 or 13.4400. Premature rise above 13.8200 could see it rising above 13.9800 zone.
XAU-USD	Strength can extend to 952.0901 or even higher than 957.1201 as declines are expected to find support at 942.9250 or 938.7901. A fall below 928.7300 could turn it bearish.

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

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.