Daily Market Comments - Monday 27 July 2009

[RTFX-Trading]

EUR-USD	It should find support in 1.4175 - 1.4149 area for a rally to 1.4319. Unexpected fall below 1.4083 will dent this bullish view.
USD-CHF	While above 1.0693 - 1.0669 zone a corrective upmove could test 1.0737 or 1.0757. After which it should resume its downtrend.
GBP-USD	null
USD-JPY	A corrective rise should ideally test 95.0833 or even higher than 95.4167. Supports are at 94.4900. Stop loss below 94.2567 zone.
USD-CAD	Current fall is near an end of wave around 1.0775 zone, a rally should then procede to above 1.0904. Fall below 1.0720 would cancel this scenario.
NZD-USD	It should see a sell off to below 0.6531 while 0.6572 area curtails its upside. A break beyond 0.6586 will abort the downside.
AUD-USD	Current upmove should end around 0.8181 - 0.8199 area. A correction down to 0.8129 or even 0.8089 is expected. A rise above 0.8229 will abort the expected correction.
EUR-JPY	While below 134.9400 - 135.3033 it is more likely to fall further towards 134.2700 or 133.9633. Premature rise above 135.3033 could see it rising above 135.9167 zone.
EUR-CHF	Current rise should end around 1.5236 or 1.5248. Objectives of this downmove are 1.5200 or 1.5175. A rise above 1.5271 is again bullish.
EUR-GBP	Currently uptrend should end around 0.8663 - 0.8694 area. A correction down to 0.8612 - 0.8592 is expected. A rise above 0.8735 will abort the expected correction.
GBP-CHF	While below 1.7677 - 1.7722 it might drop to 1.7506 or 1.7416.
GBP-JPY	There are initial signs of a good corrective recovery towards 156.4450 or even 156.8000. Supports at 155.5300 and 154.9700 zone.
NZD-JPY	Preferred view is for a fall to 62.0150 - 61.8533 while 62.3200 - 62.4633 area resists. A clear break of 62.7867 would be bullish.
AUD-JPY	While below 77.5550 - 77.7633 it is more likely to fall further towards 77.1650 or 76.9833. Premature rise above 77.7633 could see it rising above 78.1267 zone.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 13.9233 or 13.9767 if support around 13.8233 hold. After which a pullback to 13.8233 - 13.7800 zone is possible.
XAU-USD	It should trade higher to 955.1700 while 949.2950 or 947.6201 offers support. Stop loss below 943.4200 zone.

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