Daily Market Comments - Tuesday 28 July 2009

[RTFX-Trading]

EUR-USD	There are initial signs of a good corrective recovery to at least 1.4265 or even above 1.4295. Supports at 1.4169 zone.
USD-CHF	It should test 1.0732 area after which a sell off down to 1.0662 or extended to 1.0575 area is expected.
GBP-USD	Corrective dips should ideally halt near 1.6436 or 1.6407 for one more thrust upwards towards 1.6507 - 1.6549 area or 1.6607 in extention. Fall below 1.6323 puts it back on a downward path.
USD-JPY	Current upmove should end around 95.3328 - 95.4800 area. A correction down to 94.7800 or even 94.3800 is expected. A rise above 95.7800 will abort the expected correction.
USD-CAD	It looks set to visit further lower territory down to around 1.0795 - 1.0767. Its corrective attempts should fail ahead of 1.0795 - 1.0868. Stop loss above 1.0924 zone.
NZD-USD	While below 0.6567 - 0.6571 it could fall towards below 0.6486. Rise above 0.6591 could activate some bullish pattern.
AUD-USD	Current upmove should be ended around 0.8243 - 0.8276. Any correction consolidation should find support in 0.8187 - 0.8162 zone.
EUR-JPY	Current upmove should be ended around 135.7850 - 136.2933. Any correction consolidation should find support in 134.8650 - 134.4533 zone.
EUR-CHF	Current rise should end around 1.5245 or 1.5254. Objectives of this downmove are 1.5221 or 1.5203. A rise above 1.5269 is again bullish.
EUR-GBP	There are initial signs of a good corrective recovery towards 0.8659 or even 0.8674. Supports at 0.8623 and 0.8602 zone.
GBP-CHF	It should trade higher to 1.7722 or above 1.7788 in extention. Supports at 1.7603 and 1.7570. Stop loss below 1.7484 zone.
GBP-JPY	It should try higher up to 157.2050 - 157.8800. Entry point 156.5300 or 156.0500. After this rise, a correction is expected.
NZD-JPY	Current upmove should be ended around 62.7250 - 63.0067. Any correction consolidation should find support in 62.2000 - 61.9567 zone.
AUD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 78.9199 or 78.9000 if support around 78.0400 hold. After which a pullback to 78.0400 - 77.7450 zone is possible.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 14.1367 or 14.1800 if support around 13.9700 hold. After which a pullback to 13.9700 - 13.9000 zone is possible.
XAU-USD	Strength can extend to 956.4150 or even 959.2201 as declines are expected to find support at 953.6100 or 950.9250. Stop Loss below 948.2401 zone.

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