Daily Market Comments - Friday 31 July 2009

[RTFX-Trading]

EUR-USD	Market should hold major support at 1.3984 before rising towards 1.4110 or even 1.4146 limit.
USD-CHF	Should test support at 1.0833 while below 1.0875. If support at 1.0833 holds it can rise up to 1.0925, if not it should fall to below 1.0792 zone.
GBP-USD	It should trade higher to 1.6567 while 1.6453 or 1.6417 offers support. Stop loss below 1.6381 zone.
USD-JPY	While below 95.7200 - 96.0167 it is more likely to fall further towards 95.1950 or 94.9667. Premature rise above 96.0167 could see it rising above 96.4733 zone.
USD-CAD	While below 1.0874 - 1.0896 it might drop to 1.0788 or 1.0743.
NZD-USD	One more dip to 0.6500 - < s1> is likely followed by a grind higher to 0.6546 - 0.6569. After which it can resume its downtrend.
AUD-USD	It looks set for gains to 0.8314. Supports at 0.8200 and 0.8171. A break of 0.8086 will damage this bullish structure.
EUR-JPY	Currently uptrend should end around 134.7000 - 135.1966 area. A correction down to 133.8550 - 133.5067 is expected. A rise above 135.8933 will abort the expected correction.
EUR-CHF	Current rise should end around 1.5323 or 1.5343. Objectives of this downmove are 1.5267 or 1.5226. A rise above 1.5378 is again bullish.
EUR-GBP	One more dip to 0.8518 - < s1> is likely followed by a grind higher to 0.8558 - 0.8577. After which it can resume its downtrend.
GBP-CHF	While below 1.7982 - 1.8048 it is more likely to fall further towards 1.7861 or 1.7806. Premature rise above 1.8048 could see it rising above 1.8159 zone.
GBP-JPY	Current rise seems to be over near 157.8500 or 158.7133 for a retracement towards 156.9867 - 156.4400 area.
NZD-JPY	It should trade higher to 62.8167 or above 63.3033 in extention. Supports at 61.9200 and 61.6767. Stop loss below 61.0233 zone.
AUD-JPY	Currently uptrend should end around 79.1000 - 79.6733 area. A correction down to 78.1400 - 77.7533 is expected. A rise above 80.4467 will abort the expected correction.
XAG-USD	It may attempt a test higher to 13.5450 - 13.6333 after which weakness may set it to a drift down to below 13.3133 limit.
XAU-USD	It looks set for gains to 938.1933. Supports at 931.6250 and 929.7533. A break of 925.0566 will damage this bullish structure.

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