Monthly Market Comments - Monday 03 August 2009

[RTFX-Trading]

EUR-USD	Corrective dips should ideally halt near 1.4043 or 1.3955 for one more thrust upwards towards 1.4278 - 1.4426 area or 1.4601 in extention. Fall below 1.3659 puts it back on a downward path.
USD-CHF	While above 1.0655 - 1.0555 zone a corrective dip could test 1.0756 or 1.0887. After which it should resume his downtrend.
GBP-USD	It should try higher up to 1.6718 - 1.6963. Entry point 1.6473 or 1.6344. After this rise, a correction is expected.
USD-JPY	It should trade higher to above 97.1533 while 93.1800 - 91.9133 offer support. Stop Loss below 89.2067 zone.
USD-CAD	There is bearish potential for a fall to 1.0761 - 1.0441 while 1.1082 - 1.1249 resist. After this fall a recovery up to 1.1249 or 1.1415 is expected.
NZD-USD	Corrective dips should ideally halt near 0.6408 or 0.6333 for one more thrust upwards towards 0.6627 - 0.6771 area or 0.6921 in extention. Fall below 0.6045 puts it back on a downward path.
AUD-USD	Corrective dips should ideally halt near 0.8033 or 0.7923 for one more thrust upwards towards 0.8365 - 0.8586 area or 0.8807 in extention. Fall below 0.7481 puts it back on a downward path.
EUR-JPY	Market should hold major support at 128.9400 before rising towards 138.8333 or even 142.8066 limit.
EUR-CHF	Strength can extend to 1.5288 or even 1.5348 as declines are expected to find support at 1.5229 or 1.5171. Stop Loss below 1.5112 zone.
EUR-GBP	null
GBP-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.7945 or 1.8123 if support around 1.7757 hold. After which a pullback to 1.7757 - 1.7622 zone is possible.
GBP-JPY	It should trade higher to above 163.1000 while 152.4200 - 149.9000 offer support. Stop Loss below 141.7400 zone.
NZD-JPY	It may attempt a test higher to 62.8700 - after which weakness may set it to a drift down to 58.6600 limit.
AUD-JPY	It may attempt a test higher to 79.3400 - 82.1967 after which weakness may set it to a drift down to below 73.4267 limit.
XAG-USD	It should try higher up to 14.0250 - 14.5467. Entry point 13.5033 or 13.2000. After this rise, a correction is expected.
XAU-USD	It should test 990.1001 area after which a sell off down to 918.0732 or extended to 884.7266 area is expected.

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

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