Weekly Market Comments - Monday 03 August 2009

[RTFX-Trading]

EUR-USD	Corrective dips should ideally halt near 1.4129 or 1.4071 for one more thrust upwards towards 1.4278 - 1.4368 area or 1.4485 in extention. Fall below 1.3891 puts it back on a downward path.
USD-CHF	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.0934 or under 1.0654 limits.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6792 or 1.6844 if support around 1.6592 hold. After which a pullback to 1.6592 - 1.6522 zone is possible.
USD-JPY	It looks more likely that it would rise to 95.6600 - 96.7000 from 94.3200 or 93.8000. After which a downside move is expected.
USD-CAD	It may meet resistance in 1.0773 - 1.0819 zone for a drift down to 1.0704 zone, after which bounce to 1.0888 is anticipated.
NZD-USD	Currently uptrend should end around 0.6659 - 0.6677 area. A correction down to below 0.6520 is expected. A rise above 0.6734 will abort the expected correction.
AUD-USD	Currently uptrend should end around 0.8489 - 0.8445 area. A correction down to below 0.8205 is expected. A rise above 0.8525 will abort the expected correction.
EUR-JPY	Uptrend is still intact. It should continue to rally to 137.9000 or 139.7000 if supports at 134.5800 - 133.8200 area hold. Stop loss below 133.0600.
EUR-CHF	Resistances lie around 1.5289 and 1.5314. It should test lower towards 1.5181 zone. A clear break of 1.5134 would be bearish.
EUR-GBP	Market should not go lower than 0.8518 - 0.8462. After this move down it should go up to 0.8609 - 0.8644 area.
GBP-CHF	While below 1.7940 - 1.8070 it is more likely to fall further towards 1.7592 or 1.7332.
GBP-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 158.5800 or 159.8133 if support around 156.8467 hold. After which a pullback to 156.8467 - 155.9700 zone is possible.
NZD-JPY	While below 62.8700 - 63.3433 it is more likely to fall further towards 62.0450 or 61.6933. Premature rise above 63.3433 could see it rising above 64.0467 zone.
AUD-JPY	Current upmove should end around 80.7433 - 80.1700 area. A correction down to 77.4800 or even 75.8200 is expected. A rise above 81.2000 will abort the expected correction.
XAG-USD	It should try higher up to 14.0250 - 14.3033. Entry point 13.7467 or 13.5650. After this rise, a correction is expected.
XAU-USD	Corrective dips should ideally halt near 938.6200 or 931.8334 for one more thrust upwards towards 955.2000 - 964.9933 area or 978.5667 in extention. Fall below 912.2467 puts it back on a downward path.

Trading Desk, RTFX Ltd
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