Daily Market Comments - Monday 03 August 2009

[RTFX-Trading]

EUR-USD	Current rise seems to be over near 1.4265 or 1.4333 for a retracement towards 1.4198 - 1.4158 area.
USD-CHF	Market should not go lower than 1.0673 - 1.0600. After this move down it should go up to 1.0789 - 1.0832 area.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6859 or 1.6799 if support around 1.6637 hold. After which a pullback to 1.6637 - 1.6589 zone is possible.
USD-JPY	There is bearish potential for a fall to 94.1400 while 94.9800 - 95.2200 resist. After this fall a recovery up to 95.2200 or 95.4600 is expected.
USD-CAD	Market should not go lower than 1.0726. After this move down it should go up to 1.0815 - 1.0832 area.
NZD-USD	It should trade higher to 0.6660 while 0.6587 or 0.6567 offers support. Stop loss below 0.6546 zone.
AUD-USD	Currently uptrend should end around 0.8437 - 0.8408 area. A correction down to below 0.8279 is expected. A rise above 0.8451 will abort the expected correction.
EUR-JPY	Resistances lie around 135.2200 and 135.5300. It should test lower towards 134.2400 zone. A clear break of 134.7100 would be bearish.
EUR-CHF	There is bearish potential for a fall to 1.5181 while 1.5263 - 1.5289 resist. After this fall a recovery up to 1.5289 or 1.5314 is expected.
EUR-GBP	It should register further gains to 0.8565 while 0.8504 - 0.8477 caps downside attempts. Stop loss below 0.8443 zone.
GBP-CHF	It looks more likely that it would rise to 1.7983 - 1.8112 from 1.7827 or 1.7763. After which a downside move is expected.
GBP-JPY	While below 158.3300 - 158.7933 it is more likely to fall further towards 157.5000 or 157.1333. Premature rise above 158.7933 could see it rising above 159.5267 zone.
NZD-JPY	While below 62.9967 it is more likely to fall further towards 62.6033 or 62.4250 level.
AUD-JPY	One move lower to 78.6133 or 78.0867 is anticipated while below 79.3400 - 79.6033 area. Stop loss above 80.0667 zone.
XAG-USD	Current rise seems to be over near 13.9600 or 14.1500 for a retracement towards 13.7700 - 13.6650 area.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 963.7911 or 961.3367 if support around 946.9833 hold. After which a pullback to 946.9833 - 942.0250 zone is possible.

Trading Desk, RTFX Ltd
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