Daily Market Comments - Wednesday 05 August 2009

[RTFX-Trading]

EUR-USD	Supports at 1.4387 and 1.4373 should hold the downward correction . After which a big upmove could occur . Stop loss below 1.4373 limit.
USD-CHF	One more dip to 1.0588 - < s1> is likely followed by a grind higher to 1.0638.
GBP-USD	Should fall around 1.6884 while below 1.6939 - 1.6971 zone. Then a recovery up to above 1.6971 is expected.
USD-JPY	It looks set for gains to 95.6733. Supports at 94.7950 and 94.5733. A break of 93.9167 will damage this bullish structure.
USD-CAD	Corrective dips should ideally halt near 1.0679 or 1.0651 for one more thrust upwards towards 1.0745 - 1.0783 area or 1.0840 in extention. Fall below 1.0576 puts it back on a downward path.
NZD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.6771 or 0.6774 if support around 0.6710 hold. After which a pullback to 0.6710 - 0.6691 zone is possible.
AUD-USD	Current rise should end around 0.8481. Objectives of this downmove are 0.8396 or 0.8348. A rise above 0.8518 is again bullish.
EUR-JPY	Current upmove should continue to 137.9400 or 138.6700. Any correction should find support in 136.9600 - 136.5950 zone. A break above 137.9667 could accelerate the move up.
EUR-CHF	Our preferred view is for a drift down to 1.5246 or below 1.5221. Resistances is at 1.5238. A rise above 1.5307 would delay but not abort this expected fall.
EUR-GBP	While below 0.8516 it is more likely to fall further towards 0.8482 level.
GBP-CHF	Preferred view is for a fall to 1.7934 - 1.7900 while 1.7996 - 1.8023 area resists. A clear break of 1.8091 would be bullish.
GBP-JPY	While below 161.7500 - 162.3167 it is more likely to fall further towards 160.6800 or 160.1767. Premature rise above 162.3167 could see it rising above 163.3233 zone.
NZD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 64.3968 or 64.6400 if support around 63.7900 hold. After which a pullback to 63.7900 - 63.5500 zone is possible.
AUD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 80.7399 or 81.0367 if support around 80.1933 hold. After which a pullback to 80.1933 - 79.8800 zone is possible.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 14.8867 or 14.9100 if support around 14.4800 hold. After which a pullback to 14.4800 - 14.3350 zone is possible.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 971.6278 or 974.3733 if support around 962.8066 hold. After which a pullback to 962.8066 - 959.0649 zone is possible.

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

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