Daily Market Comments - Thursday 06 August 2009

[RTFX-Trading]

EUR-USD	Corrective dips should ideally halt near 1.4380 or 1.4358 for one more thrust upwards towards 1.4425 - 1.4449 area or 1.4493 in extention. Fall below 1.4311 puts it back on a downward path.
USD-CHF	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.0660 or under 1.0585 limits.
GBP-USD	A correction down to 1.6912 or lower is now expected from 1.7016 or 1.7054. A break above 1.7119 is needed to turn bullish.
USD-JPY	One more dip to 94.7950 or 94.5966 is likely followed by a grind higher to 95.1750 - 95.3567. After which it can resume its downtrend.
USD-CAD	There are initial signs of a good corrective recovery towards 1.0745 or even 1.0767. Supports at 1.0692 and 1.0662 zone.
NZD-USD	There are initial signs of a good corrective recovery towards 0.6745 or even 0.6758. Supports at 0.6718 and 0.6703 zone.
AUD-USD	It is likely to fall towards 0.8384 - 0.8360 as its corrective rally could falter in 0.8431 - 0.8454 area. Stop above 0.8502 zone.
EUR-JPY	null
EUR-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5313 or 1.5322 if support around 1.5290 hold. After which a pullback to 1.5290 - 1.5277 zone is possible.
EUR-GBP	One more dip to 0.8469 - < s1> is likely followed by a grind higher to 0.8496 - 0.8507. After which it can resume its downtrend.
GBP-CHF	Current upmove should be ended around 1.8066 - 1.8111. Any correction consolidation should find support in 1.7987 - 1.7952 zone.
GBP-JPY	It looks more likely that it would rise to 162.3800 - 163.4300 from 160.8850 or 160.3600. After which a downside move is expected.
NZD-JPY	It looks more likely that it would rise to 64.3567 - 64.8133 from 63.7750 or 63.5467. After which a downside move is expected.
AUD-JPY	It is likely to fall towards 79.5750 - 79.2367 as its corrective rally could falter in 80.2050 - 80.4967 area. Stop above 81.1733 zone.
XAG-USD	Should test support at 14.5533 while below 14.7000. If support at 14.5533 holds it can rise up to 14.8533, if not it should fall to below 14.4067 zone.
XAU-USD	It looks more likely that it would rise to 968.1000 - 972.7000 from 961.2800 or 958.9800. After which a downside move is expected.

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