Weekly Market Comments - Monday 10 August 2009

[RTFX-Trading]

EUR-USD	It looks more likely that it would rise to 1.4361 - 1.4550 from 1.4162 or 1.4068. After which a downside move is expected.
USD-CHF	It should trade lower to 1.0641. Resistances are at 1.0923 and 1.1025. A break of 1.1205 is bullish, confirmed by a close above 1.1055.
GBP-USD	There are initial signs of a good corrective recovery towards 1.6863 or even 1.6934. Supports at 1.6668 and 1.6543 zone.
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 98.3934 or 98.7333 if support around 96.5467 hold. After which a pullback to 96.5467 - 95.9300 zone is possible.
USD-CAD	It should trade higher to 1.0916 or above 1.1007 in extention. Supports at 1.0728 and 1.0683. Stop loss below 1.0541 zone.
NZD-USD	While below 0.6772 - 0.6831 it is more likely to fall further towards 0.6658 or 0.6603. Premature rise above 0.6831 could see it rising above 0.6940 zone.
AUD-USD	Should fall around 0.8307 while below 0.8356 - 0.8413 zone. Then a recovery up to above 0.8413 is expected.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 139.6599 or 139.7400 if support around 137.1600 hold. After which a pullback to 137.1600 - 136.3800 zone is possible.
EUR-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5391 or 1.5386 if support around 1.5306 hold. After which a pullback to 1.5306 - 1.5282 zone is possible.
EUR-GBP	Current fall is near an end of wave around 0.8434 zone, a rally should then procede to above 0.8573. Fall below 0.8375 would cancel this scenario.
GBP-CHF	Currently uptrend should end around 1.8263 - 1.8169 area. A correction down to below 1.7865 is expected. A rise above 1.8282 will abort the expected correction.
GBP-JPY	Currently uptrend should end around 166.2701 - 164.4834 area. A correction down to below 159.5034 is expected. A rise above 166.2767 will abort the expected correction.
NZD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 66.8899 or 66.7500 if support around 64.5900 hold. After which a pullback to 64.5900 - 63.9850 zone is possible.
AUD-JPY	While below 81.6950 - 82.5933 it is more likely to fall further towards 80.2350 or 79.6733. Premature rise above 82.5933 could see it rising above 83.7167 zone.
XAG-USD	While below 14.8250 - 15.1333 it is more likely to fall further towards 14.2500 or 13.9833. Premature rise above 15.1333 could see it rising above 15.6667 zone.
XAU-USD	Resistances lie around 963.6000 and 967.7200. It should test lower towards 947.1100 zone. A clear break of 942.9598 would be bearish.

Trading Desk, RTFX Ltd
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