Daily Market Comments - Monday 10 August 2009

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.4162 - 1.4079. After this move down it should go up to 1.4293 - 1.4339 area.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0853 or 1.0916 if support around 1.0750 hold. After which a pullback to 1.0750 - 1.0702 zone is possible.
GBP-USD	It may meet resistance in 1.6684 - 1.6724 zone for a drift down to 1.6612 zone, after which bounce to 1.6795 is anticipated.
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 98.3995 or 98.5000 if support around 96.7800 hold. After which a pullback to 96.7800 - 96.2800 zone is possible.
USD-CAD	While below 1.0845 - 1.0875 it is more likely to fall further towards 1.0790 or 1.0765. Premature rise above 1.0875 could see it rising above 1.0925 zone.
NZD-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 0.6821 or under 0.6689 limits.
AUD-USD	There is bearish potential for a fall to 0.8316 while 0.8385 - 0.8405 resist. After this fall a recovery up to 0.8405 or 0.8425 is expected.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 138.8133 or 139.0933 if support around 137.8067 hold. After which a pullback to 137.8067 - 137.3500 zone is possible.
EUR-CHF	It should try higher up to 1.5346 - 1.5381. Entry point 1.5311 or 1.5288. After this rise, a correction is expected.
EUR-GBP	There are initial signs of a good corrective recovery towards 0.8543 or even 0.8561. Supports at 0.8492 and 0.8458 zone.
GBP-CHF	It should be subject to more sell off towards 1.7868 or 1.7681. Corrective upward swings should face resistance around 1.8300 area. A break of 1.8269 is bullish.
GBP-JPY	It should trade higher to 164.1933 while 161.5867 or 160.8350 offers support. Stop loss below 160.0833 zone.
NZD-JPY	Current rise seems to be over near 65.6700 or 66.3067 for a retracement towards 65.0333 - 64.6500 area.
AUD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 81.9232 or 82.4333 if support around 80.9567 hold. After which a pullback to 80.9567 - 80.4750 zone is possible.
XAG-USD	It looks more likely that it would rise to 14.8300 - 15.0600 from 14.5550 or 14.4400. After which a downside move is expected.
XAU-USD	Market should not go lower than 954.3949 - 950.6766. After this move down it should go up to 960.4500 - 962.7866 area.

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