Daily Market Comments - Monday 17 August 2009

[RTFX-Trading]

EUR-USD	There is bearish potential for a fall to 1.4131 while 1.4218 - 1.4248 resist. After this fall a recovery up to 1.4248 or 1.4277 is expected.
USD-CHF	It should test 1.0772 area after which a sell off down to 1.0685 or extended to 1.0639 area is expected.
GBP-USD	While above 1.6507 - 1.6473 zone a corrective upmove could test 1.6569 or 1.6597. After which it should resume its downtrend.
USD-JPY	It may meet resistance in 94.8100 - 94.9067 zone for a drift down to 94.3333 zone, after which bounce to 95.3833 is anticipated.
USD-CAD	It should trade higher to 1.1074 while 1.0944 or 1.0906 offers support. Stop loss below 1.0867 zone.
NZD-USD	Preferred view is for a fall to 0.6754 - 0.6710 while 0.6826 - 0.6853 area resists. A clear break of 0.6941 would be bullish.
AUD-USD	There is bearish potential for a fall to 0.8225 while 0.8352 - 0.8390 resist. After this fall a recovery up to 0.8390 or 0.8428 is expected.
EUR-JPY	Support at 134.3550 or 133.6567 should hold the downside for a correction to above 135.9167 zone.
EUR-CHF	Market should not go lower than 1.5224 - 1.5197. After this move down it should go up to 1.5266 - 1.5281 area.
EUR-GBP	It looks more likely that it would rise to 0.8630 - 0.8677 from 0.8583 or 0.8559. After which a downside move is expected.
GBP-CHF	It should trade higher to above 1.7788 while 1.7709 - 1.7685 offer support. Stop Loss below 1.7629 zone.
GBP-JPY	Current fall is near an end of wave around 155.7033 zone, a rally should then procede to above 158.0833. Fall below 154.6767 would cancel this scenario.
NZD-JPY	There is bearish potential for a fall to 63.5167 while 64.4333 - 64.7400 resist. After this fall a recovery up to 64.7400 or 65.0467 is expected.
AUD-JPY	Market should not go lower than 78.5550 - 77.7900. After this move down it should go up to 79.7750 - 80.2300 area.
XAG-USD	It looks more likely that it would rise to 15.0533 - 15.4167 from 14.6450 or 14.4633. After which a downside move is expected.
XAU-USD	There is bearish potential for a fall to 940.5833 while 949.9666 - 953.6499 resist. After this fall a recovery up to 953.6499 or 957.3333 is expected.

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