Daily Market Comments - Monday 24 August 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4378 or 1.4405 if support around 1.4307 hold. After which a pullback to 1.4307 - 1.4272 zone is possible.
USD-CHF	Market should not go lower than 1.0562 - 1.0531. After this move down it should go up to 1.0614 - 1.0634 area.
GBP-USD	It looks more likely that it would rise to 1.6601 - 1.6714 from 1.6454 or 1.6397. After which a downside move is expected.
USD-JPY	It looks set for gains to 94.8867. Supports at 93.8700 and 93.5867. A break of 92.8533 will damage this bullish structure.
USD-CAD	It looks set to visit further lower territory down to around 1.0792 - 1.0741. Its corrective attempts should fail ahead of 1.0792 - 1.0921. Stop loss above 1.1022 zone.
NZD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.6845 or 0.6886 if support around 0.6799 hold. After which a pullback to 0.6799 - 0.6766 zone is possible.
AUD-USD	It should try higher up to 0.8365 - 0.8414. Entry point 0.8315 or 0.8275. After this rise, a correction is expected.
EUR-JPY	It should try higher up to 135.3450 - 136.1567. Entry point 134.5333 or 134.0650. After this rise, a correction is expected.
EUR-CHF	Preferred outlook is for a drift down to below 1.5107. Resistances are at 1.5156 and 1.5160. A rise above 1.5172 would delay but not abort this expected fall.
EUR-GBP	Currently uptrend should end around 0.8735 - 0.8720 area. A correction down to below 0.8650 is expected. A rise above 0.8745 will abort the expected correction.
GBP-CHF	Support at 1.7424 or 1.7375 should hold the downside for a correction to above 1.7528 zone.
GBP-JPY	If market stays below 156.0500 a fall to 153.8700 is expected. If market breaks the point 156.8700 it could reach the sky.
NZD-JPY	It should trade higher to 65.1133 while 63.9567 or 63.5550 offers support. Stop loss below 63.1533 zone.
AUD-JPY	Corrective dips should ideally halt near 77.7300 or 77.2567 for one more thrust upwards towards 78.8750 - 79.5467 area or 80.4933 in extention. Fall below 75.9133 puts it back on a downward path.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 14.2367 or 14.3967 if support around 14.0633 hold. After which a pullback to 14.0633 - 13.9450 zone is possible.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 959.1346 or 962.1501 if support around 950.1000 hold. After which a pullback to 950.1000 - 946.0250 zone is possible.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
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