Daily Market Comments - Wednesday 26 August 2009

[RTFX-Trading]

EUR-USD	Market should pop up towards 1.4330 or 1.4356 this bullish scenario would be damaged if 1.4275 - 1.4246 zone is broken, a severe break down could then occur.
USD-CHF	Currently uptrend should end around 1.0628 - 1.0648 area. A correction down to 1.0592 - 1.0576 is expected. A rise above 1.0680 will abort the expected correction.
GBP-USD	It should register further gains to 1.6420 while 1.6306 - 1.6261 caps downside attempts. Stop loss below 1.6192 zone.
USD-JPY	One more dip to 93.9850 - 93.7667 is likely followed by a grind higher to 94.4100 - 94.6167. After which it can resume his downtrend.
USD-CAD	It should trade higher to 1.0918 while 1.0819 or 1.0794 offers support. Stop loss below 1.0769 zone.
NZD-USD	Preferred view is for a fall to 0.6837 - 0.6818 while 0.6869 - 0.6882 area resists. A clear break of 0.6921 would be bullish.
AUD-USD	It looks more likely that it would rise to 0.8410 - 0.8464 from 0.8347 or 0.8320. After which a downside move is expected.
EUR-JPY	No comment!
EUR-CHF	It should find support in 1.5164 - 1.5154 area for a rally to 1.5218. Unexpected fall below 1.5132 will dent this bullish view.
EUR-GBP	Current rise should end around 0.8771. Objectives of this downmove are 0.8712 or 0.8680. A rise above 0.8798 is again bullish.
GBP-CHF	Current fall is near an end of wave around 1.7300 zone, a rally should then procede to above 1.7423. Fall below 1.7245 would cancel this scenario.
GBP-JPY	It should register further gains to 155.2000 while 153.1000 - 152.2200 caps downside attempts. Stop loss below 151.0000 zone.
NZD-JPY	It looks more likely that it would rise to 65.0733 - 65.7067 from 64.2900 or 63.9733. After which a downside move is expected.
AUD-JPY	It looks more likely that it would rise to 79.5367 - 80.3633 from 78.4900 or 78.0767. After which a downside move is expected.
XAG-USD	While below 14.4500 it is more likely to fall further towards 14.2700 or 14.1850 level.
XAU-USD	While below 949.6700 - 952.3666 it might drop to 939.3566 or 933.9633.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

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