Daily Market Comments - Monday 31 August 2009

[RTFX-Trading]

EUR-USD	There are initial signs of a good corrective recovery towards 1.4344 or even 1.4365. Supports at 1.4291 and 1.4259 zone.
USD-CHF	It should test 1.0632 area after which a sell off down to 1.0552 or extended to 1.0506 area is expected.
GBP-USD	There are initial signs of a good corrective recovery towards 1.6328 or even 1.6351. Supports at 1.6266 and 1.6227 zone.
USD-JPY	Market should not go lower than 93.4950 - 93.3033. After this move down it should go up to 93.8200 - 93.9533 area.
USD-CAD	It should test 1.1022 area after which a sell off down to 1.0827 or extended to 1.0737 area is expected.
NZD-USD	There are initial signs of a good corrective recovery towards 0.6872 or even 0.6883. Supports at 0.6842 and 0.6825 zone.
AUD-USD	Should test support at 0.8371 while below 0.8415. If support at 0.8371 holds it can rise up to 0.8464, if not it should fall to below 0.8328 zone.
EUR-JPY	Current move should be supported in 133.7550 - 133.3334 zone for a rise to 134.6634. A break below 132.8467 opens the way down.
EUR-CHF	It looks set to visit further lower territory down to around 1.5132. Its corrective attempts should fail ahead of 1.5199. Stop loss above 1.5242 zone.
EUR-GBP	It looks more likely that it would rise to 0.8820 - 0.8852 from 0.8781 or 0.8765. After which a downside move is expected.
GBP-CHF	One more dip to 1.7220 - < s1> is likely followed by a grind higher to 1.7276 - 1.7303. After which it can resume its downtrend.
GBP-JPY	While below 152.6333 it might drop to 151.6366 or below 150.9833 zone.
NZD-JPY	Current move should be supported in 64.0300 - 63.8267 zone for a rise to 64.4967. A break below 63.5633 opens the way down.
AUD-JPY	Resistances lie around 79.1050 and 79.3633. It should test lower towards 78.2333 zone. A clear break of 78.4600 would be bearish.
XAG-USD	Current rise seems to be over near 14.8050 or 14.9767 for a retracement towards 14.6333 - 14.5150 area.
XAU-USD	While below 959.0800 - 962.7567 it is more likely to fall further towards 952.1200 or 948.8367. Premature rise above 962.7567 could see it rising above 969.3233 zone.

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