Daily Market Comments - Thursday 03 September 2009

[RTFX-Trading]

EUR-USD	It should test 1.4306 area after which a sell off down to 1.4203 or extended to 1.4144 area is expected.
USD-CHF	While above 1.0596 - 1.0565 zone a corrective dip could test 1.0626 or 1.0671. After which it should resume his downtrend.
GBP-USD	It should be subject to more sell off towards 1.6193 or 1.6158. Corrective upward swings should face resistance around 1.6405 area. A break of 1.6415 is bullish.
USD-JPY	Market should not go lower than 92.1550 - 91.8533. After this move down it should go up to 92.6350 - 92.8133 area.
USD-CAD	Resistances lie around 1.1077 and 1.1100. It should test lower towards 1.1005 zone. A clear break of 1.1044 would be bearish.
NZD-USD	It may meet resistance in 0.6729 - 0.6731 zone for a drift down to 0.6683 zone, after which bounce to 0.6776 is anticipated.
AUD-USD	It should test 0.8397 area after which a sell off down to 0.8261 or extended to 0.8185 area is expected.
EUR-JPY	Current fall is near an end of wave around 130.8600 zone, a rally should then procede to above 132.3600. Fall below 130.1900 would cancel this scenario.
EUR-CHF	Our preferred outlook is for a drift down to 1.5110 or below 1.5086. Resistances are at 1.5133 and 1.5148. A rise above 1.5172 would delay but not abort this expected fall.
EUR-GBP	Market should not go lower than 0.8756 - 0.8735. After this move down it should go up to 0.8792 - 0.8806 area.
GBP-CHF	Current upmove should be ended around 1.7299 - 1.7336. Any correction consolidation should find support in 1.7227 - 1.7192 zone.
GBP-JPY	Market should hold major support at 148.4068 before rising towards 150.7333 or even 151.4067 limit.
NZD-JPY	One more dip to 61.8850 - < s1> is likely followed by a grind higher to 62.5450 - 62.8200. After which it can resume its downtrend.
AUD-JPY	One more dip to 76.6450 - < s1> is likely followed by a grind higher to 77.5233.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 15.5034 or 15.6367 if support around 15.2433 hold. After which a pullback to 15.2433 - 15.1250 zone is possible.
XAU-USD	Current rise seems to be over near 979.6600 or 988.9534 for a retracement towards 970.3667 - 965.2001 area.

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