Daily Market Comments - Wednesday 16 September 2009

[RTFX-Trading]

EUR-USD	Currently uptrend should end around 1.4671 - 1.4708 area. A correction down to 1.4609 - 1.4583 is expected. A rise above 1.4760 will abort the expected correction.
USD-CHF	It looks more likely that it would rise to 1.0404 - 1.0459 from 1.0336 or 1.0309. After which a downside move is expected.
GBP-USD	It is likely to fall towards 1.6374 - 1.6260 unless a corrective rally breaks the 1.6574 resistance. Stop above 1.6631 zone.
USD-JPY	Resistances lie around 91.3400 and 91.5233. It should test lower towards 90.6933 zone. A clear break of 90.7700 would be bearish.
USD-CAD	There is bearish potential for a fall to 1.0667 while 1.0769 - 1.0798 resist. After this fall a recovery up to 1.0798 or 1.0826 is expected.
NZD-USD	It should trade higher to 0.7082 or above 0.7115 in extention. Supports at 0.7014 and 0.6998. Stop loss below 0.6947 zone.
AUD-USD	It should trade higher to 0.8665 or above 0.8697 in extention. Supports at 0.8599 and 0.8583. Stop loss below 0.8533 zone.
EUR-JPY	While below 133.6200 - 133.8967 it is more likely to fall further towards 133.1250 or 132.9067. Premature rise above 133.8967 could see it rising above 134.3333 zone.
EUR-CHF	Current rise seems to be over near 1.5172 or 1.5190 for a retracement towards 1.5154 - 1.5144 area.
EUR-GBP	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8926 or 0.8934 if support around 0.8853 hold. After which a pullback to 0.8853 - 0.8831 zone is possible.
GBP-CHF	Market should not go lower than 1.7055 - 1.6981. After this move down it should go up to 1.7172 - 1.7214 area.
GBP-JPY	No comment!
NZD-JPY	It should trade lower to 63.7700. Resistances are at 64.4800 and 64.7600. A break of 65.1900 is bullish, confirmed by a close above 64.6500.
AUD-JPY	Uptrend is still intact. It should continue to rally to 79.1600 or 79.5600 if supports at 78.4900 - 78.3550 area hold. Stop loss below 78.2200.
XAG-USD	It should trade higher to 17.2667 while 16.8433 or 16.7350 offers support. Stop loss below 16.6267 zone.
XAU-USD	It looks set for gains to 1014.1934. Supports at 1000.0850 and 996.8234. A break of 985.9767 will damage this bullish structure.

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

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