Daily Market Comments - Thursday 22 October 2009

[RTFX-Trading]

EUR-USD	It should try higher up to 1.5031 - 1.5079. Entry point 1.4983 or 1.4952. After this rise, a correction is expected.
USD-CHF	No comment!
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6651 or 1.6715 if support around 1.6530 hold. After which a pullback to 1.6530 - 1.6477 zone is possible.
USD-JPY	Current upmove should be ended around 91.1200 - 91.3300. Any correction consolidation should find support in 90.7300 - 90.5500 zone.
USD-CAD	There are initial signs of a good corrective recovery towards 1.0506 or even 1.0549. Supports at 1.0403 and 1.0344 zone.
NZD-USD	It should try higher up to 0.7620 - 0.7672. Entry point 0.7568 or 0.7535. After this rise, a correction is expected.
AUD-USD	Corrective dips should ideally halt near 0.9242 or 0.9213 for one more thrust upwards towards 0.9309 - 0.9348 area or 0.9405 in extention. Fall below 0.9135 puts it back on a downward path.
EUR-JPY	Current rise seems to be over near 136.7900 or 137.3233 for a retracement towards 136.2567 - 135.8950 area.
EUR-CHF	Current fall is near an end of wave around 1.5090 zone, a rally should then procede to above 1.5122. Fall below 1.5075 would cancel this scenario.
EUR-GBP	One more dip to 0.9019 - 0.8984 is likely followed by a grind higher to 0.9083 - 0.9112. After which it can resume its downtrend.
EUR-CAD	A corrective rise should ideally test 1.5762 or even higher than 1.5865. Supports are at 1.5595. Stop loss below 1.5499 zone.
EUR-NZD	There is bearish potential for a fall to 1.9723 - 1.9635 while 1.9811 - 1.9866 resist. After this fall a recovery up to 1.9866 or 1.9921 is expected.
EUR-AUD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.6229 or under 1.6109 limits.
GBP-CHF	Strength can extend to 1.6752 or even 1.6813 as declines are expected to find support at 1.6690 or 1.6638. Stop Loss below 1.6585 zone.
GBP-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 152.1234 or 152.2667 if support around 150.3633 hold. After which a pullback to 150.3633 - 149.7650 zone is possible.
GBP-CAD	Should test support at 1.7151 while below 1.7321. If support at 1.7151 holds it can rise up to 1.7513, if not it should fall to below 1.6980 zone.
GBP-AUD	Strength can extend to 1.7944 or even higher than 1.8025 as declines are expected to find support at 1.7787 or 1.7712. A fall below 1.7550 could turn it bearish.
CAD-JPY	It may attempt a test higher to 87.4350 - 87.9267 after which weakness may set it to a drift down to 86.2367 limit.
NZD-JPY	Currently uptrend should end around 69.3300 - 69.8500 area. A correction down to below 68.1300 is expected. A rise above 70.5300 will abort the expected correction.
AUD-JPY	It should try higher up to 84.6800 - 85.0800. Entry point 84.2800 or 84.0000. After this rise, a correction is expected.
XAG-USD	It may attempt a test higher to 17.7550 - 17.9100 after which weakness may set it to a drift down to 17.3900 limit.
XAU-USD	It may attempt a test higher to 1062.0100 - 1066.6633 after which weakness may set it to a drift down to 1049.7434 limit.

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

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.