Daily Market Comments - Wednesday 28 October 2009

[RTFX-Trading]

EUR-USD	Current fall is near an end of wave around 1.4746 zone, a rally should then procede to above 1.4903. Fall below 1.4679 would cancel this scenario.
USD-CHF	While below 1.0231 - 1.0259 it is more likely to fall further towards 1.0180 or 1.0157. Premature rise above 1.0259 could see it rising above 1.0306 zone.
GBP-USD	Strength can extend to 1.6407 or even 1.6447 as declines are expected to find support at 1.6366 or 1.6330. Stop Loss below 1.6294 zone.
USD-JPY	No comment!
USD-CAD	There are initial signs of a good corrective recovery towards 1.0679 or even 1.0697. Supports at 1.0635 and 1.0609 zone.
NZD-USD	Market should not go lower than 0.7426 - 0.7395. After this move down it should go up to 0.7477 - 0.7497 area.
AUD-USD	One more dip to 0.9145 - 0.9121 is likely followed by a grind higher to 0.9193 - 0.9217. After which it can resume his downtrend.
EUR-JPY	It should register further gains to 137.0000 while 135.2900 - 134.6200 caps downside attempts. Stop loss below 133.5800 zone.
EUR-CHF	Decline should be supported around 1.5112 - 1.5097 zone for rally to above 1.5152. A clear break of 1.5097 will damage this expected rally.
EUR-GBP	Current fall is near an end of wave around 0.9003 zone, a rally should then procede to above 0.9113. Fall below 0.8959 would cancel this scenario.
EUR-CAD	It looks more likely that it would rise to 1.5897 - 1.6029 from 1.5749 or 1.5683. After which a downside move is expected.
EUR-NZD	It should find support in 1.9880 - 1.9852 area for a rally to 2.0026. Unexpected fall below 1.9788 will dent this bullish view.
EUR-AUD	Market should not go lower than 1.6149 - 1.6114. After this move down it should go up to 1.6205 - 1.6226 area.
GBP-CHF	Current rise should end around 1.6790. Objectives of this downmove are 1.6617 or 1.6514. A rise above 1.6860 is again bullish.
GBP-JPY	It looks more likely that it would rise to 151.0067 - 151.7133 from 150.1100 or 149.7567. After which a downside move is expected.
GBP-CAD	A corrective rise should ideally test 1.7532 or even higher than 1.7635. Supports are at 1.7367. Stop loss below 1.7261 zone.
GBP-AUD	Current rise should end around 1.7936. Objectives of this downmove are 1.7759 or 1.7659. A rise above 1.8013 is again bullish.
CAD-JPY	Market should hold major support at 85.2932 before rising towards 86.6933 or even 87.1467 limit.
NZD-JPY	Market should not go lower than 67.7435. After this move down it should go up to 68.9200 area.
AUD-JPY	One more dip to 83.9450 - 83.6567 is likely followed by a grind higher to 84.4850 - 84.7367. After which it can resume its downtrend.
XAG-USD	One more dip to 16.5900 - 16.3767 is likely followed by a grind higher to 16.9600 - 17.1167. After which it can resume its downtrend.
XAU-USD	It should test 1042.8701 area after which a sell off down to 1033.7035 or extended to 1027.6068 area is expected.

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