Daily Market Comments - Wednesday 11 November 2009

[RTFX-Trading]

EUR-USD	Strength can extend to 1.5029 or even higher than 1.5111 as declines are expected to find support at 1.4966. A fall below 1.4947 could turn it bearish.
USD-CHF	It may meet resistance in 1.0077 - 1.0082 zone for a drift down to 1.0056 zone, after which bounce to 1.0104 is anticipated.
GBP-USD	It should trade higher to 1.6821 or 1.6899 in extension while 1.6712 offers support. Stop loss below 1.6673 zone .
USD-JPY	There is bearish potential for a fall to 89.7400 - 89.5933 while 89.8867 - 89.9900 resist. After this fall a recovery up to 89.9900 or 90.0933 is expected.
USD-CAD	It may meet resistance in 1.0495 - 1.0529 zone for a drift down to 1.0450 zone, after which bounce to 1.0573 is anticipated.
NZD-USD	One move lower to 0.7387 or 0.7338 is anticipated while below 0.7449 - 0.7473 area. Stop loss above 0.7510 zone.
AUD-USD	One move lower to 0.9265 or 0.9226 is anticipated while below 0.9313 - 0.9333 area. Stop loss above 0.9362 zone.
EUR-JPY	There are initial signs of a good corrective recovery towards 135.0150 or even 135.3100. Supports at 134.3900 and 134.0600 zone.
EUR-CHF	It looks set to visit further lower territory down to around 1.5095. Its corrective attempts should fail ahead of 1.5116. Stop loss above 1.5128 zone.
EUR-GBP	Resistances lie around 0.8985 and 0.9001. It should test lower towards 0.8921 zone. A clear break of 0.8910 would be bearish.
EUR-CAD	Market should pop up towards 1.5811 or 1.5846 this bullish scenario would be damaged if 1.5721 - 1.5666 zone is broken, a severe break down could then occur.
EUR-NZD	One more dip to 2.0139 - 2.0087 is likely followed by a grind higher to 2.0230 - 2.0269. After which it can resume its downtrend.
EUR-AUD	Market should pop up towards 1.6146 or 1.6164 this bullish scenario would be damaged if 1.6099 - 1.6074 zone is broken, a severe break down could then occur.
GBP-CHF	Market should hold major support at 1.6777 before rising towards 1.6939 or even 1.7005 limit.
GBP-JPY	It should test 150.7050 area after which a sell off down to 149.2533 or extended to 148.1367 area is expected.
GBP-CAD	Current fall is near an end of wave around 1.7500 zone, a rally should then procede to above 1.7688. Fall below 1.7426 would cancel this scenario.
GBP-AUD	Market should hold major support at 1.7907 before rising towards 1.8065 or even 1.8135 limit.
CAD-JPY	Currently uptrend should end around 86.1865 - 85.9767 area. A correction down to below 84.8667 is expected. A rise above 86.3833 will abort the expected correction.
NZD-JPY	Strength can extend to 67.1733 or even higher than 68.0633 as declines are expected to find support at 66.4850. A fall below 66.2833 could turn it bearish.
AUD-JPY	Strength can extend to 83.9200 or even higher than 84.7300 as declines are expected to find support at 83.2950. A fall below 83.1100 could turn it bearish.
XAG-USD	No comment!
XAU-USD	Currently uptrend should end around 1108.5850 - 1111.0333 area. A correction down to below 1098.8134 is expected. A rise above 1116.2966 will abort the expected correction.

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