Daily Market Comments - Friday 20 November 2009

[RTFX-Trading]

EUR-USD	If market stays below 1.4945 a fall to 1.4857 is expected. If market breaks the point 1.4980 it could reach the sky.
USD-CHF	It looks more likely that it would rise to 1.0185 from 1.0113 or 1.0085. After which a downside move is expected.
GBP-USD	Current fall is near an end of wave around 1.6598 zone, a rally should then procede to above 1.6744. Fall below 1.6529 would cancel this scenario.
USD-JPY	It is likely to fall towards 88.8050 - 88.5933 as its corrective rally could falter in 89.2050 - 89.3933 area. Stop above 89.8167 zone.
USD-CAD	While below 1.0662 - 1.0701 it is more likely to fall further towards 1.0590 or 1.0557. Premature rise above 1.0701 could see it rising above 1.0767 zone.
NZD-USD	Market should not go lower than 0.7231. After this move down it should go up to 0.7388 - 0.7427 area.
AUD-USD	One more dip to 0.9158 - 0.9111 is likely followed by a grind higher to 0.9243 - 0.9281. After which it can resume its downtrend.
EUR-JPY	It may attempt a test higher to 133.2850 - 133.7967 after which weakness may set it to a drift down to 131.7767 limit.
EUR-CHF	Our preferred outlook is for a drift down to 1.5102 or below 1.5086. Resistances are at 1.5118 and 1.5124. A rise above 1.5140 would delay but not abort this expected fall.
EUR-GBP	Current rise should end around 0.8979. Objectives of this downmove are 0.8915 or 0.8877. A rise above 0.9005 is again bullish.
EUR-CAD	One move lower to 1.5785 or 1.5696 is anticipated while below 1.5889 - 1.5933 area. Stop loss above 1.5992 zone.
EUR-NZD	Uptrend is still intact in a triangle configuration. It should continue to rally to 2.0605 or 2.0551 if support around 2.0297 hold. After which a pullback to 2.0297 - 2.0229 zone is possible.
EUR-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6378 or 1.6318 if support around 1.6201 hold. After which a pullback to 1.6201 - 1.6166 zone is possible.
GBP-CHF	Market should not go lower than 1.6871 - 1.6827. After this move down it should go up to 1.6943 - 1.6971 area.
GBP-JPY	One more dip to 147.8200 is likely followed by a grind higher to 149.5533. After which it can resume its downtrend.
GBP-CAD	Currently uptrend should end around 1.7760 - 1.7788 area. A correction down to below 1.7650 is expected. A rise above 1.7849 will abort the expected correction.
GBP-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.8184 or 1.8227 if support around 1.8112 hold. After which a pullback to 1.8112 - 1.8072 zone is possible.
CAD-JPY	One more dip to 83.3300 is likely followed by a grind higher to 84.6200. After which it can resume its downtrend.
NZD-JPY	Market should not go lower than 64.8050 - 64.1733. After this move down it should go up to 65.8700 - 66.3033 area.
AUD-JPY	One more dip to 81.4000 - 80.8300 is likely followed by a grind higher to 82.4150 - 82.8600. After which it can resume its downtrend.
XAG-USD	It should trade higher to above 18.7133 while 18.3450 - 18.2533 offer support. Stop Loss below 17.9767 zone.
XAU-USD	Market should hold major support at 1133.5515 before rising towards 1150.5535 or even 1156.5768 limit.

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

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