Daily Market Comments - Monday 23 November 2009

[RTFX-Trading]

EUR-USD	One more dip to 1.4831 - 1.4796 is likely followed by a grind higher to 1.4898 - 1.4930. After which it can resume its downtrend.
USD-CHF	Strength can extend to 1.0199 or 1.0224 as declines are expected to find support at 1.0173 or 1.0148. A fall below 1.0123 could turn it bearish.
GBP-USD	One more dip to 1.6484 - 1.6421 is likely followed by a grind higher to 1.6592 - 1.6636. After which it can resume its downtrend.
USD-JPY	It should test 89.2800 area after which a sell off down to 88.7633 or extended to 88.4967 area is expected.
USD-CAD	While below 1.0715 - 1.0748 it is more likely to fall further towards 1.0656 or 1.0631. Premature rise above 1.0748 could see it rising above 1.0799 zone.
NZD-USD	It may meet resistance in 0.7257 - 0.7285 zone for a drift down to below 0.7189 zone.
AUD-USD	Market should hold major support at 0.9009 before rising towards 0.9227 or even 0.9298 limit.
EUR-JPY	Current fall is near an end of wave around 131.7400 zone, a rally should then procede to above 132.9100. Fall below 131.1800 would cancel this scenario.
EUR-CHF	Our preferred outlook is for a drift down to 1.5111 or below 1.5101. Resistances are at 1.5122 and 1.5125. A rise above 1.5135 would delay but not abort this expected fall.
EUR-GBP	Current rise should end around 0.9031. Objectives of this downmove are 0.8960 or 0.8918. A rise above 0.9060 is again bullish.
EUR-CAD	While below 1.5918 - 1.5942 it is more likely to fall further towards 1.5873 or 1.5853. Premature rise above 1.5942 could see it rising above 1.5983 zone.
EUR-NZD	One move lower to 2.0399 or 2.0284 is anticipated while below 2.0557 - 2.0614 area. Stop loss above 2.0714 zone.
EUR-AUD	There are initial signs of a good corrective recovery towards 1.6293 or even 1.6323. Supports at 1.6217 and 1.6170 zone.
GBP-CHF	It should register further gains to 1.6875 while 1.6746 - 1.6695 caps downside attempts. Stop loss below 1.6617 zone.
GBP-JPY	It may meet resistance in 147.2833 - 147.6950 zone for a drift down to below 146.1566 zone.
GBP-CAD	It is likely to fall towards 1.7639 - 1.7609 as its corrective rally could falter in 1.7696 - 1.7723 area. Stop above 1.7783 zone.
GBP-AUD	It looks more likely that it would rise to 1.8132 - 1.8232 from 1.8016 or 1.7966. After which a downside move is expected.
CAD-JPY	It may meet resistance in 83.2100 - 83.3133 zone for a drift down to 82.7667 zone, after which bounce to 83.7567 is anticipated.
NZD-JPY	It may meet resistance in 64.5000 - 64.5867 zone for a drift down to 63.9533 zone, after which bounce to 65.1333 is anticipated.
AUD-JPY	Market should hold major support at 80.0200 before rising towards 82.1467 or even 82.7833 limit.
XAG-USD	While below 18.5550 it is more likely to fall further towards 18.1767 level.
XAU-USD	It should trade higher to 1157.2100 or above 1163.4200 in extention. Supports at 1141.9749 and 1138.8699. Stop loss below 1126.7399 zone.

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

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