Monthly Market Comments - Tuesday 01 December 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5197 or 1.5224 if support around 1.4925 hold. After which a pullback to 1.4925 - 1.4815 zone is possible.
USD-CHF	One more dip to 0.9985 - 0.9868 is likely followed by a grind higher to 1.0196 - 1.0289. After which it can resume its downtrend.
GBP-USD	There are initial signs of a good corrective recovery towards 1.6659 or even 1.6791. Supports at 1.6351 and 1.6176 zone.
USD-JPY	Market should not go lower than 85.6090 - 83.7087. After this move down it should go up to 88.8590 - 90.2087 area.
USD-CAD	No comment!
NZD-USD	It looks more likely that it would rise to 0.7447 - 0.7734 from 0.7093 or 0.6950. After which a downside move is expected.
AUD-USD	While below 0.9283 - 0.9408 it is more likely to fall further towards 0.9033 or 0.8908. Premature rise above 0.9408 could see it rising above 0.9657 zone.
EUR-JPY	There is bearish potential for a fall to 125.7880 while 130.7590 - 132.6985 resist. After this fall a recovery up to 132.6985 or 134.6380 is expected.
EUR-CHF	It should test 1.5096 area after which a sell off down to 1.5016 or extended to 1.4947 area is expected.
EUR-GBP	It may attempt a test higher to 0.9140 - 0.9243 after which weakness may set it to a drift down to below 0.8922 limit.
EUR-CAD	It should test 1.5930 area after which a sell off down to 1.5628 or extended to 1.5406 area is expected.
EUR-NZD	Currently uptrend should end around 2.1116 - 2.1511 area. A correction down to 2.0443 - 2.0165 is expected. A rise above 2.2068 will abort the expected correction.
EUR-AUD	It may attempt a test higher to 1.6506 - 1.6692 after which weakness may set it to a drift down to below 1.6012 limit.
GBP-CHF	Current move should be supported in 1.6498 - 1.6294 zone for a rise to 1.6938. A break below 1.6058 opens the way down.
GBP-JPY	There is bearish potential for a fall to 137.0414 while 144.3307 - 146.8460 resist. After this fall a recovery up to 146.8460 or 149.3613 is expected.
GBP-CAD	It looks more likely that it would rise to 1.7753 - 1.8140 from 1.7316 or 1.7122. After which a downside move is expected.
GBP-AUD	Market should pop up towards 1.8159 or 1.8312 this bullish scenario would be damaged if 1.7794 - 1.7785 zone is broken, a severe break down could then occur.
CAD-JPY	There is bearish potential for a fall to 79.0433 while 82.6967 - 84.0800 resist. After this fall a recovery up to 84.0800 or 85.4633 is expected.
NZD-JPY	No comment!
AUD-JPY	While above 77.8650 - 75.7467 zone a corrective dip could test 79.9833 or 83.3967. After which it should resume his downtrend.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 19.3610 or 19.5353 if support around 17.8877 hold. After which a pullback to 17.8877 - 17.3665 zone is possible.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1261.4709 or 1236.0315 if support around 1138.8907 hold. After which a pullback to 1138.8907 - 1110.6611 zone is possible.

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

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