Daily Market Comments - Friday 11 December 2009

[RTFX-Trading]

EUR-USD	Currently uptrend should end around 1.4746 - 1.4767 area. A correction down to 1.4708 - 1.4690 is expected. A rise above 1.4802 will abort the expected correction.
USD-CHF	It looks more likely that it would rise to 1.0295 - 1.0331 from 1.0249 or 1.0231. After which a downside move is expected.
GBP-USD	No comment!
USD-JPY	It should be subject to more sell off towards 87.9725 or 87.8127. Corrective upward swings should face resistance around 88.4030 area. A break of 88.8393 is bullish.
USD-CAD	One more dip to 1.0498 is likely followed by a grind higher to 1.0574. After which it can resume its downtrend.
NZD-USD	One move lower to 0.7210 or 0.7133 is anticipated while below 0.7303 - 0.7341 area. Stop loss above 0.7396 zone.
AUD-USD	While below 0.9177 - 0.9208 it is more likely to fall further towards 0.9124 or 0.9101. Premature rise above 0.9208 could see it rising above 0.9252 zone.
EUR-JPY	It should be subject to more sell off towards 129.4920 or 129.1997. Corrective upward swings should face resistance around 130.3950 area. A break of 131.1064 is bullish.
EUR-CHF	Any possible decline should be supported around 1.5104 - 1.5093 zone for rally to above 1.5142. A clear break of 1.5079 will damage this expected rally.
EUR-GBP	Currently uptrend should end around 0.9060 - 0.9074 area. A correction down to 0.9035 - 0.9023 is expected. A rise above 0.9097 will abort the expected correction.
EUR-CAD	Current fall is near an end of wave around 1.5436 zone, a rally should then procede to above 1.5565. Fall below 1.5378 would cancel this scenario.
EUR-NZD	It may meet resistance in 2.0220 - 2.0275 zone for a drift down to 2.0061 zone, after which bounce to 2.0434 is anticipated.
EUR-AUD	One more dip to 1.6056 - 1.6003 is likely followed by a grind higher to 1.6146 - 1.6183. After which it can resume its downtrend.
GBP-CHF	It is a triangle configuration . Market should break either side. Acceleration should occur above 1.6758 or under 1.6668 limits.
GBP-JPY	It should trade higher to 144.4973 while 143.4997 or 143.0415 offers support. Stop loss below 142.5833 zone.
GBP-CAD	Current fall is near an end of wave around 1.7054 zone, a rally should then procede to above 1.7204. Fall below 1.6987 would cancel this scenario.
GBP-AUD	One more dip to 1.7734 - 1.7671 is likely followed by a grind higher to 1.7844 - 1.7890. After which it can resume its downtrend.
CAD-JPY	Currently uptrend should end around 84.2118 - 84.3817 area. A correction down to below 83.1767 is expected. A rise above 84.8983 will abort the expected correction.
NZD-JPY	While below 64.4465 - 64.8763 it is more likely to fall further towards 63.7140 or 63.4113. Premature rise above 64.8763 could see it rising above 65.4817 zone.
AUD-JPY	Current rise seems to be over near 80.9675 or 81.3483 for a retracement towards 80.5867 - 80.3325 area.
XAG-USD	Market should hold major support at 17.1700 before rising towards 17.5950 or even 17.7800 limit.
XAU-USD	It should trade higher to 1138.4154 while 1129.8087 or 1126.2621 offers support. Stop loss below 1122.7155 zone.

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