Daily Market Comments - Wednesday 16 December 2009

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.4521 - 1.4473. After this move down it should go up to 1.4601 - 1.4633 area.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0437 or 1.0451 if support around 1.0381 hold. After which a pullback to 1.0381 - 1.0357 zone is possible.
GBP-USD	It should test 1.6293 area after which a sell off down to 1.6209 or extended to 1.6151 area is expected.
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 89.9425 or 90.1780 if support around 89.3790 hold. After which a pullback to 89.3790 - 89.0950 zone is possible.
USD-CAD	It should find support in 1.0583 - 1.0560 area for a rally to 1.0705. Unexpected fall below 1.0507 will dent this bullish view.
NZD-USD	Market should not go lower than 0.7205 - 0.7179. After this move down it should go up to 0.7250 - 0.7269 area.
AUD-USD	Market should not go lower than 0.9048 - 0.9006. After this move down it should go up to 0.9118 - 0.9146 area.
EUR-JPY	It should trade higher to 130.8297 while 130.1843 or 129.9075 offers support. Stop loss below 129.6307 zone.
EUR-CHF	Our preferred outlook is for a drift down to 1.5114 or below 1.5105. Resistances are at 1.5124 and 1.5124. A rise above 1.5134 would delay but not abort this expected fall.
EUR-GBP	Market should not go lower than 0.8932 - 0.8909. After this move down it should go up to 0.8969 - 0.8983 area.
EUR-CAD	Market should not go lower than 1.5414 - 1.5375. After this move down it should go up to 1.5479 - 1.5505 area.
EUR-NZD	Market should pop up towards 2.0174 or 2.0202 this bullish scenario would be damaged if 2.0132 - 2.0131 zone is broken, a severe break down could then occur.
EUR-AUD	No comment!
GBP-CHF	Currently uptrend should end around 1.6966 - 1.6975 area. A correction down to below 1.6835 is expected. A rise above 1.7027 will abort the expected correction.
GBP-JPY	Currently uptrend should end around 146.2408 - 146.4480 area. A correction down to below 144.7560 is expected. A rise above 147.1060 will abort the expected correction.
GBP-CAD	Currently uptrend should end around 1.7288 - 1.7321 area. A correction down to below 1.7196 is expected. A rise above 1.7380 will abort the expected correction.
GBP-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.8010 or 1.8026 if support around 1.7904 hold. After which a pullback to 1.7904 - 1.7866 zone is possible.
CAD-JPY	Currently uptrend should end around 84.6648 - 84.9217 area. A correction down to below 83.7867 is expected. A rise above 85.3973 will abort the expected correction.
NZD-JPY	Uptrend is still intact. It should continue to rally to 65.3593 or 65.7677 if supports at 64.6083 - 64.4370 area hold. Stop loss below 64.2657.
AUD-JPY	It should test 81.3880 area after which a sell off down to 80.7997 or extended to 80.3923 area is expected.
XAG-USD	It should trade higher to 17.5590 while 17.3370 or 17.2650 offers support. Stop loss below 17.1930 zone.
XAU-USD	It looks set for gains to 1132.3668. Supports at 1118.3469 and 1114.7468. A break of 1104.3269 will damage this bullish structure.

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

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.