Daily Market Comments - Wednesday 23 December 2009

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.4233 - 1.4200. After this move down it should go up to 1.4290 - 1.4314 area.
USD-CHF	Currently uptrend should end around 1.0516 - 1.0515 area. A correction down to below 1.0454 is expected. A rise above 1.0540 will abort the expected correction.
GBP-USD	It looks set to visit further lower territory down to around 1.5943 - 1.5890. Its corrective attempts should fail ahead of 1.5943 - 1.6069. Stop loss above 1.6174 zone.
USD-JPY	Currently uptrend should end around 92.4708 - 92.1360 area. A correction down to below 91.2690 is expected. A rise above 92.4370 will abort the expected correction.
USD-CAD	Current fall is near an end of wave around 1.0533 zone, a rally should then procede to above 1.0626. Fall below 1.0491 would cancel this scenario.
NZD-USD	Market should not go lower than 0.6958. After this move down it should go up to 0.7050 area.
AUD-USD	It may meet resistance in 0.8781 - 0.8796 zone for a drift down to below 0.8728 zone.
EUR-JPY	A correction down to 130.1767 or lower is now expected from 130.9690 or 131.3057. A break above 131.7613 is needed to turn bullish.
EUR-CHF	Our preferred view is for a drift down to 1.4920 or below 1.4892. Resistances is at 1.4930. A rise above 1.4984 would delay but not abort this expected fall.
EUR-GBP	Current upmove should be ended around 0.8936 - 0.8953. Any correction consolidation should find support in 0.8906 - 0.8892 zone.
EUR-CAD	Current fall is near an end of wave around 1.5001 zone, a rally should then procede to above 1.5164. Fall below 1.4934 would cancel this scenario.
EUR-NZD	Uptrend is still intact in a triangle configuration. It should continue to rally to 2.0468 or 2.0431 if support around 2.0328 hold. After which a pullback to 2.0328 - 2.0299 zone is possible.
EUR-AUD	One move lower to 1.6206 or 1.6143 is anticipated while below 1.6279 - 1.6310 area. Stop loss above 1.6352 zone.
GBP-CHF	It looks set to visit further lower territory down to around 1.6728 - 1.6693. Its corrective attempts should fail ahead of 1.6728 - 1.6816. Stop loss above 1.6887 zone.
GBP-JPY	While below 146.8315 - 147.0970 it is more likely to fall further towards 146.3155 or 146.0650. Premature rise above 147.0970 could see it rising above 147.5980 zone.
GBP-CAD	It looks set to visit further lower territory down to around 1.6857 - 1.6779. Its corrective attempts should fail ahead of 1.6857 - 1.7036. Stop loss above 1.7192 zone.
GBP-AUD	Resistances lie around 1.8264 and 1.8299. It should test lower towards 1.8156 zone. A clear break of 1.8216 would be bearish.
CAD-JPY	Currently uptrend should end around 87.8685 - 87.4050 area. A correction down to below 85.9310 is expected. A rise above 87.9680 will abort the expected correction.
NZD-JPY	It looks more likely that it would rise to 64.5390 - 64.8470 from 64.1230 or 63.9690. After which a downside move is expected.
AUD-JPY	It may attempt a test higher to 80.5050 - 80.7033 after which weakness may set it to a drift down to 79.9983 limit.
XAG-USD	Market should hold major support at 16.7287 before rising towards 17.1800 or even 17.3750 limit.
XAU-USD	Current fall is near an end of wave around 1073.2974 zone, a rally should then procede to above 1096.0493. Fall below 1062.6727 would cancel this scenario.

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.