Daily Market Comments - Friday 25 December 2009

[RTFX-Trading]

EUR-USD	Should test support at 1.4314 while below 1.4356. If support at 1.4314 holds it can rise up to 1.4409, if not it should fall to below 1.4271 zone.
USD-CHF	It should try higher up to 1.0392 - 1.0416. Entry point 1.0369 or 1.0353. After this rise, a correction is expected.
GBP-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.6023 or under 1.5928 limits.
USD-JPY	It should test 92.3900 area after which a sell off down to 91.3420 or extended to 90.9180 area is expected.
USD-CAD	It should try higher up to 1.0490 - 1.0503. Entry point 1.0476 or 1.0467. After this rise, a correction is expected.
NZD-USD	Resistances lie around 0.7065 and 0.7076. It should test lower towards 0.7026 zone. A clear break of 0.7031 would be bearish.
AUD-USD	While below 0.8842 - 0.8862 it is more likely to fall further towards 0.8803 or 0.8784. Premature rise above 0.8862 could see it rising above 0.8900 zone.
EUR-JPY	Currently uptrend should end around 131.8821 - 132.1167 area. A correction down to below 131.1376 is expected. A rise above 132.4883 will abort the expected correction.
EUR-CHF	It should test 1.4923 area after which a sell off down to 1.4884 or extended to 1.4859 area is expected.
EUR-GBP	Current rise should end around 0.9031. Objectives of this downmove are 0.8980 or 0.8948. A rise above 0.9051 is again bullish.
EUR-CAD	While below 1.5059 it might drop to 1.5016 or below 1.4979 zone.
EUR-NZD	It should find support in 2.0334 - 2.0301 area for a rally to 2.0501. Unexpected fall below 2.0232 will dent this bullish view.
EUR-AUD	Our preferred outlook is for a drift down to 1.6235 or below 1.6200. Resistances are at 1.6269 and 1.6276. A rise above 1.6311 would delay but not abort this expected fall.
GBP-CHF	It may meet resistance in 1.6544 - 1.6556 zone for a drift down to 1.6489 zone, after which bounce to 1.6610 is anticipated.
GBP-JPY	Market should hold major support at 145.7077 before rising towards 146.5273 or even 146.8616 limit.
GBP-CAD	It should register further gains to 1.6764 while 1.6668 - 1.6632 caps downside attempts. Stop loss below 1.6572 zone.
GBP-AUD	Market should not go lower than 1.8006. After this move down it should go up to 1.8134 area.
CAD-JPY	Current upmove should end around 87.6212 - 87.7817 area. A correction down to 87.0987 or even 86.6863 is expected. A rise above 88.0523 will abort the expected correction.
NZD-JPY	Currently uptrend should end around 64.7538 - 64.7813 area. A correction down to below 64.4693 is expected. A rise above 64.8877 will abort the expected correction.
AUD-JPY	Currently uptrend should end around 81.0710 - 81.1613 area. A correction down to below 80.6163 is expected. A rise above 81.3467 will abort the expected correction.
XAG-USD	While below 17.4020 - 17.5003 it is more likely to fall further towards 17.2375 or 17.1713. Premature rise above 17.5003 could see it rising above 17.6327 zone.
XAU-USD	Strength can extend to 1103.5121 or 1108.8738 as declines are expected to find support at 1098.1504 or 1094.1497. A fall below 1090.1488 could turn it bearish.

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.