Daily Market Comments - Tuesday 29 December 2009

[RTFX-Trading]

EUR-USD	Our preferred outlook is for a drift down to 1.4351 or below 1.4322. Resistances are at 1.4379 and 1.4382. A rise above 1.4411 would delay but not abort this expected fall.
USD-CHF	One more dip to 1.0338 - 1.0321 is likely followed by a grind higher to 1.0369 - 1.0382. After which it can resume its downtrend.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6024 or 1.6034 if support around 1.5983 hold. After which a pullback to 1.5983 - 1.5967 zone is possible.
USD-JPY	It may attempt a test higher to 91.6955 - 91.7893 after which weakness may set it to a drift down to 91.4433 limit.
USD-CAD	Market should not go lower than 1.0424 - 1.0398. After this move down it should go up to 1.0465 - 1.0481 area.
NZD-USD	While below 0.7088 - 0.7100 it is more likely to fall further towards 0.7067 or 0.7058. Premature rise above 0.7100 could see it rising above 0.7118 zone.
AUD-USD	While below 0.8881 - 0.8899 it is more likely to fall further towards 0.8849 or 0.8834. Premature rise above 0.8899 could see it rising above 0.8927 zone.
EUR-JPY	It should find support in 131.5765 - 131.4573 area for a rally to 132.2317. Unexpected fall below 131.1597 will dent this bullish view.
EUR-CHF	Preferred outlook is for a drift down to below 1.4845. Resistances are at 1.4879 and 1.4890. A rise above 1.4899 would delay but not abort this expected fall.
EUR-GBP	Our preferred outlook is for a drift down to 0.8973 or below 0.8960. Resistances are at 0.8986 and 0.8996. A rise above 0.9009 would delay but not abort this expected fall.
EUR-CAD	It looks more likely that it would rise to 1.5076 - 1.5157 from 1.4990 or 1.4950. After which a downside move is expected.
EUR-NZD	It should be subject to more weakness towards 2.0263. After which a correction to above 2.0362 is anticipated. A break of 2.0219 is bearish.
EUR-AUD	It looks set to visit further lower territory down to around 1.6199 - 1.6171. Its corrective attempts should fail ahead of 1.6199 - 1.6267. Stop loss above 1.6323 zone.
GBP-CHF	Market should hold major support at 1.6512 before rising towards 1.6583 or even 1.6609 limit.
GBP-JPY	It should trade higher to 146.9260 while 146.3890 or 146.2385 offers support. Stop loss below 146.0880 zone.
GBP-CAD	Current move should be supported in 1.6677 - 1.6642 zone for a rise to 1.6757. A break below 1.6597 opens the way down.
GBP-AUD	Market should hold major support at 1.7928 before rising towards 1.8090 or even 1.8139 limit.
CAD-JPY	It should trade higher to 88.1543 while 87.4930 or 87.3483 offers support. Stop loss below 86.8317 zone.
NZD-JPY	Currently uptrend should end around 64.9338 - 65.0433 area. A correction down to below 64.5823 is expected. A rise above 65.2347 will abort the expected correction.
AUD-JPY	Currently uptrend should end around 81.5203 - 81.5050 area. A correction down to below 80.9170 is expected. A rise above 81.7350 will abort the expected correction.
XAG-USD	Should test support at 17.4123 while below 17.5130. If support at 17.4123 holds it can rise up to 17.6363, if not it should fall to below 17.3117 zone.
XAU-USD	Should test support at 1101.2073 while below 1107.0970. If support at 1101.2073 holds it can rise up to 1113.4823, if not it should fall to below 1095.3171 zone.

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.