Daily Market Comments - Friday 01 January 2010

[RTFX-Trading]

EUR-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.4440 or under 1.4306 limits.
USD-CHF	It is likely to fall towards 1.0311 - 1.0286 as its corrective rally could falter in 1.0361 - 1.0386 area. Stop above 1.0436 zone.
GBP-USD	One move lower to 1.6053 or 1.5957 is anticipated while below 1.6193 - 1.6240 area. Stop loss above 1.6332 zone.
USD-JPY	It should consolidate between 92.3103 and 93.4843. A break of one of these points would cause further bullish or bearish move.
USD-CAD	It looks more likely that it would rise to 1.0538 - 1.0593 from 1.0478 or 1.0450. After which a downside move is expected.
NZD-USD	Current rise should end around 0.7307. Objectives of this downmove are 0.7229 or 0.7182. A rise above 0.7338 is again bullish.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.9008 or 0.9023 if support around 0.8977 hold. After which a pullback to 0.8977 - 0.8961 zone is possible.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 134.1319 or 133.9284 if support around 133.1937 hold. After which a pullback to 133.1937 - 133.0100 zone is possible.
EUR-CHF	It looks set to visit further lower territory down to around 1.4829 - 1.4813. Its corrective attempts should fail ahead of 1.4854 or 1.4862. Stop loss above 1.4894 zone.
EUR-GBP	Current fall is near an end of wave around 0.8847 zone, a rally should then procede to above 0.8941. Fall below 0.8809 would cancel this scenario.
EUR-CAD	There are initial signs of a good corrective recovery towards 1.5110 or even 1.5136. Supports at 1.5037 and 1.4991 zone.
EUR-NZD	It should register further gains to 1.9821 while 1.9663 - 1.9610 caps downside attempts. Stop loss below 1.9504 zone.
EUR-AUD	Market should not go lower than 1.5952 - 1.5913. After this move down it should go up to 1.6012 - 1.6034 area.
GBP-CHF	While below 1.6720 - 1.6760 it is more likely to fall further towards 1.6645 or 1.6610. Premature rise above 1.6760 could see it rising above 1.6830 zone.
GBP-JPY	Currently uptrend should end around 152.1183 - 151.0267 area. A correction down to below 148.9437 is expected. A rise above 151.7333 will abort the expected correction.
GBP-CAD	A corrective rise should ideally test 1.7040 or even higher than 1.7151. Supports are at 1.6830. Stop loss below 1.6774 zone.
GBP-AUD	There are initial signs of a good corrective recovery towards 1.8010 or even 1.8050. Supports at 1.7926 and 1.7882 zone.
CAD-JPY	It should trade higher to 89.2313 while 88.3447 or 88.1210 offers support. Stop loss below 87.8973 zone.
NZD-JPY	No comment!
AUD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 84.2397 or 84.0980 if support around 83.3390 hold. After which a pullback to 83.3390 - 83.1385 zone is possible.
XAG-USD	No comment!
XAU-USD	While below 1098.4500 or 1099.4006 it could fall towards below 1091.7493 or 1085.0486. After which a corrective/consolidation activity is expected to 1102.7510 zone.

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