Daily Market Comments - Tuesday 05 January 2010

[RTFX-Trading]

EUR-USD	It should try higher up to 1.4435 - 1.4494. Entry point 1.4376 or 1.4336. After this rise, a correction is expected.
USD-CHF	There is bearish potential for a fall to 1.0281 - 1.0235 while 1.0328 - 1.0360 resist. After this fall a recovery up to 1.0360 or 1.0392 is expected.
GBP-USD	It looks more likely that it would rise to 1.6198 - 1.6312 from 1.6071 or 1.6014. After which a downside move is expected.
USD-JPY	Bullish reaction to above 93.0880 is anticipated from 92.5120 - 92.3510 zone. Stop loss below 92.0630 zone.
USD-CAD	One more dip to 1.0384 is likely followed by a grind higher to 1.0506. After which it can resume its downtrend.
NZD-USD	It should try higher up to 0.7349 - 0.7399. Entry point 0.7298 or 0.7270. After this rise, a correction is expected.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.9161 or 0.9196 if support around 0.9067 hold. After which a pullback to 0.9067 - 0.9033 zone is possible.
EUR-JPY	It should try higher up to 133.5605 - 133.9520. Entry point 133.1690 or 132.8570. After this rise, a correction is expected.
EUR-CHF	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.4891 or under 1.4809 limits.
EUR-GBP	It should trade higher to 0.9000 while 0.8928 or 0.8909 offers support. Stop loss below 0.8890 zone.
EUR-CAD	It should try higher up to 1.5019 - 1.5052. Entry point 1.4985 or 1.4966. After this rise, a correction is expected.
EUR-NZD	No comment!
EUR-AUD	It looks set to visit further lower territory down to around 1.5782 - 1.5723. Its corrective attempts should fail ahead of 1.5782 - 1.5912. Stop loss above 1.6031 zone.
GBP-CHF	There is bearish potential for a fall to 1.6483 while 1.6632 - 1.6673 resist. After this fall a recovery up to 1.6673 or 1.6715 is expected.
GBP-JPY	Current move should be supported in 148.7180 - 148.0503 zone for a rise to 150.1113. A break below 147.3247 opens the way down.
GBP-CAD	Current fall is near an end of wave around 1.6648 zone, a rally should then procede to above 1.6896. Fall below 1.6542 would cancel this scenario.
GBP-AUD	Market should not go lower than 1.7617 - 1.7486. After this move down it should go up to 1.7816 - 1.7885 area.
CAD-JPY	Resistances lie around 89.1550 and 89.4083. It should test lower towards 88.3023 zone. A clear break of 88.5310 would be bearish.
NZD-JPY	It should try higher up to 68.0025 - 68.4093. Entry point 67.5957 or 67.3545. After this rise, a correction is expected.
AUD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 84.8754 or 84.9747 if support around 84.0233 hold. After which a pullback to 84.0233 - 83.7475 zone is possible.
XAG-USD	Current rise seems to be over near 17.5820 or 17.8287 for a retracement towards 17.3353 - 17.2095 area.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1130.2605 or 1132.3828 if support around 1112.9164 hold. After which a pullback to 1112.9164 - 1107.3885 zone is possible.

Trading Desk, RTFX Ltd
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