Daily Market Comments - Wednesday 06 January 2010

[RTFX-Trading]

EUR-USD	It looks more likely that it would rise to 1.4451 - 1.4536 from 1.4356 or 1.4313. After which a downside move is expected.
USD-CHF	It should be subject to more sell off towards 1.0294 or 1.0271. Corrective upward swings should face resistance around 1.0388 area. A break of 1.0424 is bullish.
GBP-USD	Market should not go lower than 1.5979 - 1.5920. After this move down it should go up to 1.6073 - 1.6108 area.
USD-JPY	Current fall is near an end of wave around 91.1260 zone, a rally should then procede to above 92.4240. Fall below 90.5410 would cancel this scenario.
USD-CAD	It should try higher up to 1.0406 - 1.0429. Entry point 1.0383 or 1.0363. After this rise, a correction is expected.
NZD-USD	Resistances lie around 0.7367 and 0.7384. It should test lower towards 0.7311 zone. A clear break of 0.7326 would be bearish.
AUD-USD	A corrective rise should ideally test 0.9164 or even higher than 0.9210. Supports are at 0.9090. Stop loss below 0.9047 zone.
EUR-JPY	Market should not go lower than 130.9191. After this move down it should go up to 132.6050 - 132.9870 area.
EUR-CHF	Our preferred outlook is for a drift down to 1.4824 or below 1.4800. Resistances are at 1.4848 and 1.4850. A rise above 1.4874 would delay but not abort this expected fall.
EUR-GBP	One move lower to 0.8947 or 0.8911 is anticipated while below 0.8999 - 0.9017 area. Stop loss above 0.9052 zone.
EUR-CAD	Market should not go lower than 1.4878. After this move down it should go up to 1.4996 area.
EUR-NZD	Market should not go lower than 1.9554 - 1.9506. After this move down it should go up to 1.9629 - 1.9656 area.
EUR-AUD	It may meet resistance in 1.5753 - 1.5777 zone for a drift down to 1.5719 zone, after which bounce to 1.5811 is anticipated.
GBP-CHF	It may meet resistance in 1.6526 - 1.6530 zone for a drift down to 1.6464 zone, after which bounce to 1.6592 is anticipated.
GBP-JPY	Market should pop up towards 147.8955 or 148.4783 this bullish scenario would be damaged if 146.3920 - 145.4713 zone is broken, a severe break down could then occur.
GBP-CAD	It may meet resistance in 1.6613 - 1.6655 zone for a drift down to 1.6529 zone, after which bounce to 1.6740 is anticipated.
GBP-AUD	It may meet resistance in 1.7536 - 1.7562 zone for a drift down to 1.7451 zone, after which bounce to 1.7646 is anticipated.
CAD-JPY	Market should pop up towards 88.6365 or 88.8713 this bullish scenario would be damaged if 88.1025 - 87.8033 zone is broken, a severe break down could then occur.
NZD-JPY	No comment!
AUD-JPY	There is bearish potential for a fall to 83.0917 while 83.8703 - 84.1345 resist. After this fall a recovery up to 84.1345 or 84.3987 is expected.
XAG-USD	One move lower to 17.5633 or 17.3417 is anticipated while below 17.8245 - 17.9353 area. Stop loss above 18.0857 zone.
XAU-USD	A corrective rise should ideally test 1125.9025 or even higher than 1133.7548. Supports are at 1110.3259. Stop loss below 1107.4948 zone.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

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