Daily Market Comments - Thursday 07 January 2010

[RTFX-Trading]

EUR-USD	It may attempt a test higher to 1.4421 - 1.4467 after which weakness may set it to a drift down to below 1.4315 limit.
USD-CHF	There is bearish potential for a fall to 1.0263 - 1.0224 while 1.0302 - 1.0328 resist. After this fall a recovery up to 1.0328 or 1.0355 is expected.
GBP-USD	It may attempt a test higher to 1.6041 - 1.6076 after which weakness may set it to a drift down to below 1.5950 limit.
USD-JPY	It should trade higher to 92.8613 while 92.1927 or 91.9220 offers support. Stop loss below 91.6513 zone.
USD-CAD	Market should not go lower than 1.0319 - 1.0288. After this move down it should go up to 1.0367 - 1.0385 area.
NZD-USD	It should trade higher to 0.7408 while 0.7341 or 0.7326 offers support. Stop loss below 0.7273 zone.
AUD-USD	Currently uptrend should end around 0.9219 - 0.9243 area. A correction down to below 0.9125 is expected. A rise above 0.9289 will abort the expected correction.
EUR-JPY	It looks set for gains to 133.9127. Supports at 132.1335 and 131.6817. A break of 130.3543 will damage this bullish structure.
EUR-CHF	It looks set to visit further lower territory down to around 1.4799 - 1.4780. Its corrective attempts should fail ahead of 1.4832 or 1.4845. Stop loss above 1.4884 zone.
EUR-GBP	It should be subject to more sell off towards 0.8942 or 0.8891. Corrective upward swings should face resistance around 0.9043 area. A break of 0.9064 is bullish.
EUR-CAD	It may meet resistance in 1.4875 - 1.4888 zone for a drift down to 1.4834 zone, after which bounce to 1.4930 is anticipated.
EUR-NZD	There is bearish potential for a fall to 1.9519 - 1.9480 while 1.9558 - 1.9582 resist. After this fall a recovery up to 1.9582 or 1.9606 is expected.
EUR-AUD	Support at 1.5656 or 1.5616 should hold the downside for a correction to above 1.5744 zone.
GBP-CHF	There is bearish potential for a fall to 1.6442 - 1.6378 while 1.6506 - 1.6548 resist. After this fall a recovery up to 1.6548 or 1.6590 is expected.
GBP-JPY	It may attempt a test higher to 148.1780 - 148.9017 after which weakness may set it to a drift down to below 146.4437 limit.
GBP-CAD	It looks set to visit further lower territory down to around 1.6518 - 1.6461. Its corrective attempts should fail ahead of 1.6518 - 1.6654. Stop loss above 1.6770 zone.
GBP-AUD	It might hold above 1.7395 or 1.7329 for a rise towards above 1.7549. Stop loss below 1.7241 zone.
CAD-JPY	Currently uptrend should end around 89.5545 - 90.0810 area. A correction down to 88.6960 - 88.3640 is expected. A rise above 90.7450 will abort the expected correction.
NZD-JPY	Corrective dips should ideally halt near 67.5460 or 67.3063 for one more thrust upwards towards 68.1860 - 68.5863 area or 69.0657 in extention. Fall below 66.5057 puts it back on a downward path.
AUD-JPY	It should try higher up to 85.0565 - 85.5977. Entry point 84.5153 or 84.1755. After this rise, a correction is expected.
XAG-USD	Currently uptrend should end around 18.4540 - 18.3700 area. A correction down to below 17.8840 is expected. A rise above 18.5400 will abort the expected correction.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1143.5586 or 1146.9493 if support around 1131.7747 hold. After which a pullback to 1131.7747 - 1127.4360 zone is possible.

Trading Desk, RTFX Ltd
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