Daily Market Comments - Friday 08 January 2010

[RTFX-Trading]

EUR-USD	Prefer a fall to 1.4304 or 1.4256. Then a correction to 1.4377 is anticipated. A clear break of 1.4204 is again bearish.
USD-CHF	It should trade higher to 1.0394 while 1.0292 or 1.0265 offers support. Stop loss below 1.0190 zone.
GBP-USD	No comment!
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 93.9445 or 93.7920 if support around 92.9530 hold. After which a pullback to 92.9530 - 92.7270 zone is possible.
USD-CAD	It may attempt a test higher to 1.0360 - 1.0382 after which weakness may set it to a drift down to below 1.0301 limit.
NZD-USD	While above 0.7316 - 0.7278 zone a corrective dip could test 0.7354 or 0.7395. After which it should resume his downtrend.
AUD-USD	There are initial signs of a good corrective recovery towards 0.9219 or even 0.9239. Supports at 0.9167 and 0.9134 zone.
EUR-JPY	Currently uptrend should end around 134.0901 - 134.0353 area. A correction down to below 132.7653 is expected. A rise above 134.4847 will abort the expected correction.
EUR-CHF	It is likely to fall towards 1.4764 - 1.4732 unless a corrective rally breaks the 1.4818 resistance. Stop above 1.4834 zone.
EUR-GBP	There are initial signs of a good corrective recovery towards 0.9003 or even 0.9011. Supports at 0.8980 and 0.8964 zone.
EUR-CAD	It looks set to visit further lower territory down to around 1.4788 - 1.4752. Its corrective attempts should fail ahead of 1.4788 - 1.4874. Stop loss above 1.4947 zone.
EUR-NZD	It should trade higher to 1.9614 or above 1.9680 in extention. Supports at 1.9494 and 1.9461. Stop loss below 1.9373 zone.
EUR-AUD	It may meet resistance in 1.5596 - 1.5618 zone for a drift down to 1.5558 zone, after which bounce to 1.5656 is anticipated.
GBP-CHF	It should test 1.6518 area after which a sell off down to 1.6420 or extended to 1.6365 area is expected.
GBP-JPY	Currently uptrend should end around 148.7570 - 149.3197 area. A correction down to 147.9130 - 147.6317 is expected. A rise above 149.8823 will abort the expected correction.
GBP-CAD	Market should hold major support at 1.6353 before rising towards 1.6560 or even 1.6635 limit.
GBP-AUD	Upside potential exists for a rise to above 1.7430. Supports are at 1.7368 and 1.7338 zone.
CAD-JPY	Currently uptrend should end around 91.0402 - 90.7847 area. A correction down to below 89.3507 is expected. A rise above 91.3223 will abort the expected correction.
NZD-JPY	While below 68.4630 - 68.6810 it is more likely to fall further towards 68.0760 or 67.9070. Premature rise above 68.6810 could see it rising above 69.0190 zone.
AUD-JPY	Currently uptrend should end around 86.5027 - 85.9927 area. A correction down to below 84.9717 is expected. A rise above 86.3403 will abort the expected correction.
XAG-USD	While below 18.2990 - 18.3823 it is more likely to fall further towards 18.1410 or 18.0663. Premature rise above 18.3823 could see it rising above 18.5317 zone.
XAU-USD	There are initial signs of a good corrective recovery towards 1135.4346 or even 1137.6954. Supports at 1130.1870 and 1127.2004 zone.

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