Daily Market Comments - Tuesday 12 January 2010

[RTFX-Trading]

EUR-USD	One move lower to 1.4429 or 1.4345 is anticipated while below 1.4535 - 1.4577 area. Stop loss above 1.4640 zone.
USD-CHF	It may meet resistance in 1.0165 - 1.0179 zone for a drift down to 1.0117 zone, after which bounce to 1.0228 is anticipated.
GBP-USD	Should test support at 1.6044 while below 1.6115. If support at 1.6044 holds it can rise up to 1.6191, if not it should fall to below 1.5972 zone.
USD-JPY	It may meet resistance in 92.0850 - 92.1857 zone for a drift down to 91.7123 zone, after which bounce to 92.5583 is anticipated.
USD-CAD	It should test 1.0412 area after which a sell off down to 1.0277 or extended to 1.0219 area is expected.
NZD-USD	One move lower to 0.7385 or 0.7357 is anticipated while below 0.7425 - 0.7439 area. Stop loss above 0.7465 zone.
AUD-USD	Should test support at 0.9273 while below 0.9296. If support at 0.9273 holds it can rise up to 0.9322, if not it should fall to below 0.9250 zone.
EUR-JPY	Resistances lie around 134.0115 and 134.2080. It should test lower towards 133.2510 zone. A clear break of 133.1310 would be bearish.
EUR-CHF	It is likely to fall towards 1.4719 - 1.4686 unless a corrective rally breaks the 1.4774 resistance. Stop above 1.4790 zone.
EUR-GBP	Current rise should end around 0.9031. Objectives of this downmove are 0.8976 or 0.8947. A rise above 0.9056 is again bullish.
EUR-CAD	Current rise seems to be over near 1.5011 or 1.5073 for a retracement towards 1.4949 - 1.4912 area.
EUR-NZD	It should try higher up to 1.9608 - 1.9648. Entry point 1.9568 or 1.9532. After this rise, a correction is expected.
EUR-AUD	It looks set for gains to 1.5669. Supports at 1.5566 and 1.5538. A break of 1.5463 will damage this bullish structure.
GBP-CHF	It is likely to fall towards 1.6350 - 1.6312 as its corrective rally could falter in 1.6422 - 1.6456 area. Stop above 1.6531 zone.
GBP-JPY	It looks more likely that it would rise to 149.3113 - 150.2207 from 148.2420 or 147.7873. After which a downside move is expected.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6746 or 1.6743 if support around 1.6618 hold. After which a pullback to 1.6618 - 1.6574 zone is possible.
GBP-AUD	It should trade higher to above 1.7406 while 1.7298 - 1.7263 offer support. Stop Loss below 1.7190 zone.
CAD-JPY	Market should not go lower than 89.0110 - 88.6453. After this move down it should go up to 89.6015 - 89.8263 area.
NZD-JPY	There are initial signs of a good corrective recovery to at least 68.5577 or even above 68.8463. Supports at 68.1420 zone.
AUD-JPY	While below 85.6050 or 85.7213 it could fall towards below 85.2307 or 84.8563. After which a corrective/consolidation activity is expected to 85.9085 zone.
XAG-USD	Resistances lie around 18.7300 and 18.8200. It should test lower towards 18.3840 zone. A clear break of 18.3360 would be bearish.
XAU-USD	While below 1156.8967 - 1163.0957 it is more likely to fall further towards 1145.0483 or 1139.3988. Premature rise above 1163.0957 could see it rising above 1174.3948 zone.

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

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