Daily Market Comments - Wednesday 20 January 2010

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.4270 - 1.4222. After this move down it should go up to 1.4351 - 1.4384 area.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0351 or 1.0378 if support around 1.0304 hold. After which a pullback to 1.0304 - 1.0279 zone is possible.
GBP-USD	Resistances lie around 1.6409 and 1.6442. It should test lower towards 1.6297 zone. A clear break of 1.6315 would be bearish.
USD-JPY	Corrective dips should ideally halt near 90.7370 or 90.5610 for one more thrust upwards towards 91.2075 - 91.5020 area or 91.8540 in extention. Fall below 89.9720 puts it back on a downward path.
USD-CAD	Currently uptrend should end around 1.0331 - 1.0358 area. A correction down to below 1.0259 is expected. A rise above 1.0403 will abort the expected correction.
NZD-USD	No comment!
AUD-USD	It may attempt a test higher to 0.9253 - 0.9279 after which weakness may set it to a drift down to 0.9180 limit.
EUR-JPY	While below 130.4740 it is more likely to fall further towards 129.6737 level.
EUR-CHF	Any possible decline should be supported around 1.4736 - 1.4717 zone for rally to above 1.4801. A clear break of 1.4694 will damage this expected rally.
EUR-GBP	One more dip to 0.8723 - 0.8693 is likely followed by a grind higher to 0.8771 - 0.8791. After which it can resume its downtrend.
EUR-CAD	No comment!
EUR-NZD	It may attempt a test higher to 1.9473 - 1.9528 after which weakness may set it to a drift down to 1.9321 limit.
EUR-AUD	Market should not go lower than 1.5454 - 1.5407. After this move down it should go up to 1.5535 - 1.5570 area.
GBP-CHF	Current upmove should be ended around 1.6919 - 1.6979. Any correction consolidation should find support in 1.6817 - 1.6776 zone.
GBP-JPY	Current rise seems to be over near 149.3010 or 149.7290 for a retracement towards 148.8730 - 148.5760 area.
GBP-CAD	Current upmove should be ended around 1.6897 - 1.6943. Any correction consolidation should find support in 1.6815 - 1.6780 zone.
GBP-AUD	Strength can extend to 1.7766 or 1.7811 as declines are expected to find support at 1.7721 or 1.7677. A fall below 1.7633 could turn it bearish.
CAD-JPY	It should trade higher to above 88.6437 while 88.2583 offer support. Minor support at 87.9907. Stop Loss below 87.6053 zone.
NZD-JPY	One more dip to 66.8250 or 66.6183 is likely followed by a grind higher to 67.2350 - 67.4383. After which it can resume its downtrend.
AUD-JPY	It looks set for gains to 84.5427. Supports at 83.7580 and 83.5617. A break of 82.9733 will damage this bullish structure.
XAG-USD	Current rise seems to be over near 18.8030 or 18.9143 for a retracement towards 18.6917 - 18.6140 area.
XAU-USD	Currently uptrend should end around 1139.6135 - 1143.1340 area. A correction down to 1133.7135 - 1131.3340 is expected. A rise above 1147.8931 will abort the expected correction.

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

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.