Daily Market Comments - Friday 22 January 2010

[RTFX-Trading]

EUR-USD	It may meet resistance in 1.4084 - 1.4085 zone for a drift down to 1.4027 zone, after which bounce to 1.4142 is anticipated.
USD-CHF	There are initial signs of a good corrective recovery towards 1.0462 or even 1.0481. Supports at 1.0416 and 1.0389 zone.
GBP-USD	One more dip to 1.6160 - 1.6110 is likely followed by a grind higher to 1.6254 - 1.6296. After which it can resume its downtrend.
USD-JPY	There is bearish potential for a fall to 89.7453 while 90.8097 - 91.1535 resist. After this fall a recovery up to 91.1535 or 91.4973 is expected.
USD-CAD	Current rise should end around 1.0553. Objectives of this downmove are 1.0468 or 1.0411. A rise above 1.0582 is again bullish.
NZD-USD	It should register further gains to 0.7191 while 0.7053 - 0.7006 caps downside attempts. Stop loss below 0.6916 zone.
AUD-USD	Market should not go lower than 0.8920. After this move down it should go up to 0.9097 area.
EUR-JPY	Market should not go lower than 126.3851. After this move down it should go up to 128.8900 area.
EUR-CHF	It looks set to visit further lower territory down to around 1.4680 - 1.4661. Its corrective attempts should fail ahead of 1.4713 or 1.4726. Stop loss above 1.4766 zone.
EUR-GBP	It looks set for gains to 0.8725. Supports at 0.8676 and 0.8662. A break of 0.8627 will damage this bullish structure.
EUR-CAD	Current rise seems to be over near 1.4826 or 1.4861 for a retracement towards 1.4791 - 1.4772 area.
EUR-NZD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.9988 or 1.9945 if support around 1.9732 hold. After which a pullback to 1.9732 - 1.9677 zone is possible.
EUR-AUD	It should trade higher to 1.5732 while 1.5576 or 1.5535 offers support. Stop loss below 1.5495 zone.
GBP-CHF	There is bearish potential for a fall to 1.6832 while 1.6926 - 1.6954 resist. After this fall a recovery up to 1.6954 or 1.6982 is expected.
GBP-JPY	Market should not go lower than 146.2750 - 145.3303. After this move down it should go up to 147.7830 - 148.3463 area.
GBP-CAD	Currently uptrend should end around 1.7047 - 1.7087 area. A correction down to below 1.6965 is expected. A rise above 1.7130 will abort the expected correction.
GBP-AUD	It should try higher up to 1.7999 - 1.8087. Entry point 1.7912 or 1.7867. After this rise, a correction is expected.
CAD-JPY	Market should not go lower than 85.8480 - 85.1847. After this move down it should go up to 86.8820 - 87.2527 area.
NZD-JPY	Market should not go lower than 63.2775. After this move down it should go up to 65.6250 area.
AUD-JPY	Market should not go lower than 81.3430 - 80.4890. After this move down it should go up to 82.6345 - 83.0720 area.
XAG-USD	It may meet resistance in 17.4050 - 17.5993 zone for a drift down to 17.1457 zone, after which bounce to 17.8587 is anticipated.
XAU-USD	Current fall is near an end of wave around 1082.5166 zone, a rally should then procede to above 1111.9666. Fall below 1070.9333 would cancel this scenario.

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.