Daily Market Comments - Tuesday 26 January 2010

[RTFX-Trading]

EUR-USD	Our preferred view is for a drift down to 1.4122 or below 1.4092. Resistances is at 1.4130. A rise above 1.4187 would delay but not abort this expected fall.
USD-CHF	Market should hold major support at 1.0363 before rising towards 1.0424 or even 1.0452 limit.
GBP-USD	It should trade lower to 1.6170 or 1.6036 in extension while 1.6252 - 1.6304 offer resistance. A break of 1.6364 will damage this bearish view.
USD-JPY	It looks set for gains to 90.4730. Supports at 90.0490 and 89.9520. A break of 89.6250 will damage this bullish structure.
USD-CAD	Current upmove should continue to 1.0616 or 1.0654. Any correction should find support in 1.0574 - 1.0555 zone. A break above 1.0602 could accelerate the move up.
NZD-USD	Resistances lie around 0.7154 and 0.7167. It should test lower towards 0.7111 zone. A clear break of 0.7129 would be bearish.
AUD-USD	Resistances lie around 0.9067 and 0.9085. It should test lower towards 0.9006 zone. A clear break of 0.9017 would be bearish.
EUR-JPY	Current rise should end around 128.2317. Objectives of this downmove are 127.1797 or 126.6043. A rise above 128.7083 is again bullish.
EUR-CHF	Decline should be supported around 1.4698 - 1.4684 zone for rally to above 1.4734. A clear break of 1.4684 will damage this expected rally.
EUR-GBP	It looks more likely that it would rise to 0.8770 from 0.8708 or 0.8679. After which a downside move is expected.
EUR-CAD	While below 1.4988 - 1.5017 it is more likely to fall further towards 1.4934 or 1.4909. Premature rise above 1.5017 could see it rising above 1.5067 zone.
EUR-NZD	While below 1.9852 it is more likely to fall further towards 1.9759 level.
EUR-AUD	No comment!
GBP-CHF	Corrective dips should ideally halt near 1.6811 or 1.6780 for one more thrust upwards towards 1.6895 - 1.6949 area or 1.7009 in extention. Fall below 1.6673 puts it back on a downward path.
GBP-JPY	It should trade lower to 145.3563. Resistances are at 147.3493 and 148.0387. A break of 149.3423 is bullish, confirmed by a close above 148.5030.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.7197 or 1.7262 if support around 1.7127 hold. After which a pullback to 1.7127 - 1.7086 zone is possible.
GBP-AUD	It should test 1.8153 area after which a sell off down to 1.7818 or extended to 1.7584 area is expected.
CAD-JPY	It may attempt a test higher to 85.5175 - 85.7437 after which weakness may set it to a drift down to below 84.9027 limit.
NZD-JPY	Strength can extend to 64.5635 or even higher than 64.7497 as declines are expected to find support at 64.2210 or 64.0647. A fall below 63.6923 could turn it bearish.
AUD-JPY	No comment!
XAG-USD	Market should hold major support at 16.9677 before rising towards 17.2723 or even 17.4047 limit.
XAU-USD	While below 1101.3936 - 1104.3080 it is more likely to fall further towards 1095.5750 or 1092.6710. Premature rise above 1104.3080 could see it rising above 1110.1160 zone.

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.