Daily Market Comments - Friday 29 January 2010

[RTFX-Trading]

EUR-USD	One more dip to 1.3954 - 1.3921 is likely followed by a grind higher to 1.4012 - 1.4037. After which it can resume its downtrend.
USD-CHF	While below 1.0539 - 1.0559 it is more likely to fall further towards 1.0500 or 1.0481. Premature rise above 1.0559 could see it rising above 1.0596 zone.
GBP-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.6276 or under 1.6113 limits.
USD-JPY	It looks more likely that it would rise to 90.4363 - 90.9527 from 89.7765 or 89.5183. After which a downside move is expected.
USD-CAD	It may attempt a test higher to 1.0667 - 1.0704 after which weakness may set it to a drift down to 1.0590 limit.
NZD-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 0.7138 or under 0.7039 limits.
AUD-USD	It looks more likely that it would rise to 0.9019 - 0.9093 from 0.8938 or 0.8901. After which a downside move is expected.
EUR-JPY	There is bearish potential for a fall to 125.3665 - 124.7920 while 125.9410 - 126.3590 resist. After this fall a recovery up to 126.3590 or 126.7770 is expected.
EUR-CHF	It looks set to visit further lower territory down to around 1.4682. Its corrective attempts should fail ahead of 1.4729. Stop loss above 1.4757 zone.
EUR-GBP	Market should hold major support at 0.8572 before rising towards 0.8689 or even 0.8720 limit.
EUR-CAD	Market should hold major support at 1.4778 before rising towards 1.4955 or even 1.5011 limit.
EUR-NZD	Market should hold major support at 1.9662 before rising towards 1.9923 or even 2.0026 limit.
EUR-AUD	Market should hold major support at 1.5495 before rising towards 1.5694 or even 1.5770 limit.
GBP-CHF	There are initial signs of a good corrective recovery towards 1.7046 or even 1.7079. Supports at 1.6964 and 1.6914 zone.
GBP-JPY	There are initial signs of a good corrective recovery towards 146.1650 or even 146.6733. Supports at 144.8745 and 144.0923 zone.
GBP-CAD	It should be subject to more sell off towards 1.7155 or 1.7127. Corrective upward swings should face resistance around 1.7286 area. A break of 1.7320 is bullish.
GBP-AUD	It should trade lower to 1.7990 or 1.7872 in extension while 1.8066 - 1.8108 offer resistance. A break of 1.8177 will damage this bearish view.
CAD-JPY	There are initial signs of a good corrective recovery towards 84.9870 or even 85.2667. Supports at 84.2360 and 83.7647 zone.
NZD-JPY	It looks more likely that it would rise to 64.2573 - 65.1257 from 63.2845 or 62.8503. After which a downside move is expected.
AUD-JPY	It looks more likely that it would rise to 81.4347 - 82.4273 from 80.3230 or 79.8267. After which a downside move is expected.
XAG-USD	It is likely to fall towards 15.9267 - 15.6023 unless a corrective rally breaks the 16.4985 resistance. Stop above 16.6607 zone.
XAU-USD	It may attempt a test higher to 1091.7098 - 1097.5148 after which weakness may set it to a drift down to 1075.4899 limit.

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