Daily Market Comments - Monday 01 February 2010

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.3808. After this move down it should go up to 1.3946 area.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0645 or 1.0672 if support around 1.0577 hold. After which a pullback to 1.0577 - 1.0544 zone is possible.
GBP-USD	Market should not go lower than 1.5983 - 1.5917. After this move down it should go up to 1.6081 - 1.6114 area.
USD-JPY	Strength can extend to 90.9163 as declines are expected to find support at 89.9225. A fall below 89.5913 could turn it bearish.
USD-CAD	It should trade lower to 1.0645. Resistances are at 1.0717 and 1.0741. A break of 1.0788 is bullish, confirmed by a close above 1.0756.
NZD-USD	There is bearish potential for a fall to 0.6991 while 0.7040 - 0.7053 resist. After this fall a recovery up to 0.7053 or 0.7065 is expected.
AUD-USD	It might hold above 0.8847 or 0.8809 for a rise towards above 0.8924. Stop loss below 0.8770 zone.
EUR-JPY	There is bearish potential for a fall to 124.3923 while 125.5517 - 125.9190 resist. After this fall a recovery up to 125.9190 or 126.2863 is expected.
EUR-CHF	If market stays below 1.4735 a fall to 1.4639 is expected. If market breaks the point 1.4768 it could reach the sky.
EUR-GBP	It looks set for gains to 0.8701. Supports at 0.8652 and 0.8639. A break of 0.8603 will damage this bullish structure.
EUR-CAD	One more dip to 1.4796 - 1.4753 is likely followed by a grind higher to 1.4873 - 1.4908. After which it can resume its downtrend.
EUR-NZD	It is likely to fall towards 1.9663 - 1.9565 unless a corrective rally breaks the 1.9812 resistance. Stop above 1.9861 zone.
EUR-AUD	It should trade higher to 1.5702 or above 1.5735 in extention. Supports at 1.5624 and 1.5608. Stop loss below 1.5546 zone.
GBP-CHF	One more dip to 1.6913 - 1.6873 is likely followed by a grind higher to 1.6992 - 1.7032. After which it can resume his downtrend.
GBP-JPY	There is bearish potential for a fall to 143.5830 while 144.9190 - 145.2540 resist. After this fall a recovery up to 145.2540 or 145.5890 is expected.
GBP-CAD	Market should not go lower than 1.7066 - 1.7003. After this move down it should go up to 1.7171 - 1.7214 area.
GBP-AUD	It looks set for gains to 1.8151. Supports at 1.8011 and 1.7968. A break of 1.7871 will damage this bullish structure.
CAD-JPY	It looks more likely that it would rise to 85.2610 - 86.1060 from 84.1385 or 83.7160. After which a downside move is expected.
NZD-JPY	It looks more likely that it would rise to 64.1123 - 64.9067 from 63.1035 or 62.7063. After which a downside move is expected.
AUD-JPY	There is bearish potential for a fall to 79.2637 while 80.2663 - 80.5605 resist. After this fall a recovery up to 80.5605 or 80.8547 is expected.
XAG-USD	Market should hold major support at 15.8993 before rising towards 16.3630 or even 16.5240 limit.
XAU-USD	It is likely to fall towards 1073.9666 - 1066.3333 unless a corrective rally breaks the 1086.2000 resistance. Stop above 1090.0166 zone.

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

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