Daily Market Comments - Tuesday 02 February 2010

[RTFX-Trading]

EUR-USD	It may attempt a test higher to 1.3935 - 1.3962 after which weakness may set it to a drift down to below 1.3876 limit.
USD-CHF	There are initial signs of a good corrective recovery towards 1.0595 or even 1.0608. Supports at 1.0559 and 1.0536 zone.
GBP-USD	It should try higher up to 1.5969 - 1.6008. Entry point 1.5929 or 1.5904. After this rise, a correction is expected.
USD-JPY	Current upmove should be ended around 90.7790 - 91.0403. Any correction consolidation should find support in 90.3050 - 90.0923 zone.
USD-CAD	There is bearish potential for a fall to 1.0568 while 1.0644 - 1.0664 resist. After this fall a recovery up to 1.0664 or 1.0683 is expected.
NZD-USD	It should trade higher to 0.7122 while 0.7059 or 0.7040 offers support. Stop loss below 0.7021 zone.
AUD-USD	Market should hold major support at 0.8817 before rising towards 0.8959 or even 0.9005 limit.
EUR-JPY	It should trade lower to 125.4905 or 124.0650 in extension while 126.3740 - 126.9160 offer resistance. A break of 127.5990 will damage this bearish view.
EUR-CHF	Our preferred view is for a drift down to 1.4665. Resistances is at 1.4705. A rise above 1.4735 would delay but not abort this expected fall.
EUR-GBP	While below 0.8749 - 0.8771 it is more likely to fall further towards 0.8707 or 0.8686. Premature rise above 0.8771 could see it rising above 0.8813 zone.
EUR-CAD	There is bearish potential for a fall to 1.4778 - 1.4737 while 1.4818 - 1.4839 resist. After this fall a recovery up to 1.4839 or 1.4859 is expected.
EUR-NZD	No comment!
EUR-AUD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.5814 or under 1.5613 limits.
GBP-CHF	Current fall is near an end of wave around 1.6777 zone, a rally should then procede to above 1.6948. Fall below 1.6697 would cancel this scenario.
GBP-JPY	It should test 145.8409 area after which a sell off down to 143.4800 or extended to 142.3640 area is expected.
GBP-CAD	It looks set to visit further lower territory down to around 1.6924 - 1.6869. Its corrective attempts should fail ahead of 1.6924 - 1.7035. Stop loss above 1.7145 zone.
GBP-AUD	Market should not go lower than 1.7896 - 1.7831. After this move down it should go up to 1.7998 - 1.8034 area.
CAD-JPY	Current rise seems to be over near 85.4425 or 85.8793 for a retracement towards 85.0057 - 84.7835 area.
NZD-JPY	Current rise seems to be over near 64.2990 or 64.7027 for a retracement towards 63.8953 - 63.6420 area.
AUD-JPY	If market stays below 80.8330 a fall to 79.7617 is expected. If market breaks the point 81.3367 it could reach the sky.
XAG-USD	Current rise seems to be over near 16.6860 or 16.8810 for a retracement towards 16.4910 - 16.3855 area.
XAU-USD	Current rise seems to be over near 1106.7449 or 1116.7098 for a retracement towards 1096.7799 - 1091.2173 area.

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

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