Daily Market Comments - Wednesday 03 February 2010

[RTFX-Trading]

EUR-USD	Current rise seems to be over near 1.3970 or 1.3997 for a retracement towards 1.3942 - 1.3925 area.
USD-CHF	There is bearish potential for a fall to 1.0525 while 1.0566 - 1.0578 resist. After this fall a recovery up to 1.0578 or 1.0590 is expected.
GBP-USD	It should trade higher to 1.6012 or above 1.6050 in extention. Supports at 1.5939 and 1.5920. Stop loss below 1.5866 zone.
USD-JPY	It looks more likely that it would rise to 90.7747 - 91.1693 from 90.3220 or 90.1247. After which a downside move is expected.
USD-CAD	Support at 1.0568 or 1.0544 should hold the downside for a correction to above 1.0617 zone.
NZD-USD	Current rise seems to be over near 0.7125 or 0.7152 for a retracement towards 0.7098 - 0.7083 area.
AUD-USD	It looks set for gains to 0.8934. Supports at 0.8822 and 0.8787. A break of 0.8711 will damage this bullish structure.
EUR-JPY	There are initial signs of a good corrective recovery towards 126.4520 or even 126.6603. Supports at 126.0190 and 125.7943 zone.
EUR-CHF	If market stays below 1.4737 a fall to around 1.4689 is expected. If market breaks the point 1.4748 it could reach the sky.
EUR-GBP	While below 0.8752 - 0.8766 it is more likely to fall further towards 0.8726 or 0.8713. Premature rise above 0.8766 could see it rising above 0.8791 zone.
EUR-CAD	One more dip to 1.4744 - 1.4720 is likely followed by a grind higher to 1.4788 - 1.4808. After which it can resume his downtrend.
EUR-NZD	Market should not go lower than 1.9601 - 1.9552. After this move down it should go up to 1.9677 - 1.9705 area.
EUR-AUD	Strength can extend to 1.5881 as declines are expected to find support at 1.5672. A fall below 1.5609 could turn it bearish.
GBP-CHF	Current fall is near an end of wave around 1.6803 zone, a rally should then procede to above 1.6901. Fall below 1.6754 would cancel this scenario.
GBP-JPY	Current move should be supported in 144.1195 - 143.7570 zone for a rise to 145.0990. A break below 143.1400 opens the way down.
GBP-CAD	It may meet resistance in 1.6884 - 1.6887 zone for a drift down to 1.6817 zone, after which bounce to 1.6954 is anticipated.
GBP-AUD	Current upmove should continue up to 1.8148 or 1.8274. Any correction should find support in 1.8015 - 1.7952 zone. A break above1.8053 could accelerate the move up.
CAD-JPY	While below 85.7125 - 85.9543 it is more likely to fall further towards 85.2485 or 85.0263. Premature rise above 85.9543 could see it rising above 86.3987 zone.
NZD-JPY	Currently uptrend should end around 64.7449 - 64.6010 area. A correction down to below 63.9890 is expected. A rise above 64.8340 will abort the expected correction.
AUD-JPY	While above 79.8075 - 79.3597 zone a corrective dip could test 80.2553 or 81.0087. After which it should resume his downtrend.
XAG-USD	One move lower to 16.5747 or 16.4393 is anticipated while below 16.7550 - 16.8227 area. Stop loss above 16.9353 zone.
XAU-USD	One move lower to 1102.9447 or 1091.3944 is anticipated while below 1116.4225 - 1122.1976 area. Stop loss above 1129.9003 zone.

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