Daily Market Comments - Thursday 04 February 2010

[RTFX-Trading]

EUR-USD	It looks more likely that it would rise to 1.3984 - 1.4076 from 1.3889 or 1.3844. After which a downside move is expected.
USD-CHF	Corrective dips should ideally halt near 1.0547 or 1.0528 for one more thrust upwards towards 1.0598 - 1.0632 area or 1.0668 in extention. Fall below 1.0461 puts it back on a downward path.
GBP-USD	It looks more likely that it would rise to 1.6017 - 1.6140 from 1.5886 or 1.5824. After which a downside move is expected.
USD-JPY	Currently uptrend should end around 91.1310 - 91.4803 area. A correction down to below 90.2873 is expected. A rise above 91.9747 will abort the expected correction.
USD-CAD	It should trade lower to 1.0570. Resistances are at 1.0658 and 1.0691. A break of 1.0747 is bullish, confirmed by a close above 1.0695.
NZD-USD	There is bearish potential for a fall to 0.6969 while 0.7060 - 0.7087 resist. After this fall a recovery up to 0.7087 or 0.7114 is expected.
AUD-USD	No comment!
EUR-JPY	It looks more likely that it would rise to 126.9317 - 127.4563 from 126.1900 or 125.9277. After which a downside move is expected.
EUR-CHF	Preferred outlook is for a drift down to below 1.4688. Resistances are at 1.4720 and 1.4729. A rise above 1.4737 would delay but not abort this expected fall.
EUR-GBP	Currently uptrend should end around 0.8755 - 0.8771 area. A correction down to below 0.8711 is expected. A rise above 0.8800 will abort the expected correction.
EUR-CAD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.4840 or under 1.4737 limits.
EUR-NZD	Current rise seems to be over near 1.9800 or 1.9878 for a retracement towards 1.9723 - 1.9669 area.
EUR-AUD	A corrective rise should ideally test 1.5782 or even higher than 1.5830. Supports are at 1.5690. Stop loss below 1.5669 zone.
GBP-CHF	While above 1.6824 - 1.6788 zone a corrective dip could test 1.6859 or 1.6912. After which it should resume his downtrend.
GBP-JPY	It looks more likely that it would rise to 145.1937 - 145.7753 from 144.4215 or 144.1307. After which a downside move is expected.
GBP-CAD	While below 1.6903 it might drop to 1.6846 or below 1.6804 zone.
GBP-AUD	There are initial signs of a good corrective recovery to at least 1.8046 or even above 1.8080. Supports at 1.7932 zone.
CAD-JPY	While below 85.6300 or 85.6793 it could fall towards below 85.2437 or 84.8573. After which a corrective/consolidation activity is expected to 85.8725 zone.
NZD-JPY	There is bearish potential for a fall to 63.5323 while 64.1107 - 64.2930 resist. After this fall a recovery up to 64.2930 or 64.4753 is expected.
AUD-JPY	Difficult to predict the next move. If first down it should hold 80.0445 or 79.8343. If first up it should face resistance in 80.5060 - 80.7573 zone to 79.8343 zone.
XAG-USD	There is bearish potential for a fall to 16.1227 while 16.5313 - 16.6560 resist. After this fall a recovery up to 16.6560 or 16.7807 is expected.
XAU-USD	There are initial signs of a good corrective recovery towards 1117.4775 or even 1120.8867. Supports at 1108.5500 and 1103.0317 zone.

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