Daily Market Comments - Monday 22 February 2010

[RTFX-Trading]

EUR-USD	It should trade higher to 1.3654 or above 1.3713 in extention. Supports at 1.3519 and 1.3489. Stop loss below 1.3384 zone.
USD-CHF	It looks more likely that it would rise to 1.0858 - 1.0947 from 1.0766 or 1.0721. After which a downside move is expected.
GBP-USD	It should try higher up to 1.5500 - 1.5551. Entry point 1.5450 or 1.5401. After this rise, a correction is expected.
USD-JPY	There are initial signs of a good corrective recovery towards 91.89 or even 91.98. Supports at 91.62 and 91.44 zone.
USD-CAD	There is bearish potential for a fall to 1.0352 while 1.0441 - 1.0467 resist. After this fall a recovery up to 1.0467 or 1.0494 is expected.
NZD-USD	It should test 0.7028 area after which a sell off down to 0.6945 or extended to 0.6906 area is expected.
AUD-USD	It should test 0.9081 area after which a sell off down to 0.8912 or extended to 0.8841 area is expected.
EUR-JPY	It looks set for gains to 125.06. Supports at 124.05 and 123.81. A break of 123.05 will damage this bullish structure.
EUR-CHF	Preferred outlook is for a drift down to below 1.4617. Resistances are at 1.4641 and 1.4652. A rise above 1.4658 would delay but not abort this expected fall.
EUR-GBP	No comment!
EUR-CAD	It looks set to visit further lower territory down to around 1.4123 - 1.4088. Its corrective attempts should fail ahead of 1.4123 - 1.4215. Stop loss above 1.4285 zone.
EUR-NZD	Current rise seems to be over near 1.9484 or 1.9537 for a retracement towards 1.9432 - 1.9395 area.
EUR-AUD	Current upmove should be ended around 1.5153 - 1.5173. Any correction consolidation should find support in 1.5113 - 1.5093 zone.
GBP-CHF	Market should not go lower than 1.6550. After this move down it should go up to 1.6778 area.
GBP-JPY	One more dip to 141.25 - 140.77 is likely followed by a grind higher to 142.15 - 142.57. After which it can resume its downtrend.
GBP-CAD	Market should not go lower than 1.5935. After this move down it should go up to 1.6220 area.
GBP-AUD	Market should not go lower than 1.7126. After this move down it should go up to 1.7330 area.
CAD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 88.25 or 88.54 if support around 87.85 hold. After which a pullback to 87.85 - 87.62 zone is possible.
NZD-JPY	It should trade higher to 64.32 or above 64.64 in extention. Supports at 63.80 and 63.64. Stop loss below 63.27 zone.
AUD-JPY	Corrective dips should ideally halt near 81.97 or 81.79 for one more thrust upwards towards 82.42 - 82.68 area or 83.05 in extention. Fall below 81.26 puts it back on a downward path.
XAG-USD	Current rise seems to be over near 16.39 or 16.60 for a retracement towards 16.18 - 16.02 area.
XAU-USD	Currently uptrend should end around 1122.43 - 1130.15 area. A correction down to 1108.53 - 1102.35 is expected. A rise above 1142.50 will abort the expected correction.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
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