Daily Market Comments - Monday 01 March 2010

[RTFX-Trading]

EUR-USD	While below 1.3650 - 1.3690 it is more likely to fall further towards 1.3573 or 1.3537. Premature rise above 1.3690 could see it rising above 1.3763 zone.
USD-CHF	Current fall is near an end of wave around 1.0685 zone, a rally should then procede to above 1.0807. Fall below 1.0629 would cancel this scenario.
GBP-USD	Market should hold major support at 1.5107 before rising towards 1.5329 or even 1.5409 limit.
USD-JPY	It looks set to visit further lower territory down to around 88.80 - 88.56. Its corrective attempts should fail ahead of 88.80 - 89.31. Stop loss above 89.78 zone.
USD-CAD	There is bearish potential for a fall to 1.0486 while 1.0553 - 1.0572 resist. After this fall a recovery up to 1.0572 or 1.0592 is expected.
NZD-USD	Currently uptrend should end around 0.7014 - 0.7030 area. A correction down to below 0.6920 is expected. A rise above 0.7078 will abort the expected correction.
AUD-USD	It should trade higher to 0.9006 while 0.8935 or 0.8913 offers support. Stop loss below 0.8890 zone.
EUR-JPY	It is likely to fall towards 120.44 - 119.91 unless a corrective rally breaks the 121.32 resistance. Stop above 121.58 zone.
EUR-CHF	Our preferred outlook is for a drift down to 1.4620 or below 1.4614. Resistances are at 1.4626 and 1.4632. A rise above 1.4638 would delay but not abort this expected fall.
EUR-GBP	One move lower to 0.8873 or 0.8817 is anticipated while below 0.8951 - 0.8979 area. Stop loss above 0.9029 zone.
EUR-CAD	There are initial signs of a good corrective recovery towards 1.4386 or even 1.4409. Supports at 1.4325 and 1.4287 zone.
EUR-NZD	Market should pop up towards 1.9554 or 1.9595 this bullish scenario would be damaged if 1.9467 - 1.9420 zone is broken, a severe break down could then occur.
EUR-AUD	There are initial signs of a good corrective recovery towards 1.5244 or even 1.5264. Supports at 1.5187 and 1.5151 zone.
GBP-CHF	It may meet resistance in 1.6400 - 1.6442 zone for a drift down to below 1.6295 zone.
GBP-JPY	It may meet resistance in 135.49 - 135.62 zone for a drift down to 134.53 zone, after which bounce to 136.58 is anticipated.
GBP-CAD	Market should not go lower than 1.5970. After this move down it should go up to 1.6167 area.
GBP-AUD	Market should not go lower than 1.6908. After this move down it should go up to 1.7146 area.
CAD-JPY	It should test 84.92 area after which a sell off down to 83.90 or extended to 83.39 area is expected.
NZD-JPY	It should be subject to more sell off towards 61.80 or 61.62. Corrective upward swings should face resistance around 62.24 area. A break of 62.73 is bullish.
AUD-JPY	It should test 80.14 area after which a sell off down to 79.10 or extended to 78.57 area is expected.
XAG-USD	Currently uptrend should end around 16.66 - 16.64 area. A correction down to below 16.13 is expected. A rise above 16.84 will abort the expected correction.
XAU-USD	Currently uptrend should end around 1126.47 - 1122.70 area. A correction down to below 1107.80 is expected. A rise above 1128.40 will abort the expected correction.

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

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.