Daily Market Comments - Tuesday 02 March 2010

[RTFX-Trading]

EUR-USD	It should be subject to more sell off towards 1.3462 or 1.3364. Corrective upward swings should face resistance around 1.3565 area. A break of 1.3753 is bullish.
USD-CHF	While above 1.0757 - 1.0719 zone a corrective dip could test 1.0795 or 1.0870. After which it should resume his downtrend.
GBP-USD	One more dip to 1.4887 - 1.4782 is likely followed by a grind higher to 1.5098 - 1.5202. After which it can resume its downtrend.
USD-JPY	No comment!
USD-CAD	Market should not go lower than 1.0412 - 1.0358. After this move down it should go up to 1.0494 - 1.0522 area.
NZD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.7015 or 0.7032 if support around 0.6982 hold. After which a pullback to 0.6982 - 0.6964 zone is possible.
AUD-USD	Currently uptrend should end around 0.9057 - 0.9038 area. A correction down to below 0.8958 is expected. A rise above 0.9067 will abort the expected correction.
EUR-JPY	While below 121.38 - 121.81 it might drop to 119.99 or 119.11.
EUR-CHF	Our preferred outlook is for a drift down to 1.4624 or below 1.4612. Resistances are at 1.4636 and 1.4636. A rise above 1.4648 would delay but not abort this expected fall.
EUR-GBP	Should test support at 0.8959 while below 0.9046. If support at 0.8959 holds it can rise up to 0.9141, if not it should fall to below 0.8871 zone.
EUR-CAD	Market should not go lower than 1.4001. After this move down it should go up to 1.4236 - 1.4289 area.
EUR-NZD	One more dip to 1.9339 - 1.9270 is likely followed by a grind higher to 1.9463 - 1.9518. After which it can resume its downtrend.
EUR-AUD	Current fall is near an end of wave around 1.4965 zone, a rally should then procede to above 1.5166. Fall below 1.4879 would cancel this scenario.
GBP-CHF	It should try higher up to 1.6246 - 1.6330. Entry point 1.6162 or 1.6087. After this rise, a correction is expected.
GBP-JPY	One more dip to 132.82 - 131.92 is likely followed by a grind higher to 134.56 - 135.40. After which it can resume its downtrend.
GBP-CAD	It looks set to visit further lower territory down to around 1.5600 - 1.5472. Its corrective attempts should fail ahead of 1.5600 - 1.5867. Stop loss above 1.6123 zone.
GBP-AUD	It may meet resistance in 1.6639 - 1.6702 zone for a drift down to 1.6482 zone, after which bounce to 1.6860 is anticipated.
CAD-JPY	Current rise seems to be over near 85.67 or 86.08 for a retracement towards 85.26 - 85.02 area.
NZD-JPY	While below 62.47 - 62.67 it is more likely to fall further towards 62.12 or 61.97. Premature rise above 62.67 could see it rising above 62.98 zone.
AUD-JPY	One move lower to 79.84 or 79.37 is anticipated while below 80.40 - 80.63 area. Stop loss above 80.97 zone.
XAG-USD	Should fall around 16.34 while below 16.46 - 16.61 zone. Then a recovery up to above 16.61 is expected.
XAU-USD	While below 1121.27 - 1124.35 it is more likely to fall further towards 1115.50 or 1112.80. Premature rise above 1124.35 could see it rising above 1129.75 zone.

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

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