Daily Market Comments - Friday 05 March 2010

[RTFX-Trading]

EUR-USD	There is bearish potential for a fall to 1.3518 while 1.3615 - 1.3647 resist. After this fall a recovery up to 1.3647 or 1.3679 is expected.
USD-CHF	It should trade higher to 1.0822 while 1.0746 or 1.0721 offers support. Stop loss below 1.0696 zone.
GBP-USD	It looks more likely that it would rise to 1.5110 - 1.5188 from 1.5019 or 1.4980. After which a downside move is expected.
USD-JPY	It should trade higher to 89.47 while 88.80 or 88.58 offers support. Stop loss below 88.35 zone.
USD-CAD	Market should hold major support at 1.0267 before rising towards 1.0348 or even 1.0378 limit.
NZD-USD	Market should not go lower than 0.6819. After this move down it should go up to 0.6925 area.
AUD-USD	Market should not go lower than 0.8990 - 0.8965. After this move down it should go up to 0.9032 - 0.9050 area.
EUR-JPY	There is bearish potential for a fall to 120.20 while 121.01 - 121.37 resist. After this fall a recovery up to 121.37 or 121.72 is expected.
EUR-CHF	Our preferred view is for a drift down to 1.4612. Resistances is at 1.4626. A rise above 1.4635 would delay but not abort this expected fall.
EUR-GBP	It looks set to visit further lower territory down to around 0.9026 - 0.9007. Its corrective attempts should fail ahead of 0.9026 - 0.9074. Stop loss above 0.9112 zone.
EUR-CAD	Market should not go lower than 1.3987 - 1.3935. After this move down it should go up to 1.4078 - 1.4117 area.
EUR-NZD	Should test support at 1.9704 while below 1.9782. If support at 1.9704 holds it can rise up to 1.9867, if not it should fall to below 1.9626 zone.
EUR-AUD	It looks more likely that it would rise to 1.5173 - 1.5257 from 1.5077 or 1.5035. After which a downside move is expected.
GBP-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6246 or 1.6241 if support around 1.6172 hold. After which a pullback to 1.6172 - 1.6148 zone is possible.
GBP-JPY	Current upmove should be ended around 134.32 - 134.90. Any correction consolidation should find support in 133.20 - 132.66 zone.
GBP-CAD	No comment!
GBP-AUD	Should test support at 1.6653 while below 1.6701. If support at 1.6653 holds it can rise up to 1.6755, if not it should fall to below 1.6606 zone.
CAD-JPY	Currently uptrend should end around 86.47 - 86.86 area. A correction down to 85.79 - 85.50 is expected. A rise above 87.45 will abort the expected correction.
NZD-JPY	One more dip to 60.87 - 60.61 is likely followed by a grind higher to 61.38 - 61.63. After which it can resume its downtrend.
AUD-JPY	It should trade higher to 80.72 or above 81.32 in extention. Supports at 79.66 and 79.36. Stop loss below 78.60 zone.
XAG-USD	Preferred view is for a fall to 17.09 - 16.99 while 17.25 - 17.32 area resists. A clear break of 17.51 would be bullish.
XAU-USD	It is likely to fall towards 1129.02 - 1124.80 as its corrective rally could falter in 1136.95 - 1140.65 area. Stop above 1149.10 zone.

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

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