Daily Market Comments - Tuesday 06 April 2010

[RTFX-Trading]

EUR-USD	Current fall is near an end of wave around 1.3450 zone, a rally should then procede to above 1.3528. Fall below 1.3416 would cancel this scenario.
USD-CHF	While below 1.0633 - 1.0649 it is more likely to fall further towards 1.0604 or 1.0590. Premature rise above 1.0649 could see it rising above 1.0677 zone.
GBP-USD	Currently uptrend should end around 1.5310 - 1.5335 area. A correction down to below 1.5240 is expected. A rise above 1.5375 will abort the expected correction.
USD-JPY	There are initial signs of a good corrective recovery towards 94.58 or even 94.75. Supports at 94.23 and 94.04 zone.
USD-CAD	It looks set to visit further lower territory down to around 1.0017 - 0.9992. Its corrective attempts should fail ahead of 1.0017 - 1.0071. Stop loss above 1.0120 zone.
NZD-USD	It looks set to visit further lower territory down to around 0.7026 - 0.7010. Its corrective attempts should fail ahead of 0.7026 - 0.7062. Stop loss above 0.7093 zone.
AUD-USD	It should try higher up to 0.9218 - 0.9228. Entry point 0.9207 or 0.9200. After this rise, a correction is expected.
EUR-JPY	No comment!
EUR-CHF	Our preferred outlook is for a drift down to 1.4312 or below 1.4302. Resistances are at 1.4323 and 1.4326. A rise above 1.4336 would delay but not abort this expected fall.
EUR-GBP	It may meet resistance in 0.8816 - 0.8830 zone for a drift down to 0.8801 zone, after which bounce to 0.8846 is anticipated.
EUR-CAD	It looks set to visit further lower territory down to around 1.3506 - 1.3462. Its corrective attempts should fail ahead of 1.3506 - 1.3603. Stop loss above 1.3692 zone.
EUR-NZD	It should trade higher to 1.9258 while 1.9126 or 1.9087 offers support. Stop loss below 1.8994 zone.
EUR-AUD	It may meet resistance in 1.4635 - 1.4651 zone for a drift down to 1.4608 zone, after which bounce to 1.4678 is anticipated.
GBP-CHF	Currently uptrend should end around 1.6320 - 1.6276 area. A correction down to below 1.6191 is expected. A rise above 1.6306 will abort the expected correction.
GBP-JPY	While below 144.54 - 144.80 it is more likely to fall further towards 144.05 or 143.83. Premature rise above 144.80 could see it rising above 145.25 zone.
GBP-CAD	It is likely to fall towards 1.5310 - 1.5277 as its corrective rally could falter in 1.5370 - 1.5396 area. Stop above 1.5462 zone.
GBP-AUD	Currently uptrend should end around 1.6617 - 1.6645 area. A correction down to 1.6569 - 1.6547 is expected. A rise above 1.6688 will abort the expected correction.
CAD-JPY	One move lower to 93.74 or 93.33 is anticipated while below 94.20 - 94.41 area. Stop loss above 94.66 zone.
NZD-JPY	It looks more likely that it would rise to 66.81 - 67.27 from 66.30 or 66.07. After which a downside move is expected.
AUD-JPY	Current rise should end around 87.17. Objectives of this downmove are 86.69 or 86.42. A rise above 87.39 is again bullish.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 18.14 or 18.22 if support around 18.01 hold. After which a pullback to 18.01 - 17.95 zone is possible.
XAU-USD	It should try higher up to 1132.75 - 1136.37. Entry point 1129.13 or 1126.90. After this rise, a correction is expected.

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

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