Weekly Market Comments - Monday 03 May 2010

[RTFX-Trading]

EUR-USD	Market should hold major support at 1.3045 before rising towards 1.3447 or even 1.3582 limit.
USD-CHF	Resistances lie around 1.0844 and 1.0891. It should test lower towards 1.0667 zone. A clear break of 1.0663 would be bearish.
GBP-USD	One more dip to 1.5210 or 1.5114 is likely followed by a grind higher to 1.5396 - 1.5486. After which it can resume its downtrend.
USD-JPY	While below 94.26 - 94.74 it is more likely to fall further towards 92.97 or 92.01.
USD-CAD	It should trade higher to 1.0246 while 1.0064 or 1.0020 offers support. Stop loss below 0.9882 zone.
NZD-USD	Current rise seems to be over near 0.7297 or 0.7363 for a retracement towards 0.7231 - 0.7184 area.
AUD-USD	If market stays below 0.9289 a fall to 0.9151 is expected. If market breaks the point 0.9340 it could reach the sky.
EUR-JPY	It should trade higher to 126.78 or above 128.51 in extention. Supports at 123.71 and 122.85. Stop loss below 120.64 zone.
EUR-CHF	Preferred outlook is for a drift down to below 1.4297. Resistances are at 1.4329 and 1.4340. A rise above 1.4348 would delay but not abort this expected fall.
EUR-GBP	It should test 0.8776 area after which a sell off down to 0.8627 or extended to 0.8550 area is expected.
EUR-CAD	It should test 1.3770 area after which a sell off down to 1.3338 or extended to 1.3154 area is expected.
EUR-NZD	It may meet resistance in 1.8315 - 1.8369 zone for a drift down to 1.8083 zone, after which bounce to 1.8602 is anticipated.
EUR-AUD	Market should hold major support at 1.4147 before rising towards 1.4508 or even 1.4627 limit.
GBP-CHF	There are initial signs of a good corrective recovery towards 1.6563 or even 1.6610. Supports at 1.6441 and 1.6367 zone.
GBP-JPY	While above 142.64 - 141.52 zone a corrective dip could test 143.75 or 145.89. After which it should resume his downtrend.
GBP-CAD	It may attempt a test higher to 1.5548 - 1.5640 after which weakness may set it to a drift down to 1.5351 limit.
GBP-AUD	It is likely to fall towards 1.6453 - 1.6364 as its corrective rally could falter in 1.6624 - 1.6708 area. Stop above 1.6884 zone.
CAD-JPY	While above 91.83 - 90.94 zone a corrective dip could test 92.72 or 94.25. After which it should resume his downtrend.
NZD-JPY	Current rise seems to be over near 68.64 or 69.55 for a retracement towards 67.73 - 67.09 area.
AUD-JPY	Currently uptrend should end around 87.47 - 88.30 area. A correction down to 85.94 - 85.23 is expected. A rise above 89.71 will abort the expected correction.
XAG-USD	Current rise seems to be over near 18.70 or 18.99 for a retracement towards 18.41 - 18.24 area.
XAU-USD	Current rise seems to be over near 1180.18 or 1191.45 for a retracement towards 1168.90 - 1162.43 area.

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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