Daily Market Comments - Monday 03 May 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3368 or 1.3362 if support around 1.3293 hold. After which a pullback to 1.3293 - 1.3268 zone is possible.
USD-CHF	Market should not go lower than 1.0755 - 1.0725. After this move down it should go up to 1.0805 - 1.0824 area.
GBP-USD	There are initial signs of a good corrective recovery towards 1.5342 or even 1.5372. Supports at 1.5274 and 1.5235 zone.
USD-JPY	Preferred view is for a fall to 93.91 - 93.68 while 94.26 - 94.39 area resists. A clear break of 94.84 would be bullish.
USD-CAD	It should trade higher to 1.0219 while 1.0117 or 1.0087 offers support. Stop loss below 1.0056 zone.
NZD-USD	Resistances lie around 0.7297 and 0.7319. It should test lower towards 0.7226 zone. A clear break of 0.7248 would be bearish.
AUD-USD	It looks more likely that it would rise to 0.9303 - 0.9353 from 0.9250 or 0.9225. After which a downside move is expected.
EUR-JPY	Preferred view is for a fall to 124.69 - 124.26 while 125.51 - 125.91 area resists. A clear break of 126.76 would be bullish.
EUR-CHF	Our preferred outlook is for a drift down to 1.4317 or below 1.4306. Resistances are at 1.4329 and 1.4337. A rise above 1.4348 would delay but not abort this expected fall.
EUR-GBP	It should trade higher to 0.8745 while 0.8664 or 0.8644 offers support. Stop loss below 0.8583 zone.
EUR-CAD	Current rise seems to be over near 1.3532 or 1.3614 for a retracement towards 1.3451 - 1.3405 area.
EUR-NZD	It should test 1.8485 area after which a sell off down to 1.8194 or extended to 1.8072 area is expected.
EUR-AUD	It should try higher up to 1.4394 - 1.4451. Entry point 1.4338 or 1.4307. After this rise, a correction is expected.
GBP-CHF	Prefer a fall to 1.6447 or 1.6382. Then a correction to 1.6551 is anticipated. A clear break of 1.6304 is again bearish.
GBP-JPY	There are initial signs of a good corrective recovery towards 144.44 or even 144.82. Supports at 143.48 and 142.90 zone.
GBP-CAD	Current rise seems to be over near 1.5548 or 1.5607 for a retracement towards 1.5489 - 1.5453 area.
GBP-AUD	It should be subject to more sell off towards 1.6467 or 1.6441. Corrective upward swings should face resistance around 1.6643 area. A break of 1.6638 is bullish.
CAD-JPY	There is bearish potential for a fall to 91.79 while 92.99 - 93.33 resist. After this fall a recovery up to 93.33 or 93.67 is expected.
NZD-JPY	Resistances lie around 68.64 and 68.88. It should test lower towards 67.79 zone. A clear break of 67.86 would be bearish.
AUD-JPY	Preferred view is for a fall to 86.84 - 86.44 while 87.47 - 87.70 area resists. A clear break of 88.50 would be bullish.
XAG-USD	One move lower to 18.48 or 18.31 is anticipated while below 18.70 - 18.79 area. Stop loss above 18.93 zone.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1186.39 or 1184.60 if support around 1175.75 hold. After which a pullback to 1175.75 - 1172.70 zone is possible.

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
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.