Daily Market Comments - Tuesday 04 May 2010

[RTFX-Trading]

EUR-USD	There is bearish potential for a fall to 1.3116 while 1.3233 - 1.3272 resist. After this fall a recovery up to 1.3272 or 1.3311 is expected.
USD-CHF	It should trade higher to 1.0917 while 1.0830 or 1.0801 offers support. Stop loss below 1.0771 zone.
GBP-USD	It should register further gains to 1.5309 while 1.5198 - 1.5149 caps downside attempts. Stop loss below 1.5087 zone.
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 94.83 or 94.93 if support around 94.39 hold. After which a pullback to 94.39 - 94.19 zone is possible.
USD-CAD	There are initial signs of a good corrective recovery towards 1.0147 or even 1.0162. Supports at 1.0104 and 1.0076 zone.
NZD-USD	One move lower to 0.7275 or 0.7243 is anticipated while below 0.7316 - 0.7332 area. Stop loss above 0.7356 zone.
AUD-USD	It may attempt a test higher to 0.9268 - 0.9283 after which weakness may set it to a drift down to below 0.9231 limit.
EUR-JPY	It should be subject to more sell off towards 124.00 or 123.28. Corrective upward swings should face resistance around 124.77 area. A break of 126.17 is bullish.
EUR-CHF	Our preferred outlook is for a drift down to 1.4319 or below 1.4312. Resistances are at 1.4326 and 1.4331. A rise above 1.4338 would delay but not abort this expected fall.
EUR-GBP	While below 0.8684 - 0.8698 it might drop to 0.8625 or 0.8597.
EUR-CAD	It looks more likely that it would rise to 1.3495 from 1.3332 or 1.3254. After which a downside move is expected.
EUR-NZD	Market should not go lower than 1.8040 - 1.7945. After this move down it should go up to 1.8192 - 1.8248 area.
EUR-AUD	While above 1.4240 - 1.4167 zone a corrective dip could test 1.4314 or 1.4394. After which it should resume his downtrend.
GBP-CHF	Corrective dips should ideally halt near 1.6507 or 1.6483 for one more thrust upwards towards 1.6567 - 1.6603 area or 1.6652 in extention. Fall below 1.6410 puts it back on a downward path.
GBP-JPY	It should be subject to more sell off towards 143.21 or 142.28. Corrective upward swings should face resistance around 144.76 area. A break of 145.57 is bullish.
GBP-CAD	Current move should be supported in 1.5406 - 1.5349 zone for a rise to 1.5525. A break below 1.5287 opens the way down.
GBP-AUD	Prefer a fall to 1.6445 or 1.6391. Then a correction to 1.6535 is anticipated. A clear break of 1.6319 is again bearish.
CAD-JPY	It should be subject to more sell off towards 92.86 or 92.60. Corrective upward swings should face resistance around 94.75 area. A break of 94.61 is bullish.
NZD-JPY	Current rise should end around 69.53. Objectives of this downmove are 68.44 or 67.80. A rise above 69.98 is again bullish.
AUD-JPY	It should find support in 87.08 - 86.84 area for a rally to 88.52. Unexpected fall below 86.14 will dent this bullish view.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 18.92 or 18.95 if support around 18.73 hold. After which a pullback to 18.73 - 18.66 zone is possible.
XAU-USD	Should test support at 1176.80 while below 1182.35. If support at 1176.80 holds it can rise up to 1187.90, if not it should fall to below 1171.25 zone.

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.