Daily Market Comments - Friday 07 May 2010

[RTFX-Trading]

EUR-USD	One more dip to 1.2569 - 1.2474 is likely followed by a grind higher to 1.2738 - 1.2811. After which it can resume its downtrend.
USD-CHF	Current upmove should be ended around 1.1193 - 1.1252. Any correction consolidation should find support in 1.1080 - 1.1024 zone.
GBP-USD	It looks set to visit further lower territory down to around 1.4772 - 1.4647. Its corrective attempts should fail ahead of 1.4772 - 1.5083. Stop loss above 1.5334 zone.
USD-JPY	One more dip to 89.27 - 87.70 is likely followed by a grind higher to 92.28 - 93.72. After which it can resume its downtrend.
USD-CAD	Strength can extend to 1.0634 or 1.0751 as declines are expected to find support at 1.0517 or 1.0404. A fall below 1.0292 could turn it bearish.
NZD-USD	No comment!
AUD-USD	One more dip to 0.8781 - 0.8677 is likely followed by a grind higher to 0.8972 - 0.9059. After which it can resume its downtrend.
EUR-JPY	One more dip to 112.48 - 109.73 is likely followed by a grind higher to 117.52 - 119.82. After which it can resume its downtrend.
EUR-CHF	Market should not go lower than 1.4032 - 1.3928. After this move down it should go up to 1.4202 - 1.4267 area.
EUR-GBP	It should test 0.8558 area after which a sell off down to 0.8444 or extended to 0.8379 area is expected.
EUR-CAD	It looks more likely that it would rise to 1.3486 - 1.3688 from 1.3208 or 1.3107. After which a downside move is expected.
EUR-NZD	Market should hold major support at 1.7415 before rising towards 1.7935 or even 1.8107 limit.
EUR-AUD	It should trade lower to 1.4158 or 1.3901 in extension while 1.4326 - 1.4416 offer resistance. A break of 1.4573 will damage this bearish view.
GBP-CHF	Market should not go lower than 1.6477 - 1.6331. After this move down it should go up to 1.6721 - 1.6817 area.
GBP-JPY	One more dip to 132.13 - 128.73 is likely followed by a grind higher to 138.34 - 141.15. After which it can resume its downtrend.
GBP-CAD	Preferred view is for a fall to 1.5545 - 1.5426 while 1.5757 - 1.5850 area resists. A clear break of 1.6088 would be bullish.
GBP-AUD	While below 1.6833 - 1.6912 it is more likely to fall further towards 1.6600 or 1.6443.
CAD-JPY	One more dip to 84.11 - 81.70 is likely followed by a grind higher to 88.69 - 90.87. After which it can resume its downtrend.
NZD-JPY	It is likely to fall towards 61.36 - 58.36 unless a corrective rally breaks the 66.37 resistance. Stop above 67.87 zone.
AUD-JPY	One more dip to 78.55 - 76.30 is likely followed by a grind higher to 82.75 - 84.68. After which it can resume its downtrend.
XAG-USD	Market should hold major support at 17.36 before rising towards 17.90 or even 18.08 limit.
XAU-USD	Current rise seems to be over near 1210.10 or 1222.57 for a retracement towards 1197.63 - 1190.70 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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