Weekly Market Comments - Monday 10 May 2010

[RTFX-Trading]

EUR-USD	One more dip to 1.2625 - 1.2384 is likely followed by a grind higher to 1.3040 - 1.3214. After which it can resume its downtrend.
USD-CHF	Strength can extend to 1.1165 or 1.1306 as declines are expected to find support at 1.1025 or 1.0914. A fall below 1.0804 could turn it bearish.
GBP-USD	One more dip to 1.4648 is likely followed by a grind higher to 1.5270. After which it can resume its downtrend.
USD-JPY	It is likely to fall towards 87.91 - 84.42 unless a corrective rally breaks the 93.19 resistance. Stop above 94.94 zone.
USD-CAD	Strength can extend to 1.0591 or even higher than 1.0754 as declines are expected to find support at 1.0270 or 1.0113. A fall below 0.9786 could turn it bearish.
NZD-USD	No comment!
AUD-USD	One more dip to 0.8787 - 0.8625 is likely followed by a grind higher to 0.9069 - 0.9188. After which it can resume its downtrend.
EUR-JPY	One more dip to 113.50 is likely followed by a grind higher to 124.34. After which it can resume its downtrend.
EUR-CHF	One more dip to 1.4059 - 1.3962 is likely followed by a grind higher to 1.4230 - 1.4305. After which it can resume its downtrend.
EUR-GBP	It is likely to fall towards 0.8410 - 0.8229 unless a corrective rally breaks the 0.8699 resistance. Stop above 0.8789 zone.
EUR-CAD	Market should not go lower than 1.3210 - 1.3090. After this move down it should go up to 1.3429 - 1.3528 area.
EUR-NZD	One more dip to 1.7682 - 1.7466 is likely followed by a grind higher to 1.8084 - 1.8270. After which it can resume its downtrend.
EUR-AUD	Market should hold major support at 1.4093 before rising towards 1.4531 or even 1.4698 limit.
GBP-CHF	It looks more likely that it would rise to 1.6866 - 1.7303 from 1.6260 or 1.6042. After which a downside move is expected.
GBP-JPY	One more dip to 132.68 is likely followed by a grind higher to 143.62. After which it can resume its downtrend.
GBP-CAD	While above 1.5338 - 1.5150 zone a corrective dip could test 1.5526 or 1.5847. After which it should resume his downtrend.
GBP-AUD	It should trade higher to 1.6992 while 1.6639 or 1.6504 offers support. Stop loss below 1.6368 zone.
CAD-JPY	One more dip to 84.86 is likely followed by a grind higher to 93.61. After which it can resume its downtrend.
NZD-JPY	It is likely to fall towards 63.55 - 61.61 as its corrective rally could falter in 67.30 - 69.10 area. Stop above 72.99 zone.
AUD-JPY	One more dip to 78.97 is likely followed by a grind higher to 87.01. After which it can resume its downtrend.
XAG-USD	Difficult to predict the next move. If first down it should hold 17.72 or 17.34. If first up it should face resistance in 18.62 - 19.14 zone to 17.34 zone.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1216.97 or 1229.12 if support around 1192.93 hold. After which a pullback to 1192.93 - 1182.45 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.