Daily Market Comments - Tuesday 11 May 2010

[RTFX-Trading]

EUR-USD	Should test support at 1.2667 while below 1.2788. If support at 1.2667 holds it can rise up to 1.3002, if not it should fall to below 1.2546 zone.
USD-CHF	It should test 1.1253 area after which a sell off down to 1.0976 or extended to 1.0853 area is expected.
GBP-USD	While below 1.4848 or 1.4888 it could fall towards below 1.4721 or 1.4595. After which a corrective/consolidation activity is expected to 1.4951 zone.
USD-JPY	One move lower to 92.14 or 91.00 is anticipated while below 93.41 - 93.99 area. Stop loss above 94.68 zone.
USD-CAD	It may meet resistance in 1.0231 - 1.0278 zone for a drift down to 1.0164 zone, after which bounce to 1.0346 is anticipated.
NZD-USD	While below 0.7262 - 0.7308 it is more likely to fall further towards 0.7176 or 0.7136. Premature rise above 0.7308 could see it rising above 0.7388 zone.
AUD-USD	One move lower to 0.8941 or 0.8855 is anticipated while below 0.9053 - 0.9096 area. Stop loss above 0.9165 zone.
EUR-JPY	While above 117.50 a corrective rise could test 120.79. Ideally it should not fall below 115.71 zone.
EUR-CHF	A corrective rise should ideally test 1.4291 or even higher than 1.4391. Supports are at 1.4064. Stop loss below 1.4076 zone.
EUR-GBP	Resistances lie around 0.8681 and 0.8726. It should test lower towards 0.8523 zone. A clear break of 0.8542 would be bearish.
EUR-CAD	There is bearish potential for a fall to 1.3080 - 1.2974 while 1.3185 - 1.3240 resist. After this fall a recovery up to 1.3240 or 1.3294 is expected.
EUR-NZD	It looks more likely that it would rise to 1.7950 - 1.8205 from 1.7686 or 1.7558. After which a downside move is expected.
EUR-AUD	There is bearish potential for a fall to 1.4063 while 1.4250 - 1.4301 resist. After this fall a recovery up to 1.4301 or 1.4353 is expected.
GBP-CHF	If market stays below 1.6557 a fall to 1.6291 is expected. If market breaks the point 1.6650 it could reach the sky.
GBP-JPY	While below 139.55 - 140.81 it is more likely to fall further towards 137.12 or 135.97. Premature rise above 140.81 could see it rising above 143.12 zone.
GBP-CAD	It should register further gains to 1.5356 while 1.5109 - 1.5026 caps downside attempts. Stop loss below 1.4861 zone.
GBP-AUD	One more dip to 1.6415 - 1.6328 is likely followed by a grind higher to 1.6562 - 1.6622. After which it can resume its downtrend.
CAD-JPY	One move lower to 89.28 or 87.39 is anticipated while below 91.35 - 92.30 area. Stop loss above 93.41 zone.
NZD-JPY	One move lower to 66.02 or 64.62 is anticipated while below 67.77 - 68.47 area. Stop loss above 69.53 zone.
AUD-JPY	One move lower to 82.60 or 80.99 is anticipated while below 84.49 - 85.30 area. Stop loss above 86.39 zone.
XAG-USD	One move lower to 18.27 or 18.02 is anticipated while below 18.59 - 18.72 area. Stop loss above 18.91 zone.
XAU-USD	Market should hold major support at 1179.84 before rising towards 1211.35 or even 1219.65 limit.

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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