Daily Market Comments - Wednesday 12 May 2010

[RTFX-Trading]

EUR-USD	Prefer a fall to below 1.2612. Then a correction to above 1.2854 is anticipated. A clear break of 1.2561 is again bearish.
USD-CHF	It should be subject to more sell off towards 1.1077 or 1.1058. Corrective upward swings should face resistance around 1.1185 area. A break of 1.1194 is bullish.
GBP-USD	It should trade higher to 1.5067 while 1.4839 or 1.4783 offers support. Stop loss below 1.4610 zone.
USD-JPY	Preferred view is for a fall to 92.43 - 92.11 while 93.02 - 93.29 area resists. A clear break of 93.93 would be bullish.
USD-CAD	It should try higher up to 1.0255. Entry point 1.0220 or 1.0185. After this rise, a correction is expected.
NZD-USD	It looks more likely that it would rise to 0.7207 - 0.7251 from 0.7161 or 0.7139. After which a downside move is expected.
AUD-USD	Preferred view is for a fall to 0.8942 - 0.8911 while 0.8994 - 0.9014 area resists. A clear break of 0.9077 would be bullish.
EUR-JPY	No comment!
EUR-CHF	No comment!
EUR-GBP	Market should not go lower than 0.8465 - 0.8415. After this move down it should go up to 0.8542 - 0.8568 area.
EUR-CAD	It may meet resistance in 1.2940 - 1.2988 zone for a drift down to 1.2872 zone, after which bounce to 1.3056 is anticipated.
EUR-NZD	Current fall is near an end of wave around 1.7592 zone, a rally should then procede to above 1.7764. Fall below 1.7509 would cancel this scenario.
EUR-AUD	It may meet resistance in 1.4144 - 1.4160 zone for a drift down to 1.4097 zone, after which bounce to 1.4207 is anticipated.
GBP-CHF	It should trade lower to 1.6444. Resistances are at 1.6722 and 1.6817. A break of 1.7001 is bullish, confirmed by a close above 1.6895.
GBP-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 139.14 or 140.18 if support around 138.05 hold. After which a pullback to 138.05 - 137.24 zone is possible.
GBP-CAD	Market should hold major support at 1.5034 before rising towards 1.5373 or even 1.5461 limit.
GBP-AUD	It looks set for gains to 1.6809. Supports at 1.6569 and 1.6518. A break of 1.6328 will damage this bullish structure.
CAD-JPY	Preferred view is for a fall to 90.20 - 89.71 while 91.17 - 91.63 area resists. A clear break of 92.62 would be bullish.
NZD-JPY	Preferred view is for a fall to 66.27 - 65.88 while 66.91 - 67.15 area resists. A clear break of 67.94 would be bullish.
AUD-JPY	Preferred view is for a fall to 82.70 - 82.16 while 83.63 - 84.02 area resists. A clear break of 85.11 would be bullish.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 19.62 or 19.67 if support around 19.03 hold. After which a pullback to 19.03 - 18.85 zone is possible.
XAU-USD	Current rise seems to be over near 1233.70 or 1244.52 for a retracement towards 1222.88 - 1217.00 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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