Daily Market Comments - Thursday 13 May 2010

[RTFX-Trading]

EUR-USD	It might hold above 1.2610 or around 1.2606 for a rise towards above 1.2700. Stop loss below 1.2567 zone.
USD-CHF	It should test 1.1127 area after which a sell off down to 1.1071 or extended to 1.1026 area is expected.
GBP-USD	It looks more likely that it would rise to 1.4972 - 1.5121 from 1.4821 or 1.4746. After which a downside move is expected.
USD-JPY	It should be subject to more sell off towards 92.71 or 92.16. Corrective upward swings should face resistance around 94.01 area. A break of 93.83 is bullish.
USD-CAD	One more dip to 1.0173 or 1.0149 is likely followed by a grind higher to 1.0220 - 1.0242. After which it can resume its downtrend.
NZD-USD	One more dip to 0.7119 - 0.7092 is likely followed by a grind higher to 0.7166 - 0.7186. After which it can resume its downtrend.
AUD-USD	Market should hold major support at 0.8862 before rising towards 0.8981 or even 0.9026 limit.
EUR-JPY	Market should hold major support at 116.49 before rising towards 118.51 or even 119.41 limit.
EUR-CHF	Support at 1.4019 or 1.3986 should hold the downside for a correction to above 1.4087 zone.
EUR-GBP	It should test 0.8540 area after which a sell off down to 0.8455 or extended to 0.8401 area is expected.
EUR-CAD	It may meet resistance in 1.2858 - 1.2887 zone for a drift down to 1.2829 zone, after which bounce to 1.2916 is anticipated.
EUR-NZD	It looks set for gains to 1.7768. Supports at 1.7642 and 1.7601. A break of 1.7515 will damage this bullish structure.
EUR-AUD	Prefer a fall to 1.4106 or 1.4071. Then a correction to 1.4163 is anticipated. A clear break of 1.4026 is again bearish.
GBP-CHF	While above 1.6447 - 1.6365 zone a corrective dip could test 1.6529 or 1.6641. After which it should resume his downtrend.
GBP-JPY	It looks more likely that it would rise to 139.57 - 140.92 from 137.82 or 137.15. After which a downside move is expected.
GBP-CAD	No comment!
GBP-AUD	There are initial signs of a good corrective recovery towards 1.6688 or even 1.6730. Supports at 1.6576 and 1.6505 zone.
CAD-JPY	It should trade higher to 92.11 while 90.87 or 90.56 offers support. Stop loss below 89.63 zone.
NZD-JPY	It may attempt a test higher to 66.79 - 67.15 after which weakness may set it to a drift down to 65.78 limit.
AUD-JPY	It should test 84.06 area after which a sell off down to 82.46 or extended to 81.61 area is expected.
XAG-USD	One move lower to 19.17 or 18.82 is anticipated while below 19.62 - 19.80 area. Stop loss above 20.08 zone.
XAU-USD	One move lower to 1227.55 or 1216.30 is anticipated while below 1243.82 - 1249.45 area. Stop loss above 1260.10 zone.

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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