Daily Market Comments - Monday 17 May 2010

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.2295. After this move down it should go up to 1.2517 area.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.1395 or 1.1381 if support around 1.1266 hold. After which a pullback to 1.1266 - 1.1233 zone is possible.
GBP-USD	It may meet resistance in 1.4536 - 1.4557 zone for a drift down to 1.4475 zone, after which bounce to 1.4618 is anticipated.
USD-JPY	One more dip to 92.07 - 91.74 is likely followed by a grind higher to 92.71 - 93.01. After which it can resume its downtrend.
USD-CAD	While below 1.0347 - 1.0398 it is more likely to fall further towards 1.0256 or 1.0216. Premature rise above 1.0398 could see it rising above 1.0479 zone.
NZD-USD	Market should not go lower than 0.7064 - 0.7035. After this move down it should go up to 0.7111 - 0.7127 area.
AUD-USD	Market should not go lower than 0.8855 - 0.8815. After this move down it should go up to 0.8917 - 0.8938 area.
EUR-JPY	Market should not go lower than 112.68. After this move down it should go up to 116.37 area.
EUR-CHF	Any possible decline should be supported around 1.3998 - 1.3988 zone for rally to above 1.4041. A clear break of 1.3972 will damage this expected rally.
EUR-GBP	It looks more likely that it would rise to 0.8589 - 0.8662 from 0.8511 or 0.8474. After which a downside move is expected.
EUR-CAD	No comment!
EUR-NZD	It should test 1.7547 area after which a sell off down to 1.7381 or extended to 1.7245 area is expected.
EUR-AUD	Current fall is near an end of wave around 1.3924 zone, a rally should then procede to above 1.4031. Fall below 1.3873 would cancel this scenario.
GBP-CHF	It may attempt a test higher to 1.6459 - 1.6524 after which weakness may set it to a drift down to below 1.6319 limit.
GBP-JPY	It may meet resistance in 134.50 - 135.15 zone for a drift down to below 132.94 zone.
GBP-CAD	It may attempt a test higher to 1.5038 - 1.5097 after which weakness may set it to a drift down to 1.4878 limit.
GBP-AUD	It should test 1.6538 area after which a sell off down to 1.6280 or extended to 1.6152 area is expected.
CAD-JPY	Current fall is near an end of wave around 88.30 zone, a rally should then procede to above 90.90. Fall below 87.10 would cancel this scenario.
NZD-JPY	Support at 65.16 or 64.75 should hold the downside for a correction to above 66.08 zone.
AUD-JPY	Market should not go lower than 81.60 - 80.99. After this move down it should go up to 82.61 - 83.01 area.
XAG-USD	It is likely to fall towards 19.14 - 18.94 as its corrective rally could falter in 19.51 - 19.69 area. Stop above 20.08 zone.
XAU-USD	No comment!

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
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