Daily Market Comments - Tuesday 18 May 2010

[RTFX-Trading]

EUR-USD	Market should hold major support at 1.2171 before rising towards 1.2462 or even 1.2528 limit.
USD-CHF	A corrective rise should ideally test 1.1407 or even higher than 1.1502. Supports are at 1.1192. Stop loss below 1.1203 zone.
GBP-USD	Market should hold major support at 1.4191 before rising towards 1.4597 or even 1.4718 limit.
USD-JPY	It should test 93.33 area after which a sell off down to 92.01 or extended to 91.42 area is expected.
USD-CAD	Should fall around 1.0283 while below 1.0325 - 1.0382 zone. Then a recovery up to above 1.0382 is expected.
NZD-USD	Current fall is near an end of wave around 0.6899 zone, a rally should then procede to above 0.7057. Fall below 0.6828 would cancel this scenario.
AUD-USD	It may meet resistance in 0.8774 - 0.8774 zone for a drift down to 0.8686 zone, after which bounce to 0.8862 is anticipated.
EUR-JPY	It should test 116.93 area after which a sell off down to 113.19 or extended to 111.61 area is expected.
EUR-CHF	Current rise seems to be over near 1.4025 or 1.4032 for a retracement towards 1.4018 - 1.4013 area.
EUR-GBP	It should be subject to more sell off towards 0.8512 or 0.8461. Corrective upward swings should face resistance around 0.8600 area. A break of 0.8640 is bullish.
EUR-CAD	Uptrend is still intact. It should continue to rally to 1.2901 or 1.2960 if supports at 1.2791 - 1.2765 area hold. Stop loss below 1.2739.
EUR-NZD	Current rise seems to be over near 1.7796 or 1.7910 for a retracement towards 1.7683 - 1.7621 area.
EUR-AUD	Current rise seems to be over near 1.4159 or 1.4230 for a retracement towards 1.4088 - 1.4037 area.
GBP-CHF	While above 1.6340 - 1.6293 zone a corrective dip could test 1.6387 or 1.6469. After which it should resume his downtrend.
GBP-JPY	Market should hold major support at 130.30 before rising towards 135.22 or even 136.41 limit.
GBP-CAD	Current move should be supported in 1.4905 - 1.4854 zone for a rise to 1.5048. A break below 1.4763 opens the way down.
GBP-AUD	Strength can extend to 1.6552 or even 1.6630 as declines are expected to find support at 1.6473 or 1.6407. Stop Loss below 1.6340 zone.
CAD-JPY	It should try higher up to 89.70. Entry point 89.13 or 88.83. After this rise, a correction is expected.
NZD-JPY	It should try higher up to 64.92 - 65.38. Entry point 64.46 or 64.03. After this rise, a correction is expected.
AUD-JPY	It should try higher up to 81.55 - 82.07. Entry point 81.03 or 80.62. After this rise, a correction is expected.
XAG-USD	Market should not go lower than 18.63. After this move down it should go up to 19.30 area.
XAU-USD	There is bearish potential for a fall to 1213.58 while 1228.07 - 1232.48 resist. After this fall a recovery up to 1232.48 or 1236.88 is expected.

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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