Daily Market Comments - Wednesday 19 May 2010

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.2182 - 1.2095. After this move down it should go up to 1.2323 - 1.2377 area.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.1524 or 1.1573 if support around 1.1420 hold. After which a pullback to 1.1420 - 1.1372 zone is possible.
GBP-USD	Market should not go lower than 1.4319 - 1.4253. After this move down it should go up to 1.4427 - 1.4467 area.
USD-JPY	Current move should be supported in 92.18 - 91.91 zone for a rise to 92.77. A break below 91.59 opens the way down.
USD-CAD	It should trade higher to 1.0454 while 1.0320 or 1.0289 offers support. Stop loss below 1.0186 zone.
NZD-USD	Market should not go lower than 0.6931 - 0.6895. After this move down it should go up to 0.6991 - 0.7013 area.
AUD-USD	Market should not go lower than 0.8542. After this move down it should go up to 0.8747 area.
EUR-JPY	No comment!
EUR-CHF	Preferred outlook is for a drift down to below 1.3976. Resistances are at 1.4005 and 1.4019. A rise above 1.4026 would delay but not abort this expected fall.
EUR-GBP	While above 0.8507 - 0.8474 zone a corrective dip could test 0.8540 or 0.8579. After which it should resume his downtrend.
EUR-CAD	Market should not go lower than 1.2667 - 1.2620. After this move down it should go up to 1.2746 - 1.2778 area.
EUR-NZD	While above 1.7563 - 1.7487 zone a corrective upmove could test 1.7686 or 1.7734. After which it should resume its downtrend.
EUR-AUD	A corrective rise should ideally test 1.4190 or even higher than 1.4265. Supports are at 1.4047. Stop loss below 1.4013 zone.
GBP-CHF	It should be subject to more sell off towards 1.6340 or 1.6230. Corrective upward swings should face resistance around 1.6581 area. A break of 1.6587 is bullish.
GBP-JPY	It might hold above 132.03 or around 131.83 for a rise towards above 134.08. Stop loss below 131.09 zone.
GBP-CAD	One more dip to 1.4867 - 1.4834 is likely followed by a grind higher to 1.4932 - 1.4964. After which it can resume its downtrend.
GBP-AUD	Currently uptrend should end around 1.6664 - 1.6633 area. A correction down to below 1.6500 is expected. A rise above 1.6684 will abort the expected correction.
CAD-JPY	Prefer a fall to 88.63 or 87.99. Then a correction to 89.65 is anticipated. A clear break of 87.23 is again bearish.
NZD-JPY	No comment!
AUD-JPY	Market should not go lower than 79.61 - 78.94. After this move down it should go up to 80.69 - 81.09 area.
XAG-USD	It should test 19.34 area after which a sell off down to 18.75 or extended to 18.46 area is expected.
XAU-USD	It should test 1239.20 area after which a sell off down to 1211.53 or extended to 1197.92 area is expected.

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.