Monthly Market Comments - Tuesday 31 March 2009

[RTFX-Trading]

EUR-USD Strength can extend to 1.3494 or even higher than 1.3840 as declines are expected to find support at 1.2853 or 1.2558. Stop Loss below 1.1866 zone. USD-CHF No Comment.
USD-JPY Uptrend is still intact in a triangle configuration. It should continue to rally to 101.2634 or 103.5367 if support around 97.3967 hold. After which a pullback to 97.3967 - 96.2550 zone is possible. GBP-USD It looks set for gains to above 1.4848. Supports at 1.3989 and 1.4252. A break of 1.3726 will damage this bullish structure. EUR-CHF Current upmove should be ended around 1.5504 - 1.5910. Any correction consolidation should find support in 1.5042 - 1.4839 zone. EUR-JPY While below 136.5200 it is more likely to fall further towards 126.4400 or 123.7500. Premature rise above 136.5200 could see it rising above 141.9000 zone. EUR-GBP Strength can extend to 0.9376 or even higher than 0.9564 as declines are expected to find support at 0.9031 or 0.8875. A fall below 0.8498 could turn it bearish. AUD-USD Current rise seems to be over near 0.7003 or 0.7242 for a retracement towards 0.6764 - 0.6599 area. USD-CAD While above 1.2397 - 1.2174 zone a corrective dip could test 1.2619 or 1.2833 or 1.3047. After which it should resume his downtrend.



Trading Desk, RTFX Ltd
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