Daily Market Comments - Thursday 20 May 2010

[RTFX-Trading]

EUR-USD	It should be subject to more sell off towards 1.2279 or 1.2231. Corrective upward swings should face resistance around 1.2677 area. A break of 1.2608 is bullish.
USD-CHF	While below 1.1545 - 1.1588 it is more likely to fall further towards 1.1462 or 1.1420. Premature rise above 1.1588 could see it rising above 1.1670 zone.
GBP-USD	Market should hold major support at 1.4297 before rising towards 1.4516 or even 1.4589 limit.
USD-JPY	Market should hold major support at 90.56 before rising towards 92.32 or even 92.93 limit.
USD-CAD	Resistances lie around 1.0488 and 1.0523. It should test lower towards 1.0367 zone. A clear break of 1.0395 would be bearish.
NZD-USD	One more dip to 0.6719 - 0.6645 is likely followed by a grind higher to 0.6859 - 0.6926. After which it can resume its downtrend.
AUD-USD	Current fall is near an end of wave around 0.8339 zone, a rally should then procede to above 0.8623. Fall below 0.8207 would cancel this scenario.
EUR-JPY	It should test 116.74 area after which a sell off down to 111.82 or extended to 109.79 area is expected.
EUR-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4389 or 1.4391 if support around 1.4198 hold. After which a pullback to 1.4198 - 1.4143 zone is possible.
EUR-GBP	It should trade higher to 0.8634 while 0.8545 or 0.8525 offers support. Stop loss below 0.8455 zone.
EUR-CAD	Currently uptrend should end around 1.2970 - 1.3077 area. A correction down to below 1.2746 is expected. A rise above 1.3194 will abort the expected correction.
EUR-NZD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.8561 or 1.8663 if support around 1.8118 hold. After which a pullback to 1.8118 - 1.7945 zone is possible.
EUR-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4886 or 1.4884 if support around 1.4495 hold. After which a pullback to 1.4495 - 1.4380 zone is possible.
GBP-CHF	Current rise seems to be over near 1.6635 or 1.6733 for a retracement towards 1.6538 - 1.6480 area.
GBP-JPY	It should test 135.01 area after which a sell off down to 130.62 or extended to 128.78 area is expected.
GBP-CAD	Currently uptrend should end around 1.5102 - 1.5187 area. A correction down to 1.4960 - 1.4905 is expected. A rise above 1.5298 will abort the expected correction.
GBP-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.7340 or 1.7277 if support around 1.6920 hold. After which a pullback to 1.6920 - 1.6806 zone is possible.
CAD-JPY	Market should hold major support at 85.50 before rising towards 88.99 or even 90.11 limit.
NZD-JPY	Current fall is near an end of wave around 60.56 zone, a rally should then procede to above 63.89. Fall below 58.96 would cancel this scenario.
AUD-JPY	One more dip to 76.88 - 75.93 is likely followed by a grind higher to 78.72 - 79.60. After which it can resume its downtrend.
XAG-USD	Market should not go lower than 17.76. After this move down it should go up to 18.86 area.
XAU-USD	Market should not go lower than 1190.35 - 1177.82. After this move down it should go up to 1210.88 - 1218.87 area.

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.