Daily Market Comments - Friday 21 May 2010

[RTFX-Trading]

EUR-USD	Strength can extend to 1.2543 or even higher than 1.2625 as declines are expected to find support at 1.2392 or 1.2324. A fall below 1.2159 could turn it bearish.
USD-CHF	While below 1.1508 or 1.1512 it could fall towards below 1.1449 or 1.1389. After which a corrective/consolidation activity is expected to 1.1542 zone.
GBP-USD	It looks set for gains to 1.4477. Supports at 1.4296 and 1.4239. A break of 1.4115 will damage this bullish structure.
USD-JPY	One more dip to 89.33 - 88.48 is likely followed by a grind higher to 90.79 - 91.39. After which it can resume its downtrend.
USD-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0804 or 1.0813 if support around 1.0609 hold. After which a pullback to 1.0609 - 1.0553 zone is possible.
NZD-USD	Market should not go lower than 0.6641 - 0.6562. After this move down it should go up to 0.6769 - 0.6818 area.
AUD-USD	Market should not go lower than 0.7964. After this move down it should go up to 0.8397 area.
EUR-JPY	It should trade higher to 114.24 or above 116.51 in extention. Supports at 110.72 and 109.58. Stop loss below 107.19 zone.
EUR-CHF	Current upmove should be ended around 1.4413 - 1.4504. Any correction consolidation should find support in 1.4254 - 1.4187 zone.
EUR-GBP	Current rise seems to be over near 0.8705 or 0.8752 for a retracement towards 0.8658 - 0.8629 area.
EUR-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3627 or 1.3543 if support around 1.3209 hold. After which a pullback to 1.3209 - 1.3117 zone is possible.
EUR-NZD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.9097 or 1.9051 if support around 1.8508 hold. After which a pullback to 1.8508 - 1.8354 zone is possible.
EUR-AUD	Currently uptrend should end around 1.5802 - 1.5522 area. A correction down to below 1.4817 is expected. A rise above 1.5761 will abort the expected correction.
GBP-CHF	Corrective dips should ideally halt near 1.6460 or 1.6394 for one more thrust upwards towards 1.6596 - 1.6666 area or 1.6798 in extention. Fall below 1.6253 puts it back on a downward path.
GBP-JPY	One more dip to 127.80 - 126.13 is likely followed by a grind higher to 130.84 - 132.20. After which it can resume its downtrend.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5566 or 1.5503 if support around 1.5267 hold. After which a pullback to 1.5267 - 1.5203 zone is possible.
GBP-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.8010 or 1.7787 if support around 1.7383 hold. After which a pullback to 1.7383 - 1.7280 zone is possible.
CAD-JPY	Market should not go lower than 81.47. After this move down it should go up to 87.02 area.
NZD-JPY	Market should not go lower than 57.83. After this move down it should go up to 62.27 area.
AUD-JPY	Market should not go lower than 70.05. After this move down it should go up to 76.70 area.
XAG-USD	It may meet resistance in 17.67 - 17.82 zone for a drift down to 17.33 zone, after which bounce to 18.16 is anticipated.
XAU-USD	It may meet resistance in 1182.40 - 1185.27 zone for a drift down to 1172.33 zone, after which bounce to 1195.33 is anticipated.

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.