Daily Market Comments - Thursday April 2009

[RTFX-Trading]

EUR-USD It should trade higher to 1.3302 or 1.3354 in extension while 1.3208 offers support. Stop loss below 1.3182 zone .

USD-CHF It should be subject to more sell off towards 1.1380 or 1.1308. Corrective upward swings should face resistance around 1.1481 area. A break of 1.1548 is bullish.

USD-JPY There are initial signs of a good corrective recovery towards 98.9900 or even 99.2467. Supports at 98.3700 and 98.0067 zone.

GBP-USD A corrective/consolidation activity between 1.4338 and 1.4663 is likely for a while.

EUR-CHF Corrective dips should ideally halt near 1.5141 or 1.5118 for one more thrust upwards towards 1.5180 - 1.5219 area or 1.5265 in extention. Fall below 1.5095 puts it back on a downward path.

EUR-JPY There are initial signs of a good corrective recovery towards 131.2150 or even 131.6633. Supports at 130.2000 and 129.6333 zone.

EUR-GBP Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.9130 or 0.9123. Major support is clustered around 0.9065 limit.

AUD-USD Uptrend is still intact in a triangle configuration. It should continue to rally to 0.7033 or 0.7089 if support around 0.6948 hold. After which a pullback to 0.6948 - 0.6924 zone is possible.

USD-CAD It looks more likely that it would rise to above 1.2658 or 1.2686 from 1.2588 or 1.2546. After which a downside move to below 1.2490 is expected.

Trading Desk, RTFX Ltd
16th September Square - Mosta, MST 1180 - Malta

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