Daily Market Comments - Tuesday 25 May 2010

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.2359 - 1.2290. After this move down it should go up to 1.2468 - 1.2509 area.
USD-CHF	Current rise seems to be over near 1.1601 or 1.1637 for a retracement towards 1.1564 - 1.1541 area.
GBP-USD	While above 1.4389 - 1.4343 zone a corrective upmove could test 1.4477 or 1.4518. After which it should resume its downtrend.
USD-JPY	Current rise should end around 90.69. Objectives of this downmove are 89.82 or 89.35. A rise above 91.09 is again bullish.
USD-CAD	It should test 1.0682 area after which a sell off down to 1.0553 or extended to 1.0481 area is expected.
NZD-USD	While below 0.6692 - 0.6723 it could fall towards below 0.6626. Rise above 0.6740 could activate some bullish pattern.
AUD-USD	Current move should be supported in 0.8226 - 0.8182 zone for a rise to 0.8353. A break below 0.8098 opens the way down.
EUR-JPY	No comment!
EUR-CHF	No comment!
EUR-GBP	Support at 0.8570 or 0.8535 should hold the downside for a correction to above 0.8646 zone.
EUR-CAD	One more dip to 1.3108 is likely followed by a grind higher to 1.3306. After which it can resume its downtrend.
EUR-NZD	Current fall is near an end of wave around 1.8316 zone, a rally should then procede to above 1.8665. Fall below 1.8144 would cancel this scenario.
EUR-AUD	Market should not go lower than 1.4915 - 1.4802. After this move down it should go up to 1.5112 - 1.5195 area.
GBP-CHF	While below 1.6747 - 1.6790 it is more likely to fall further towards 1.6667 or 1.6632. Premature rise above 1.6790 could see it rising above 1.6862 zone.
GBP-JPY	It looks more likely that it would rise to 131.38 - 132.51 from 129.69 or 129.13. After which a downside move is expected.
GBP-CAD	It may attempt a test higher to 1.5365 - 1.5422 after which weakness may set it to a drift down to 1.5215 limit.
GBP-AUD	It should be subject to more sell off towards 1.7367 or 1.7285. Corrective upward swings should face resistance around 1.7465 area. A break of 1.7784 is bullish.
CAD-JPY	Resistances lie around 85.41 and 85.82. It should test lower towards 84.17 zone. A clear break of 84.86 would be bearish.
NZD-JPY	There are initial signs of a good corrective recovery to at least 60.91 or even above 61.16. Supports at 59.92 zone.
AUD-JPY	While below 75.11 - 75.65 it is more likely to fall further towards 73.55 or 72.47.
XAG-USD	While below 17.99 - 18.10 it is more likely to fall further towards 17.77 or 17.67. Premature rise above 18.10 could see it rising above 18.30 zone.
XAU-USD	Currently uptrend should end around 1198.99 - 1199.97 area. A correction down to below 1180.67 is expected. A rise above 1208.18 will abort the expected correction.

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

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