Daily Market Comments - Wednesday 26 May 2010

[RTFX-Trading]

EUR-USD	It should try higher up to 1.2359 - 1.2419. Entry point 1.2298 or 1.2261. After this rise, a correction is expected.
USD-CHF	There are initial signs of a good corrective recovery towards 1.1633 or even 1.1658. Supports at 1.1566 and 1.1523 zone.
GBP-USD	Market should hold major support at 1.4214 before rising towards 1.4470 or even 1.4531 limit.
USD-JPY	Market should hold major support at 89.47 before rising towards 90.61 or even 90.97 limit.
USD-CAD	Resistances lie around 1.0765 and 1.0812. It should test lower towards 1.0581 zone. A clear break of 1.0550 would be bearish.
NZD-USD	It should test 0.6817 area after which a sell off down to 0.6600 or extended to 0.6498 area is expected.
AUD-USD	Market should hold major support at 0.8051 before rising towards 0.8348 or even 0.8419 limit.
EUR-JPY	Market should hold major support at 107.78 before rising towards 112.46 or even 113.53 limit.
EUR-CHF	It should try higher up to 1.4313. Entry point 1.4278 or 1.4246. After this rise, a correction is expected.
EUR-GBP	It should try higher up to 0.8577. Entry point 0.8555 or 0.8540. After this rise, a correction is expected.
EUR-CAD	It is likely to fall towards 1.3103 - 1.3027 unless a corrective rally breaks the 1.3228 resistance. Stop above 1.3266 zone.
EUR-NZD	It might hold above 1.8385 or 1.8322 for a rise towards above 1.8548. Stop loss below 1.8223 zone.
EUR-AUD	There is bearish potential for a fall to 1.4913 - 1.4836 while 1.4990 - 1.5030 resist. After this fall a recovery up to 1.5030 or 1.5069 is expected.
GBP-CHF	Market should pop up towards 1.6718 or 1.6760 this bullish scenario would be damaged if 1.6631 - 1.6587 zone is broken, a severe break down could then occur.
GBP-JPY	Market should hold major support at 127.50 before rising towards 130.96 or even 131.91 limit.
GBP-CAD	While below 1.5381 or 1.5402 it could fall towards below 1.5279 or 1.5176. After which a corrective/consolidation activity is expected to 1.5453 zone.
GBP-AUD	Preferred view is for a fall to 1.7406 - 1.7302 while 1.7562 - 1.7615 area resists. A clear break of 1.7823 would be bullish.
CAD-JPY	Market should hold major support at 82.29 before rising towards 85.54 or even 86.55 limit.
NZD-JPY	Market should hold major support at 58.50 before rising towards 61.19 or even 61.91 limit.
AUD-JPY	It should test 77.29 area after which a sell off down to 72.93 or extended to 71.17 area is expected.
XAG-USD	It should be subject to more sell off towards 17.74 or 17.67. Corrective upward swings should face resistance around 18.37 area. A break of 18.27 is bullish.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1211.87 or 1210.83 if support around 1198.07 hold. After which a pullback to 1198.07 - 1194.85 zone is possible.

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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