Daily Market Comments - Friday 28 May 2010

[RTFX-Trading]

EUR-USD	It should trade higher to 1.2453 while 1.2304 or 1.2258 offers support. Stop loss below 1.2212 zone.
USD-CHF	There is bearish potential for a fall to 1.1498 - 1.1445 while 1.1550 - 1.1583 resist. After this fall a recovery up to 1.1583 or 1.1615 is expected.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4637 or 1.4670 if support around 1.4519 hold. After which a pullback to 1.4519 - 1.4475 zone is possible.
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 91.14 or 91.48 if support around 90.65 hold. After which a pullback to 90.65 - 90.43 zone is possible.
USD-CAD	Market should not go lower than 1.0481 - 1.0402. After this move down it should go up to 1.0601 - 1.0640 area.
NZD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.6878 or 0.6923 if support around 0.6775 hold. After which a pullback to 0.6775 - 0.6732 zone is possible.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8574 or 0.8628 if support around 0.8415 hold. After which a pullback to 0.8415 - 0.8358 zone is possible.
EUR-JPY	It should try higher up to 112.65 - 113.80. Entry point 111.51 or 110.87. After this rise, a correction is expected.
EUR-CHF	Corrective dips should ideally halt near 1.4170 or 1.4134 for one more thrust upwards towards 1.4251 - 1.4298 area or 1.4368 in extention. Fall below 1.4041 puts it back on a downward path.
EUR-GBP	It should test 0.8499 area after which a sell off down to 0.8429 or extended to 0.8381 area is expected.
EUR-CAD	Current fall is near an end of wave around 1.2870 zone, a rally should then procede to above 1.3058. Fall below 1.2782 would cancel this scenario.
EUR-NZD	One more dip to 1.8022 - 1.7899 is likely followed by a grind higher to 1.8237 - 1.8327. After which it can resume its downtrend.
EUR-AUD	Market should not go lower than 1.4324. After this move down it should go up to 1.4743 area.
GBP-CHF	Current rise seems to be over near 1.6809 or 1.6862 for a retracement towards 1.6756 - 1.6717 area.
GBP-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 133.39 or 134.13 if support around 131.61 hold. After which a pullback to 131.61 - 130.92 zone is possible.
GBP-CAD	One more dip to 1.5246 - 1.5191 is likely followed by a grind higher to 1.5348 - 1.5395. After which it can resume its downtrend.
GBP-AUD	Market should not go lower than 1.7108 - 1.6968. After this move down it should go up to 1.7327 - 1.7407 area.
CAD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 87.32 or 87.89 if support around 85.85 hold. After which a pullback to 85.85 - 85.33 zone is possible.
NZD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 62.68 or 63.30 if support around 61.41 hold. After which a pullback to 61.41 - 60.89 zone is possible.
AUD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 78.16 or 78.90 if support around 76.29 hold. After which a pullback to 76.29 - 75.59 zone is possible.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 18.74 or 18.72 if support around 18.37 hold. After which a pullback to 18.37 - 18.27 zone is possible.
XAU-USD	Strength can extend to 1218.79 as declines are expected to find support at 1209.33. A fall below 1206.26 could turn it bearish.

Trading Desk, RTFX Ltd
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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.