Daily Market Comments - Monday 31 May 2010

[RTFX-Trading]

EUR-USD	There are initial signs of a good corrective recovery towards 1.2362 or even 1.2392. Supports at 1.2270 and 1.2209 zone.
USD-CHF	It may attempt a test higher to 1.1594 - 1.1631 after which weakness may set it to a drift down to below 1.1518 limit.
GBP-USD	It looks more likely that it would rise to 1.4568 - 1.4679 from 1.4446 or 1.4391. After which a downside move is expected.
USD-JPY	There are initial signs of a good corrective recovery towards 91.15 or even 91.34. Supports at 90.75 and 90.53 zone.
USD-CAD	It should try higher up to 1.0531 - 1.0560. Entry point 1.0502 or 1.0483. After this rise, a correction is expected.
NZD-USD	There are initial signs of a good corrective recovery towards 0.6824 or even 0.6847. Supports at 0.6771 and 0.6741 zone.
AUD-USD	A corrective rise should ideally test 0.8541 or even higher than 0.8607. Supports are at 0.8445. Stop loss below 0.8363 zone.
EUR-JPY	There are initial signs of a good corrective recovery towards 112.61 or even 113.03. Supports at 111.45 and 110.70 zone.
EUR-CHF	A corrective rise should ideally test 1.4285 or even higher than 1.4346. Supports are at 1.4154. Stop loss below 1.4150 zone.
EUR-GBP	It is a triangle configuration. Market should break either side. Acceleration should occur above 0.8548 or under 0.8446 limits.
EUR-CAD	Market should not go lower than 1.2902 - 1.2862. After this move down it should go up to 1.2966 - 1.2990 area.
EUR-NZD	One more dip to 1.8021 - 1.7951 is likely followed by a grind higher to 1.8224.
EUR-AUD	It may meet resistance in 1.4482 - 1.4509 zone for a drift down to 1.4410 zone, after which bounce to 1.4581 is anticipated.
GBP-CHF	While above 1.6725 - 1.6686 zone a corrective upmove could test 1.6800 or 1.6838. After which it should resume its downtrend.
GBP-JPY	There are initial signs of a good corrective recovery towards 132.33 or even 132.82. Supports at 131.16 and 130.46 zone.
GBP-CAD	It may meet resistance in 1.5231 - 1.5261 zone for a drift down to below 1.5152 zone.
GBP-AUD	It may meet resistance in 1.7063 - 1.7088 zone for a drift down to 1.6977 zone, after which bounce to 1.7175 is anticipated.
CAD-JPY	A corrective rise should ideally test 87.20 or even higher than 87.97. Supports are at 85.82. Stop loss below 85.28 zone.
NZD-JPY	A corrective rise should ideally test 62.45 or even higher than 63.19. Supports are at 61.23. Stop loss below 60.53 zone.
AUD-JPY	A corrective rise should ideally test 77.91 or even higher than 78.77. Supports are at 76.64. Stop loss below 75.60 zone.
XAG-USD	There are initial signs of a good corrective recovery towards 18.52 or even 18.61. Supports at 18.32 and 18.22 zone.
XAU-USD	It may attempt a test higher to 1215.12 - 1219.42 after which weakness may set it to a drift down to below 1206.12 limit.

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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