Daily Market Comments - Wednesday 02 June 2010

[RTFX-Trading]

EUR-USD	It is likely to fall towards 1.2110 - 1.1989 unless a corrective rally breaks the 1.2292 resistance. Stop above 1.2353 zone.
USD-CHF	It looks more likely that it would rise to 1.1710 - 1.1852 from 1.1519 or 1.1448. After which a downside move is expected.
GBP-USD	Current rise seems to be over near 1.4687 or 1.4769 for a retracement towards 1.4604 - 1.4545 area.
USD-JPY	Market should pop up towards 91.20 or 91.42 this bullish scenario would be damaged if 90.74 - 90.51 zone is broken, a severe break down could then occur.
USD-CAD	It should trade higher to 1.0605 while 1.0513 or 1.0488 offers support. Stop loss below 1.0462 zone.
NZD-USD	No comment!
AUD-USD	Market should not go lower than 0.8297 - 0.8237. After this move down it should go up to 0.8394 - 0.8432 area.
EUR-JPY	It is likely to fall towards 110.49 - 109.70 as its corrective rally could falter in 112.04 - 112.79 area. Stop above 114.37 zone.
EUR-CHF	Market should not go lower than 1.4147 - 1.4120. After this move down it should go up to 1.4187 - 1.4201 area.
EUR-GBP	Market should not go lower than 0.8279. After this move down it should go up to 0.8440 area.
EUR-CAD	Market should hold major support at 1.2783 before rising towards 1.2973 or even 1.3040 limit.
EUR-NZD	It should be subject to more sell off towards 1.8040 or 1.8002. Corrective upward swings should face resistance around 1.8229 area. A break of 1.8272 is bullish.
EUR-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4785 or 1.4798 if support around 1.4648 hold. After which a pullback to 1.4648 - 1.4605 zone is possible.
GBP-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.7049 or 1.7099 if support around 1.6904 hold. After which a pullback to 1.6904 - 1.6830 zone is possible.
GBP-JPY	Currently uptrend should end around 133.85 - 134.86 area. A correction down to below 131.22 is expected. A rise above 136.48 will abort the expected correction.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5477 or 1.5583 if support around 1.5350 hold. After which a pullback to 1.5350 - 1.5290 zone is possible.
GBP-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.7825 or 1.7801 if support around 1.7469 hold. After which a pullback to 1.7469 - 1.7381 zone is possible.
CAD-JPY	There is bearish potential for a fall to 85.45 while 86.56 - 86.92 resist. After this fall a recovery up to 86.92 or 87.28 is expected.
NZD-JPY	Market should pop up towards 61.92 or 62.32 this bullish scenario would be damaged if 61.04 - 60.57 zone is broken, a severe break down could then occur.
AUD-JPY	Market should not go lower than 75.31 - 74.64. After this move down it should go up to 76.46 - 76.94 area.
XAG-USD	There is bearish potential for a fall to 18.35 - 18.23 while 18.47 - 18.57 resist. After this fall a recovery up to 18.57 or 18.67 is expected.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1231.77 or 1231.53 if support around 1223.17 hold. After which a pullback to 1223.17 - 1220.22 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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