Daily Market Comments - Wednesday 09 June 2010

[RTFX-Trading]

EUR-USD	Currently uptrend should end around 1.1991 - 1.2021 area. A correction down to 1.1938 - 1.1914 is expected. A rise above 1.2068 will abort the expected correction.
USD-CHF	Market should pop up towards 1.1584 or 1.1616 this bullish scenario would be damaged if 1.1506 - 1.1461 zone is broken, a severe break down could then occur.
GBP-USD	It may attempt a test higher to 1.4499 - 1.4550 after which weakness may set it to a drift down to 1.4368 limit.
USD-JPY	Corrective dips should ideally halt near 91.15 or 90.89 for one more thrust upwards towards 91.69 - 91.97 area or 92.49 in extention. Fall below 90.32 puts it back on a downward path.
USD-CAD	Market should not go lower than 1.0473 - 1.0424. After this move down it should go up to 1.0547 - 1.0572 area.
NZD-USD	It looks set for gains to 0.6714. Supports at 0.6623 and 0.6602. A break of 0.6532 will damage this bullish structure.
AUD-USD	It should trade higher to 0.8348 while 0.8215 or 0.8180 offers support. Stop loss below 0.8145 zone.
EUR-JPY	It should be subject to more sell off towards 108.92 or 108.54. Corrective upward swings should face resistance around 110.14 area. A break of 111.03 is bullish.
EUR-CHF	It is likely to fall towards 1.3728 - 1.3655 unless a corrective rally breaks the 1.3855 resistance. Stop above 1.3892 zone.
EUR-GBP	It is a triangle configuration. Market should break either side. Acceleration should occur above 0.8337 or under 0.8232 limits.
EUR-CAD	One more dip to 1.2529 is likely followed by a grind higher to 1.2630. After which it can resume its downtrend.
EUR-NZD	While above 1.7910 - 1.7837 zone a corrective upmove could test 1.8036 or 1.8089. After which it should resume its downtrend.
EUR-AUD	There is bearish potential for a fall to 1.4348 while 1.4544 - 1.4603 resist. After this fall a recovery up to 1.4603 or 1.4662 is expected.
GBP-CHF	It is likely to fall towards 1.6507 - 1.6338 unless a corrective rally breaks the 1.6786 resistance. Stop above 1.6871 zone.
GBP-JPY	It may attempt a test higher to 132.87 - 133.68 after which weakness may set it to a drift down to 130.72 limit.
GBP-CAD	Market should pop up towards 1.5259 or 1.5312 this bullish scenario would be damaged if 1.5129 - 1.5052 zone is broken, a severe break down could then occur.
GBP-AUD	There is bearish potential for a fall to 1.7299 while 1.7596 - 1.7687 resist. After this fall a recovery up to 1.7687 or 1.7778 is expected.
CAD-JPY	It should trade lower to 86.28. Resistances are at 87.87 and 88.43. A break of 89.46 is bullish, confirmed by a close above 88.73.
NZD-JPY	It should trade higher to 61.46 or above 61.90 in extention. Supports at 60.47 and 60.25. Stop loss below 59.47 zone.
AUD-JPY	It should trade higher to 76.39 while 75.11 or 74.77 offers support. Stop loss below 74.43 zone.
XAG-USD	Should test support at 18.07 while below 18.28. If support at 18.07 holds it can rise up to 18.49, if not it should fall to below 17.87 zone.
XAU-USD	There are initial signs of a good corrective recovery towards 1244.40 or even 1247.98. Supports at 1235.13 and 1229.43 zone.

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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