Monthly Market Comments - Thursday 01 July 2010

[RTFX-Trading]

EUR-USD	It should try higher up to 1.2352 - 1.2510. Entry point 1.2193 or 1.2056. After this rise, a correction is expected.
USD-CHF	It looks more likely that it would rise to 1.1420 - 1.2066 from 1.0764 or 1.0441. After which a downside move is expected.
GBP-USD	It may attempt a test higher to 1.5037 - 1.5268 after which weakness may set it to a drift down to 1.4486 limit.
USD-JPY	Market should not go lower than 88.36 - 86.85. After this move down it should go up to 90.66 - 91.45 area.
USD-CAD	It should try higher up to 1.0659 - 1.0832. Entry point 1.0485 or 1.0388. After this rise, a correction is expected.
NZD-USD	It is likely to fall towards 0.6560 - 0.6273 unless a corrective rally breaks the 0.7003 resistance. Stop above 0.7146 zone.
AUD-USD	One more dip to 0.8244 - 0.8039 is likely followed by a grind higher to 0.8632 - 0.8816. After which it can resume its downtrend.
EUR-JPY	It may meet resistance in 108.20 - 109.90 zone for a drift down to 105.63 zone, after which bounce to 112.47 is anticipated.
EUR-CHF	Market should not go lower than 1.2761. After this move down it should go up to 1.3884 area.
EUR-GBP	It may meet resistance in 0.8187 - 0.8243 zone for a drift down to 0.8012 zone, after which bounce to 0.8419 is anticipated.
EUR-CAD	Market should hold major support at 1.2258 before rising towards 1.3228 or even 1.3439 limit.
EUR-NZD	Market should hold major support at 1.7071 before rising towards 1.8313 or even 1.8752 limit.
EUR-AUD	It should be subject to more sell off towards 1.4260 or 1.4100. Corrective upward swings should face resistance around 1.4965 area. A break of 1.5198 is bullish.
GBP-CHF	There is bearish potential for a fall to 1.5775 while 1.6426 - 1.6590 resist. After this fall a recovery up to 1.6590 or 1.6754 is expected.
GBP-JPY	It may meet resistance in 132.17 - 133.01 zone for a drift down to 129.60 zone, after which bounce to 135.58 is anticipated.
GBP-CAD	It should trade higher to 1.6226 while 1.5616 or 1.5453 offers support. Stop loss below 1.5289 zone.
GBP-AUD	Current rise seems to be over near 1.7837 or 1.8200 for a retracement towards 1.7475 - 1.7265 area.
CAD-JPY	Market should not go lower than 83.06 - 80.73. After this move down it should go up to 86.58 - 87.78 area.
NZD-JPY	Market should not go lower than 58.48. After this move down it should go up to 63.93 area.
AUD-JPY	Support at 74.01 or 71.72 should hold the downside for a correction to above 78.90 zone.
XAG-USD	It looks set for gains to 19.66. Supports at 17.91 and 17.39. A break of 16.16 will damage this bullish structure.
XAU-USD	While below 1253.85 - 1272.80 it is more likely to fall further towards 1219.70 or 1204.50. Premature rise above 1272.80 could see it rising above 1303.20 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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