Daily Market Comments - Friday 02 July 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2627 or 1.2647 if support around 1.2420 hold. After which a pullback to 1.2420 - 1.2360 zone is possible.
USD-CHF	Market should not go lower than 1.0502. After this move down it should go up to 1.0728 area.
GBP-USD	It should trade higher to 1.5287 while 1.5080 or 1.5025 offers support. Stop loss below 1.4970 zone.
USD-JPY	One more dip to 87.28 - 86.86 is likely followed by a grind higher to 88.08 - 88.45. After which it can resume its downtrend.
USD-CAD	It looks more likely that it would rise to 1.0654 - 1.0712 from 1.0588 or 1.0559. After which a downside move is expected.
NZD-USD	It should trade higher to 0.6950 or above 0.6995 in extention. Supports at 0.6851 and 0.6828. Stop loss below 0.6751 zone.
AUD-USD	Market should hold major support at 0.8315 before rising towards 0.8483 or even 0.8532 limit.
EUR-JPY	Current rise seems to be over near 109.78 or 110.53 for a retracement towards 109.02 - 108.62 area.
EUR-CHF	Currently uptrend should end around 1.3335 - 1.3421 area. A correction down to 1.3171 - 1.3094 is expected. A rise above 1.3575 will abort the expected correction.
EUR-GBP	Currently uptrend should end around 0.8324 - 0.8285 area. A correction down to below 0.8195 is expected. A rise above 0.8315 will abort the expected correction.
EUR-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3433 or 1.3378 if support around 1.3180 hold. After which a pullback to 1.3180 - 1.3128 zone is possible.
EUR-NZD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.8400 or 1.8300 if support around 1.8050 hold. After which a pullback to 1.8050 - 1.7969 zone is possible.
EUR-AUD	Current upmove should be ended around 1.4892 - 1.5017. Any correction consolidation should find support in 1.4684 - 1.4602 zone.
GBP-CHF	It looks set to visit further lower territory down to around 1.6012 - 1.5918. Its corrective attempts should fail ahead of 1.6012 - 1.6264. Stop loss above 1.6453 zone.
GBP-JPY	It should test 134.45 area after which a sell off down to 131.80 or extended to 130.66 area is expected.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6138 or 1.6199 if support around 1.6022 hold. After which a pullback to 1.6022 - 1.5963 zone is possible.
GBP-AUD	While below 1.8060 - 1.8163 it is more likely to fall further towards 1.7874 or 1.7790. Premature rise above 1.8163 could see it rising above 1.8330 zone.
CAD-JPY	Market should hold major support at 81.13 before rising towards 83.45 or even 84.22 limit.
NZD-JPY	Market should hold major support at 59.35 before rising towards 61.03 or even 61.56 limit.
AUD-JPY	Market should hold major support at 72.26 before rising towards 74.77 or even 75.66 limit.
XAG-USD	Market should not go lower than 17.75 - 17.44. After this move down it should go up to 18.22 - 18.39 area.
XAU-USD	Market should not go lower than 1197.70 - 1182.25. After this move down it should go up to 1221.45 - 1229.75 area.

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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