Daily Market Comments - Monday 05 July 2010

[RTFX-Trading]

EUR-USD	One move lower to 1.2485 or 1.2419 is anticipated while below 1.2581 - 1.2614 area. Stop loss above 1.2677 zone.
USD-CHF	It should test 1.0667 area after which a sell off down to 1.0590 or extended to 1.0530 area is expected.
GBP-USD	One move lower to 1.5156 or 1.5115 is anticipated while below 1.5213 - 1.5233 area. Stop loss above 1.5270 zone.
USD-JPY	It may attempt a test higher to 88.00 - 88.22 after which weakness may set it to a drift down to 87.35 limit.
USD-CAD	It should be subject to more sell off towards 1.0564 or 1.0505. Corrective upward swings should face resistance around 1.0645 area. A break of 1.0728 is bullish.
NZD-USD	There are initial signs of a good corrective recovery towards 0.6933 or even 0.6953. Supports at 0.6883 and 0.6854 zone.
AUD-USD	There are initial signs of a good corrective recovery towards 0.8469 or even 0.8491. Supports at 0.8415 and 0.8382 zone.
EUR-JPY	One move lower to 109.52 or 108.87 is anticipated while below 110.46 - 110.78 area. Stop loss above 111.39 zone.
EUR-CHF	While below 1.3399 - 1.3459 it is more likely to fall further towards 1.3291 or 1.3243. Premature rise above 1.3459 could see it rising above 1.3555 zone.
EUR-GBP	Resistances lie around 0.8279 and 0.8299. It should test lower towards 0.8218 zone. A clear break of 0.8258 would be bearish.
EUR-CAD	One move lower to 1.3222 or 1.3112 is anticipated while below 1.3380 - 1.3435 area. Stop loss above 1.3537 zone.
EUR-NZD	Currently uptrend should end around 1.8304 - 1.8323 area. A correction down to below 1.8031 is expected. A rise above 1.8442 will abort the expected correction.
EUR-AUD	Currently uptrend should end around 1.5015 - 1.4987 area. A correction down to below 1.4755 is expected. A rise above 1.5082 will abort the expected correction.
GBP-CHF	Current upmove should continue up to 1.6270 or 1.6359. Any correction should find support in 1.6163 - 1.6119 zone. A break above1.6248 could accelerate the move up.
GBP-JPY	While below 133.64 - 133.95 it is more likely to fall further towards 133.06 or 132.79. Premature rise above 133.95 could see it rising above 134.50 zone.
GBP-CAD	While below 1.6177 - 1.6230 it is more likely to fall further towards 1.6083 or 1.6040. Premature rise above 1.6230 could see it rising above 1.6315 zone.
GBP-AUD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.8065 or 1.8123 if support around 1.7979 hold. After which a pullback to 1.7979 - 1.7934 zone is possible.
CAD-JPY	Market should pop up towards 83.08 or 83.45 this bullish scenario would be damaged if 82.53 - 82.37 zone is broken, a severe break down could then occur.
NZD-JPY	While below 60.52 or 60.73 it could fall towards below 60.03 or 59.54. After which a corrective/consolidation activity is expected to 60.97 zone.
AUD-JPY	While below 74.21 it might drop to 73.37 or below 72.76 zone.
XAG-USD	One more dip to 17.72 - 17.60 is likely followed by a grind higher to 18.07.
XAU-USD	It should try higher up to 1212.48 - 1217.20. Entry point 1207.75 or 1204.93. After this rise, a correction is expected.

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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