Daily Market Comments - Tuesday 06 July 2010

[RTFX-Trading]

EUR-USD	It should be subject to more sell off towards 1.2511 or 1.2484. Corrective upward swings should face resistance around 1.2542 area. A break of 1.2590 is bullish.
USD-CHF	There are initial signs of a good corrective recovery towards 1.0660 or even 1.0673. Supports at 1.0633 and 1.0619 zone.
GBP-USD	It is likely to fall towards 1.5113 - 1.5083 as its corrective rally could falter in 1.5169 - 1.5195 area. Stop above 1.5255 zone.
USD-JPY	Any possible decline should be supported around 87.60 - 87.43 zone for rally to above 88.17. A clear break of 87.23 will damage this expected rally.
USD-CAD	Current upmove should be ended around 1.0655 - 1.0681. Any correction consolidation should find support in 1.0605 - 1.0581 zone.
NZD-USD	There is bearish potential for a fall to 0.6847 while 0.6893 - 0.6912 resist. After this fall a recovery up to 0.6912 or 0.6931 is expected.
AUD-USD	There is bearish potential for a fall to 0.8354 while 0.8411 - 0.8430 resist. After this fall a recovery up to 0.8430 or 0.8450 is expected.
EUR-JPY	It is a triangle configuration . Market should break either side. Acceleration should occur above 110.43 or under 109.71 limits.
EUR-CHF	If market stays below 1.3358 a fall to around 1.3284 is expected. If market breaks the point 1.3374 it could reach the sky.
EUR-GBP	Current upmove should end around 0.8303 - 0.8304 area. A correction down to 0.8259 or even 0.8233 is expected. A rise above 0.8323 will abort the expected correction.
EUR-CAD	It should find support in 1.3299 - 1.3273 area for a rally to 1.3436. Unexpected fall below 1.3213 will dent this bullish view.
EUR-NZD	Uptrend is still intact. It should continue to rally to 1.8419 or 1.8535 if supports at 1.8200 - 1.8148 area hold. Stop loss below 1.8096.
EUR-AUD	It should trade lower to 1.4841. Resistances are at 1.5006 and 1.5074. A break of 1.5171 is bullish, confirmed by a close above 1.5026.
GBP-CHF	It looks set to visit further lower territory down to around 1.6083 - 1.6049. Its corrective attempts should fail ahead of 1.6083 - 1.6183. Stop loss above 1.6252 zone.
GBP-JPY	No comment!
GBP-CAD	It looks more likely that it would rise to 1.6157 - 1.6218 from 1.6080 or 1.6049. After which a downside move is expected.
GBP-AUD	There are initial signs of a good corrective recovery to at least 1.8132 or even above 1.8231. Supports at 1.7985 zone.
CAD-JPY	While above 82.37 - 82.10 zone a corrective upmove could test 82.85 or 83.07. After which it should resume its downtrend.
NZD-JPY	It looks more likely that it would rise to 60.94 - 61.45 from 60.25 or 60.00. After which a downside move is expected.
AUD-JPY	It looks more likely that it would rise to 74.28 - 74.89 from 73.54 or 73.24. After which a downside move is expected.
XAG-USD	While above 17.78 - 17.74 zone a corrective dip could test 17.83 or 17.91. After which it should resume his downtrend.
XAU-USD	There are initial signs of a good corrective recovery towards 1211.75 or even 1213.68. Supports at 1207.45 and 1205.08 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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