Daily Market Comments - Wednesday 07 July 2010

[RTFX-Trading]

EUR-USD	It should trade higher to 1.2698 while 1.2589 or 1.2553 offers support. Stop loss below 1.2517 zone.
USD-CHF	It looks set to visit further lower territory down to around 1.0577 - 1.0547. Its corrective attempts should fail ahead of 1.0577 - 1.0652. Stop loss above 1.0712 zone.
GBP-USD	It is likely to fall towards 1.5079 - 1.5008 unless a corrective rally breaks the 1.5189 resistance. Stop above 1.5224 zone.
USD-JPY	No comment!
USD-CAD	Market should not go lower than 1.0515 - 1.0461. After this move down it should go up to 1.0611 - 1.0653 area.
NZD-USD	It should trade higher to 0.7001 while 0.6913 or 0.6882 offers support. Stop loss below 0.6851 zone.
AUD-USD	It should trade higher to 0.8619 while 0.8468 or 0.8422 offers support. Stop loss below 0.8376 zone.
EUR-JPY	It looks set for gains to 111.19. Supports at 109.83 and 109.49. A break of 108.47 will damage this bullish structure.
EUR-CHF	It looks set for gains to 1.3430. Supports at 1.3329 and 1.3301. A break of 1.3228 will damage this bullish structure.
EUR-GBP	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8356 or 0.8362 if support around 0.8313 hold. After which a pullback to 0.8313 - 0.8299 zone is possible.
EUR-CAD	It may attempt a test higher to 1.3339 - 1.3373 after which weakness may set it to a drift down to 1.3247 limit.
EUR-NZD	It should be subject to more sell off towards 1.8083 or 1.7971. Corrective upward swings should face resistance around 1.8218 area. A break of 1.8407 is bullish.
EUR-AUD	No comment!
GBP-CHF	Market should not go lower than 1.6040 - 1.5995. After this move down it should go up to 1.6112 - 1.6139 area.
GBP-JPY	It looks set to visit further lower territory down to around 132.24 - 131.75. Its corrective attempts should fail ahead of 132.24 - 133.56. Stop loss above 134.53 zone.
GBP-CAD	It looks set to visit further lower territory down to around 1.5951 - 1.5892. Its corrective attempts should fail ahead of 1.5951 - 1.6095. Stop loss above 1.6215 zone.
GBP-AUD	No comment!
CAD-JPY	It should try higher up to 83.26 - 83.72. Entry point 82.80 or 82.44. After this rise, a correction is expected.
NZD-JPY	It looks set for gains to 61.40. Supports at 60.21 and 59.88. A break of 59.02 will damage this bullish structure.
AUD-JPY	It should trade higher to 75.53 while 74.13 or 73.68 offers support. Stop loss below 73.23 zone.
XAG-USD	Corrective dips should ideally halt near 17.72 or 17.63 for one more thrust upwards towards 17.93 - 18.04 area or 18.23 in extention. Fall below 17.41 puts it back on a downward path.
XAU-USD	Market should not go lower than 1191.05 - 1183.46. After this move down it should go up to 1203.24 - 1207.84 area.

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.