Daily Market Comments - Thursday 08 July 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2655 or 1.2683 if support around 1.2619 hold. After which a pullback to 1.2619 - 1.2596 zone is possible.
USD-CHF	Market should not go lower than 1.0513 - 1.0472. After this move down it should go up to 1.0578 - 1.0601 area.
GBP-USD	It should trade higher to 1.5245 while 1.5135 or 1.5107 offers support. Stop loss below 1.5025 zone.
USD-JPY	Market should hold major support at 87.18 before rising towards 87.98 or even 88.26 limit.
USD-CAD	Market should not go lower than 1.0464 - 1.0417. After this move down it should go up to 1.0535 - 1.0559 area.
NZD-USD	Current rise seems to be over near 0.7042 or 0.7093 for a retracement towards 0.6990 - 0.6959 area.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8715 or 0.8721 if support around 0.8586 hold. After which a pullback to 0.8586 - 0.8546 zone is possible.
EUR-JPY	It looks set for gains to 111.42. Supports at 110.07 and 109.78. A break of 108.73 will damage this bullish structure.
EUR-CHF	Market should not go lower than 1.3278 - 1.3239. After this move down it should go up to 1.3342 - 1.3368 area.
EUR-GBP	It should find support in 0.8270 area for a rally to 0.8390. Unexpected fall below 0.8248 will dent this bullish view.
EUR-CAD	Market should not go lower than 1.3225 - 1.3189. After this move down it should go up to 1.3279 - 1.3297 area.
EUR-NZD	Market should not go lower than 1.7957 - 1.7860. After this move down it should go up to 1.8110 - 1.8167 area.
EUR-AUD	Market should not go lower than 1.4510. After this move down it should go up to 1.4798 area.
GBP-CHF	Market should not go lower than 1.5971 - 1.5931. After this move down it should go up to 1.6033 - 1.6056 area.
GBP-JPY	It may attempt a test higher to 133.28 - 133.96 after which weakness may set it to a drift down to 131.86 limit.
GBP-CAD	Market should not go lower than 1.5832. After this move down it should go up to 1.5981 area.
GBP-AUD	Support at 1.7556 or 1.7450 should hold the downside for a correction to above 1.7783 zone.
CAD-JPY	It should trade higher to 84.39 while 83.24 or 82.95 offers support. Stop loss below 82.66 zone.
NZD-JPY	It should trade higher to 62.34 while 61.15 or 60.81 offers support. Stop loss below 60.47 zone.
AUD-JPY	Current rise seems to be over near 75.91 or 76.69 for a retracement towards 75.12 - 74.68 area.
XAG-USD	It looks set for gains to 18.22. Supports at 17.80 and 17.71. A break of 17.38 will damage this bullish structure.
XAU-USD	It should test 1219.35 area after which a sell off down to 1190.47 or extended to 1178.13 area is expected.

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.