Daily Market Comments - Tuesday 13 July 2010

[RTFX-Trading]

EUR-USD	Current fall is near an end of wave around 1.2550 zone, a rally should then procede to above 1.2645. Fall below 1.2503 would cancel this scenario.
USD-CHF	Resistances lie around 1.0640 and 1.0671. It should test lower towards 1.0542 zone. A clear break of 1.0589 would be bearish.
GBP-USD	Market should hold major support at 1.4891 before rising towards 1.5096 or even 1.5160 limit.
USD-JPY	There are initial signs of a good corrective recovery towards 88.89 or even 89.05. Supports at 88.50 and 88.29 zone.
USD-CAD	Market should hold major support at 1.0308 before rising towards 1.0405 or even 1.0439 limit.
NZD-USD	It should trade higher to 0.7138 or above 0.7158 in extention. Supports at 0.7088 and 0.7077. Stop loss below 0.7037 zone.
AUD-USD	It should test 0.8798 area after which a sell off down to 0.8715 or extended to 0.8671 area is expected.
EUR-JPY	It is likely to fall towards 111.38 - 111.05 as its corrective rally could falter in 112.01 - 112.30 area. Stop above 112.98 zone.
EUR-CHF	It looks more likely that it would rise to 1.3411 - 1.3465 from 1.3331 or 1.3304. After which a downside move is expected.
EUR-GBP	Market should go down to 0.8379 - 0.8379 area .If this crucial support zone holds it should resume higher to 0.8419 - 0.8459 zone.
EUR-CAD	It should try higher up to 1.3068 - 1.3103. Entry point 1.3034 or 1.3015. After this rise, a correction is expected.
EUR-NZD	Support at 1.7696 or 1.7648 should hold the downside for a correction to above 1.7795 zone.
EUR-AUD	It might hold above 1.4373 or around 1.4365 for a rise towards above 1.4433. Stop loss below 1.4347 zone.
GBP-CHF	It looks more likely that it would rise to 1.6051 - 1.6162 from 1.5886 or 1.5831. After which a downside move is expected.
GBP-JPY	It is likely to fall towards 132.52 - 131.83 unless a corrective rally breaks the 133.61 resistance. Stop above 133.95 zone.
GBP-CAD	It should test 1.5714 area after which a sell off down to 1.5465 or extended to 1.5338 area is expected.
GBP-AUD	No comment!
CAD-JPY	Preferred view is for a fall to 85.27 - 84.88 while 85.94 - 86.22 area resists. A clear break of 86.99 would be bullish.
NZD-JPY	Current upmove should continue up to 63.58. Supports at 62.97 and 62.84. Stop Loss below 62.71 limit.
AUD-JPY	It looks set for gains to 78.11. Supports at 77.37 and 77.12. A break of 76.62 will damage this bullish structure.
XAG-USD	It is likely to fall towards 17.86 - 17.77 as its corrective rally could falter in 18.04 - 18.13 area. Stop above 18.31 zone.
XAU-USD	It looks more likely that it would rise to 1207.91 - 1218.96 from 1196.67 or 1191.14. After which a downside move 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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