Daily Market Comments - Thursday 15 July 2010

[RTFX-Trading]

EUR-USD	While below 1.2761 - 1.2787 it is more likely to fall further towards 1.2713 or 1.2692. Premature rise above 1.2787 could see it rising above 1.2830 zone.
USD-CHF	There is bearish potential for a fall to 1.0525 - 1.0495 while 1.0556 - 1.0572 resist. After this fall a recovery up to 1.0572 or 1.0587 is expected.
GBP-USD	One move lower to 1.5195 or 1.5122 is anticipated while below 1.5282 - 1.5318 area. Stop loss above 1.5369 zone.
USD-JPY	Prefer a fall to 88.24 or 87.94. Then a correction to 88.75 is anticipated. A clear break of 87.49 is again bearish.
USD-CAD	It is likely to fall towards 1.0306 - 1.0285 as its corrective rally could falter in 1.0349 - 1.0370 area. Stop above 1.0413 zone.
NZD-USD	Currently uptrend should end around 0.7287 - 0.7278 area. A correction down to below 0.7183 is expected. A rise above 0.7314 will abort the expected correction.
AUD-USD	Currently uptrend should end around 0.8880 - 0.8885 area. A correction down to below 0.8800 is expected. A rise above 0.8920 will abort the expected correction.
EUR-JPY	It looks more likely that it would rise to 113.28 - 113.91 from 112.34 or 112.03. After which a downside move is expected.
EUR-CHF	There are initial signs of a good corrective recovery towards 1.3452 or even 1.3467. Supports at 1.3410 and 1.3383 zone.
EUR-GBP	One more dip to 0.8334 - 0.8316 is likely followed by a grind higher to 0.8367 - 0.8383. After which it can resume its downtrend.
EUR-CAD	Current rise should end around 1.3200. Objectives of this downmove are 1.3104 or 1.3050. A rise above 1.3241 is again bullish.
EUR-NZD	There is bearish potential for a fall to 1.7592 - 1.7542 while 1.7642 - 1.7670 resist. After this fall a recovery up to 1.7670 or 1.7697 is expected.
EUR-AUD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.4460 or under 1.4365 limits.
GBP-CHF	Resistances lie around 1.6118 and 1.6158. It should test lower towards 1.5990 zone. A clear break of 1.6046 would be bearish.
GBP-JPY	Should test support at 134.24 while below 134.95. If support at 134.24 holds it can rise up to 135.75, if not it should fall to below 133.52 zone.
GBP-CAD	Current rise should end around 1.5831. Objectives of this downmove are 1.5666 or 1.5567. A rise above 1.5897 is again bullish.
GBP-AUD	There are initial signs of a good corrective recovery to at least 1.7292 or even above 1.7333. Supports at 1.7210 and 1.7169 zone.
CAD-JPY	Prefer a fall to 85.35 or 84.98. Then a correction to 86.03 is anticipated. A clear break of 84.36 is again bearish.
NZD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 64.19 or 64.49 if support around 63.83 hold. After which a pullback to 63.83 - 63.59 zone is possible.
AUD-JPY	Current upmove should be ended around 78.54 - 78.90. Any correction consolidation should find support in 77.86 - 77.53 zone.
XAG-USD	While below 18.39 - 18.48 it is more likely to fall further towards 18.21 or 18.12. Premature rise above 18.48 could see it rising above 18.66 zone.
XAU-USD	There are initial signs of a good corrective recovery towards 1216.63 or even 1225.04. Supports at 1205.54 and 1201.33 zone.

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
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