Weekly Market Comments - Monday 19 July 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3046 or 1.3115 if support around 1.2819 hold. After which a pullback to 1.2819 - 1.2725 zone is possible.
USD-CHF	It is likely to fall towards 1.0386 - 1.0256 unless a corrective rally breaks the 1.0596 resistance. Stop above 1.0661 zone.
GBP-USD	Currently uptrend should end around 1.5386 - 1.5532 area. A correction down to below 1.5009 is expected. A rise above 1.5764 will abort the expected correction.
USD-JPY	There is bearish potential for a fall to 86.47 - 85.57 while 87.36 - 87.91 resist. After this fall a recovery up to 87.91 or 88.46 is expected.
USD-CAD	It may attempt a test higher to 1.0553 - 1.0644 after which weakness may set it to a drift down to below 1.0364 limit.
NZD-USD	Resistances lie around 0.7208 and 0.7257. It should test lower towards 0.7012 zone. A clear break of 0.6975 would be bearish.
AUD-USD	A corrective rise should ideally test 0.8818 or even higher than 0.8939. Supports are at 0.8536. Stop loss below 0.8561 zone.
EUR-JPY	It looks more likely that it would rise to 113.38 - 114.73 from 111.36 or 110.68. After which a downside move is expected.
EUR-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3651 or 1.3710 if support around 1.3507 hold. After which a pullback to 1.3507 - 1.3449 zone is possible.
EUR-GBP	Currently uptrend should end around 0.8496 - 0.8501 area. A correction down to below 0.8357 is expected. A rise above 0.8554 will abort the expected correction.
EUR-CAD	It should try higher up to 1.3646 - 1.3878. Entry point 1.3415 or 1.3293. After this rise, a correction is expected.
EUR-NZD	It may attempt a test higher to 1.8199 - 1.8404 after which weakness may set it to a drift down to 1.7765 limit.
EUR-AUD	It should be subject to more sell off towards 1.4497 or 1.4129. Corrective upward swings should face resistance around 1.5359 area. A break of 1.5268 is bullish.
GBP-CHF	It looks set for gains to 1.6226. Supports at 1.5961 and 1.5893. A break of 1.5696 will damage this bullish structure.
GBP-JPY	While above 132.31 - 131.14 zone a corrective dip could test 133.48 or 134.94.
GBP-CAD	Corrective dips should ideally halt near 1.5780 or 1.5643 for one more thrust upwards towards 1.6165 - 1.6412 area or 1.6687 in extention. Fall below 1.5149 puts it back on a downward path.
GBP-AUD	It should test 1.8029 area after which a sell off down to 1.7263 or extended to 1.6932 area is expected.
CAD-JPY	There is bearish potential for a fall to 81.94 - 80.44 while 83.45 - 84.31 resist. After this fall a recovery up to 84.31 or 85.18 is expected.
NZD-JPY	There are initial signs of a good corrective recovery towards 62.97 or even 63.53. Supports at 61.47 and 60.52 zone.
AUD-JPY	There are initial signs of a good corrective recovery towards 77.11 or even 77.80. Supports at 75.20 and 73.98 zone.
XAG-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 18.52 or under 17.75 limits.
XAU-USD	It might hold above 1189.61 or around 1186.25 for a rise towards above 1212.00. Stop loss below 1180.10 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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