Daily Market Comments - Tuesday 20 July 2010

[RTFX-Trading]

EUR-USD	It should be subject to more sell off towards 1.2878 or 1.2814. Corrective upward swings should face resistance around 1.2963 area. A break of 1.3056 is bullish.
USD-CHF	Current rise seems to be over near 1.0555 or 1.0591 for a retracement towards 1.0520 - 1.0501 area.
GBP-USD	Current fall is near an end of wave around 1.5171 zone, a rally should then procede to above 1.5319. Fall below 1.5113 would cancel this scenario.
USD-JPY	Market should not go lower than 86.59 - 86.38. After this move down it should go up to 86.96 - 87.11 area.
USD-CAD	One move lower to 1.0505 or 1.0461 is anticipated while below 1.0566 - 1.0588 area. Stop loss above 1.0626 zone.
NZD-USD	It may meet resistance in 0.7060 - 0.7068 zone for a drift down to 0.7021 zone, after which bounce to 0.7106 is anticipated.
AUD-USD	It should try higher up to 0.8702 - 0.8725. Entry point 0.8679 or 0.8659. After this rise, a correction is expected.
EUR-JPY	It is likely to fall towards 111.41 - 110.61 unless a corrective rally breaks the 112.63 resistance. Stop above 113.03 zone.
EUR-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3684 or 1.3716 if support around 1.3612 hold. After which a pullback to 1.3612 - 1.3582 zone is possible.
EUR-GBP	While below 0.8515 - 0.8545 it is more likely to fall further towards 0.8462 or 0.8438. Premature rise above 0.8545 could see it rising above 0.8592 zone.
EUR-CAD	One move lower to 1.3591 or 1.3530 is anticipated while below 1.3672 - 1.3702 area. Stop loss above 1.3753 zone.
EUR-NZD	One move lower to 1.8185 or 1.8040 is anticipated while below 1.8387 - 1.8459 area. Stop loss above 1.8588 zone.
EUR-AUD	One move lower to 1.4824 or 1.4745 is anticipated while below 1.4938 - 1.4977 area. Stop loss above 1.5052 zone.
GBP-CHF	It should test 1.6112 area after which a sell off down to 1.6004 or extended to 1.5887 area is expected.
GBP-JPY	It may meet resistance in 132.42 - 132.73 zone for a drift down to below 131.40 zone.
GBP-CAD	It looks more likely that it would rise to 1.6160 - 1.6255 from 1.6047 or 1.5999. After which a downside move is expected.
GBP-AUD	It looks more likely that it would rise to 1.7678 - 1.7821 from 1.7504 or 1.7432. After which a downside move is expected.
CAD-JPY	One more dip to 81.97 - 81.63 is likely followed by a grind higher to 82.86.
NZD-JPY	It may meet resistance in 61.20 - 61.32 zone for a drift down to 60.79 zone, after which bounce to 61.73 is anticipated.
AUD-JPY	It should try higher up to 75.57 - 75.86. Entry point 75.28 or 74.99. After this rise, a correction is expected.
XAG-USD	It may meet resistance in 17.59 - 17.67 zone for a drift down to 17.42 zone, after which bounce to 17.85 is anticipated.
XAU-USD	It may meet resistance in 1185.25 - 1189.01 zone for a drift down to below 1175.45 zone.

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.