Daily Market Comments - Thursday 22 July 2010

[RTFX-Trading]

EUR-USD	Market should not go lower than 1.2682. After this move down it should go up to 1.2867 area.
USD-CHF	Market should hold major support at 1.0480 before rising towards 1.0544 or even 1.0572 limit.
GBP-USD	There is bearish potential for a fall to 1.5144 - 1.5081 while 1.5207 - 1.5248 resist. After this fall a recovery up to 1.5248 or 1.5289 is expected.
USD-JPY	While above 86.96 - 86.78 zone a corrective upmove could test 87.28 or 87.42. After which it should resume its downtrend.
USD-CAD	It should test 1.0619 area after which a sell off down to 1.0394 or extended to 1.0297 area is expected.
NZD-USD	There are initial signs of a good corrective recovery towards 0.7160 or even 0.7173. Supports at 0.7122 and 0.7098 zone.
AUD-USD	There are initial signs of a good corrective recovery towards 0.8820 or even 0.8839. Supports at 0.8772 and 0.8743 zone.
EUR-JPY	Market should not go lower than 110.90 - 110.25. After this move down it should go up to 111.93 - 112.31 area.
EUR-CHF	Market should not go lower than 1.3302. After this move down it should go up to 1.3529 area.
EUR-GBP	Current fall is near an end of wave around 0.8374 zone, a rally should then procede to above 0.8450. Fall below 0.8338 would cancel this scenario.
EUR-CAD	It should try higher up to 1.3424 - 1.3476. Entry point 1.3372 or 1.3324. After this rise, a correction is expected.
EUR-NZD	It may meet resistance in 1.7901 - 1.7915 zone for a drift down to 1.7805 zone, after which bounce to 1.8011 is anticipated.
EUR-AUD	It may meet resistance in 1.4525 - 1.4542 zone for a drift down to 1.4444 zone, after which bounce to 1.4622 is anticipated.
GBP-CHF	Market should not go lower than 1.5933 - 1.5872. After this move down it should go up to 1.6030 - 1.6067 area.
GBP-JPY	Prefer a fall to 131.79 or 131.14. Then a correction to 132.87 is anticipated. A clear break of 130.29 is again bearish.
GBP-CAD	Market should hold major support at 1.5735 before rising towards 1.5982 or even 1.6056 limit.
GBP-AUD	It may meet resistance in 1.7268 - 1.7273 zone for a drift down to 1.7187 zone, after which bounce to 1.7354 is anticipated.
CAD-JPY	There are initial signs of a good corrective recovery towards 83.60 or even 83.86. Supports at 82.89 and 82.45 zone.
NZD-JPY	There are initial signs of a good corrective recovery towards 62.41 or even 62.58. Supports at 61.96 and 61.68 zone.
AUD-JPY	There are initial signs of a good corrective recovery towards 76.90 or even 77.13. Supports at 76.32 and 75.97 zone.
XAG-USD	It looks more likely that it would rise to 17.84 - 18.02 from 17.62 or 17.53. After which a downside move is expected.
XAU-USD	It looks more likely that it would rise to 1194.26 - 1203.29 from 1184.40 or 1179.88. 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

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.