Daily Market Comments - Friday 23 July 2010

[RTFX-Trading]

EUR-USD	It should trade higher to 1.2968 while 1.2853 or 1.2815 offers support. Stop loss below 1.2778 zone.
USD-CHF	One more dip to 1.0412 is likely followed by a grind higher to 1.0498. After which it can resume its downtrend.
GBP-USD	It should trade higher to 1.5320 while 1.5205 or 1.5175 offers support. Stop loss below 1.5090 zone.
USD-JPY	Market should hold major support at 86.16 before rising towards 87.32 or even 87.70 limit.
USD-CAD	No comment!
NZD-USD	Currently uptrend should end around 0.7260 - 0.7315 area. A correction down to below 0.7139 is expected. A rise above 0.7382 will abort the expected correction.
AUD-USD	It should try higher up to 0.8943 - 0.9011. Entry point 0.8875 or 0.8836. After this rise, a correction is expected.
EUR-JPY	Difficult to predict the next move. If first down it should hold 111.05 or 110.50. If first up it should face resistance in 112.41 - 113.21 zone to 110.50 zone.
EUR-CHF	It should test 1.3533 area after which a sell off down to 1.3372 or extended to 1.3297 area is expected.
EUR-GBP	It should trade higher to 0.8480 while 0.8435 or 0.8419 offers support. Stop loss below 0.8404 zone.
EUR-CAD	There is bearish potential for a fall to 1.3360 - 1.3324 while 1.3395 - 1.3419 resist. After this fall a recovery up to 1.3419 or 1.3444 is expected.
EUR-NZD	Market should not go lower than 1.7764 - 1.7689. After this move down it should go up to 1.7889 - 1.7939 area.
EUR-AUD	There is bearish potential for a fall to 1.4423 - 1.4360 while 1.4485 - 1.4521 resist. After this fall a recovery up to 1.4521 or 1.4557 is expected.
GBP-CHF	It should try higher up to 1.5937 - 1.5965. Entry point 1.5909 or 1.5884. After this rise, a correction is expected.
GBP-JPY	It may attempt a test higher to 132.96 - 133.66 after which weakness may set it to a drift down to 131.25 limit.
GBP-CAD	There is bearish potential for a fall to 1.5822 - 1.5775 while 1.5868 - 1.5894 resist. After this fall a recovery up to 1.5894 or 1.5920 is expected.
GBP-AUD	There is bearish potential for a fall to 1.7067 - 1.6968 while 1.7167 - 1.7223 resist. After this fall a recovery up to 1.7223 or 1.7279 is expected.
CAD-JPY	It should be subject to more sell off towards 82.69 or 81.56. Corrective upward swings should face resistance around 85.10 area. A break of 85.23 is bullish.
NZD-JPY	Corrective dips should ideally halt near 62.20 or 61.82 for one more thrust upwards towards 63.17 - 63.77 area or 64.52 in extention. Fall below 60.63 puts it back on a downward path.
AUD-JPY	Corrective dips should ideally halt near 76.62 or 76.17 for one more thrust upwards towards 77.81 - 78.56 area or 79.45 in extention. Fall below 74.68 puts it back on a downward path.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 18.27 or 18.31 if support around 17.97 hold. After which a pullback to 17.97 - 17.86 zone is possible.
XAU-USD	Currently uptrend should end around 1197.95 - 1203.52 area. A correction down to below 1183.82 is expected. A rise above 1212.08 will abort the expected correction.

Trading Desk, RTFX Ltd
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