Weekly Market Comments - Monday 26 July 2010

[RTFX-Trading]

EUR-USD	While below 1.2971 - 1.3051 it is more likely to fall further towards 1.2756 or 1.2596.
USD-CHF	Market should hold major support at 1.0419 before rising towards 1.0601 or even 1.0667 limit.
GBP-USD	Current rise seems to be over near 1.5436 or 1.5540 for a retracement towards 1.5332 - 1.5273 area.
USD-JPY	It should test 88.18 area after which a sell off down to 86.61 or extended to 85.86 area is expected.
USD-CAD	While above 1.0353 - 1.0276 zone a corrective dip could test 1.0431 or 1.0515.
NZD-USD	It should trade higher to 0.7364 while 0.7150 or 0.7104 offers support. Stop loss below 0.6936 zone.
AUD-USD	It should try higher up to 0.8970 - 0.9083. Entry point 0.8858 or 0.8802. After this rise, a correction is expected.
EUR-JPY	It should be subject to more sell off towards 110.79 or 108.73. Corrective upward swings should face resistance around 115.14 area. A break of 115.41 is bullish.
EUR-CHF	It should try higher up to 1.3642 - 1.3741. Entry point 1.3542 or 1.3475. After this rise, a correction is expected.
EUR-GBP	It looks more likely that it would rise to 0.8498 - 0.8622 from 0.8346 or 0.8284. After which a downside move is expected.
EUR-CAD	It looks more likely that it would rise to 1.3627 - 1.3872 from 1.3324 or 1.3202. After which a downside move is expected.
EUR-NZD	While above 1.7690 - 1.7440 zone a corrective dip could test 1.7941 or 1.8263.
EUR-AUD	While above 1.4366 - 1.4164 zone a corrective dip could test 1.4568 or 1.4804.
GBP-CHF	It should trade higher to 1.6396 while 1.6125 or 1.6051 offers support. Stop loss below 1.5977 zone.
GBP-JPY	It should be subject to more sell off towards 132.05 or 129.36. Corrective upward swings should face resistance around 138.36 area. A break of 137.71 is bullish.
GBP-CAD	It looks more likely that it would rise to 1.6180 - 1.6381 from 1.5888 or 1.5787. After which a downside move is expected.
GBP-AUD	While below 1.7456 - 1.7590 it might drop to 1.6927 or 1.6659.
CAD-JPY	It should test 86.79 area after which a sell off down to 82.58 or extended to 80.84 area is expected.
NZD-JPY	It should trade higher to 64.55 while 62.22 or 61.71 offers support. Stop loss below 59.89 zone.
AUD-JPY	It should be subject to more sell off towards 75.91 or 73.45. Corrective upward swings should face resistance around 82.02 area. A break of 80.85 is bullish.
XAG-USD	It may attempt a test higher to 18.19 - 18.44 after which weakness may set it to a drift down to below 17.61 limit.
XAU-USD	One more dip to 1181.75 is likely followed by a grind higher to 1202.62. After which it can resume its downtrend.

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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