Daily Market Comments - Monday 26 July 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2967 or 1.2989 if support around 1.2892 hold. After which a pullback to 1.2892 - 1.2855 zone is possible.
USD-CHF	It should trade higher to 1.0597 while 1.0502 or 1.0472 offers support. Stop loss below 1.0441 zone.
GBP-USD	Current rise seems to be over near 1.5436 or 1.5497 for a retracement towards 1.5374 - 1.5337 area.
USD-JPY	Currently uptrend should end around 87.43 - 87.67 area. A correction down to 87.05 - 86.90 is expected. A rise above 87.97 will abort the expected correction.
USD-CAD	Market should not go lower than 1.0353 - 1.0325. After this move down it should go up to 1.0399 - 1.0416 area.
NZD-USD	One move lower to 0.7236 or 0.7200 is anticipated while below 0.7281 - 0.7298 area. Stop loss above 0.7326 zone.
AUD-USD	Current rise should end around 0.8995. Objectives of this downmove are 0.8922 or 0.8874. A rise above 0.9019 is again bullish.
EUR-JPY	Currently uptrend should end around 113.48 - 113.36 area. A correction down to below 111.96 is expected. A rise above 113.89 will abort the expected correction.
EUR-CHF	Current rise seems to be over near 1.3608 or 1.3671 for a retracement towards 1.3544 - 1.3512 area.
EUR-GBP	It is likely to fall towards 0.8346 - 0.8310 as its corrective rally could falter in 0.8414 - 0.8446 area. Stop above 0.8519 zone.
EUR-CAD	It looks more likely that it would rise to 1.3488 - 1.3595 from 1.3345 or 1.3291. After which a downside move is expected.
EUR-NZD	Market should hold major support at 1.7612 before rising towards 1.7879 or even 1.7996 limit.
EUR-AUD	One more dip to 1.4366 - 1.4320 is likely followed by a grind higher to 1.4451 - 1.4490. After which it can resume his downtrend.
GBP-CHF	Current rise seems to be over near 1.6261 or 1.6379 for a retracement towards 1.6142 - 1.6077 area.
GBP-JPY	Current rise seems to be over near 134.88 or 135.69 for a retracement towards 134.07 - 133.59 area.
GBP-CAD	Strength can extend to 1.6047 or even 1.6124 as declines are expected to find support at 1.5971 or 1.5898. Stop Loss below 1.5826 zone.
GBP-AUD	Current upmove should continue up to 1.7426. Supports at 1.7186 and 1.7128. Stop Loss below 1.7070 limit.
CAD-JPY	Currently uptrend should end around 84.76 - 84.69 area. A correction down to below 83.70 is expected. A rise above 85.05 will abort the expected correction.
NZD-JPY	While below 63.64 - 63.93 it is more likely to fall further towards 63.14 or 62.93. Premature rise above 63.93 could see it rising above 64.34 zone.
AUD-JPY	Currently uptrend should end around 79.01 - 78.76 area. A correction down to below 77.61 is expected. A rise above 79.14 will abort the expected correction.
XAG-USD	Should test support at 18.02 while below 18.10. If support at 18.02 holds it can rise up to 18.23, if not it should fall to below 17.93 zone.
XAU-USD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1204.05 or under 1183.43 limits.

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