Daily Market Comments - Wednesday 28 July 2010

[RTFX-Trading]

EUR-USD	Resistances lie around 1.3021 and 1.3044. It should test lower towards 1.2950 zone. A clear break of 1.2990 would be bearish.
USD-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0643 or 1.0670 if support around 1.0576 hold. After which a pullback to 1.0576 - 1.0544 zone is possible.
GBP-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5633 or 1.5648 if support around 1.5546 hold. After which a pullback to 1.5546 - 1.5518 zone is possible.
USD-JPY	Current rise seems to be over near 87.94 or 88.31 for a retracement towards 87.57 - 87.37 area.
USD-CAD	It looks set for gains to 1.0412. Supports at 1.0305 and 1.0277. A break of 1.0199 will damage this bullish structure.
NZD-USD	There are initial signs of a good corrective recovery towards 0.7364 or even 0.7381. Supports at 0.7323 and 0.7299 zone.
AUD-USD	There are initial signs of a good corrective recovery towards 0.9046 or even 0.9062. Supports at 0.9012 and 0.8993 zone.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 114.81 or 114.85 if support around 113.82 hold. After which a pullback to 113.82 - 113.51 zone is possible.
EUR-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3858 or 1.3846 if support around 1.3734 hold. After which a pullback to 1.3734 - 1.3703 zone is possible.
EUR-GBP	Prefer a fall to 0.8334 or 0.8306. Then a correction to 0.8375 is anticipated. A clear break of 0.8279 is again bearish.
EUR-CAD	It should trade higher to 1.3511 while 1.3428 or 1.3400 offers support. Stop loss below 1.3371 zone.
EUR-NZD	Market should hold major support at 1.7636 before rising towards 1.7779 or even 1.7834 limit.
EUR-AUD	It looks set for gains to 1.4449. Supports at 1.4372 and 1.4348. A break of 1.4295 will damage this bullish structure.
GBP-CHF	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6631 or 1.6645 if support around 1.6439 hold. After which a pullback to 1.6439 - 1.6386 zone is possible.
GBP-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 137.84 or 138.04 if support around 136.25 hold. After which a pullback to 136.25 - 135.76 zone is possible.
GBP-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6163 or 1.6235 if support around 1.6080 hold. After which a pullback to 1.6080 - 1.6035 zone is possible.
GBP-AUD	It should trade higher to 1.7351 while 1.7185 or 1.7149 offers support. Stop loss below 1.7018 zone.
CAD-JPY	While below 85.15 - 85.50 it is more likely to fall further towards 84.50 or 84.20. Premature rise above 85.50 could see it rising above 86.11 zone.
NZD-JPY	Currently uptrend should end around 64.94 - 64.89 area. A correction down to below 63.82 is expected. A rise above 65.32 will abort the expected correction.
AUD-JPY	Currently uptrend should end around 79.57 - 79.76 area. A correction down to below 78.55 is expected. A rise above 80.21 will abort the expected correction.
XAG-USD	Market should not go lower than 17.63 - 17.42. After this move down it should go up to 17.94 - 18.06 area.
XAU-USD	Market should not go lower than 1159.95 - 1150.87. After this move down it should go up to 1174.47 - 1179.92 area.

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.